LOS ANGELES, July 10, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Sprout Social, Inc. ("Sprout" or "the Company") (NASDAQ: SPT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company's securities between November 2, 2023 and May 2, 2024, inclusive (the "Class Period"), are encouraged to contact the firm before July 12, 2024. 

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Sprout's sales growth was not indicative of its future growth as it moved towards an enterprise sales cycle. The Company failed to effectively integrate its Tagger integration. The Company faced "self induced sales headwinds." The Company would be forced to revise fiscal year 2024 revenue guidance. Based on these facts, the Company's public statements were false and materially misleading. When the market learned the truth about Sprout, investors suffered damages.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
info@schallfirm.com

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SOURCE The Schall Law Firm