Press release
Investigation announced for Investors in Loyalty Ventures Inc. (OTC: LYLTQ, formerly NASDAQ: LYLT) over potential Wrongdoing
An investigation on behalf of current long term investors in Loyalty Ventures Inc. (OTC: LYLTQ, formerly NASDAQ: LYLT) shares.
Investors who are current long term investors in Loyalty Ventures Inc. (OTC: LYLTQ, formerly 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 for current long term investors in OTC: LYLTQ, formerly NASDAQ: LYLT stocks follows a lawsuit filed over alleged securities laws violations. The investigation on behalf of current long term investors in OTC: LYLTQ, formerly NASDAQ: LYLT stocks, concerns whether certain Loyalty Ventures Inc. officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of Ohio the plaintiff alleges that, the Defendants misled investors and/or failed to disclose that the Air Miles program suffered from a lack of investment prior to the spinoff, that as a result, Sobeys had informed Defendants it was considering exercising its early termination rights, that the threat of Sobeys' departure loomed throughout 2021 including in the timeframe leading up to the spinoff, that Defendants expected the departure of any single large sponsor, such as Sobeys, would have "network effect" on the value of the entire Air Miles program, that the high leverage and debt service obligations foisted upon Loyalty Ventures, in conjunction with the "network effect" impact on the value of the Air Miles business, threatened the Company's ability to continue operations, and that as a result, Defendants' positive statements about the Company's financial guidance, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of Loyalty Ventures Inc. (OTC: LYLTQ, formerly NASDAQ: LYLT) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
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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