Friday, 08 November 2024 12:45 PM
Class Action
PLEASE CLICK HERE TO PROVIDE YOUR CONTACT INFORMATION
NEW YORK, NY / ACCESSWIRE / November 8, 2024 / Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein"), a preeminent national shareholder rights litigation firm, announces that it is investigating is investigating claims on behalf of investors of Marqeta, Inc. ("Marqeta" or the "Company") (NASDAQ:MQ).
The investigation concerns whether Marqeta and certain of its officers and/or directors have engaged in securities fraud.
Marqeta seeks to modernize financial services through its platform, which empowers customers to create customized and innovative payment card programs, giving them configurability and flexibility. The platform encompasses debit, prepaid and credit programs and provides banking and money management, risk management and rewards products.
On November 4, 2024, after the close of trading, Marqeta released weaker-than-expected third quarter 2024 financial results and fourth quarter 2024 guidance. The Company explained its "guidance 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's shares declined by $2.53 per share, or approximately 42.5%, from $5.95 per share on November 4, 2024 to close at $3.42 per share on November 5, 2024.
In reaction to this news, analysts downgraded Marqeta, citing substantial revision of 2024 profit forecast and initial 2025 growth forecast below Wall Street estimates.
Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly lauded by the courts, which have appointed it to major positions in complex securities, multi-district and consolidated litigation.
If you wish to discuss this investigation or have any questions regarding your rights and interests, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at [email protected].
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
SOURCE: Wolf Haldenstein Adler Freeman and Herz LLP