Cardlytics faces securities fraud lawsuit
Analysis based on 13 articles · First reported Feb 13, 2025 · Last updated Mar 04, 2025
The market is impacted by the class action lawsuit against Cardlytics, which alleges securities fraud. This could lead to a decline in investor confidence and potentially affect Cardlytics' stock price and reputation.
Levi & Korsinsky has filed a class action securities lawsuit against Cardlytics, alleging that the company made false and misleading statements to investors between March 14, 2024, and August 7, 2024. The complaint claims that Cardlytics concealed that increasing consumer engagement led to higher consumer incentives, and the company could not increase its billings proportionally. This resulted in a significant risk of slowing or declining revenue growth and the 'under-delivery' of budgets and customer billing estimates due to changes in its Ads Decision Engine. Investors who suffered losses during this period have until March 25, 2025, to request to be appointed as lead plaintiff.
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