Governance & Derivative

Cerence Inc. (NasdaqGS: CRNC)

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF continues its investigation into Cerence Inc. (NasdaqGS: CRNC).

On November 22, 2021, the Company disclosed revenue guidance for the first quarter and full fiscal year 2022 well below analysts’ expectations. On February 7, 2022, the Company announced its results for 1Q2022 ended on December 31, 2021, disclosing that the “conversion from bookings to revenue will take longer than expected” and as a result, it was forced to lower its fiscal year 2022 guidance and completely withdraw its fiscal year 2024 guidance. Further, the Company disclosed the retirement of CFO Mark Gallenberger, effective March 11, 2022.

The Company was subsequently sued in a securities class action lawsuit for failing to disclose material information, violating federal securities laws, which remains ongoing. Recently, the court presiding over that case denied the Company’s motion to dismiss, allowing the case to move forward.

KSF’s investigation is focusing on whether Cerence’s officers and/or directors breached their fiduciary duties to the Company’s shareholders or otherwise violated state or federal laws. If you have information that would assist KSF in its investigation, or have been a long-term holder of Cerence shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or fill out the form on this page.

Kahn Swick & Foti, LLC Privacy Policy

This privacy notice applies to www.ksfcounsel.com and all other websites on the World Wide Web owned or operated by Kahn Swick & Foti. It explains how we collect, use, process and share personal data we collect about you when you visit this website, including in connection with potential or actual representation of you by Kahn Swick & Foti. This notice is in accordance with European Data Protection laws (including the General Data Protection Regulation, effective May 25, 2018, as well as other country-specific laws that may be applicable).

This website is not intended for children and we do not knowingly collect personal data related to children.

What Information Do We Collect About You?

Personal data includes any information about an individual that could be used to identify them.

Kahn Swick & Foti collects, uses, stores and transfers different kinds of personal information about you, such as:

“Contact Data” – includes your work address, email address and telephone numbers;
“Identity Data” – including your first name, last name and/or title;
“Marketing Data” – including your marketing and communications preferences;
“Profile Data” – including information collected when you visit our site, such as the site that referred you to our site, pages you visit, actions you take on the site, and information you provide through the site;
“Technical Data” – including information about your internet protocol (IP) address, browser type and version, time zone setting and location, browser plug-in types, operating system and platform, and other technology on the devices you are using; and
“Usage Data” – information about how you use our website.

How Do We Collect Information About You?

We collect information about you in the following ways:

Direct interactions – You provide us with your Contact Data, Identity Data and Profile Data directly when you visit our website, for example, when you register for an event, subscribe to receive publications, request marketing materials, submit a form, provide feedback, and send us an email message and/or attachments.
Automated means – We receive Technical Data automatically by using cookies, server logs and other similar technologies.
Third parties or publicly available sources – We receive Technical Data from analytics providers such as Google.

How Will We Use Information We Collect About You?

We will only use your personal data in ways permitted by law, which may or may not include consent, depending on the type of data obtained. Any information you submit to us may be used to communicate with you regarding the matter or case for which you provided the information, as well as to communicate with you regarding unrelated matters or cases.

We take appropriate security measures to protect against unauthorized access to or unauthorized alteration, disclosure or destruction of data. These include internal reviews of our data collection, storage and processing practices, and security measures, including appropriate encryption and physical security measures to guard against unauthorized access to systems where we store personal data.

In circumstances where you provide us with personal information in connection with a matter in which we are representing you, we may share such information with contractors or agents we employ in the course of our investigations or casework with your consent. In doing so, we restrict access to personal data to firm employees, contractors, and agents who need to know that information to process it on our behalf. These individuals are bound by confidentiality obligations and may be subject to discipline, including termination and criminal prosecution, if they fail to meet these obligations. We may also share the personal information if we have a good faith belief that access, use, preservation, or disclosure of such information is reasonably necessary to satisfy any applicable law, regulation, legal process or enforceable governmental request.

Marketing

We aim to provide you with choices regarding the use of your data for marketing purposes. We will not use your personal data to send you marketing materials if you have requested not to receive them.

If you do not wish to receive marketing materials and/or would like to request that we stop processing your personal data for marketing purposes, you may submit a request to info@ksfcounsel.com.

Access to Your Information and Correction

EU residents may have certain rights under European data protection law governing the personal data that Kahn Swick & Foti processes, including:

the right to be informed;
the right of access;
the right to rectification;
the right to restrict processing;
the right to data portability;
the right to object; and
rights in relation to automated decision making and profiling.

To exercise these rights with respect to any data provided to Kahn Swick & Foti, please contact us. All requests will be dealt with in accordance with the law.

Your California Privacy Rights

California Civil Code §1798.83 permits our clients who are California residents to request certain information regarding our disclosure of personal information to third parties for their direct marketing purposes.

Cookies

A “cookie” is a piece of data sent from a website and stored on the user’s computer by the user’s web browser while the user is browsing. Cookies are then sent back to the originating website on every subsequent visit, or another website that recognizes that cookie. Cookies are useful because they allow a website to recognize a user’s device, preferences, and to help improve the user’s online experience.

Kahn Swick & Foti uses cookies on its website. The cookie contains a short, unique alphanumeric string that helps us recognize a specific user, which helps us improve the user’s online experience and personalize the site. For example, certain confirmation pages may display the name users provide to us. By using our website, you agree that we can place these types of cookies on your device.

If you prefer not to receive cookies, you can change your browser settings to turn off the use of cookies. If you choose to turn off cookies, it is possible that some areas of the website will not function properly. Please refer to your browser’s Help function for specific information on how to turn off cookies.

Data Retention and Storage

All data collected through this website, including data submitted by you, will be stored in the United States. Please note that, should you wish to submit personal data protected under European data protection law (other than for purposes of responding to your inquiry), you should contact us prior to submitting such data to discuss options.

We will only retain your personal data for as long as necessary to satisfy the purpose for which it was collected. Examples include satisfying legal, regulatory, accounting, reporting requirements and/or executing legal work for which we were retained by you. The specific retention period applicable to the type of data obtained will depend upon a variety of factors, including the data type, purpose for which it was obtained, and the nature, volume and sensitivity of the personal data, among others. If you would like to know more about data retention, please contact us.

Changes to Our Privacy Policy

Kahn Swick & Foti reserves the right to change this policy at any time by posting a new privacy policy at this location.

How to Contact Us

If you have questions concerning this Privacy Notice, wish to obtain additional information, or exercise specific data subject rights pursuant to European law (including the General Data Protection Regulation, and other country-specific data protection laws that may apply), please contact us.

Topics:

What Information Do We Collect About You?
How Do We Collect Information About You?
How Will We Use Information We Collect About You?
Marketing
Access to Your Information and Correction
Your California Privacy Rights
Cookies
Data Retention and Storage
Changes to Our Privacy Policy
How to Contact Us