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Wolf Haldenstein Adler Freeman & Herz LLP announces that it is investigating Dave Inc. for potential violations of securities laws

1. Wolf Haldenstein investigates potential securities fraud at Dave Inc. 2. FTC alleges misleading marketing and undisclosed fees from cash advance app. 3. DOJ filed an amended complaint against Dave for consumer protections violations. 4. Dave's stock fell sharply following the December 30, 2024 news.

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FAQ

Why Very Bearish?

Ongoing litigation and allegations can significantly harm investor confidence. Previous instances of legal action often led to stock price declines for companies involved.

How important is it?

Legal issues directly tied to consumer trust can drastically affect stock value. High-profile investigations can lead to significant drops in market capitalization.

Why Short Term?

The immediate impact of litigation is felt quickly, causing instability. Historical cases show rapid stock price reactions to legal news.

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DAVE
PLEASE CLICK HERE TO PROVIDE YOUR CONTACT INFORMATION NEW YORK, Jan. 10, 2025 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein"), a preeminent national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Dave Inc. ("Dave" or the "Company") (NASDAQ:DAVE). The investigation concerns whether Dave Inc. and certain of its officers and/or directors have engaged in securities fraud.    PLEASE CLICK HERE TO PROVIDE YOUR CONTACT INFORMATION In November 2024, the United States ("U.S.") Federal Trade Commission ("FTC") filed a complaint against Dave, alleging that the Company's marketing misled consumers and that Dave's cash advance app charged undisclosed fees.  Then, during post-market hours on December 30, 2024, it was announced that the U.S. Department of Justice ("DOJ"), on behalf of the FTC, filed an amended complaint against the Company, alleging that Dave lured users to its personal finance app by advertising cash advances of up to $500 that many never receive.  According to the DOJ, the amended complaint seeks unspecified amounts of consumer redress and monetary civil penalties from the defendants and a permanent injunction to prohibit them from engaging in future violations. On this news, Dave's stock price fell sharply during intraday trading on December 31, 2024.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 classmember@whafh.com. Contact: Wolf Haldenstein Adler Freeman & Herz LLPGregory Stone, Director of Case and Financial AnalysisEmail: gstone@whafh.com or classmember@whafh.comTel: (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.

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