Sprout Social, Inc. (NASDAQ: SPT)

This lawsuit is for anyone who acquired securities in Sprout Social, Inc. (NASDAQ: SPT) from November 2, 2023 through May 2, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to timely inform investors that the Company would miss guidance.

On May 2, 2024, Sprout Social released its first quarter 2024 financial results, missing the Company’s prior guidance and lowering its 2024 outlook by approximately $20 million. The Company explained that its transition to enterprise set it back and that “there were execution headwinds that were self-induced.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Sprout Social, Inc. (NASDAQ: SPT) November 2, 2023 to May 2, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.