The Schall Law Firm Announces Class Action Lawsuit Against Cardlytics, Inc.
Los Angeles, CA – The Schall Law Firm, a renowned national shareholder rights litigation firm, alerts the public about a securities class action lawsuit filed against Cardlytics, Inc. (“Cardlytics” or “the Company”) (NASDAQ: CDLX). The lawsuit was initiated on behalf of investors who purchased the Company’s securities between March 14, 2024, and August 7, 2024, inclusive (the “Class Period”).
According to the complaint, Cardlytics is alleged to have violated the federal securities laws, specifically Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission (SEC).
Alleged Misstatements
The complaint asserts that Cardlytics made false and misleading statements and failed to disclose material information during the Class Period. Specifically, the Company disclosed inaccurate financial statements, failed to disclose the true revenue growth trends, and misrepresented its business relationship with a major banking partner.
The Impact on Investors
As a result of this alleged securities fraud, investors who purchased Cardlytics securities during the Class Period suffered significant losses. The lawsuit aims to recover damages on behalf of these investors.
- Investors who bought Cardlytics securities between March 14, 2024, and August 7, 2024, are encouraged to contact The Schall Law Firm before March 25, 2025, to discuss their legal rights.
- The Schall Law Firm is committed to recovering losses for investors and encourages shareholders to contact them to discuss their potential remedies.
Impact on the World
The lawsuit against Cardlytics is a reminder of the importance of transparency and accuracy in corporate reporting. The alleged misrepresentations not only affected individual investors but also the overall market confidence in the company and the financial sector as a whole. Such incidents can lead to increased regulatory scrutiny and stricter enforcement actions.
Conclusion
The Schall Law Firm’s announcement of a class action lawsuit against Cardlytics, Inc. highlights the need for companies to maintain accurate financial reporting and disclose all material information to their investors. The lawsuit aims to recover damages for investors who were negatively impacted by the alleged securities fraud. As the case unfolds, it is essential to stay informed and seek professional advice if you have any concerns regarding your investments.
For more information about The Schall Law Firm or to discuss your securities litigation options, please contact us at 310-301-3335 or [email protected].
The Schall Law Firm is dedicated to ensuring that all investors, large and small, have access to the information they need to make informed decisions about their holdings. We take pride in providing thoughtful and innovative representation to our clients.
