Sprinklr, Inc. Shareholders - Robbins LLP Reminds CXM Stockholders of the Class Action Against the Company – Seek Counsel Today

Core Viewpoint - A class action lawsuit has been filed against Sprinklr, Inc. for allegedly misleading investors about its challenges in scaling the Contact Center as a Service (CCaaS) market, leading to inflated stock prices during the class period [1][2]. Group 1: Allegations and Misleading Statements - The lawsuit claims that Sprinklr provided overly positive statements while concealing material adverse facts regarding difficulties in scaling the CCaaS market, which contributed to a slowdown in growth initiatives [2]. - On December 6, 2023, Sprinklr reported a sequential decrease in the number of customers spending over $1 million and reduced its growth estimate for the fourth quarter and fiscal year 2025 from 16% to 10%, resulting in a stock price drop of over 33% [3]. - On June 5, 2024, Sprinklr further reduced its fiscal year 2025 growth projections to 7%, attributing this to decreased customer retention and macroeconomic headwinds, causing a decline in stock price of more than 15% [4]. Group 2: Legal Proceedings and Participation - Shareholders wishing to serve as lead plaintiffs in the class action must file their papers by October 8, 2024, although participation is not required to be eligible for recovery [5]. - Robbins LLP, the law firm handling the case, emphasizes its commitment to shareholder rights and has recovered over $1 billion for shareholders since its inception [6].