Pomerantz LLP is investigating claims on behalf of investors of Cerence Inc. Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Cerence and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 7, 2022, Cerence issued a press release announcing its financial results for the first quarter of fiscal year 2022. Among other items, Cerence reported revenue of $94.4 million, falling short of consensus estimates by approximately $700,000. Separately, Cerence announced the retirement of Company Chief Financial Officer Mark Gallenberger, effective March 11, 2022.
On this news, Cerence’s stock price fell $19.97 per share, or 31.41%, to close at $43.61 per share on February 7, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, 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.