Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against WM Technology, Inc. (MAPS)

NEW YORK, Oct. 18, 2024 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of all persons or entities who purchased or otherwise acquired WM Technology, Inc. (“WM Technology” or the “Company”) (NASDAQ: MAPS) securities between May 25, 2021, and September 24, 2024, inclusive (the “Class Period”). The lawsuit seeks to recover damages for the Company’s investors under the federal securities laws.

The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose, among other things, that: (1) the Company’s monthly average user metrics (MAUs) were severely inflated for years; and (2) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares of WM Technology should contact the Firm prior to the December 16, 2024 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

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