Breaking News: Cardlytics, Inc. Faces Class Action Lawsuit
In a recent turn of events, Bronstein, Gewirtz & Grossman, LLC, a distinguished law firm, has taken legal action against Cardlytics, Inc. (Cardlytics or the Company) and certain of its officers. The lawsuit was filed in the United States District Court for the Northern District of Georgia.
Background on Cardlytics, Inc.
Cardlytics is a leading digital marketing technology company headquartered in Atlanta, Georgia. The Company’s technology uses purchase data from banks and credit unions to help marketers identify their customers’ purchasing activities, enabling them to reach these consumers with targeted digital advertising. Cardlytics’ services are used by a wide range of industries, including financial services, retail, travel, and consumer packaged goods.
The Class Action Lawsuit
The class action lawsuit alleges that Cardlytics and its officers violated the Securities Exchange Act of 1934 by making false and misleading statements and/or failing to disclose material information to investors. Specifically, the complaint alleges that the Company misrepresented its business relationship with Mastercard, one of its key partners, and downplayed the impact of regulatory changes on its business. These alleged misrepresentations are said to have artificially inflated the stock price of Cardlytics.
Impact on Individual Investors
If you are an investor in Cardlytics and purchased the Company’s securities between February 24, 2022, and October 28, 2022, you may be eligible to participate in this class action lawsuit. The lawsuit seeks to recover damages on behalf of injured investors.
Impact on the World
The outcome of this lawsuit could have far-reaching implications for the digital marketing industry, particularly for companies that rely on partnerships with financial institutions to access consumer data. The case may set a precedent for how securities fraud claims involving data privacy and partnership disclosures are handled in the future.
Conclusion
As the legal proceedings unfold, investors are encouraged to monitor this developing situation closely. If you believe you may be affected by this class action lawsuit, we recommend consulting with a securities attorney to discuss your legal rights and options. Stay informed and stay protected.
- Bronstein, Gewirtz & Grossman, LLC files class action lawsuit against Cardlytics, Inc.
- Allegations include securities fraud and misrepresentation.
- Impact on individual investors: potential recovery of damages.
- Impact on the digital marketing industry: potential precedent-setting outcome.
