LEGAL DEADLINE NOTICE: Sprout Social, Inc. Investors are Reminded About Upcoming Deadline in Securities Action and are Encouraged to Submit Their Information

Rhea-AI Summary

Bleichmar Fonti & Auld LLP announces the July 12, 2024, deadline for the Sprout Social (Nasdaq: SPT) Securities Class Action Lawsuit. Initiated on May 13, 2024, the lawsuit alleges that Sprout Social failed to disclose critical information to investors between November 2, 2023, and May 2, 2024. These include inaccurate sales and revenue growth indicators, integration challenges with the Tagger acquisition, and adjusted fiscal year 2024 revenue guidance. Shareholders are encouraged to submit their information for potential participation in the lawsuit. For more details, visit https://www.bfalaw.com/cases/sprout-social-inc-investigation.

Positive

• Bleichmar Fonti & Auld LLP is a top-rated law firm with a strong track record in securities class action litigation.
• All representation in the lawsuit is on a contingency fee basis, meaning no upfront costs for shareholders.
• BFA Law has recovered significant amounts in other cases, indicating strong litigation capabilities.

Negative

• Sprout Social's stock declined by approximately 40% following the lawsuit announcement.
• The company allegedly failed to disclose critical information regarding sales and revenue growth, integration challenges, and revised fiscal year 2024 revenue guidance.
• Potential for significant legal costs and reputational damage associated with the securities lawsuit.

NEW YORK, NY / ACCESSWIRE / May 30, 2024 / Leading law firm Bleichmar Fonti & Auld LLP announces the upcoming July 12, 2024, deadline in the Sprout Social (Nasdaq:SPT) Securities Class Action Lawsuit. If you invested in Sprout Social, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases/sprout-social-inc-investigation.

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 Law encourages investors who lost money in their Sprout Social investment to submit your information to find out about your rights.

Submit your information: https://www.bfalaw.com/cases/sprout-social-inc-investigation.

What Can You Do?

If you invested in Sprout Social, Inc. you may be eligible to lead the case on behalf of shareholders.

All representation is on a contingency fee basis, there is no cost to you. 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 speak with an attorney for more information visit:

https://www.bfalaw.com/cases/sprout-social-inc-investigation

Or contact:

Ross Shikowitz
ross@bfalaw.com
212-789-3619

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.

https://www.bfalaw.com/cases/sprout-social-inc-investigation

Attorney advertising. Past results do not guarantee future outcomes.

SOURCE: Bleichmar Fonti & Auld LLP

View the original press release on accesswire.com

FAQ

What is the deadline for the Sprout Social Securities Class Action Lawsuit?

The deadline for the Sprout Social (Nasdaq: SPT) Securities Class Action Lawsuit is July 12, 2024.

Why is Sprout Social being sued?

Sprout Social is being sued for allegedly failing to disclose critical information about sales, revenue growth, integration challenges with Tagger, and revised fiscal year 2024 revenue guidance.

How much did Sprout Social's stock decline after the lawsuit announcement?

Sprout Social's stock declined by approximately 40% following the lawsuit announcement.

Who can participate in the Sprout Social lawsuit?

Shareholders who invested in Sprout Social between November 2, 2023, and May 2, 2024, may be eligible to participate in the lawsuit.

What are the costs associated with joining the Sprout Social lawsuit?

There are no upfront costs for shareholders as the representation is on a contingency fee basis.