SPT - SPROUT SOCIAL ALERT: Bragar Eagel & Squire P.C. Announces that a Class Action Lawsuit Has Been Filed Against Sprout Social Inc. and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, May 14, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Sprout Social, Inc. ("Sprout Social" or the "Company") (NASDAQ:SPT) in the United States District Court for the Northern District of Illinois on behalf of all persons and entities who purchased or otherwise acquired Sprout Social securities between November 2, 2023 and May 2, 2024, both dates inclusive (the "Class Period"). Investors have until July 12, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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On May 2, 2024, after the markets closed, Sprout Social announced the Company's operating results for the first fiscal quarter of 2024, disclosing that the Company had missed its revenue guidance for the quarter. The company also revised its full year 2024 revenue guidance downward $20 million. The Company's Chief Financial Officer ("CFO") Joe Del Preto ("Del Preto") stated the Company had "underestimated the magnitude of enterprise seasonality" and that the Company had also been "self-inducing sales execution headwinds." During the earnings call held on the same day, the Company's Present and incoming Chief Executive ...