Faruqi & Faruqi, LLP is investigating the claims on behalf of investors Marqete By Investing.com
Faruqi & Faruqi, LLP securities litigation partner James (Josh) Wilson encourages investors who have suffered losses greater than $50,000 Marqeta (NASDAQ:) To contact him directly to discuss their options
If you have suffered losses greater than $50,000 Marqeta between May 7, 2024 and November 4, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Josh Wilson direct on 877-247-4292 or 212-983-9330 (ext. 1310).
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New York, New York–(Newsfile Corp. – January 12, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Marqeta, Inc. (“Marqeta” or the “Company”) (NASDAQ: MQ) and reminds investors of The deadline is February 7, 2025 to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its inception in 1995. See www.faruqilaw.com.
As set forth below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose the following: (1) Marqeta understated regulatory challenges affecting its business; prospects; (2) as a result, Marqeta would have to reduce its guidance for the fourth quarter of 2024; and (3) as a result, the defendant’s public statements were materially false and/or misleading at all relevant times. When the true details came to market, the lawsuit alleges, investors suffered damages.
On November 4, 2024, Marqeta, Inc. issued a press release titled “Marqeta Announces Third Quarter 2024 Financial Results.” Along with reporting third-quarter results, Marqeta released lower fourth-quarter guidance reflecting “several changes that have become apparent over the past few months with respect to increased scrutiny of the banking environment and specific client program changes.”
Following the news, Marqet’s stock price fell $2.53 per share, or 42.5%, to $3.42 per share on November 5, 2024.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class, which is adequate and typical of the class members and who directs and oversees the litigation on behalf of the putative class. Any putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by the decision whether or not you will be the lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information about Marqeta’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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Advertising of lawyers. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.
To view the original version of this press release, visit https://www.newsfilecorp.com/release/236787
