Freshworks Inc.

Ticker: FRSH

Registration Deadline: 01/03/2025

A securities class action lawsuit has been filed in the USDC – N.D.CA., against Freshworks Inc. (NASDAQ: FRSH) (“Freshworks” or the “Company”), certain of the Company’s directors and officers, and the underwriters of Freshworks’ September 2021 initial public offering (“IPO”), alleging violations of §§11, 12 and 15 of the Securities Act of 1933.  If you purchased Freshworks common stock pursuant to and/or traceable to the Company’s Registration Statement and Prospectus (collectively, the “Offering Documents”) issued in connection with the Company’s IPO, you are encouraged to complete the information below to receive more information. 

Freshworks provides customer engagement software for businesses. On or about September 22, 2021, Freshworks conducted its IPO, offering 28.5 million shares of its common stock to the investing public at a price of $36 per share (the “Offering Price”).

The Complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material facts or omitted to state other facts necessary to make the statements made not misleading, and were not prepared in accordance with the rules and regulations governing their preparation. The Offering Documents omitted to state that, at the time of the Offering, Freshworks’ net dollar retention rate had plateaued while its revenue growth rate and billings were, in fact, decelerating.

As the truth about the Company’s business reached the market, the value of its shares declined dramatically, causing Freshworks investors to suffer significant damages.  Indeed, by the commencement of the action, Freshworks’ shares traded as low as $10.51 per share, representing a decline of over 70% from the Offering Price.

 

If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.

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