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NEW YORK, Jan. 15, 2025 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein"), a preeminent national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Dave Inc. ("Dave" or the "Company") (NASDAQ:DAVE).
The investigation concerns whether Dave Inc. and certain of its officers and/or directors have engaged in securities fraud.
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In November 2024, the United States ("U.S.") Federal Trade Commission ("FTC") filed a complaint against Dave, alleging that the Company's marketing misled consumers and that Dave's cash advance app charged undisclosed fees. Then, during post-market hours on December 30, 2024, it was announced that the U.S. Department of Justice ("DOJ"), on behalf of the FTC, filed an amended complaint against the Company, alleging that Dave lured users to its personal finance app by advertising cash advances of up to $500 that many never receive. According to the DOJ, the amended complaint seeks unspecified amounts of consumer redress and monetary civil penalties from the defendants and a permanent injunction to prohibit them from engaging in future violations.
On this news, Dave's stock price fell sharply during intraday trading on December 31, 2024.
Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly lauded by the courts, which have appointed it to major positions in complex securities, multi-district and consolidated litigation.
If you wish to discuss this investigation or have any questions regarding your rights and interests, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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