Class Action Lawsuit Filed Against Cardlytics, Inc. for Alleged Securities Law Violations
On March 2, 2025, The Schall Law Firm announced that it had filed a class action lawsuit against Cardlytics, Inc. (“Cardlytics” or “the Company”) (NASDAQ: CDLX) in the United States District Court for the Northern District of Georgia. The complaint alleges that the Company violated the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
Allegations against Cardlytics
The lawsuit alleges that Cardlytics and certain of its executives made false and misleading statements and failed to disclose material information during the Class Period, which was between March 14, 2024, and August 7, 2024. Specifically, the complaint alleges that the Company misrepresented the financial performance of its business and its ability to meet revenue and earnings expectations.
Effect on Individual Investors
If you invested in Cardlytics securities during the Class Period, you may be entitled to recover your losses, including damages. You may also be able to hold the Company’s executives personally liable. It is important for investors to protect their investments by securing their financial records and maintaining any documents related to their purchases of Cardlytics securities. If you are a shareholder and wish to participate in this action, you must file a motion to serve as lead plaintiff by March 25, 2025.
Effect on the World
The filing of this class action lawsuit against Cardlytics is significant because it highlights the importance of transparency and accuracy in financial reporting. Companies have a responsibility to provide accurate and timely information to their investors. The failure to do so can result in serious consequences, including financial losses and reputational damage. This lawsuit serves as a reminder to all companies to prioritize transparency and honesty in their reporting.
Conclusion
The Schall Law Firm’s filing of a class action lawsuit against Cardlytics, Inc. for alleged securities law violations is a serious matter that could have significant consequences for both the Company and its investors. If you invested in Cardlytics securities during the Class Period, it is important that you protect your investments and consider participating in this action. The lawsuit also serves as a reminder to all companies to prioritize transparency and honesty in their financial reporting.
- Cardlytics, Inc. (NASDAQ: CDLX) is the subject of a class action lawsuit alleging securities law violations.
- The lawsuit alleges that the Company and certain executives made false and misleading statements and failed to disclose material information during the Class Period.
- Individual investors who purchased Cardlytics securities during the Class Period may be entitled to recover their losses, including damages.
- The lawsuit serves as a reminder to all companies to prioritize transparency and honesty in their financial reporting.
