SAN DIEGO, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Freshworks Inc. (NASDAQ: FRSH) (“Freshworks” or the “Company”). The class action is on behalf of shareholders who purchased Freshworks pursuant to and/or traceable to the Company’s Registration Statement and Prospectus (collectively, the “Offering Documents”) issued in connection with the Company’s IPO. Investors are hereby notified that they have until January 3, 2023, to move the Court to serve as lead plaintiff in this action.
What actions may I take at this time? If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
To join this action, you can click or copy and paste the link below into a browser:
https://www.johnsonfistel.com/investigations/freshworks-inc-class-action
There is no cost or obligation to you.
According to the Complaint, the Company made false and misleading statements to the market. Freshworks was facing considerable business difficulties at the time of the IPO. The Company’s net dollar retention rate had plateaued, and both the revenue growth rate and billings were slowing down. Based on these facts, the Company’s public statements were false and materially misleading throughout the IPO period. When the market learned the truth about Freshworks, investors suffered damages. When the market learned the truth about Freshworks, investors suffered damages. Freshworks’ shares have traded as low as $10.51 per share, representing a decline of over 70% from the Offering Price.
A lead plaintiff will act on behalf of all other class members in directing the Freshworks class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the Freshworks class action lawsuit is not dependent upon serving as lead plaintiff.
For more information regarding the lead plaintiff process please refer to https://www.johnsonfistel.com/lead-plaintiff-deadlines.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations
jimb@johnsonfistel.com
