FRSH Investors Have Opportunity to Lead Freshworks Inc. Securities Lawsuit

Rhea-AI Summary

Investors in Freshworks (NASDAQ: FRSH) have an opportunity to lead a securities class action lawsuit due to alleged misrepresentations during the Class Period, starting from the September 2021 IPO. The lead plaintiff application deadline is set for January 3, 2023. According to the complaint, the company did not disclose a plateau in net dollar retention rate alongside a deceleration in revenue growth and billings, leading to materially misleading statements about its business prospects.

Positive

• None.

Negative

• Allegations of misrepresentations regarding business performance.
• Net dollar retention rate plateaued, indicating potential growth issues.
• Revenue growth rate and billings are decelerating.

LOS ANGELES, Nov. 22, 2022 /PRNewswire/ -- Glancy Prongay & Murray LLP ("GPM") announces that investors with substantial losses have opportunity to lead the securities class action lawsuit against Freshworks Inc. ("Freshworks" or the "Company") (NASDAQ: FRSH).

Class Period: All purchases in or after the September 2021 IPO
Lead Plaintiff Application Deadline: January 3, 2023

If you wish to serve as lead plaintiff of the Freshworks lawsuit, you can submit your contact information at www.glancylaw.com/cases/freshworks-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

The complaint filed alleges that, throughout the Class Period, Defendants failed to disclose to investors that: (1) Freshworks' net dollar retention rate had plateaued while its revenue growth rate and billings were decelerating, and (2) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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SOURCE Glancy Prongay & Murray LLP

FAQ

What is the class action lawsuit against Freshworks (FRSH) about?

The lawsuit alleges misrepresentations about Freshworks' performance, particularly regarding a plateau in net dollar retention and deceleration in revenue growth.

When is the lead plaintiff application deadline for the Freshworks (FRSH) lawsuit?

The lead plaintiff application deadline is January 3, 2023.

Which period does the Freshworks (FRSH) class action cover?

The class action covers all purchases made in or after the September 2021 IPO.

How can I join the class action lawsuit against Freshworks (FRSH)?

Investors can submit their contact information on Glancy Prongay & Murray LLP’s website to join the class action.