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Investigation announced for Long-Term Investors in Loyalty Ventures Inc. (NASDAQ: LYLT)

09-20-2022 02:09 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in Loyalty Ventures Inc. (NASDAQ: LYLT) shares over potential wrongdoing.

An investigation on behalf of investors in Loyalty Ventures Inc. (NASDAQ: LYLT) shares over potential wrongdoing.

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Loyalty Ventures Inc. .

Investors who purchased shares of Loyalty Ventures Inc. (NASDAQ: LYLT) NASDAQ: LYLT shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Loyalty Ventures Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.

Plano, TX based Loyalty Ventures Inc. provides consumer loyalty solutions.
On November 5, 2021, Loyalty Ventures Inc. became a publicly-traded company after its separation from Alliance Data Systems Corporation.

On June 8, 2022, Loyalty Ventures Inc. disclosed that its AIR MILES Reward Program segment and AIR MILES' Sponsor, Sobeys were unable to align on extension terms; consequently, Sobeys provided notice of its intent to exit the program on a region-by-region basis, beginning with Atlantic Canada, between August and the first quarter of 2023.

Loyalty Ventures Inc stated, "Given the uncertainty related to the timing of the transition of Sobeys' additional regions and the currency and program timing issues often associated with its BrandLoyalty business, Loyalty Ventures will re-evaluate its 2022 revenue and EBITDA guidance when there is more clarity, which management hopes to have by the time of its second-quarter earnings release".

Shares of Loyalty Ventures Inc. (NASDAQ: LYLT) declined from over $34 per share in January 2022 to as low as $4.51 per share on June 8, 2022.

Those who purchased shares of Loyalty Ventures Inc. (NASDAQ: LYLT) 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.

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