Cardlytics(CDLX) Prnewswire·2025-02-20 10:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Cardlytics, Inc. regarding a class action lawsuit due to alleged misleading statements and omissions made by the company during a specified class period [1]. Group 1: Allegations - The complaint alleges that during the class period from March 14, 2024, to August 7, 2024, Cardlytics made materially false and misleading statements [1]. - Key allegations include that increasing consumer engagement led to higher consumer incentives, but the company could not increase its billings accordingly, posing a risk of slowed or declining revenue growth [1]. - It is also claimed that changes to the Ads Decision Engine resulted in "under-delivery" of budgets and customer billing estimates, further misleading investors about the company's business prospects [1]. Group 2: Class Action Details - Shareholders who purchased shares of Cardlytics during the class period are encouraged to register for the class action, with a deadline set for March 25, 2025 [2]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the status of the case [2]. - There is no cost or obligation for shareholders to participate in this class action [2]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors affected by deceit and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements or omissions [3].