Sprinklr Shareholders Drop Board Suit Over Core Product Shift

Sprinklr Inc. stockholders released the communication software company’s leaders from a lawsuit alleging they concealed shifting resources away from its main line of business.

The shareholders said they were voluntarily dismissing their derivative claims after the US District Court for the Southern District of New York tossed the proposed class action they were based on. Judge Lorna G. Schofield signed the order dropping the derivative suit Wednesday—over a month after she dismissed the related proposed class action, saying the investors leading that case failed to allege misstatements or omissions tied to Sprinklr reprioritizing resources toward its contact-center-as-a-service offering.

• Sprinklr properly ...