Manhattan Associates(MANH) Prnewswire·2025-03-10 04:37Core Viewpoint - A class action 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 Financial Performance - The complaint alleges that during the class period, Manhattan Associates provided optimistic statements regarding its expected revenue for fiscal year 2025, including confidence in its forecasting ability and growth potential of professional services [2]. - Despite these positive assertions, the company purportedly failed to disclose its actual capability to deliver responsible growth targets, indicating a lack of preparedness to meet such expectations [2]. - On January 28, 2025, Manhattan Associates reported its fourth-quarter and full-year 2024 financial results, announcing a reduction in revenue guidance for fiscal year 2025, attributing this to a shift in professional services work and other operational challenges [3]. - Following the announcement, the stock price of Manhattan Associates fell from 222.84 per share, marking a decline of over 24% [3]. Group 2: Class Action Participation - Shareholders may be eligible to participate in the class action against Manhattan Associates, with a deadline to file as lead plaintiff by April 28, 2025 [4]. - A lead plaintiff represents the interests of other class members in the litigation, although participation is not required to be eligible for recovery [4]. Group 3: Company Background - Manhattan Associates, Inc. is a global company specializing in software solutions for supply chain management, inventory, and omnichannel operations [1].