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Published April 4, 2025
Manhattan Associates’ left investors speechless when it missed its financial projections and slashed its guidance. Shocked investors quickly dumped their shares and Manhattan’s stock went into freefall, losing 25% in just a day. Now, investors are taking legal action.
In October 2024, Manhattan announced its revenue projections for the coming year. The Company expressed confidence that demand for Manhattan’s services remained strong despite the shaky economic environment. In fact, the Company’s CEO called the estimates “responsible.”
But the guidance proved irresponsible. In January 2025, Manhattan released terrible financial results and slashed its guidance. The Company blamed the failure on economic “headwinds,” despite saying it was holding on strong just a few months before.
Furious investors ditched their shares, sending Manhattan’s stock price tumbling. Some of those investors are now joining the class-action.