ROSEN, A LEADING NATIONAL FIRM, Encourages Thoughtworks Holding, Inc. Investors to Inquire About Securities Class Action Investigation – TWKS

NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Thoughtworks Holding, Inc. (NASDAQ: TWKS) resulting from allegations that Thoughtworks may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased Thoughtworks’ securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=22590 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [e-mail] or [e-mail] for information on the class action.

WHAT IS THIS ABOUT: On February 12, 2024, Thoughtworks issued a press release announcing its non-reliance on previously issued financial statements. The Company stated its “previously issued unaudited condensed consolidated financial statements as of and for the quarterly periods ended June 30, 2023 and September 30, 2023 (collectively, the “Non-Reliance Periods”) included in the Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission (the “SEC”) for the Non-Reliance Periods, (1) should no longer be relied upon due to an inaccurate presentation of the change in cash flows ascribed to operating activities in the condensed consolidated statement of cash flows, as further described below, and (2) will require restatement. Similarly, any previously issued or filed reports, earnings releases, and investor presentations or other communications describing the Company’s condensed consolidated unaudited financial statements and other related financial information covering the Non-Reliance Periods should no longer be relied upon.”

On this news, Thoughtworks’ stock price fell $0.27, or 6.1%, to close at $4.14 per share on February 13, 2024, the next trading day.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

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