#United States #New York #Class Action #Faruqi & Faruqi #Manhattan Associates

Faruqi & Faruqi Alert for Manhattan Associates Investors

Faruqi & Faruqi, LLP, a prominent national law firm specializing in securities litigation, is actively reminding investors of the April 28, 2025 deadline associated with a pending class action lawsuit against Manhattan Associates, Inc.. If you are one of the investors who have suffered losses exceeding $100,000 between July 24, 2024, and February 7, 2025, this could be crucial information for you.

Overview of the Class Action Lawsuit

The legal action against Manhattan Associates arises from allegations that the company and some of its executives engaged in practices that violated federal securities laws. Notably, they reportedly made statements that misled investors about the company's expected revenue for the fiscal year 2025.

The complaint details how the defendants expressed confidence concerning the company's ability to forecast revenue despite adverse macroeconomic factors. They cited optimistic growth potential in professional services and expected cloud revenue as a significant contributor to earnings. However, these assertions quickly fell apart when the company's actual financial results contradicted this positive outlook.

Key Events and Stock Impact

On January 28, 2025, Manhattan Associates disclosed its fourth-quarter results, revealing reduced revenue expectations for the upcoming fiscal year. This announcement outlined a significant shift in their professional services work as well as reduced customization and increased reliance on partner usage. Following this disappointing news, the stock plummeted nearly 24.5%, falling from a closing price of $295.10 to $222.84 in just one day.

The situation worsened on February 10, 2025, when the company revealed that its chief executive officer was retiring. This news led to a further decline in stock value, dropping another 11.5%, landing at $177.70 per share.

The Role of the Lead Plaintiff

In this class action, a lead plaintiff will be chosen from among those who have suffered substantial losses. This individual will represent the interests of all class members and have a say in directing the course of the litigation. It's important to note that one does not have to be a lead plaintiff to benefit from any potential recovery from the lawsuit.

Faruqi & Faruqi encourages investors who qualify or those possessing additional critical information related to Manhattan Associates to reach out to them. This outreach includes whistleblowers, former employees, and shareholders who can provide insights into the company’s operations and conduct leading up to the alleged violations.

How to Get Involved

Eligible investors are urged to act quickly, as the April 28, 2025, deadline is fast approaching. To discuss your legal rights or to become involved in this action, you should contact James (Josh) Wilson, a partner at Faruqi & Faruqi, directly at 877-247-4292 or 212-983-9330 (Ext. 1310). For more detailed information, you can visit their website or consult their page related to the Manhattan Associates class action at Faruqi & Faruqi.

Conclusion

As this situation continues to unfold, affected investors may still have options available for recovering losses incurred. Keeping abreast of developments in the case is vital, as the consequences of these allegations can impact not only the financial aspects for investors but also the credibility of Manhattan Associates in the eyes of shareholders and stakeholders alike. Stay informed, and don’t miss the opportunity to assert your rights as part of this collective effort against perceived injustices in the corporate sphere.