Shareholder Alert: Robbins LLP Informs Investors of the Manhattan Associates, Inc. Class Action
PRNewswire 26-Feb-2025 8:43 PM
SAN DIEGO, Feb. 26, 2025 /PRNewswire/ -- Robbins LLP informs stockholders that a class action was filed on behalf of investors who purchased or otherwise acquired Manhattan Associates, Inc. (NASDAQ:MANH) securities between October 22, 2024 and January 28, 2025. Manhattan Associates is a global company that develops, sells, deploys, services, and maintains software solutions for the purpose of assisting in the management of supply chains, inventory, and omnichannel operations for its customers.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Manhattan Associates, Inc. (MANH) Misled Investors Regarding its Growth Potential
According to the complaint, during the class period, defendants provided investors with material information concerning Manhattan Associates' expected revenue for the fiscal year 2025. Defendants' statements included, among other things, confidence in the Company's ability to forecast guidance despite macroeconomic fluctuations, the growth potential of their professional services offerings, and the ability for their cloud revenue to drive revenue for its professional services Notwithstanding these positive statements, defendants purportedly failed to disclose the true state of Manhattan Associates' forecasting ability for its professional services; notably, the Company was either not truly equipped to deliver "responsible targets" for growth or, otherwise, Manhattan Associates' services were not equipped to achieve such targets.
The complaint alleges that on January 28, 2024, Manhattan Associates published its financial results for the fourth quarter and full fiscal year 2024 and announced reduced revenue guidance for the full fiscal year 2025. The Company attributed its results and lowered guidance on the "shift in professional services work to future periods . . . and to a lesser extent, reduced customization and higher partner utilization." On this news, the price of Manhattan Associates' common stock declined from $295.10 per share on January 28, 2025, $222.84 per share on January 29, 2025, a decline of over 24%.
What Now: You may be eligible to participate in the class action against Manhattan Associates, Inc. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by April 28, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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SOURCE Robbins LLP
