(NASDAQ GS: CRNC)
Rigrodsky Law, P.A. is investigating potential claims against the officers and directors of Cerence Inc. ("Cerence") on behalf of stockholders. A class action complaint has been filed against Cerence, which alleges that defendants made materially false and misleading statements and failed to disclose material adverse facts about Cerence's business, operations, and prospects. Specifically, defendants failed to disclose that: (i) the global semiconductor shortage had a materially negative impact on demand for Cerence's software licenses; (ii) defendants masked the impact of the semiconductor shortage on demand for Cerence's software licenses by pulling forward sales; and (iii) as a result, defendants' statements about Cerence's business, operations, and prospects were false and misleading and/or lacked a reasonable basis.