Overview

A class action lawsuit has been filed against Sprinklr, Inc. (“Sprinklr” or the “Company”) (NYSE: CXM) and certain of the Company’s former and current senior executive officers alleging violations of the federal securities laws.  The Sprinklr class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Sprinklr securities between March 29, 2023, and June 5, 2024, both dates inclusive (the “Class Period”).  Investors have until October 15, 2024, to seek appointment as lead plaintiff of the Sprinklr class action lawsuit.

Sprinklr is a software company that provides artificial intelligence-based “Customer Experience Management” platforms for its clients’ customer-facing teams.  Its products help their clients provide customer service across various platforms and in different capacities.  Sprinklr’s CCaaS (Contact Center as a Service) product suite commenced in earnest in or around the second quarter of 2022 (ending June 30, 2021).  Over the following two fiscal years, Spinklr invested heavily in the CCaaS segment.  Unbeknownst to investors, the Company’s investment in CCaaS was at the expense and/or to the detriment of Spinklr’s other business.

The Sprinklr class action lawsuit alleges that Defendants misled investors by continually providing projections which failed to account for the difficulties in the implementation of scaling their new product and/or otherwise failed to adequately disclose the fact that the Company at that time did not have adequate forecasting processes.

On December 6, 2023, Sprinklr announced significantly reduced growth expectations of only 2.5% per quarter for the next five quarters beginning with the fourth quarter of fiscal year 2024, resulting in a collectively shallow 10% growth projected for fiscal year.  On this news the price of Sprinklr’s common stock declined from a closing market price of $16.70 per share on December 6, 2023, to $11.11 per share on December 7, 2023.

On June 5, 2024, Sprinklr again announced significantly reduced growth expectations, cutting fiscal year 2025 projections another 3%, down to only 7% annual growth, and further withdrawing fiscal year 2027 targets.  On this news the price of Sprinklr’s common stock declined from a closing market price of $10.84 per share on June 5, 2024, to $9.20 per share on June 6, 2024.

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If you purchased or otherwise acquired Sprinklr securities between March 29, 2023, and June 5, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as a lead plaintiff in the Sprinklr class action lawsuit is October 15, 2024.