Levi & Korsinsky Announces Class Action Lawsuit Against Cardlytics, Inc.
NEW YORK, March 13, 2025 – Levi & Korsinsky, LLP announces that a class action securities lawsuit has been filed on behalf of shareholders who purchased Cardlytics, Inc. (“Cardlytics” or the “Company”) (NASDAQ: CDLX) common stock between February 26, 2020 and February 16, 2023, inclusive (the “Class Period”).
About the Lawsuit
The lawsuit alleges that Cardlytics made materially false and misleading statements during the Class Period. Specifically, the Company misrepresented the effectiveness and sustainability of its advertising solutions, as well as its financial performance and growth prospects.
Detailed Allegations
According to the complaint, Cardlytics’ advertising solutions were marketed as providing targeted and effective marketing campaigns for businesses. However, the Company failed to disclose that its advertising solutions were not as effective as advertised, and that its customer base was shrinking.
Moreover, the Company failed to disclose that its financial performance was deteriorating due to decreased revenue from its advertising solutions and increased expenses. The complaint alleges that Cardlytics’ management downplayed the impact of these issues and provided false and misleading guidance to investors.
Impact on Individual Investors
If you purchased Cardlytics common stock during the Class Period, you may be entitled to recover your losses, including damages. To get more information, go to:
- [email protected]
- or call 212-363-7500
Impact on the World
The lawsuit against Cardlytics is significant because it highlights the importance of accurate and transparent financial reporting. Misrepresentations by publicly traded companies can have far-reaching consequences, including loss of investor confidence, damage to reputations, and potential regulatory action.
Moreover, the lawsuit underscores the need for investors to carefully research companies before investing and to be aware of the potential risks associated with their investments.
Conclusion
Levi & Korsinsky encourages investors in Cardlytics to contact the firm if they purchased the Company’s common stock during the Class Period. The lawsuit serves as a reminder that companies must provide accurate and transparent information to investors, and that investors must remain vigilant in protecting their investments.
If you believe that your investments have been impacted by a securities violation, please contact Levi & Korsinsky to discuss your options. The firm represents investors in securities fraud and shareholder rights litigation.
Levi & Korsinsky, LLP has extensive expertise in prosecuting securities litigation and has recovered hundreds of millions of dollars for aggrieved investors.
For more information, please contact Levi & Korsinsky, LLP.
Levi & Korsinsky, LLP
30 Broad Street – 24th Floor
New York, NY 10004
Phone: 212-363-7500
Fax: 212-363-7171
Email: [email protected]
Website: www.levikorsinsky.com
