SPROUT (NASDAQ:SPT) FRAUD ALERT: Sprout Social, Inc. sued

NEW YORK, June 22, 2024 (GLOBE NEWSWIRE) — Leading law firm Bleichmar Fonti & Auld LLP announces the upcoming July 12, 2024 deadline for the class action lawsuit against Sprout Social (Nasdaq: SPT). If you have invested in Sprout Social, you can find out more information at: 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 lawsuit alleges that between November 2, 2023 and May 2, 2024, Spout Social failed to disclose to investors that: (1) the Company’s revenue and earnings growth was not representative of the Company’s growth as it transitioned to a corporate sale cycle; (2) the Company experienced integration issues with the acquisition of Tagger; (3) the Company faced “revenue headwinds” as a result; (4) the Company would revise its fiscal year 2024 revenue guidance as a result; 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.

Sprout Social shares fell about 40% the following day. BFA Law is urging investors who lost money on their Sprout Social investment to submit their information to learn about their rights.

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

What can you do?

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

All representation is on a contingency basis. There are no costs for youShareholders will not be responsible for any court or litigation costs. The Company will seek court approval for any fees and costs.

To speak with an attorney and get more information, visit:

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

Or contact us:
Ross Shikowitz
[email protected]
212-789-3619

Why Bleichmar Fonti & Auld LLP?

Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in class actions and shareholder derivative litigation. It was named a Top 5 Plaintiffs Firm for 2023 by ISS SCAS and its lawyers have been named Titans of the Plaintiffs’ Bar by Law360 and SuperLawyers by Thompson Reuters. Recent notable successes include BFA recovering over $900 million in value from the board of Tesla, Inc. (subject to court approval), as well as $420 million from Teva Pharmaceutical Ind. Ltd.

For more information about BFA and its attorneys, visit https://www.bfalaw.com.

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

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