StockNews.AI
CDLX
StockNews.AI
179 days

Levi & Korsinsky Notifies Shareholders of Cardlytics, Inc.(CDLX) of a Class Action Lawsuit and an Upcoming Deadline

1. CDLX faces a class action lawsuit alleging securities fraud. The suit claims misleading statements. 2. The complaint alleges false claims on revenue growth and consumer engagement. The event lasted March–August 2024. 3. Defendants are accused of concealing under-delivery of ad budgets and billing estimates. The claims question the firm’s forecasts. 4. Investors suffering losses can join the suit free of charge. A top securities litigation firm leads the action.

4m saved
Insight
Article

FAQ

Why Bearish?

Class action lawsuits often trigger negative investor sentiment and short-term sell-offs. Historic cases in tech and financial sectors have shown that litigation risks can pressure share prices until resolved.

How important is it?

This lawsuit introduces legal and reputational risk with potential settlement costs. While it may not change fundamentals, it could materially impact investor confidence in the near term.

Why Short Term?

News of legal proceedings typically triggers immediate market volatility. Similar events have produced short-term declines as investors reassess risk.

Related Companies

NEW YORK, Feb. 21, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Cardlytics, Inc. ("Cardlytics" or the "Company") (NASDAQ: CDLX) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Cardlytics investors who were adversely affected by alleged securities fraud between March 14, 2024 and August 7, 2024. Follow the link below to get more information and be contacted by a member of our team: https://zlk.com/pslra-1/cardlytics-lawsuit-submission-form?prid=130860&wire=4 CDLX investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500. CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) increasing consumer engagement led to an increase in consumer incentives; (2) the Company could not increase its billings commensurate with the increased consumer engagement; (3) as a result, there was a significant risk that its revenue growth would slow or decline; (4) the changes to Ads Decision Engine, which led to increased consumer engagement, led to the "under-delivery" of budgets and customers billing estimates; and (5) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. WHAT'S NEXT? If you suffered a loss in Cardlytics during the relevant time frame, you have until March 25, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate. WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. CONTACT:Levi & Korsinsky, LLP Joseph E. Levi, Esq.Ed Korsinsky, Esq.33 Whitehall Street, 17th FloorNew York, NY 10004[email protected]Tel: (212) 363-7500Fax: (212) 363-7171www.zlk.com SOURCE Levi & Korsinsky, LLP

Related News