The Law Offices of Frank R. Cruz announces an investigation of Sprout Social, Inc. ("Sprout Social" or the "Company") (NASDAQ: SPT) on behalf of investors concerning the Company's possible violations of federal securities laws.

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On May 2, 2024, Sprout Social released its first quarter 2024 financial results, missing the Company's prior guidance and lowering its 2024 outlook by approximately $20 million. The Company explained that its transition to enterprise set it back and that "there were execution headwinds that were self-induced."

On this news, Sprout Social's stock price fell $19.33, or 40.1%, to close at $28.82 per share on May 3, 2024, thereby injuring investors.

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If you purchased Sprout Social securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240507057845/en/

SOURCE: The Law Offices of Frank R. Cruz

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The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com 
www.frankcruzlaw.com

COMTEX_452031781/1006/2024-05-07T20:07:01