ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Expensify, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – EXFY
By alexandreBusiness
ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Expensify, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – EXFY
ROSEN, TRUSTED INVESTOR COUNSEL, Encourages Expensify, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – EXFY
Rosen Law Firm, a global investor rights law firm, reminds investors of the upcoming deadline in the securities class action lawsuit filed on behalf of purchasers of the securities of Expensify, Inc. (NASDAQ: EXFY) between May 7, 2021 and October 28, 2021, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Expensify investors under the federal securities laws.
○ IMPORTANT DEADLINE: January 24, 2022
Allegations Against Expensify, Inc.
The lawsuit alleges that Expensify made false and/or misleading statements and/or failed to disclose that: (1) Expensify was experiencing a decline in business growth due to increased competition; (2) Expensify’s customer retention rate was declining; and (3) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On October 28, 2021, after the market closed, Expensify announced its financial results for the third quarter of 2021 and provided disappointing guidance for the fourth quarter, citing increased competition and a decline in customer retention. On this news, Expensify’s stock price fell over 42% in a single trading day, damaging investors.
Since then, Expensify’s stock price has continued to decline, further harming investors. The lawsuit seeks to recover damages caused by Expensify’s alleged violations of the federal securities laws.
What Investors Can Do
If you purchased Expensify securities during the Class Period, you may join the class action as a lead plaintiff, or potentially no later than January 24, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-register-2264. or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of Rosen Law Firm toll-free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or cases@rosenlegal.com.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
About Rosen Law Firm
Rosen Law Firm is dedicated exclusively to recovering investment losses for investors in public and private companies that have misrepresented material facts about their business or violated U.S. securities laws. The firm has offices in New York, California, and North Carolina. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.
Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
