Investors File Class Action Against Cardlytics, Inc. Over Alleged Misleading Statements

Class Action Lawsuit Against Cardlytics, Inc.

On February 24, 2025, the Gross Law Firm announced that a class action has been initiated against Cardlytics, Inc. (NASDAQ: CDLX) that aims to seek justice for shareholders who bought its stock during a specific period. This legal action has surfaced in light of concerns regarding the company’s practices and the potential manipulation of stock information.

Details of the Lawsuit

The class period for this lawsuit extends from March 14, 2024, to August 7, 2024. The allegations center around misleading statements made by the company that could have significantly influenced the stock's value during this time. The complaint claims that Cardlytics issued several materially false statements, failing to disclose crucial information about its operational performance and business prospects.

Among the allegations are claims that:
1. Increasing consumer engagement led to higher consumer incentives.
2. Cardlytics failed to keep pace with the growing consumer engagement in terms of billing increases.
3. These failures created a considerable risk of slowing or declining revenue growth.
4. Changes to their Advertising Decision Engine resulted in the under-delivery of budget and billing estimates, which the company did not adequately communicate.

These misleading communications have raised questions about the reliability of Cardlytics's positive declarations regarding their business and future operations.

Deadline to Register

The Gross Law Firm has urged affected shareholders to register for the class action suit at their official website before the deadline of March 25, 2025. By doing so, they will have the opportunity to potentially be appointed as lead plaintiff in the case, although this isn’t a requirement for participation in recovery efforts.

What’s Next for Shareholders

Once shareholders register their information, they will receive updates about the case's progression through a dedicated portfolio monitoring service. Participation in this class action carries no financial obligation or legal costs, allowing affected shareholders to pursue their rights without the burden of expenses.

The Purpose of the Gross Law Firm

The Gross Law Firm is recognized nationally for its commitment to safeguarding the interests of investors who have faced losses due to fraudulent activities. Their dedication lies in ensuring corporations adhere to ethical practices and responsible conduct in the business sphere. The firm aims to recover losses for investors driven by artificial inflation in stock prices resulting from misleading information.

If you believe you qualify as a shareholder affected by the events surrounding Cardlytics and are interested in joining the class action, detailed registration instructions can be found at The Gross Law Firm's official site.

By participating, you take the necessary step towards accountability and recovery of your investments lost due to corporate negligence.