Cardlytics(US:CDLX) Prnewswireยท2025-03-13 14:52Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Cardlytics, Inc. due to alleged violations of federal securities laws, encouraging affected investors to come forward [2][4]. Group 1: Legal Investigation and Claims - The law firm is urging investors who suffered losses exceeding $50,000 in Cardlytics between March 14, 2024, and August 7, 2024, to discuss their legal rights [1]. - A federal securities class action has been filed against Cardlytics, with a deadline of March 25, 2025, for investors to seek the role of lead plaintiff [2][7]. - The firm has a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [3]. Group 2: Allegations Against Cardlytics - The complaint alleges that Cardlytics and its executives made false or misleading statements and failed to disclose critical information regarding consumer engagement and revenue growth [4]. - Specific allegations include the inability to increase billings in line with consumer engagement and the risk of slowing or declining revenue growth [4]. Group 3: Financial Performance and Stock Impact - On May 8, 2024, Cardlytics reported an 8% year-over-year revenue increase, which was overshadowed by a 20.2% rise in consumer incentives, leading to a stock price drop of $5.33 (36.5%) to $9.27 per share [5]. - Following the release of second quarter 2024 results on August 7, 2024, which showed a 9% year-over-year revenue decrease to $69.6 million, the stock price fell by $3.94 (57.1%) to $2.96 per share [6].