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Associated Press
13-02-2025
- Business
- Associated Press
INVESTOR ALERT: Shareholder Class Action Lawsuit Filed Against Cardlytics, Inc. (NASDAQ: CDLX); DiCello Levitt LLP Encourages Investors with Losses to Discuss Their Options with Counsel
SAN DIEGO, Feb. 13, 2025 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed on behalf of all persons and entities who purchased or otherwise acquired Cardlytics, Inc. (NASDAQ: CDLX) ('Cardlytics' or the 'Company') securities between March 14, 2024 and August 7, 2024 (the 'Class Period'), charging the Company and certain current and former senior executives with violations of the federal securities laws (collectively, 'Defendants'). Cardlytics investors have until March 25, 2025 to seek appointment as lead plaintiff of the Cardlytics class action lawsuit. If you purchased or acquired Cardlytics securities between March 14, 2024 and August 7, 2024, and suffered substantial losses, and you wish to obtain additional information or serve as lead plaintiff in this lawsuit, you may submit your information and contact us here: You can also contact DiCello Levitt attorneys Brian O'Mara or Ruben Peña by calling (888) 287-9005 or emailing [email protected]. Those who inquire by email are encouraged to include their mailing address, telephone number, and the number of shares purchased. No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. Case Allegations Cardlytics operates a proprietary advertising platform in the United States and the United Kingdom that analyzes anonymized purchase data to help marketers reach potential purchasers. Using Cardlytics' Ads Decision Engine ('ADE') to identify and target consumers with relevant ads, the Company incentivizes consumers to make purchases from a marketer during specific periods. The Company funds these consumer incentives using a portion of the fees collected from marketers. According to Cardlytics, 'billings is an important indicator for the current health of the business because it directly represents [its] ability to bill customers for [its services] before any Consumer Incentives are paid.' The Cardlytics lawsuit alleges that Defendants issued positive statements about the Company's business, operations, and prospects that were materially misleading and/or lacked a reasonable basis during the Class Period. Specifically, Defendants failed to disclose to investors: (1) Cardlytics' increase in consumer engagement also increased the consumer incentives provided; (2) Cardlytics' billings could not increase proportionately with the higher consumer engagement; (3) that, as a result, Cardlytics faced an increased risk of its revenue growth slowing or declining; and (4) Cardlytics' changes to ADE that caused an increase in consumer engagement also led to the 'under-delivery' of budgets and customers billing estimates. The truth began to emerge on May 8, 2024, when the Company announced that its first quarter 2024 revenue increased only 8% despite a 12% increase in billings. The Company cited a 20.2% increase in Consumer Incentives payments as the cause of the lackluster increase in revenue. On this news, the price of Cardlytics stock fell by $5.33, or 36.5%, to close at $9.27 per share on May 9, 2024. Defendants, however, continued to issue materially misleading statements during the Class Period. Specifically, Defendants touted the ' product changes we're making on ADE, better targeting and optimization of our ranking capabilities . . . This is really driving higher engagement.' The truth was fully revealed on August 7, 2024, when Cardlytics announced its second quarter 2024 financial results, including a 9% year-over-year decrease in revenue. In an earnings call, Defendants admitted that ' [r]evenue decreased due to a combination of lower-than-expected billings, largely due to under-delivery of budgets we have secured, and higher-than-expected consumer incentive payments.' On this news, the price of Cardlytics stock fell by $3.94, or 57.1%, to close at $2.96 per share on August 8, 2024. About DiCello Levitt At DiCello Levitt, we are dedicated to achieving justice for our clients through class action, business-to-business, public client, whistleblower, personal injury, civil and human rights, and mass tort litigation. Our lawyers are highly respected for their ability to litigate and win cases – whether by trial, settlement, or otherwise – for people who have suffered harm, global corporations that have sustained significant economic losses, and public clients seeking to protect their citizens' rights and interests. Every day, we put our reputations – and our capital – on the line for our clients. DiCello Levitt has achieved top recognition as Plaintiffs Firm of the Year and Trial Innovation Firm of the Year by the National Law Journal, in addition to its top-tier Chambers and Benchmark ratings. The New York Law Journal also recently recognized DiCello Levitt as a Distinguished Leader in trial innovation. For more information about the Firm, including recent trial victories and case resolutions, please visit Attorney Advertising. Prior results do not guarantee a similar outcome. Media Contact Amy Coker 4747 Executive Drive, Suite 240 San Diego, CA 92121 619-963-2426
Associated Press
10-02-2025
- Business
- Associated Press
Class Action Filed Against Cardlytics, Inc. (CDLX) Seeking Recovery for Investors – Contact Levi & Korsinsky
NEW YORK, Feb. 10, 2025 (GLOBE NEWSWIRE) -- 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: 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 Floor New York, NY 10004
Associated Press
27-01-2025
- Business
- Associated Press
Rosen Law Firm Urges Cardlytics, Inc. (NASDAQ: CDLX) Stockholders with Losses in Excess of $100K to Contact the Firm for Information About Their Rights
NEW YORK--(BUSINESS WIRE)--Jan 27, 2025-- Rosen Law Firm, a global investor rights law firm, announces that a shareholder filed a class action on behalf of purchasers of securities of Cardlytics, Inc. (NASDAQ: CDLX) between March 14, 2024 and August 7, 2024. Cardlytics describes itself as a company that 'operates an advertising platform in the United States and the United Kingdom.' For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653. The Allegations: Rosen Law Firm is Investigating the Allegations that Cardlytics, Inc. (NASDAQ: CDLX) Misled Investors Regarding its Business Operations. According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) increasing consumer engagement led to an increase in consumer incentives; (2) Cardlytics 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 Cardlytics' Ads Decision Engine ('ADE'), which led to increased consumer engagement, led to the 'underdelivery' of budgets and customers billing estimates; and (5) as a result of the foregoing, defendants' positive statements about Cardlytics' business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages. What Now: You may be eligible to participate in the class action against Cardlytics, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by March 25, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Rosen Law Firm: Some law firms issuing releases about this matter do not actually litigate securities class actions. Rosen Law Firm does. Rosen Law Firm is a recognized leader in shareholder rights litigation, dedicated to helping shareholders recover losses, improving corporate governance structures, and holding company executives accountable for their wrongdoing. Since its inception, Rosen Law Firm has obtained over $1 billion for shareholders. CONTACT: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 SOURCE: The Rosen Law Firm, P.A. Copyright Business Wire 2025. PUB: 01/27/2025 10:25 AM/DISC: 01/27/2025 10:25 AM
