NEW YORK, Nov. 21, 2022 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Freshworks Inc. ("Freshworks or the "Company") (NASDAQ: FRSH). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Freshworks and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around September 22, 2021, Freshworks conducted its initial public offering ("IPO"), offering 28.5 million shares of its common stock to the investing public at a price of $36 per share (the "Offering Price"). According to the IPO's offering documents (the "Offering Documents"), Freshworks' business had "grown rapidly" in the lead up to the IPO and the Company observed "broad appeal of [its] products to customers of all sizes and geographies." Consequently, the Company's growth rates and purportedly "healthy" net dollar retention rates reached levels not previously achieved, and there was no indication that either was decelerating. However, the Offering Documents failed to disclose that at the time of the IPO, Freshworks' revenue growth and billings had encountered significant obstacles. As the truth about Freshworks' business and operations came to light after the IPO, the Company's share price fell sharply, damaging investors.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP