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Faruqi & Faruqi Reminds Marqeta Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of February 7, 2025 - MQ

News Provided by PR Newswire2024-12-12

Faruqi & Faruqi Reminds Marqeta Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of February 7, 2025 - MQ

[12-December-2024]

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Marqeta To Contact Him Directly To Discuss Their Options

If you suffered losses exceeding $50,000 in Marqeta between May 7, 2024 and November 4, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

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NEW YORK, Dec. 12, 2024 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Marqeta, Inc. ("Marqeta" or the "Company") (NASDAQ: MQ) and reminds investors of the February 7, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.

As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Marqeta understated the regulatory challenges affecting its business outlook; (2) as a result, Marqeta would have to cut its guidance for the fourth quarter of 2024; and (3) as a result, defendants public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On November 4, 2024, Marqeta, Inc. issued a press release entitled "Marqeta Reports Third Quarter 2024 Financial Results." In addition to reporting its third quarter results, Marqeta announced lower fourth quarter guidance which reflected "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, the price of Marqeta stock fell $2.53 per share, or 42.5%, to close at $3.42 per share on November 5, 2024.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Marqeta's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

To learn more about the Marqeta class action, go to www.faruqilaw.com/MQ or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.