PHILADELPHIA, Jan. 03, 2025 (GLOBE NEWSWIRE) — Berger Montague PC advises investors that a securities class action lawsuit has been filed against Marqeta, Inc. (“Marqeta” or the “Company”) (NASDAQ: MQ) on behalf of purchasers of Marqeta securities between May 7, 2024 through November 4, 2024, inclusive (the “Class Period”).
Investor Deadline: Investors who purchased or acquired
MARQETA
securities during the Class Period may, no later than
FEBRUARY 7, 2025
, seek to be appointed as a lead plaintiff representative of the class.
Headquartered in Oakland, CA, Marqeta operates a cloud-based platform which enables businesses to issue and manage their own payment cards.
According to the lawsuit, throughout the Class Period, Marqeta and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Marqeta understated the regulatory challenges affecting its business outlook; and (2) as a result, Marqeta would have to lower its guidance for the fourth quarter of 2024.
On November 4, 2024, the Company issued a press release entitled “Marqeta Reports Third Quarter 2024 Financial Results.” In addition to reporting its third quarter results, Marqeta announced lower fourth quarter guidance which reflected “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 $2.53 per share – more than 42% – from a close of $5.95 per share on November 4, 2024 to close at $3.42 per share on November 5, 2024.
To learn your rights,
CLICK HERE
or please contact Berger Montague: Andrew Abramowitz at
[email protected]
or (215) 875-3015, or Peter Hamner at
[email protected]
.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contact:
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
[email protected]
Peter Hamner
Berger Montague PC
[email protected]
