NEW YORK, Feb. 4, 2025 -- Pomerantz LLP is investigating claims on behalf of investors of Manhattan Associates, Inc. ("Manhattan Associates" or the "Company") (NASDAQ: MANH). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Manhattan Associates and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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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.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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