Important Information for Marqeta, Inc. (MQ) Investors: Securities Class Action Lawsuit Deadline Reminder
On January 29, 2025, Rosen Law Firm, a leading investor rights law firm, issued a reminder to purchasers of Marqeta, Inc. (MQ) securities between May 7, 2024, and November 4, 2024, both dates inclusive (the “Class Period”), of the upcoming lead plaintiff deadline in the securities class action first filed by the Firm. The lawsuit alleges that Marqeta and certain of its executives and directors made false and misleading statements and failed to disclose material information regarding the company’s business, operations, and financial condition.
Background
Marqeta is a leading modern card issuing and processing platform. The company’s stock went public through a direct listing on the Nasdaq Stock Market on June 2, 2021. Marqeta’s platform provides modern card issuing and processing capabilities, enabling its customers to build and manage their own card programs, issue cards in real-time, and process transactions.
The Allegations
The securities class action lawsuit alleges that Marqeta and its executives misrepresented the company’s financial performance and growth prospects. Specifically, the complaint alleges that Marqeta failed to disclose: (1) that the company was experiencing significant customer concentration risk in its largest customer segment, (2) that the company’s revenue growth was decelerating, and (3) that the company was experiencing increased competition in the market.
The Impact on Investors
As a result of these alleged misrepresentations, Marqeta investors suffered significant losses. The stock price of Marqeta declined from a high of $52.50 per share in August 2021 to a low of $17.26 per share in November 2024. Investors who purchased Marqeta securities during the Class Period may be able to recover their losses through the securities class action.
The Impact on the World
The implications of this securities class action lawsuit extend beyond Marqeta and its investors. The allegations of misrepresentations and failure to disclose material information raise concerns about corporate governance and transparency in the technology industry. The lawsuit also highlights the importance of investors being diligent in their research and due diligence when investing in companies, particularly those in the rapidly growing fintech sector.
Lead Plaintiff Deadline
The lead plaintiff deadline in this securities class action is February 7, 2025. Investors who purchased Marqeta securities during the Class Period and wish to serve as lead plaintiff should contact Rosen Law Firm as soon as possible.
Conclusion
The securities class action lawsuit against Marqeta, Inc. serves as a reminder to investors to be vigilant and to conduct thorough research before investing in any company, particularly those in the technology sector. The allegations of misrepresentations and failure to disclose material information have significant implications for both investors and the industry as a whole. If you purchased Marqeta securities during the Class Period and wish to participate in the securities class action, contact Rosen Law Firm before the lead plaintiff deadline to protect your rights.
- Marqeta, Inc. (MQ)
- Securities Class Action
- Lead Plaintiff Deadline: February 7, 2025
- Misrepresentations and Failure to Disclose
- Impact on Investors and the Industry
