The Gross Law Firm Reminds Sprout Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of July 12, 2024 - SPT

Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Sprout Social, Inc. regarding a class action lawsuit due to alleged misleading statements and failures to disclose material information during a specified class period [1][4]. Group 1: Class Action Details - The class period for the lawsuit is from November 3, 2021, to May 2, 2024, with a registration deadline of July 12, 2024 [2]. - Shareholders who purchased shares during this period are encouraged to register for the class action and may be eligible for recovery [3][5]. Group 2: Allegations Against the Company - The complaint alleges that the company made materially false and/or misleading statements regarding its sales and revenue growth, which were not reflective of its transition to an enterprise sales cycle [4]. - It is claimed that the company faced integration challenges with its acquisition of Tagger, leading to self-induced sales headwinds and necessitating a revision of fiscal year 2024 revenue guidance [4]. - The positive statements made by the defendants about the company's business and prospects are alleged to be materially misleading and lacking a reasonable basis [4].