Join Sprinklr, Inc. Class Action Lawsuit: CXM Lawsuit Sign Up Form

Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Sprinklr, Inc. (NYSE: CXM) securities.

If you suffered a loss on your Sprinklr investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.

THE LAWSUIT: Mar 29 2023 - Jun 05 2024

CASE DETAILS: According to the complaint, on December 6, 2023, Sprinklr announced strong 3Q 2024 results and then reduced its estimated growth for the 4Q and full year 2025. The Company blamed it on “subscription renewal pressures” caused by macro headwinds and the “over-rotation” of sales to its Contact Center as a Service (“CCaaS”) market. On an earnings call in September 2023, CEO Ragy Thomas stated that the Company’s investments in AI and the CCaaS opportunity were main contributors to its customer growth. Subsequently, in March several changes were made to the Company’s C-level positions. Analysts commenting on the reduced estimates mention surprise at the timing and shift in the Company’s sales strategy. Following this news, Sprinklr’s stock price fell by $5.59 per share, or approximately 34% to close at $11.11 per share. On June 5, 2024, Sprinklr again announced significantly reduced growth expectations, this time cutting fiscal year 2025 projections another three percent, down to a mere 7% annual growth, again attributing the losses to reduced customer retention in Sprinklr’s core business and macro headwinds. The price of Sprinklr’s common stock declined dramatically. 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.

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Certification of Plaintiff Pursuant to Federal Securities Laws

I, duly certify and say, as to the claims asserted under the federal securities laws, that:

  1. I have reviewed a complaint filed in the action.
  2. I did not purchase the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this action.
  3. I am willing to serve as a representative party on behalf of the class, including providing testimony at deposition and trial, if necessary.
  4. My transaction(s) in Sprinklr, Inc. which are the subject of this litigation during the class period set forth in the complaint are set forth in the chart attached hereto.
  5. Within the last 3 years,
  6. I will not accept any payment for serving as a representative party on behalf of the class beyond the Plaintiff's pro rata share of any recovery, except as ordered or approved by the court, including any award for reasonable costs and expenses (including lost wages) directly relating to the representation of the class.

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Signed pursuant to California Civil Code Section 1633.1, et seq. - and the Uniform Electronic Transactions Act as adopted by the various states and territories of the United States.

By your signature above, you confirm that have retained Levi & Korsinsky, LLP to represent you and the shareholder class as a lead plaintiff in the pending class action against Sprinklr, Inc. This representation will be on a contingency basis, meaning that Levi & Korsinsky will advance all expenses in the litigation and will only seek compensation and/or reimbursement of expenses if the firm obtains a recovery. Regardless of the result, we will never ask you to directly pay for any attorneys’ fees, expenses, or costs. Should we obtain a favorable result, we may ask the court to award us compensation and reimbursement of expenses to be paid by the defendants or as a portion of any class recovery. In exchange for our representation, you agree to cooperate as our client by providing, for example, relevant documents and deposition testimony, if necessary. During the course of this litigation, we may employ and/or work with other law firms, experts, and third-parties to successfully prosecute this action. If you are not appointed as the lead plaintiff or Levi & Korsinsky is not appointed as lead counsel, we will notify you of such decision at which time this representation will end unless otherwise extended by you and the firm. We look forward to working with you towards a successful resolution of this action.

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