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Freshworks Inc.

Case Details

Class Period: September 19, 2021 - November 1, 2022
Date Filed: November 01, 2022
Case Number: 3:22cv06750
Jurisdiction: California Northern District Court
icon-casetype Case Type: Securities Case
Days Left to
Seek Plaintiff:
27

Case Summary

According to the complaint filed in the U.S. District of California, Northern District and captioned Sundaram v. Freshworks Inc. et al., Case No. 3:22-cv-6750, the Offering Documents used to effectuate Freshworks’ IPO were false and misleading and omitted to state that, at the time of the offering, the Company’s business had encountered obstacles. As a result, Freshworks’ net dollar retention rate was plateauing, and its revenue growth rate and billings were decelerating. As the truth about the Company’s business reached the market, the value of its shares declined dramatically, causing Freshworks investors to suffer significant damages. Indeed, by the commencement of the action, Freshworks’ shares traded as low as $10.51 per share, representing a decline of over 70% from the Offering Price.

Documents
Complaint