NEW YORK, May 14, 2024 (GLOBE NEWSWIRE) -- If you invested in Sprout Social, you are encouraged to obtain additional information by contacting Ross Shikowitz at ross@bfalaw.com, calling us at 212-789-3619, or by visiting https://www.bfalaw.com/cases/sprout-social-inc-investigation
There is no cost to you.
Why is SPT being Sued?
On May 13, 2024, Sprout Social was sued for violations of the federal securities laws. The Complaint alleges that between November 2, 2023 and May 2, 2024 Spout Social failed to disclose to investors: (1) the Company’s sales and revenue growth were not indicative of the Company’s growth as it transitioned to an enterprise sales cycle; (2) that the Company faced integration challenges with its acquisition of Tagger; (3) as a result, the Company faced “sales headwinds;” (4) as a result, the Company would revise fiscal year 2024 revenue guidance; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Sprout Social’s stock declined approximately 40% the following day. BFA is investigating whether Sprout Social and its executives made materially false and/or misleading statements to investors.
What Can You Do?
If you invested in Sprout Social, Inc. you may be eligible to lead the case on behalf of shareholders.
Go to https://www.bfalaw.com/cases/sprout-social-inc-investigation for more information about leading the case.
All representation is on a contingency fee basis. Shareholders are not responsible for any court costs or expenses of litigation. The Firm will seek court approval for any potential fees and expenses.
To obtain more information please contact:
Ross Shikowitz
ross@bfalaw.com
212-789-3619
Go to https://www.bfalaw.com/cases/sprout-social-inc-investigation to speak with an attorney
Why Bleichmar Fonti & Auld LLP?
Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder derivative litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.’s Board of Directors (pending court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.
For more information about BFA and its attorneys, please visit https://www.bfalaw.com.
Attorney advertising. Past results do not guarantee future outcomes.
