Manhattan Associates(US:MANH) Prnewswire·2025-02-27 01:43Core Viewpoint - A class action lawsuit has been filed against Manhattan Associates, Inc. for allegedly misleading investors about its growth potential and revenue forecasts during a specified period [1][2]. Group 1: Allegations and Company Performance - The lawsuit claims that during the class period, Manhattan Associates provided investors with optimistic statements regarding its expected revenue for fiscal year 2025, including confidence in its forecasting ability and growth potential of professional services [2]. - The complaint highlights that the company failed to disclose its actual capability to deliver reliable growth targets, suggesting that either the company was not equipped to provide such forecasts or its services were inadequate to meet those targets [2]. - On January 28, 2025, Manhattan Associates reported its financial results for Q4 and the full fiscal year 2024, announcing a reduction in revenue guidance for fiscal year 2025 due to a shift in professional services work and other factors, leading to a stock price drop of over 24% from $295.10 to $222.84 per share [3]. Group 2: Legal Proceedings and Shareholder Information - Shareholders interested in participating in the class action must file their papers by April 28, 2025, to serve as lead plaintiffs, representing other class members in the litigation [4]. - Shareholders are not required to participate in the case to be eligible for recovery, and they can choose to remain absent class members if they do not take action [4]. Group 3: Company Background - Robbins LLP, the firm leading the class action, has been focused on shareholder rights litigation since 2002, aiming to help shareholders recover losses and improve corporate governance [5].