NEW YORK, Apr 20, 2024 - (NewMediaWire) - Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of PowerSchool Holdings, Inc. (“PowerSchool” or the “Company”) (NYSE: PWSC). Click Here To Join The Investigation. https://www.kaplanfox.com/join-a-case/
If you are a PowerSchool investor and would like to learn more about our investigation, please click here. You may also contact us by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
On April 17, 2024, Spruce Point Capital Management (“Spruce Point”) issued a report about PowerSchool. Among other things, the Spruce Point report states that “[a]fter conducting a forensic review of [PowerSchool], one of the largest K-12 software providers in North America, we have concerns over the Company’s aggressive accounting practices, unsustainable growth expectations, and sales of a product that may potentially be violating several states’ child privacy laws. We also believe the Board may be conflicted and as a result, may not be serving all shareholders equally.” Further, the Spruce Point report has a section entitled “We Believe PowerSchool’s Revenue And Adjusted Financials Are Inflated By Aggressive Accounting Practices And That It Is Materially More Levered Than It Appears.”
On April 17, 2024, the price of PowerSchool shares fell by $1.94 per share, or 9.83%, to close at $17.79 per share.
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If you have any questions about this investigation, please contact:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
Topic: Press release summary
Source: Kaplan Fox & Kilsheimer LLP
Sectors: Legal & Compliance
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