#United States #New York #Class Action #Securities Fraud #Cardlytics

Calling All Investors of Cardlytics, Inc.

Cardlytics, Inc., traded under the ticker symbol CDLX, has recently faced serious allegations related to securities fraud, prompting a class action lawsuit to be filed on behalf of affected investors. If you were involved in trading Cardlytics securities during the period from March 14, 2024, to August 7, 2024, and have experienced financial losses, this might be an opportunity for you to recover some of your money. The law firm Levi & Korsinsky, LLP, which specializes in shareholder rights, has publicly announced their initiative to notify investors about this pending lawsuit.

Understanding the Allegations

The core of the allegations asserts that Cardlytics’ management made several misleading statements that resulted in inflated share prices during the specified timeframe. Investors claim they were misled about the company's revenue growth capabilities and the performance of its Ads Decision Engine. In particular, the complaint suggests five main points that the defendants allegedly concealed:

1. Increased Consumer Engagement: The complaint alleges that while consumer engagement was rising, it led to higher costs related to consumer incentives.
2. Billings Issue: Cardlytics reportedly struggled to keep up their billings in line with the rising engagement rates, hinting at operational inefficiencies.
3. Risk of Revenue Decline: The allegations point to significant risks that revenue growth may slow or decline, compounded by management’s positive outlooks, which were claimed to lack factual backing.
4. Ads Decision Engine Changes: The modifications implemented in Cardlytics’ Ads Decision Engine reportedly resulted in under-delivered budgets for advertising, adversely impacting client billing estimates.
5. Misleading Statements: Overall, shareholders believe the company's statements concerning its business and operational prospects were significantly misleading, causing investment decisions based on false premises.

Next Steps for Affected Investors

Should you fall within the affected group of investors, it is advised you act promptly. The deadline to apply to the court to be appointed as lead plaintiff is March 25, 2025. However, please note that you do not need to serve as the lead plaintiff to be entitled to a portion of any recovery.
Participation in this class action comes with no upfront costs. In fact, class members may be entitled to financial compensation without the need to pay any out-of-pocket expenses or legal fees. Levi & Korsinsky emphasizes that their services are without charge until a successful recovery is achieved.

Trust in Levi & Korsinsky

With over 20 years of experience specializing in securities litigation, Levi & Korsinsky has won numerous high-stakes cases and has assisted shareholders in securing hundreds of millions of dollars in compensation. Their track record includes being consistently recognized as one of the top securities litigation firms in the United States. With a dedicated team of over 70 professionals, they are poised to represent investors vigorously.

If you experienced losses in your investments in Cardlytics during the aforementioned timeframe and wish to learn more about your rights, do not hesitate to reach out:

• - Contact Information:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
Email: [email protected]
Phone: (212) 363-7500

Conclusion

This notification serves as an important reminder to any investors affected by Cardlytics’ recent issues. File your claims, stay informed, and take control of your investment recovery. In these complex situations, proper legal counsel and timely action can significantly impact the outcome for those affected.