Many shrimp species are protogynous hermaphrodites, meaning they start life as males and later transform into females. This reproductive strategy is common in many aquatic species including some shrimp, clownfish, and wrasses.
Many shrimp species (e.g., Pandalus and related caridean shrimp) exhibit protandric hermaphroditism: individuals are born and mature first as males, then later in life undergo a natural sex change to become female. This is a well-documented reproductive strategy in several commercially important shrimp species, making the statement True.