SAN FRANCISCO, Nov. 04, 2022 (GLOBE NEWSWIRE) — Hagens Berman is urging Freshworks Inc. FRESH Investors who have suffered significant losses Submit your losses now.

school lesson: Sept 21, 2021 – Nov 1, 2022
Deadline for lead plaintiff: January 3, 2023
Visit: www.hbsslaw.com/investor-fraud/FRSH
Contact a lawyer now: FRSH@hbsslaw.com
844-916-0895

Freshworks Inc. FRESH Securities Class Action:

The litigation focuses on defendants’ misrepresentations and omissions in connection with Freshworks’ September 2021 public offering (“IPO”), in which the Company sold 28.5 million shares at $36 per share for gross proceeds of over $1 billion achieved USD.

Notably, Freshworks’ IPO registration statement repeatedly touted the significant increase in the company’s “net dollar retention rate” (a measure of the rate of expansion within its customer base) and annual revenue growth rate.

According to the complaint, the IPO registration statement misled investors as it failed to disclose the company’s business, which had encountered significant obstacles, causing Freshworks’ net dollar retention rate to stagnate and revenue growth rate to decline and the accounts slowed down.

The truth started hitting the market on February 10, 2022 when the company reported earnings for the fourth quarter of 2021, which included flat-rate growth in billings and a slowdown in revenue growth. In response, Freshworks stock fell about 18%.

Then, on May 3, 2022, Freshworks reported its first quarter 2022 results, which included another quarter of slowing revenue growth and billings that missed consensus estimates. In response, Freshworks stock fell again.

At the start of the lawsuit, the stock was trading at just $10.51 per share, down 70% from its IPO price.

“We are focused on investor losses and evidence that Freshworks misled investors about its slowing growth,” said Reed Kathrein, the partner at Hagens Berman who led the investigation.

If you have invested in Freshworks and are experiencing significant losses or…