Philadelphia, Pennsylvania–(Newsfile Corp. – January 14, 2025) – Berger Montague PC advises buyers {that a} securities class motion lawsuit has been filed towards Marqeta (NASDAQ:), Inc. (“Marqeta” or the “Company”) (NASDAQ: MQ) on behalf of purchasers of Marqeta securities between Could 7, 2024 by way of November 4, 2024, inclusive (the “Class Period”).
Investor Deadline: Buyers who bought or acquired MARQETA securities in the course of the Class Interval could, no later than FEBRUARY 7, 2025, search to be appointed as a lead plaintiff consultant of the category.
Headquartered in Oakland, CA, Marqeta operates a cloud-based platform which allows companies to problem and handle their very own fee playing cards.
In accordance with the lawsuit, all through the Class Interval, Marqeta and its executives violated federal securities legal guidelines by making false and/or deceptive statements and/or failing to reveal that: (1) Marqeta understated the regulatory challenges affecting its enterprise outlook; and (2) in consequence, Marqeta must decrease its steering for the fourth quarter of 2024.
On November 4, 2024, the Firm issued a press launch entitled “Marqeta Reports Third Quarter 2024 Financial Results.” Along with reporting its third quarter outcomes, Marqeta introduced decrease fourth quarter steering which mirrored “several changes that became apparent over the last few months with regards to the heightened scrutiny of the banking environment and specific customer program changes.”
On this information, the value of Marqeta inventory fell $2.53 per share – greater than 42% – from an in depth of $5.95 per share on November 4, 2024 to shut at $3.42 per share on November 5, 2024.
To study your rights, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.internet or (215) 875-3015, or Peter Hamner at phamner@bm.internet.
A lead plaintiff is a consultant celebration who acts on behalf of all class members in directing the litigation. The lead plaintiff is normally the investor or small group of buyers who’ve the biggest monetary curiosity and who’re additionally satisfactory and typical of the proposed class of buyers. The lead plaintiff selects counsel to signify the lead plaintiff and the category and these attorneys, if authorized by the court docket, are lead or class counsel. Your means to share in any restoration is just not, nonetheless, affected by the choice whether or not or to not function a lead plaintiff. Speaking with any counsel is just not essential to take part or share in any restoration achieved on this case. Any member of the purported class could transfer the Courtroom to function a lead plaintiff by way of counsel of his/her selection, or could select to do nothing and stay an inactive class member.
Berger Montague, with workplaces in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class motion litigation since its founding in 1970. Berger Montague has represented particular person and institutional buyers for over 5 a long time and serves as lead counsel in courts all through the US.
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