SAN DIEGO, Dec. 02, 2023 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announced that a lawsuit was filed for certain investors in NASDAQ: EXFY shares against Expensify, Inc.
Investors, who lost more than $200,000 with shares of Expensify, Inc. (NASDAQ: EXFY), have certain options and there are short and strict deadlines running. Deadline: January 29, 2024. Those NASDAQ: EXFY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Shares of Expensify, Inc. began trading in November 2021 under NASDAQ: EXFY at $27 per share. Since then, NASDAQ: EXFY shares lost significant in value and traded as recently as November 8th as low as $1.52 per share following Expensify’s announcement of its third quarter 2023 financial results.
Subsequently, on November 30, 2023, an investor in NASDAQ: EXFY shares filed a lawsuit against Expensify, Inc. alleging violations of securities laws. The plaintiff alleges that the Offering Documents that were filed in connection with the Company's November 2021 initial public offering (“IPO”) were false and/or misleading statements and/or failed to disclose that Expensify's revenue growth was highly susceptible to structural and macroeconomic headwinds, that as a result, the Company overstated the efficacy of its business model and the likelihood it would meet the long-term growth projections touted in the Offering Documents, that accordingly, the Company's post-IPO financial position and/or business prospects were overstated, and that as a result, Defendants' statements about the Company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased Expensify, Inc. (NASDAQ: EXFY) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
