The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Freshworks Inc. (NASDAQ: FRSH) who purchased common stock pursuant to and/or traceable to documents issued in connection with the Company’s initial public offering. The action, which was filed in the United States District Court for the Northern District of California, alleges that the Company violated federal securities laws.
According to the complaint, the documents used to effectuate Freshworks’ initial public offering were false and misleading and omitted to state that, at the time of the initial public offering, the Company’s business had encountered obstacles. As a result of these obstacles, Freshworks’ net dollar retention rate was plateauing, and its revenue growth rate and billings were decelerating.
Shareholders have until January 3, 2023 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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