Philadelphia, Pa.–(Newsfile Corp. – January 24, 2025) – Berger Montague PC Advises Investors That Securities Class Action Lawsuit Has Been Filed Margaret (NASDAQ:), Inc. (“Marqeta” or the “Company”) (NASDAQ: MQ ) on behalf of the purchasers of the Marqeta securities between 7 May 2024 to 4 November 2024, inclusive (“Teaching Period”).
Term for Investors: Investors who bought or acquired MARKET of securities during the Class Period can no later than FEBRUARY 7, 2025seek the appointment of the lead plaintiff as class representative.
Based in Oakland, California, Marqeta operates a cloud-based platform that enables businesses to issue and manage their own payment cards.
According to the lawsuit, during the Class Period, Marqeta and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Marqeta underestimated regulatory challenges affecting its business prospects; and (2) as a result, Marqeta would have to lower its outlook for the fourth quarter of 2024.
On November 4, 2024, the Company issued a press release entitled “Marqeta Reports Third Quarter 2024 Financial Results”. In addition to reporting third-quarter results, Marqeta announced a lower outlook for the fourth quarter that reflected “several changes that have taken place over the past few months with respect to increased scrutiny of the banking environment and specific customer program changes.”
Following the news, Marqeta's stock price fell $2.53 per share – more than 42% – from a close of $5.95 per share on November 4, 2024 to $3.42 per share on November 5, 2024.
To learn your rights, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net.
The lead plaintiff is the representative party that acts on behalf of all class members in the litigation. The lead plaintiff is usually the investor or a small group of investors who have the greatest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class, and those attorneys, if approved by the court, are lead or class counsel. However, your ability to participate in any enforcement is not affected by the decision whether or not to serve as lead plaintiff. Communication with any legal counsel is not necessary for you to participate in this case or to participate in any recovery obtained in this case. Any putative class member can move the Court to serve as lead plaintiff through their attorney, or they can choose to do nothing and remain an inactive member of the class.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, DC, San Diego, San Francisco and Chicago, has been a pioneer in securities litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for more than five flight. decades and serves as lead counsel in courts throughout the United States.
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