Sundaram

IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA 7 MOHAN R. SUNDARAM, et al., Case No. 22-cv-06750-CRB

Plaintiffs,

ORDER GRANTING MOTION FOR

v.

SUMMARY JUDGMENT

FRESHWORKS INC, et al., Defendants.

Lead Plaintiff Mohan Sundaram has sued Freshworks Inc. and its executives, directors, and IPO underwriters for violations of Sections 11 and 15 of the Securities Act of 1933. Defendants move for summary judgment on the basis that they have shown that any recoverable losses in Freshworks’s stock price were not caused by Defendants’ alleged omissions leading up to Freshworks’s initial public offering. The Court agrees: the uncontested evidence in the record establishes that no omission by Defendants caused Freshworks’s stock price to drop below the IPO price, and the law is clear that Sundaram cannot recover for drops above the IPO price. Finding this matter suitable for resolution without argument pursuant to Civil Local Rule 7-1(b), the Court vacates the hearing scheduled for April 11, 2025 and…