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The filed complaint alleges that Sapiens International Corporation N.V. made materially false and/or misleading statements and/or failed to disclose that: On November 8, 2024, Sapiens International reported 3Q 2024 earnings that fell well below expectations and then lowered its guidance for the year and predicted single-digit revenue growth for 2025. Management attributed the decrease to continued delays in deal closings, a larger-than-anticipated impact from clients moving to SaaS solutions from on-premises solutions, and an increase in competition in North America. Analysts expressed concerns regarding the Company’s weak performance in North America, noting a decline in revenue growth as the SaaS transition and economic uncertainty is leading to longer sales cycles. Following this news, SPNS’s stock price fell by $10.35 per share, or approximately 26.24% to close at $29.10 per share.
In order to be eligible to join the SPNS class action lawsuit, you must have incurred a loss on shares of Sapiens International Corporation N.V. purchased during the class period listed above.
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