Bronstein, Gewirtz & Grossman, LLC Files Class Action Lawsuit Against Cardlytics, Inc.
On March 2, 2025, Bronstein, Gewirtz & Grossman, LLC, a prominent law firm, announced the filing of a class action lawsuit against Cardlytics, Inc. (“Cardlytics” or “the Company”) (NASDAQ: CDLX) and certain of its officers. The complaint alleges that Cardlytics and its officers violated the federal securities laws during the period from March 14, 2024, to August 7, 2024 (the “Class Period”).
Class Definition
The lawsuit aims to recover damages on behalf of all persons and entities that purchased or otherwise acquired Cardlytics securities during the Class Period. The Class Period refers to the time frame between the March 14, 2024, release of Cardlytics’ first-quarter financial results, and August 7, 2024, when new information about the Company’s financial condition and business prospects came to light.
Allegations
The complaint alleges that Cardlytics and its officers made materially false and misleading statements regarding the Company’s financial condition and business prospects. Specifically, the lawsuit alleges that defendants failed to disclose that the Company’s financial results were negatively impacted by decreased demand for its advertising services, increased competition, and higher operating costs. As a result, the Company’s reported financial results during the Class Period were misstated.
Impact on Investors
The lawsuit seeks to recover damages for investors who purchased Cardlytics securities during the Class Period. The filing of this lawsuit may negatively impact the price of Cardlytics securities as investors consider the potential financial implications of the allegations. More information about the lawsuit and the potential impact on investors can be found on the Bronstein, Gewirtz & Grossman, LLC website.
Impact on the World
The filing of this class action lawsuit against Cardlytics is significant because it highlights the importance of accurate financial reporting and disclosure. Misrepresentations and omissions in financial statements can mislead investors and have far-reaching consequences on the financial markets. This lawsuit serves as a reminder for companies to prioritize transparency and honesty in their reporting.
Conclusion
Investors who purchased Cardlytics securities during the Class Period and are interested in learning more about the lawsuit and their potential recovery options are encouraged to contact Bronstein, Gewirtz & Grossman, LLC. The filing of this class action lawsuit underscores the importance of transparency and honesty in financial reporting and highlights the potential consequences of misrepresentations and omissions.
- Bronstein, Gewirtz & Grossman, LLC files class action lawsuit against Cardlytics, Inc.
- Allegations of securities law violations during the period from March 14, 2024, to August 7, 2024.
- Negative impact on investors and potential financial implications.
- Importance of accurate financial reporting and transparency.
