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CXM.US
id: 1310

Sprinklr (CXM) Slow Growth Case

The case has been dismissed, typically without any further action.
S.D. New York
Court
1:24-cv-06132
Case number
03/29/2023
Class period Start
06/05/2024
Class period End
10/15/2024
Lead Plaintiff motion deadline

  • $CXM stockholders filed a claim against Sprinklr for hiding issues and slow growth in its core products.

  • After the financial results on June 5, 2024, $CXM fell by 15%.

  • Sprinklr investors can join this case to be notified about potential recovery.

Case Details:

On December 6, 2023, Sprinklr reported a drop in big customers spending over $1 million and lowered its growth forecast for 2025 from 16% to 10%, blaming tough economic conditions.

On this news, $CXM fell by more than 33%.

During the March 27, 2024 earnings call, Sprinklr kept giving overly optimistic forecasts, even though there were ongoing issues and leadership changes.

Then, on June 5, 2024, Sprinklr cut its 2025 growth forecast to 7%, citing customer losses and economic challenges.

After that, $CXM dropped by more than 15%.

Based on these events, a $CXM stockholder filed a claim against Sprinklr and its leaders for misleading investors with overly positive updates while hiding issues and slow growth in their core products.

Case Type
US Securities Class Action
Case Status
Dismissed
Alleged Offence
Mismanagement, 
Misleading Statements, 
Omissions
Suspected Party
Directors, 
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
06/05/2024
Filing date
08/13/2024
Lead Plaintiff Deadline
10/15/2024