Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Freshworks Inc. (NASDAQ: FRSH) on behalf of long-term stockholders following a class action complaint that was filed against Freshworks on November 1, 2022, with a Class Period from September 21, 2021 to November 1, 2022. Our investigation concerns whether the board of directors of Freshworks have breached their fiduciary duties to the company.
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 fourth quarter 2021 financial results, reporting flat calculated billings growth and revenue growth deceleration (of only 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, thereby injuring investors.
Then, on May 3, 2022, after market hours, Freshworks reported its first quarter 2022 financial results, disclosing a third quarter of decelerating revenue growth and billings that missed consensus estimates and declined 13% quarter over quarter.
On this news, the Company’s stock fell $0.97, or 5.7%, over two consecutive trading days, to close at $15.99 per share on May 5, 2022, thereby injuring investors further.
If you are a long-term stockholder of Freshworks, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. 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.