Manhattan Associates(MANH) GlobeNewswire News Room·2025-02-27 23:00Core Viewpoint - A class action lawsuit has been filed against Manhattan Associates, Inc. for failing to disclose the true state of its forecasting ability for professional services, leading to a significant drop in share price following the release of disappointing financial results and lowered revenue guidance for 2025 [1][3][4]. Financial Performance - On January 28, 2025, Manhattan Associates reported its financial results for Q4 and the full fiscal year 2024, along with a reduced revenue guidance for the full fiscal year 2025 [3]. - The company attributed its results and lowered guidance to a shift in professional services work to future periods and reduced customization, alongside higher partner utilization [3]. - Following this announcement, Manhattan's share price fell by 295.10 to $222.84 per share [3]. Legal Proceedings - The class action lawsuit was filed in the U.S. District Court for the Northern District of Georgia on behalf of investors who acquired Manhattan securities during the Class Period from October 22, 2024, to January 28, 2025 [1]. - Investors have until April 28, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit [1].