According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Sprout Social’s sales and revenue growth were not indicative of Sprout Socials’ growth as it transitioned to an enterprise sales cycle;
- Sprout Social faced integration challenges with its acquisition of Tagger Media, Inc. (“Tagger”);
- as a result, Sprout Social was “self-inducing sales headwinds;”
- as a result, Sprout Social would revise fiscal year 2024 revenue guidance;
- as a result of the foregoing, defendants’ positive statements about Sprout Social’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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