Sprinklr Inc. Faces Multiple Class Action Lawsuits Over Alleged Securities Violations

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Several law firms have announced investigations and class action lawsuits against Sprinklr Inc., alleging violations of federal securities laws. Shareholders are encouraged to seek lead plaintiff status before the October 15, 2024 deadline.

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Legal Actions Against Sprinklr Inc.

Sprinklr Inc. (NYSE: CXM), a customer experience management platform provider, is facing a series of class action lawsuits and investigations over alleged violations of federal securities laws. Multiple law firms have announced their involvement in these legal proceedings, urging affected shareholders to come forward

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Allegations and Class Period

The lawsuits allege that Sprinklr made materially false and misleading statements and/or failed to disclose important information to investors. The class period for these actions is generally defined as between June 15, 2021, and June 13, 2023, inclusive

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. During this time, plaintiffs claim that the company's artificial intelligence (AI) products were not as effective or efficient as Sprinklr had represented, potentially impacting the company's financial performance and outlook.

Key Players and Legal Firms

Several prominent law firms are involved in these legal actions:

  1. Faruqi & Faruqi, LLP is investigating potential claims against Sprinklr

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  2. Levi & Korsinsky, LLP has filed a class action lawsuit against the company

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  3. Bronstein, Gewirtz & Grossman, LLC is investigating Sprinklr for potential violations of federal securities laws

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  4. The Gross Law Firm has also announced its involvement in the legal proceedings

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Lead Plaintiff Deadline and Shareholder Rights

A crucial date for affected shareholders is October 15, 2024, which has been set as the deadline for seeking appointment as lead plaintiff in the class action lawsuit

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. Shareholders who purchased or acquired Sprinklr securities during the specified class period are encouraged to contact the involved law firms to discuss their legal rights and potential participation in the lawsuit.

Implications for Investors

These legal actions highlight the importance of corporate transparency and the potential risks associated with investing in companies heavily reliant on emerging technologies like AI. Shareholders of Sprinklr and potential investors are advised to stay informed about the progress of these lawsuits and their potential impact on the company's financial standing and market position.

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