Marqeta, Inc. Class Action Alert: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California against Marqeta, Inc.

Lead Plaintiff Deadline is February 7, 2025

CLICK HERE TO PROVIDE CONTACT INFORMATION AND JOIN THE CASE

NEW YORK, Dec. 23, 2024 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP  ("Wolf  Haldenstein") announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of all persons or entities who purchased or otherwise acquired Marqeta, Inc. ("Marqeta" or the "Company") (NYSE: MQ) securities between August 7, 2024 and November 4, 2024, both dates inclusive (the "Class Period").

CLICK HERE TO PROVIDE CONTACT INFORMATION AND JOIN THE CASE

All investors who purchased shares and incurred losses are advised to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

The filed Complaint alleges that Marqeta understated the regulatory challenges affecting its business outlook. The Complaint further alleges that as a result, Marqeta would have to cut its guidance for the fourth quarter of 2024. Additionally, the Complaint alleges that as a result, defendants' public statements were materially false and/or misleading at all relevant times.

It is further alleged, that on November 4, 2024, after market hours, Marqeta issued a press release entitled "Marqeta Reports Third Quarter 2024 Financial Results." Additionally, the Complaint alleges that in addition to reporting the Company's Third Quarter results, the announcement gave fourth quarter guidance of 10-12% Net Revenue Growth and 13-15% Gross Profit Growth, as opposed to the projected 16-18% net revenue growth and 22-24% gross profit growth figures.

It is also alleged that the press release further stated that the Company's guidance "reflects several changes that became apparent over the last few months with regards to the heightened scrutiny of the banking environment and specific customer program changes."  

On this news, Marqeta's stock price fell $2.53 per share, or 42.5%, to close at $3.42 per share on November 5, 2024.

If you have incurred losses, you may, no later than February 7, 2025, request that the Court appoint you as the lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.

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 recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at [email protected].

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected] or [email protected]
Tel: (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.

SOURCE Wolf Haldenstein Adler Freeman & Herz LLP