NEW YORK, July 26, 2024 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Sprinklr, Inc. (“Sprinklr” or the “Company”) (NYSE: CXM). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Sprinklr and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On June 5, 2024, Sprinklr issued a press release “report[ing] financial results for its first fiscal quarter ended April 30, 2024.” Among other items, Sprinklr provided full-year revenue guidance below expectations and second-quarter revenue guidance that fell short of consensus estimates. Sprinklr cited a soft demand environment with longer sales cycles and heightened budgetary scrutiny, and advised investors that it observed higher churn in its core product suites due to reduced marketing spend, elimination of programs, and seat reductions. Following the results, a D.A. Davidson analyst downgraded Sprinklr from Buy to Neutral, while Cantor Fitzgerald downgraded Sprinklr from Overweight to Neutral.
On this news, Sprinklr’s stock price fell $1.64 per share, or 15.13%, to close at $9.20 per share on June 6, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
