Workflow
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors It Has Filed a Complaint to Recover Losses Suffered by Purchasers of Manhattan Associates, Inc. Securities and Sets a Lead Plaintiff Deadline of April 28, 2025
Manhattan AssociatesManhattan Associates(US:MANH) GlobeNewswire News Room·2025-02-26 16:13

Core Viewpoint - A class action lawsuit has been filed against Manhattan Associates, Inc. following a significant drop in its stock price after the company issued reduced revenue guidance for fiscal year 2025 [1][3]. Group 1: Lawsuit Details - The lawsuit, Timothy Prime v. Manhattan Associates, Inc., was initiated in the United States District Court for the Northern District of Georgia [1]. - Investors who purchased securities of Manhattan Associates between October 22, 2024, and January 28, 2025, are eligible to participate in the lawsuit [1][4]. Group 2: Financial Performance and Guidance - On January 28, 2025, Manhattan Associates reported its financial results for Q4 and the full fiscal year 2024, along with a lowered revenue guidance for fiscal year 2025 [3]. - The company attributed the reduced guidance to a shift in professional services work to future periods, reduced customization, and higher partner utilization [3]. Group 3: Stock Price Reaction - Following the announcement of the lowered guidance, Manhattan Associates' stock price fell from $295.10 per share on January 28, 2025, to $222.84 per share on January 29, 2025, marking a decline of approximately 24.49% in one day [3].