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NEW YORK–(BUSINESS DATE)–Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, announces that a class action lawsuit has been filed against Freshworks Inc. (“Freshworks” or the “Company”) (NASDAQ: FRSH) in the United States Northern District Court of California on behalf of all persons and entities that purchased or otherwise acquired Freshworks securities between September 21, 2021 and 1 from November 2022, both dates inclusive (the “Class Period”). Investors have until January 3, 2023 to apply to the Court to be appointed as the main plaintiff in the lawsuit.
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In September 2021, Freshworks completed its initial public offering (“IPO”), selling 28.5 million shares of common stock at $36 per share.
On February 10, 2022, Freshworks announced disappointing financial results for the fourth quarter of 2021, reporting flat calculated billings growth and a slowdown in revenue growth (of just 44% year over year).
On this news, the Company’s stock fell $4.05, or 18%, to close at $18.41 per share on February 11, 2022, thus hurting investors.
Then, on May 3, 2022, after market hours, Freshworks reported its financial results for the first quarter of 2022, revealing a third quarter of slowing revenue growth and billings that missed consensus estimates and declined 13% quarter over quarter.
According to this news, the Company’s stock fell $0.97, or 5.7%, for two consecutive trading days, to close at $15.99 per share on May 5, 2022, thus hurting investors further.
If you have purchased or otherwise acquired Freshworks stock and suffered a loss, are a long-term shareholder, have information, would like to learn more about these claims, or have questions about this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, by phone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC 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, derivatives and other complex litigation in state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.
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