Cerence Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
On November 22, 2021, the Company revealed that its revenue forecasts for the first quarter and the entire 2022 fiscal year were significantly below what analysts had predicted. Then, on February 7, 2022, it reported its first-quarter results for the period ending December 31, 2021, noting that turning bookings into revenue would take more time than initially anticipated. Consequently, this led to a reduction in its revenue expectations for the 2022 fiscal year and the complete withdrawal of its forecasts for the 2024 fiscal year. Additionally, the Company announced CFO Mark Gallenberger’s retirement, set for March 11, 2022.
Following these events, the Company faced a securities class action lawsuit for not disclosing important information and for breaching federal securities laws, a case that is still in progress. Recently, the court overseeing this lawsuit rejected the Company’s request to dismiss the case, thereby allowing the litigation to proceed.
