Marqeta Investors Urged to Join Class Action Lawsuit for Losses
Investor Alert: Marqeta, Inc.
Investors who acquired securities of Marqeta, Inc. (NASDAQ: MQ) between May 7, 2024, and November 4, 2024, may wish to take notice of a potential class action lawsuit initiated by the law firm Robbins Geller Rudman & Dowd LLP. This legal action is currently seeking to appoint lead plaintiffs and offers a chance for affected investors to unite and claim their losses.
Background of the Lawsuit
The lawsuit, captioned as Ford v. Marqeta, Inc. (Case No. 24-cv-08892) was filed in the Northern District of California. It alleges that Marqeta and some of its executives made misleading statements regarding the company's business operations and the regulatory challenges they faced. Investors are being urged to come forward, with a deadline of February 7, 2025, to apply for the lead plaintiff position in this class action.
Key Allegations
The central claim against Marqeta involves allegations that the company significantly understated the challenges presented by regulatory scrutiny. This led Marqeta to lower its financial guidance for Q4 2024, revealing projections of only 10-12% net revenue growth and 13-15% gross profit growth. These figures represent a noticeable decrease from the previously expected growth of 16-18% net revenue and 22-24% gross profit growth.
An immediate impact of this lowered forecast was seen on November 4, 2024, when Marqeta's stock price plummeted by over 42%, causing substantial losses for investors. The lawsuit effectively charges that the company’s management failed to disclose critical operational issues and made promises that they could not keep.
How to Get Involved
Investors who feel they have been impacted by these events are encouraged to step forward. The class action enables someone with the largest financial stake and who represents typical interests of the class to lead the effort in a legal proceeding. This ensures that all class members are adequately represented. Interested parties can provide their information to seek a lead plaintiff designation via the Robbins Geller website.
About Robbins Geller
Robbins Geller Rudman & Dowd LLP is a leading law firm specializing in representing investors in securities fraud cases. Performing at the top of its field, the firm has been recognized for obtaining significant monetary recoveries for investors, including notable cases such as the Enron Corporation securities litigation which saw recoveries exceeding $7.2 billion. With over 200 attorneys in 10 offices, Robbins Geller stands at the forefront of litigating complex securities fraud cases, always striving for justice on behalf of their clients.
Conclusion
For those affected by the recent drops in Marqeta’s share price, this class action lawsuit could provide a platform for accountability and potential compensation. Investors are urged to act quickly within the stipulated time frame to ensure their voices are heard and their claims are represented. For further inquiries or assistance, potential class members can reach out to attorneys J.C. Sanchez or Jennifer N. Caringal at Robbins Geller. Taking part in this class action may not only lead to recovery but also align investors together against corporate malpractices.
For more information, interested investors can visit the Robbins Geller website or reach the firm directly via phone or email.
Topics Financial Services & Investing）
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