-

CERENCE INVESTIGATION CONTINUED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of Cerence Inc. - CRNC

NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF continues its investigation into Cerence Inc. (NasdaqGS: CRNC).

On November 22, 2021, the Company disclosed revenue guidance for the first quarter and full fiscal year 2022 well below analysts’ expectations. On February 7, 2022, the Company announced its results for 1Q2022 ended on December 31, 2021, disclosing that the “conversion from bookings to revenue will take longer than expected” and as a result, it was forced to lower its fiscal year 2022 guidance and completely withdraw its fiscal year 2024 guidance. Further, the Company disclosed the retirement of CFO Mark Gallenberger, effective March 11, 2022.

The Company was subsequently sued in a securities class action lawsuit for failing to disclose material information, violating federal securities laws, which remains ongoing. Recently, the court presiding over that case denied the Company’s motion to dismiss, allowing the case to move forward.

KSF’s investigation is focusing on whether Cerence’s officers and/or directors breached their fiduciary duties to the Company’s shareholders or otherwise violated state or federal laws.

If you have information that would assist KSF in its investigation, or have been a long-term holder of Cerence shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-crnc/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contacts

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850

Industry:

Kahn Swick & Foti, LLC

NASDAQ:CRNC
Release Versions
English

Contacts

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850

More News From Kahn Swick & Foti, LLC

Centessa Pharmaceuticals Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Centessa Pharmaceuticals plc - CNTA

NEW YORK CITY & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Centessa Pharmaceuticals plc (NasdaqGS: CNTA) to Eli Lilly and Company (NYSE: LLY). Under the terms of the proposed transaction, shareholders of Centessa will receive $38.00 in cash per share plus one non-transferrable contingent value right entitling the holder to receive up to an aggregate of...

Apellis Pharmaceuticals Investor Alert: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Apellis Pharmaceuticals, Inc. - APLS

NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Apellis Pharmaceuticals, Inc. (NasdaqGS: APLS) to Biogen Inc. (NasdaqGS: BIIB). Under the terms of the proposed transaction, shareholders of Apellis will receive $41.00 per share in cash and a nontransferable contingent value right for the right to receive two payments of $2.00 per share each, contin...

McCormick & Co Investor Alert: Kahn Swick & Foti, LLC Investigates Merger of McCormick & Company, Incorporated - MKC

NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed merger of McCormick & Company, Incorporated (NYSE: MKC) and Unilever PLC’s (NYSE: UL) Foods business (excluding India and other excluded businesses). Under the terms of the merger agreement, upon closing of the proposed transaction, McCormick shareholders will own 35.0% of the combined company. KSF is seeking to d...
Back to Newsroom