MANH INVESTOR ALERT: Bronstein, Gewirtz & Grossman LLC Announces that Manhattan Associates, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit

/EIN News/ -- NEW YORK, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Manhattan Associates, Inc. (“Manhattan Associates” or “the Company”) (NASDAQ: MANH) and certain of its officers.

Class Definition

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Manhattan Associates securities between October 22, 2024 and January 28, 2025, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/MANH.

Case Details

The Complaint alleges that throughout the Class Period, Defendants provided investors with material information concerning Manhattan Associates’ expected revenue for the fiscal year 2025. Specifically, the Complaint alleges that Defendants’ statements included, among other things, confidence in the Company’s ability to forecast guidance despite macroeconomic fluctuations, the growth potential of their professional services offerings, and the ability for their cloud revenue to drive revenue for its professional services.

On January 28, 2025, Manhattan Associates issued a press release reporting its financial results for the fourth quarter and full year 2024. Among other items, the Company disclosed services revenue of $119.5 million for the quarter, growing by only 0.3% compared to the year-ago quarter and falling approximately $2 million short of the guidance provided in October 2024. Manhattan Associates attributed the results to delays in professional services work and deferred deals, predicting that the Company’s services revenue would reach a low point in the first quarter of 2025 and that solid revenue growth would not resume until mid-year. Manhattan Associates further revealed emerging challenges in its services business, noting that around 10% of customers with ongoing implementations had scaled back their planned services work for the upcoming calendar and fiscal year. The Company also announced that its 2025 revenues would see modest growth of just 2% to 3%, while GAAP EPS was expected to decline by 10% to 13%. On this news, Manhattan Associates’ stock price fell $72.26 per share, or 24.49%, to close at $222.84 per share on January 29, 2025. Then, on February 10, 2025, Manhattan Associates announced that Eddie Capel, Manhattan’s President and Chief Executive Officer, would retire from those positions effective February 12, 2025. On this news, Manhattan Associates’ stock price fell $23.20 per share, or 11.55%, to close at $177.70 per share on February 10, 2025.

What's Next?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/MANH. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Manhattan Associates you have until April 28, 2025, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

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Contact

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | info@bgandg.com