RSKD ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of July 1, 2022 in the Class Action Filed on Behalf of Riskified Ltd. Limited Shareholders
New York, New York--(Newsfile Corp. - May 19, 2022) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Riskified Ltd. (NYSE: RSKD) alleging that the Company violated federal securities laws.
This lawsuit is on behalf of all persons or entities who purchased Riskified Class A ordinary shares in or traceable to the Company's July 2021 initial public offering.
Lead Plaintiff Deadline: July 1, 2022
No obligation or cost to you.
Learn more about your recoverable losses in RSKD:
Riskified Ltd. NEWS - RSKD NEWS
CLASS ACTION CASE DETAILS: The filed complaint alleges that Riskified Ltd. made materially false and/or misleading statements and/or failed to disclose that: (i) as Riskified expanded its user base, the quality of Riskified's machine learning platform had deteriorated (rather than improved as represented in documents issued in connection with the July 2021 initial public offering), because of, among other things, inaccuracies in the algorithms associated with onboarding new merchants and entering new geographies and industries; (ii) Riskified had expanded its customer base into industries with relatively high rates of fraud - including partnerships with cryptocurrency and remittance business - in which Riskified had limited experience and that this expansion has negatively impacted the effectiveness of Riskified's machine learning platform; (iii) as a result, Riskified was suffering from materially higher chargebacks and cost of revenue and depressed gross profits and gross profit margins during its third fiscal quarter of 2021; and (iv) thus, the representations in documents issued in connection with the July 2021 initial public offering regarding Riskified's historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of Riskified prior to and at the time of the July 2021 initial public offering, and were materially false and misleading, and lacked a factual basis.
WHAT THIS MEANS TO YOU AS A SHAREHOLDER: If you have suffered a loss in Riskified Ltd. you have until July 1, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
NO COST TO YOU: If you purchased Riskified Ltd. securities during the relevant period, you may be entitled to compensation without payment of any out-of-pocket fees.
ABOUT KLEIN LAW FIRM
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. The Klein Law Firm is a boutique litigation firm with experience in a wide range of areas including securities law, corporate finance and commercial litigation. Since 2011, our experienced attorneys have achieved superior results for our clients with a personalized focus. Attorney advertising. Prior results do not guarantee similar outcomes.
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