Rosen Law Firm, a global investor rights law firm, reminds investors that a shareholder filed a class action on behalf of all purchasers of securities of Sprout Social, Inc. (NASDAQ: SPT) between November 2, 2023 and May 2, 2024. Sprout Social describes itself as a “software company which develops and operates a web-based social media management platform.”

For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.

The Allegations: Rosen Law Firm is Investigating the Allegations that Sprout Social, Inc. (NASDAQ: SPT) Misled Investors Regarding its Business Operations.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Sprout Social’s sales and revenue growth were not indicative of Sprout Social’s growth as it transitioned to an enterprise sales cycle; (2) Sprout Social faced integration challenges with its acquisition of Tagger Media, Inc. (“Tagger”); (3) as a result, Sprout Social was “self-inducing sales headwinds;” (4) as a result, Sprout Social would revise fiscal year 2024 revenue guidance; (5) as a result of the foregoing, defendants’ positive statements about Sprout Social’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

What Now: You may be eligible to participate in the class action against Sprout Social, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by July 12, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Rosen Law: Some law firms issuing releases about this matter do not actually litigate securities class actions; Rosen Law Firm does. A recognized leader in shareholder rights litigation, the attorneys and staff of Rosen Law Firm have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing. Since our inception, we have obtained over $1 billion for shareholders.

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