BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of E2open Parent Holdings, Inc. (“E2open” or the “Company”) (NYSE: ETWO) investors concerning the Company’s possible violations of federal securities laws.
On October 10, 2023, after the market closed, the Company announced its fiscal 2024 second quarter financial results. The Company reported second-quarter earnings of four cents per share, falling short of the analyst consensus estimate of five cents, and a 20% decrease compared to earnings of five cents per share in the same period last year. The Company also cut its fiscal year 2024 projected revenue from $655M-$670M to $625M-$635M, a decrease of $30M-$35M.
The same day, the Company announced the departure of Michael A. Farlekas who had been serving as the Company’s Chief Executive Officer.
On this news, E2open’s stock price fell $2.20, or 50.1%, to close at $2.19 per share on October 11, 2023, thereby injuring investors.
If you purchased E2open 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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