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SPROUT SOCIAL, INC. (NASDAQ: SPT) DEADLINE ALERT: Bernstein

NEW YORK, May 28, 2024 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP:

  • Do you own or have held shares of Sprout Social, Inc. (NASDAQ: SPT)?
  • Did you purchase your shares between November 2, 2023 and May 2, 2024 inclusive?
  • Have you lost money on your investment in Sprout Social, Inc.?
  • Would you like to discuss your rights?

Bernstein Liebhard LLP, a nationally respected investor rights law firm, reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit filed on behalf of investors who purchased or acquired Sprout Social, Inc. securities. (“Sprout Social” or the “Company”) (NASDAQ: SPT) between November 2, 2023 and May 2, 2024inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Northern District of Illinois alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its employees (the “Complaint”).

if you you have purchased or acquired Sprout Social securities and/or would like to discuss your rights and options visit Sprout Social, Inc. Shareholder Class Action Lawsuit or contact the Investor Relations Manager Peter Allocco at (212) 951-2030 or [email protected].

If you wish to serve as lead plaintiff, you must move the Court no later than July 12, 2024. A lead plaintiff is a representative party who acts on behalf of other class members and directs the litigation. Your ability to share in any recovery does not require you to be a lead plaintiff. If you choose to take no action, you may remain an absent member of the class.

According to the complaint, Defendants failed to disclose to investors that: (1) the Company’s sales and revenue growth was not indicative of the Company’s growth as it transitioned to the corporate sales cycle; (2) the Company faced integration challenges with the acquisition of Tagger Media, Inc.; (3) the Company “self-induced sales difficulties”; and (4) as a result, the Company will revise its fiscal year 2024 revenue guidance.

On May 2, 2024, after markets closed, Sprout Social announced the Company’s fiscal first quarter 2024 operating results, disclosing that the Company had not provided revenue guidance for the quarter. The company also revised down its full-year 2024 revenue guidance by $20 million.

On this news, Sprout Social’s share price fell $19.33, or 40.1%, to close at $28.82 per share on May 3, 2024.

if you you have purchased or acquired Sprout Social securities and/or would like to discuss your rights and options visit Sprout Social, Inc. Shareholder Class Action Lawsuit or contact the Investor Relations Manager Peter Allocco at (212) 951-2030 or [email protected].

Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the firm works with the largest public and private pension funds in the country to monitor their assets and litigate on their behalf. As a result of our success in litigating hundreds of lawsuits and class actions, the firm has been named to The National Law Journal’s “Hot List of Plaintiffs” thirteen times and has been named to The Legal 500 list for sixteen consecutive years.

ADVERTISING ATTORNEYS. © 2024 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Past results do not guarantee or predict a similar result with respect to any future matter.

Contact info:

Peter Allocco
Investor Relations Manager
Bernstein Liebhard limited liability company
https://www.bernlieb.com
(212) 951-2030
[email protected]