Investigation announced for Long-Term Investors in shares of Nextdoor Holdings, Inc. (NYSE: KIND) over potential Wrongdoing

An investigation was announced for long-term investors in shares of Nextdoor Holdings, Inc. (NYSE: KIND) concerning potential breaches of fiduciary duties by certain directors and officers of Nextdoor Holdings, Inc.

Investors who are current long term investors in Nextdoor Holdings, Inc. (NYSE: KIND) 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 NYSE: KIND stocks follows a lawsuit filed against Nextdoor Holdings, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: KIND stocks, concerns whether certain Nextdoor Holdings, Inc. 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 Northern District of California the plaintiff alleges that, the defendants made false and/or misleading statements and/or failed to disclose thatNextdoor's financial results prior to the merger had been temporarily inflated by the ephemeral effects of the COVID-19 pandemic, which had pulled forward demand for Nextdoor's platform and cannibalized future advertising revenue growth, that rather than being sustained, such growth trends had already begun reversing at the start between July 6, 2021 and November 8, 2022, that Nextdoor's total addressable market was materially smaller than the 312 million households represented to investors, and that by the start between July 6, 2021 and November 8, 2022, Nextdoor's most important market - the U.S. market - was already substantially saturated, impairing Nextdoor's ability to monetize users and increase its average revenue per weekly active user ("ARPU") or U.S. weekly active users ("WAUs").

Those who purchased shares of Nextdoor Holdings, Inc. (NYSE: KIND) 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.

This release was published on openPR.