Class action lawsuits filed against Freshworks for misleading investors

November 3, 2022

, By Team SNFYI

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Freshworks has taken a major hit after US-based litigation firms Scott + Scott Attorneys and The Schall Law firm filed lawsuits against the SaaS giant for providing ‘false and misleading’ documents during its Nasdaq listing.

While Scott+Scott Attorneys filed a securities class action lawsuit, Schall Law Firm filed a Freshworks class action lawsuit. According to one of the lawsuits, Freshworks’ IPO documents omitted the fact that the company’s business was experiencing financial ‘obstacles.’ The lawsuits were filed against Freshworks, as well as certain directors, officers, and underwriters of the company’s September 2021 IPO. Despite continuing market rout, the company reported a $58 million loss in Q2 FY23.

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Class action lawsuits filed against Freshworks for misleading investors

November 3, 2022

, By Team SNFYI

Freshworks has taken a major hit after US-based litigation firms Scott + Scott Attorneys and The Schall Law firm filed lawsuits against the SaaS giant for providing ‘false and misleading’ documents during its Nasdaq listing.

While Scott+Scott Attorneys filed a securities class action lawsuit, Schall Law Firm filed a Freshworks class action lawsuit. According to one of the lawsuits, Freshworks’ IPO documents omitted the fact that the company’s business was experiencing financial ‘obstacles.’ The lawsuits were filed against Freshworks, as well as certain directors, officers, and underwriters of the company’s September 2021 IPO. Despite continuing market rout, the company reported a $58 million loss in Q2 FY23.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News

Instagram will soon allow a select group of creators to create and sell NFTs directly within the app

Next News

Electric mobility tech platform MoEVing raised $2.5 million from JSW Ventures

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