The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Cerence Inc. (NASDAQ: CRNC) who purchased shares between February 8, 2021 and February 4, 2022. The action, which was filed in the United States District Court for the District of Massachusetts, alleges that the Company violated federal securities laws.
In particular, the Cerence Inc. lawsuit alleges that (1) the global semiconductor shortage had a materially negative impact on demand for Cerence’s software licenses; (2) defendants masked the impact of the semiconductor shortage on demand for the Company’s software licenses by pulling forward sales; and (3) as a result of the above, defendants’ statements about Cerence’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
Shareholders have until April 26, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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