The Schall Law Firm Announces Class Action Lawsuit Against Cardlytics, Inc.
On February 28, 2025, The Schall Law Firm, a leading national shareholder rights litigation firm, announced a class action lawsuit against Cardlytics, Inc. (“Cardlytics” or “the Company”) (NASDAQ: CDLX) for alleged securities law violations. The complaint, filed in the United States District Court for the Northern District of Georgia, asserts that the Company and certain of its executives violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
Class Period and Eligible Investors
The class action lawsuit covers investors who purchased Cardlytics securities between March 14, 2024, and August 7, 2024, inclusive (the “Class Period”). Eligible investors are encouraged to contact The Schall Law Firm before March 25, 2025, the lead plaintiff deadline, to discuss their legal rights.
Alleged Securities Law Violations
According to the complaint, Cardlytics made false and misleading statements to the market throughout the Class Period. Specifically, the Company misrepresented and failed to disclose adverse trends in its business, including declining revenue growth and increasing competition. The Company’s financial statements were also allegedly misstated, inflating reported revenues and understating expenses.
Impact on Individual Investors
The lawsuit may have significant implications for individual investors who purchased Cardlytics securities during the Class Period. If the allegations are proven true, these investors may be able to recover their losses through the class action lawsuit. The exact amount of damages will depend on the size of their investment and the extent of their losses.
Impact on the World
The class action lawsuit against Cardlytics may send a strong message to other publicly-traded companies about the importance of transparency and accuracy in their financial reporting. If the allegations are proven true, this case could lead to increased scrutiny of financial reporting practices and potentially stricter regulations.
Conclusion
The Schall Law Firm’s announcement of a class action lawsuit against Cardlytics, Inc. highlights the importance of accurate financial reporting and transparency to investors. If you purchased Cardlytics securities during the Class Period and have experienced significant losses, contact The Schall Law Firm before March 25, 2025, to discuss your potential recovery options. The outcome of this case could have far-reaching implications for the business world, potentially leading to increased scrutiny of financial reporting practices and stricter regulations.
- The Schall Law Firm announced a class action lawsuit against Cardlytics, Inc.
- The complaint alleges securities law violations by the Company and certain executives.
- The Class Period covers investors who purchased Cardlytics securities between March 14, 2024, and August 7, 2024.
- Eligible investors are encouraged to contact The Schall Law Firm before March 25, 2025.
- The allegations include misrepresentations about the Company’s business trends and financial reporting.
- The lawsuit may have significant implications for individual investors who purchased Cardlytics securities during the Class Period.
- The case could lead to increased scrutiny of financial reporting practices and potentially stricter regulations.
