Robbins LLP Alerts Investors About Securities Fraud Class Action Against Marqeta, Inc.

Robbins LLP Alerts Investors on Class Action Against Marqeta, Inc.

In a recent development, Robbins LLP has reminded investors about a pending class action lawsuit against Marqeta, Inc. (NASDAQ: MQ). The lawsuit concerns all individuals and entities that purchased or acquired Marqeta securities from August 7, 2024, to November 4, 2024. Marqeta is known for its innovative digital payment technology, catering to various leaders in the industry.

Background of the Lawsuit

The complaint alleges that Marqeta failed to adequately inform its investors about significant regulatory challenges that were hindering its business operations. Specifically, Robbins LLP is investigating claims that the company understated the implications of these regulatory hurdles, ultimately affecting its fourth-quarter projections for 2024. The firm points to a crucial date—November 4, 2024—when Marqeta released its third-quarter financial results and revised its fourth-quarter expectations. This announcement reportedly came after noticing changes related to increased scrutiny in the banking sector and adjustments in customer program strategies.

On the day following the announcement, Marqeta's stock suffered a drastic decline of 42.5%, falling by $2.53 to close at $3.42 per share. This sharp drop highlights the serious repercussions that arise from discrepancies in disclosure and transparency to investors.

Your Legal Rights

Investors who believe they may have been affected by this alleged fraud are encouraged to consider participating in the class action. If you wish to act as a lead plaintiff, your application must be submitted to the court by February 7, 2025. A lead plaintiff is tasked with representing the interests of all members within the class during legal proceedings. For those hesitant to engage directly, it’s important to note that you can remain an absent member and still be eligible for recovery, should the case settle in favor of the plaintiffs.

Robbins LLP employs a contingency fee model, meaning shareholders will not incur any legal fees unless the case is won. This framework facilitates access to justice for individuals who may otherwise be deterred by potential legal costs.

About Robbins LLP

Robbins LLP has positioned itself as a leader in shareholder rights litigation since its establishment in 2002. With a commitment to recovering losses and fostering corporate accountability, the firm has built a reputation for advocating on behalf of shareholders against corporate misconduct. Investors looking to stay informed regarding future developments in this case or similar cases can sign up for their Stock Watch service, which provides alerts on corporate wrongdoing and class action settlements.

For further information, investors can reach out to attorney Aaron Dumas Jr. or contact Robbins LLP directly at (800) 350-6003.

Being prepared and informed is critical for every investor, especially in a landscape that can sometimes seem overwhelming. The ongoing situation with Marqeta serves as a stark reminder of the importance of transparency in corporate governance and the potential risks when companies fail to adequately communicate relevant information to their shareholders.

Remember, past performance does not necessarily guarantee future success, and staying vigilant is essential for protecting your investments.