NEW YORK, NY / ACCESS Newswire / January 27, 2025 / Pomerantz LLP announces that a class action lawsuit has been filed against Cardlytics, Inc. ("Cardlytics" or the "Company") (NASDAQ:CDLX). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Cardlytics and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until March 25, 2025, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Cardlytics securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On May 8, 2024, Cardlytics revealed that its first quarter 2024 revenue only increased 8% year-over-year, despite a 12% increase in billings, due to a 20.2% increase in consumer incentives.
On this news, Cardlytics’ stock price fell $5.33 per share, or 36.5%, to close at $9.27 per share on May 9, 2024.
Then, on August 7, 2024, Cardlytics released its second quarter 2024 financial results, revealing a 9% year-over-year decrease in revenue to $69.6 million, alongside a 3% decline in adjusted contribution to $36.4 million. The press release also disclosed that Karim Temsamani had stepped down as Chief Executive Officer and from the Board of Directors.
On this news, Cardlytics’ stock price fell $3.94 per share, or 57.1%, to close at $2.96 per share on August 8, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: Pomerantz LLP
View the original press release on ACCESS Newswire
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