NEW YORK, July 31, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Sprinklr, Inc. (NYSE: CXM), Target Hospitality Corp. (NASDAQ: TH), Helios Technologies, Inc. (NYSE: HLIO), LegalZoom.com, Inc. (NASDAQ: LZ). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Sprinklr, Inc. (NYSE: CXM)
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 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.
On this news, Sprinklr's stock price fell by $5.59 per share, or approximately 34% to close at $11.11 per share.
For more information on the Sprinklr investigation go to: https://bespc.com/cases/CXM
Target Hospitality Corp. (NASDAQ: TH)
On June 10, 2024, Target Hospitality issued a press release announcing that it had "received notice that the U.S. government intends to terminate the existing South Texas Family Residential Center ('STFRC') services agreement with Target's migrant programming partner ('STFRC Partner'), effective in 60 days, or on or about August 9, 2024 ('Effective Date')." Target Hospitality stated that it "intends to provide operational and financial updates giving effect to the termination prior to June 30, 2024."
On this news, Target Hospitality's stock price fell $3.305 per share, or 31.48%, to close at $7.195 per share on June 11, 2024.
For more information on the Target Hospitality investigation go to: https://bespc.com/cases/TH
Helios Technologies, Inc. (NYSE: HLIO)
On July 9, 2024, Helios formally announced that Josef Matosevic, who serves as the Company’s President, Chief Executive Officer, and Director, was placed on an immediate paid leave, effective retroactively from July 1, 2024. This administrative action arose in response to allegations suggesting a potential violation of the Company’s Code of Business Conduct and Ethics. The Company has initiated an internal investigation to thoroughly examine the circumstances surrounding these allegations.
For more information on the Helios investigation go to: https://bespc.com/cases/HLIO
LegalZoom.com, Inc. (NASDAQ: LZ)
On July 9, 2024, LegalZoom issued a press release announcing that “[t]he Company is reducing its revenue expectation for the full year to a range of $675 million to $685 million and its free cash flow expectation for the full year to a range of $75 million to $85 million.” In the same press release, the Company announced that “current Chief Executive Officer Dan Wernikoff will be departing the Company, including resigning from the Board.”
On this news, multiple analysts downgraded LegalZoom, and the Company’s stock price fell $1.99 per share, or 25.35%, to close at $5.86 on July 10, 2024.
For more information on the LegalZoom investigation go to: https://bespc.com/cases/LZ
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
