MANH ALERT: Kirby McInerney LLP Announces the Filing of a Securities Class Action on Behalf of Manhattan Associates, Inc. Investors

Globe Newswire 27-Feb-2025 6:00 PM

NEW YORK, Feb. 27, 2025 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Northern District of Georgia on behalf of those who acquired Manhattan Associates, Inc. ("Manhattan" or the "Company") (NASDAQ:MANH) securities during the period from October 22, 2024, through January 28, 2025 ("the Class Period"). Investors have until April 28, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit.

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On January 28, 2025, Manhattan 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 shares declined by $72.26 per share, or approximately 24%, from $295.10 per share on January 28, 2025, to close at $222.84 on January 29, 2025.

The complaint alleges that defendants, throughout the Class Period, failed to disclose the true state of Manhattan's forecasting ability for its professional services; notably, the Company was either not truly equipped to deliver "responsible targets" for growth or, otherwise, Manhattan's services were not equipped to achieve such targets.

If you purchased or otherwise acquired Manhattan securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters without any cost to you.

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Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP's website.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com