NEW YORK, Nov. 1, 2022 (GLOBE NEWSWIRE) — Scott+Scott Attorneys LLP (“Scott+Scott”), an international shareholder and consumer rights law firm, has filed a securities class action lawsuit against Freshworks Inc. FRESH (“Freshworks” or the “Company”), certain directors and officers of the Company and the underwriters of Freshworks’ September 2021 initial public offering (“IPO”) for alleged violations of Sections 11, 12 and 15 of the Securities Act of 1933. If you have purchased Freshworks common stock pursuant to and/or based upon the Company’s registration statement and prospectus (collectively, the “Offering Documents”) issued in connection with the Company’s IPO, please contact Scott+Scott’s attorney , Jonathan Zimmerman, at (888) 398-9312 for more information.

Freshworks provides customer engagement software for businesses. On or about September 22, 2021, Freshworks completed its initial public offering, offering to the investing public 28.5 million shares of common stock at a price of $36 per share (the “Offer Price”).

According to the Complaint filed and labeled in the US District of California, Northern District Sundaram v Freshworks Inc. et al., Case No. 3:22-cv-6750, the offering documents used to conduct Freshworks’ IPO were false and misleading and failed to indicate that the company’s business had encountered obstacles at the time of the offering. As a result, Freshworks’ net dollar retention rate stagnated, and its revenue growth rate and billings slowed. When the truth about the company’s business broke, the value of its shares fell dramatically, causing significant damage to Freshworks’ investors. In fact, Freshworks shares were trading at just $10.51 per share at the start of the lawsuit, down over 70% from the offer price.

Deadline for Lead Plaintiff

The deadline for lead plaintiff in this lawsuit is January 3, 2023. Any member of the proposed class may seek to serve as lead plaintiff…