Deadline on July 1st coming up in Lawsuit for Investors in Riskified Ltd. (NYSE: RSKD)

A deadline is coming up on July 1, 2022 in the lawsuit filed for certain investors of Riskified Ltd. (NYSE: RSKD) over alleged securities laws violations by Riskified Ltd.

Investors who purchased shares of Riskified Ltd. (NYSE: RSKD) have certain options and there are strict and short deadlines running. Deadline: July 1, 2022. NYSE: RSKD stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of purchasers of Riskified Ltd. (NYSE: RSKD) common shares, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the IPO's Registration Statement made inaccurate statements of material fact because they failed to disclose the following adverse facts that existed at the time of the IPO: (i) as Riskified Ltd. expanded its user base, the quality of Riskified's machine learning platform had deteriorated (rather than improved as represented in the Registration Statement), because of, among other things, inaccuracies in the algorithms associated with onboarding new merchants and entering new geographies and industries; (ii) Riskified Ltd had expanded its customer base into industries with relatively high rates of fraud - including partnerships with cryptocurrency and remittance business - in which Riskified had limited experience and that this expansion has negatively impacted the effectiveness of Riskified's machine learning platform; (iii) as a result, Riskified Ltd was suffering from materially higher chargebacks and cost of revenue and depressed gross profits and gross profit margins during its third fiscal quarter of 2021; and (iv) thus, the Registration Statement's representations regarding Riskified's historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of Riskified Ltd prior to and at the time of the IPO, and were materially false and misleading, and lacked a factual basis.

Those who purchased shares of Riskified Ltd. (NYSE: RSKD) have certain options and should contact the Shareholders Foundation.

Contact:
Christopher Clausen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.