SAN DIEGO, Dec. 21, 2024 (GLOBE NEWSWIRE) — Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Marqeta, Inc. (NASDAQ: MQ) securities between May 7, 2024 and November 4, 2024, inclusive (the “Class Period”), have until February 7, 2025 to seek appointment as lead plaintiff of the Marqeta class action lawsuit. Captioned Ford v. Marqeta, Inc., No. 24-cv-08892 (N.D. Cal.), the Marqeta class action lawsuit charges Marqeta as well as certain of Marqeta’s top executives with violations of the Securities Exchange Act of 1934. A previously filed complaint is captioned Wai v. Marqeta, Inc., No. 24-cv-08874 (N.D. Cal.).
If you suffered substantial losses and wish to serve as lead plaintiff of the Marqeta class action lawsuit, please provide your information here:
https://www.rgrdlaw.com/cases-marqeta-inc-class-action-lawsuit-mq.html
You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com.
CASE ALLEGATIONS: Marqeta operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services.
The Marqeta class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Marqeta understated the regulatory challenges affecting its business outlook; and (ii) as a result, Marqeta would have to cut its guidance for the fourth quarter of 2024.
The Marqeta class action lawsuit further alleges that on November 4, 2024, Marqeta revealed fourth quarter 2024 guidance of 10-12% net revenue growth and 13-15% gross profit growth, as opposed to the previously projected 16-18% net revenue growth and 22-24% gross profit growth figures, which “reflects several changes that became apparent over the last few months with regards to the heightened scrutiny of the banking environment and specific customer program changes.” On this news, the price of Marqeta stock fell more than 42%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Marqeta securities during the Class Period to seek appointment as lead plaintiff in the Marqeta class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Marqeta class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Marqeta class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Marqeta class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
Past results do not guarantee future outcomes.
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Contact:
Robbins Geller Rudman & Dowd LLP
J.C. Sanchez, Jennifer N. Caringal
655 W. Broadway, Suite 1900, San Diego, CA 92101
800-449-4900
info@rgrdlaw.com
