#USA #New York #Securities #Marqeta #Faruqi & Faruqi

Important Update for Marqeta Investors

In a recent announcement by Faruqi & Faruqi, LLP, a prominent securities law firm, investors who have incurred losses exceeding $50,000 in Marqeta, Inc. (NASDAQ: MQ) are encouraged to directly reach out for legal counsel. This call to action comes in light of a significant decline in the company's stock prices following disappointing financial forecasts.

Financial Performance and Investigation

Marqeta, known for its innovative card issuing platform, triggered concerns within the investment community after releasing its third-quarter results on November 4, 2024. With the release, the company reported its financial standing while simultaneously lowering its guidance for the fourth quarter. The firm acknowledged several recent developments that prompted the downward revision, including increased scrutiny within the banking sector and alterations in specific customer programs. This announcement led to a dramatic fall in Marqeta's stock value, plunging $2.53 per share, which equated to a loss of around 42.5%, closing at $3.42 a share on November 5, 2024.

The complaint filed against Marqeta alleges that the firm, along with its executives, violated federal securities laws by failing to disclose important information concerning regulatory challenges. Specifically, they purportedly understated these challenges, which ultimately misled investors regarding the company’s performance outlook.

Legal Action and Class Action Timeline

Investors have until February 7, 2025, to apply for the position of lead plaintiff in the ongoing federal securities class action against Marqeta. The lead plaintiff will represent the interests of the entire class in the case, but it’s worth noting that any potential recovery will not depend on whether an individual investor chooses to take up this role.

Any investor within the class that has information relevant to this investigation, including whistleblowers, former employees, or shareholders, is encouraged to come forward. The legal team at Faruqi & Faruqi is ready to evaluate the situation further and provide necessary support.

How to Get Involved

If you believe you have a claim against Marqeta, you can directly reach out to Josh Wilson, a partner at Faruqi & Faruqi, at 877-247-4292 or 212-983-9330 (Ext. 1310). The law firm's website provides additional resources and information related to the Marqeta class action.

Conclusion

This developing situation serves as a crucial reminder to investors about the importance of staying informed regarding their holdings and the potential impacts of regulatory changes on market behavior. Marqeta's volatility following the earnings report and subsequent investigation underscores the need for vigilance and strategic action, especially for those significantly impacted by the stock's decline.

As events unfold, the investment community will be closely observing Marqeta's response and the implications for investors moving forward.