| COMPANY |
Freshworks Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
22-cv-06750 |
| JUDGE |
The Hon.Charles R. Breyer |
| CLASS PERIOD |
September 22, 2021 and November 1, 2022 |
| SECURITY TYPE |
Common Stock |
Case Background:
This is a class action lawsuit on behalf of those who purchased or acquired Freshworks Inc. (“Freshworks”) (NASDAQ: FRSH) common stock pursuant and/or traceable to the Registration Statement and related Prospectus (collectively, the “Offering Documents”) issued in connection with Freshworks’s September 2021 initial public offering (the “IPO”).
The complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material facts or omitted to state other facts necessary to make the statements made not misleading, and were not prepared in accordance with the rules and regulations governing their preparation. The Offering Documents omitted to state that, at the time of the IPO, Freshworks's net dollar retention rate had plateaued while its revenue growth rate and billings were, in fact, decelerating.
Current Status of Case:
On September 28, 2023, the Court granted in part and denied in part Defendants’ Motion to Dismiss. The Defendants have filed Answers to the Amended Complaint. Defendants filed a Motion for Judgment on the Pleadings on July 12, 2024. The Motion has been fully briefed and is pending the Court’s decision. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.