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 INFO ...

Core Viewpoint - The Schall Law Firm is investigating claims against Dave Inc. for potential violations of securities laws, particularly in light of a civil enforcement action by the DOJ and FTC regarding misleading advertising and hidden fees [1][2]. Group 1: Investigation Details - The investigation centers on whether Dave Inc. made false or misleading statements and failed to disclose important information to investors [2]. - The DOJ and FTC's civil enforcement action, announced on December 30, 2024, alleges that Dave Inc. and its CEO Jason Wilk violated the FTC Act and the Restore Online Shoppers' Confidence Act (ROSCA) [2]. Group 2: Allegations Against the Company - The government's lawsuit claims that Dave Inc. misled consumers through deceptive advertising related to cash advances and imposed hidden fees [2].

Company Overview - Dave Inc is a financial services company providing digital banking services including cash advances budgeting tools and side hustle job applications [1] - The company is headquartered in Los Angeles California and is listed on NASDAQ under the ticker DAVE [1] Legal Investigation - Moore Law PLLC is investigating potential claims against Dave Inc and its executives [1] - The investigation follows a civil enforcement action by the Justice Department and FTC against Dave Inc and its co-founder Jason Wilk [2] - The lawsuit alleges deceptive advertising of cash advances hidden fees misrepresentation of customer tip usage and improper recurring fee charges [2] Market Impact - Dave shares opened at $84 00 on December 31 2024 representing a 10% drop from the previous day [3] - Shareholders are encouraged to contact Moore Law PLLC for potential damages corporate reforms and reimbursement [3] Legal Representation - Moore Law PLLC is a NYC based plaintiff contingency litigation law firm specializing in investor representation [4] - The firm focuses on holding corporate officers accountable for breaches of fiduciary duty fraud insider trading and other misconduct [4] - Services are provided to individual clients at no cost [4]

LOS ANGELES, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Dave Inc. ("Dave" or the "Company") (NASDAQ:DAVE), one of the nation's leading neobanks, today announced that the Company will participate in the upcoming Needham Growth Conference at the Lotte New York Palace Hotel in New York, NY on Wednesday, January 15, 2025. The team will present at 8:45am ET. Please click here to view the live event. A replay of the presentation will also be available on the Dave investor relations website at investors.dave.com. About Dav ...

LOS ANGELES, Jan. 09, 2025 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation’s leading neobanks, today announced that the Company will participate in the upcoming Needham Growth Conference at the Lotte New York Palace Hotel in New York, NY on Wednesday, January 15, 2025. The team will present at 8:45am ET. Please click here to view the live event. A replay of the presentation will also be available on the Dave investor relations website at investors.dave.com. About Da ...

NEW YORK, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Dave, Inc. (“Dave” or the “Company”) (NASDAQ: DAVE) on behalf of Dave stockholders. Our investigation concerns whether Dave has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. On December 30, 2024, the Justice Department, together with the Federal Trade Commiss ...

Core Insights - Dave & Buster's Entertainment, Inc. is facing significant challenges in a conflicting consumer environment, particularly impacting lower-income consumers whose spending has decreased at twice the rate of higher-income groups [1][2] - The company's stock has underperformed, declining 43% over the past year, while the broader restaurant industry has seen a growth of 6.8% [3][5] - Comparable store sales have decreased by 7.7% year over year during the third quarter of fiscal 2024, primarily due to a drop in walk-in transactions [8] Financial Performance - The stock closed at $29.48, which is nearly 58% below its 52-week high of $69.82, and is trading below both its 50-day and 200-day moving averages, indicating a bearish trend [5][6] - The company has refinanced part of its debt, raising a $700 million term loan and increasing its revolving credit facility to $650 million, resulting in long-term debt rising to $1.44 billion from $1.28 billion [10] - The Zacks Consensus Estimate for fiscal 2025 and 2026 earnings per share has declined by 3.8% and 12.7%, respectively, indicating a decrease in analyst confidence [12] Operational Challenges - The fiscal third quarter, typically the lowest seasonal volume period, faced challenges due to a fiscal calendar mismatch, unfavorable weather, and disruptions from remodel construction [9] - Inflationary pressures are expected to adversely affect the company's operations, with rising commodity prices and labor costs potentially limiting profitability [11] Strategic Initiatives - The company is implementing six key organic growth initiatives, including optimizing marketing strategies and enhancing food and beverage offerings [14][15] - A remodel program is underway, with 44 stores set for upgrades by the end of fiscal 2024, aimed at improving customer experience [15] - Dave & Buster's is also focusing on expanding its loyalty program, which currently has over 7 million members, to encourage more frequent visits and spending [14] Valuation Perspective - The company is currently trading at a forward 12-month price-to-earnings (P/E) multiple of 10.72X, significantly below the industry average of 25.30X, presenting a potential investment opportunity [16] Overall Assessment - While the company is taking steps to revitalize growth through strategic initiatives, it faces near-term pressures from declining sales, inflation, and balance sheet concerns [18]

Core Viewpoint - Dave Inc. (DAVE) has demonstrated exceptional stock performance, with a 181% increase over the past six months, significantly outperforming its industry and the S&P 500 [1][4]. Company Performance - DAVE's stock closed at $86.3, which is 25.7% lower than its 52-week high of $108.5, yet it is trading above its 50-day moving average, indicating positive investor sentiment [4]. - The company has a trailing 12-month return on equity (ROE) of 17.2%, compared to the industry average of 3.4%, reflecting effective use of shareholder investments [14]. - The current ratio stands at 6.81, significantly higher than the industry's 2.16, indicating strong liquidity and the ability to meet short-term obligations [17]. Business Model and Innovation - DAVE's primary product is cash advances ranging from $50 to $250, which help customers avoid overdraft fees [5]. - The company utilizes AI and machine learning to enhance its credit model, allowing for efficient cash advance disbursement and low credit losses of 1.3% [8][9]. - DAVE has three methods for customers to access cash advances, with varying fees, making the service appealing and versatile [6][7]. Customer Growth and Acquisition - DAVE has seen a consistent increase in new members, with 566,000 new members in Q1 2024, a 26.5% increase in Q2, and a 19.3% increase in Q3 [10]. - The Customer Acquisition Cost (CAC) has decreased from $16 in Q1 2024 to $15 in Q2, indicating a more efficient growth strategy [11]. Financial Outlook - The Zacks Consensus Estimate for DAVE's 2024 revenues is $341.3 billion, representing a 31.7% growth year-over-year, with anticipated earnings of $4.2 per share [19]. - For 2025, revenue is expected to grow by 21.6%, and earnings are projected to increase by 22.2% year-over-year [19]. Investment Appeal - DAVE's stock is currently priced at 30.8 times forward 12-month earnings per share, lower than the industry average of 45.7 times, suggesting it is undervalued [13]. - The combination of a strong business model, innovative technology, and favorable financial metrics positions DAVE as an attractive investment opportunity [20].

NEW YORK, Jan. 05, 2025 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Dave Inc. (NASDAQ: DAVE) resulting from allegations that Dave may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Dave securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen ...

Legal Investigation and Shareholder Impact - Rosen Law Firm is investigating potential securities claims on behalf of Dave Inc (NASDAQ: DAVE) shareholders due to allegations of materially misleading business information [1] - Shareholders who purchased Dave securities may be entitled to compensation through a contingency fee arrangement without out-of-pocket costs [2] - Dave's share price fell approximately 8% on December 31, 2024, following news of the investigation [4] Regulatory Action Against Dave Inc - The Justice Department and FTC announced a civil enforcement action against Dave Inc and its CEO Jason Wilk on November 12, 2024, for alleged violations of the FTC Act and ROSCA [3] - The lawsuit alleges deceptive advertising of cash advances, hidden fees, misrepresentation of customer tip usage, and recurring monthly fees without a simple cancellation mechanism [3] Rosen Law Firm's Credentials - Rosen Law Firm specializes in securities class actions and shareholder derivative litigation, with a global investor client base [5] - The firm achieved the largest securities class action settlement against a Chinese company and ranked No 1 by ISS Securities Class Action Services in 2017 [5] - Rosen Law Firm has consistently ranked in the top 4 for securities class action settlements since 2013 and secured over $438 million for investors in 2019 [5]