Deadline Approaches for Marqeta Investors in Class Action Suit

The Law Offices of Frank R. Cruz are alerting investors about a significant deadline. Investors wishing to serve as lead plaintiffs in a securities fraud class action lawsuit against Marqeta, Inc. (“Marqeta” or the “Company”) must act before February 7, 2025. This lawsuit is intended for those who purchased Marqeta MQ securities between May 7, 2024 and November 4, 2024, known as the “Class Period.”

DID YOU LOSE MONEY INVESTING IN MARQETA, INC. (MQ)? CLICK HERE TO JOIN THE SECURITIES FRAUD LAWSUIT.

Background of the Situation

On November 4, 2024, Marqeta reported disappointing third-quarter 2024 earnings and gave cautious guidance for the fourth quarter. The Company cited “guidance reflects several changes that became apparent over the last few months with regards to the heightened scrutiny of the banking environment and specific customer program changes.”

Following this announcement, Marqeta’s stock suffered a dramatic drop, falling by $2.53, or 42.5%, to finish at $3.42 per share on November 5, 2024. This decline had a significant negative impact on investors.

Details of the Class Action

The class action lawsuit claims that throughout the Class Period, the Defendants made false or misleading statements and failed to disclose critical information about the Company’s performance and prospects. Specifically, the lawsuit alleges that: (1) Marqeta’s investments in compliance and program management were insufficient to handle regulatory scrutiny directed at its banking partners, causing delays in onboarding new customers; and (2) consequently, Defendants’ positive remarks regarding the Company’s business lacked a reasonable foundation.

Act Before the February 2025 Deadline

If you bought or acquired Marqeta securities between May 7, 2024 and November 4, 2024, February 7, 2025 is your last chance to seek lead plaintiff status in this securities fraud class action.

Contact Us for More Information:

To learn more about this class action or if you have questions about your rights regarding the lawsuit, please reach out:

Frank R. Cruz
The Law Offices of Frank R. Cruz
2121 Avenue of the Stars, Suite 800
Century City, California 90067
Email: info@frankcruzlaw.com
Phone: 310-914-5007
Website: www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW

If you choose to contact us by email, please include your mailing address, phone number, and the number of shares purchased.

You do not need to take any action at this time to be included in the class action. You may choose to hire your own attorney, or you can simply remain an absent member of the class. Please note that this press release may be viewed as Attorney Advertising in some jurisdictions according to applicable laws and ethical guidelines.

View the source version on businesswire.com: https://www.businesswire.com/news/home/20250206462089/en/

The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, Phone: 310-914-5007
Email: fcruz@frankcruzlaw.com
Website: www.frankcruzlaw.com