A securities class action has been filed in the USDC — S.D.N.Y. against Sprinklr, Inc. (CXM) (“Sprinklr” or the “Company”), on behalf of all persons or entities that purchased or otherwise acquired Sprinklr common stock between March 29, 2023 and June 5, 2024, both dates inclusive (the “Class Period”).

Sprinklr is a software company that provides AI-based “Customer Experience Management” platforms for its client’s customer-facing teams. Its products help customers provide customer service across various platforms and in different capacities.

The claim arises on June 5, 2024 when Sprinklr announced significantly reduced growth expectations.

The complaint alleges that Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the difficulties in the implementation of scaling in the CCaaS market and the resulting growth slowdown on their existing “go-to-market” initiatives associated with Sprinklr’s core suite of products, which collectively caused Plaintiff and other shareholders to purchase Sprinklr’s securities at artificially inflated prices.

As a result, from a closing market price of $10.84 per share on June 5, 2024 Sprinklr’s stock price fell to $9.20 per share on June 6, 2024, a decline of more than 15% in the span of one day.

If you purchased Sprinklr common stock during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.