The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Northern District of Illinois on behalf of shareholders of Sprout Social, Inc. who purchased Securities between November 3, 2021 and May 2, 2024.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (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) the Company faced integration challenges with its acquisition of Tagger, a leading influencer marketing and social intelligence platform; (3) as a result, the Company was “self inducing sales headwinds;” (4) as a result, the Company would revise fiscal year 2024 revenue guidance; and (5) 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.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until July 12, 2024 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
