Case Summary
Cardlytics
NASDAQ: CDLX
Case Details
- Froess v. Cardlytics, Inc. et al.
- Class Period:March 14, 2024 - August 7, 2024
- Date Filed:January 22, 2025
- Jurisdiction:U.S. District Court, Northern District of Georgia
- Docket Number: 1:25-cv-00279
- Lead Plaintiff Deadline: March 25, 2025
Seek Plaintiff 45
Overview
A class action lawsuit has been filed against Cardlytics, Inc. (“Cardlytics” or the “Company”) and certain of the Company’s former senior executive officers alleging violations of the federal securities laws. The Company’s common stock trades in an efficient market on the NASDAQ under the ticker symbol “CDLX.”
The Cardlytics class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Cardlytics securities between March 14, 2024, and August 7, 2024, both dates inclusive (the “Class Period”). Investors have until March 25, 2025, to seek appointment as lead plaintiff in the Cardlytics class action lawsuit.
Cardlytics operates an advertising platform in the United States and the United Kingdom. It offers the Cardlytics platform, a proprietary advertising channel that analyzes anonymized purchase data received primarily from financial institutions to help marketers reach potential buyers. Through these campaigns, consumers are incentivized to purchase from a marketer during a specific period, and Cardlytics funds these consumer incentives using a portion of the fees collected from marketers. The Company’s Ads Decision Engine (“ADE”) is a tool that helps marketers identify and target consumers with relevant ads.
The Cardlytics class action lawsuit alleges that Defendants, throughout the Class Period, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) increasing consumer engagement led to an increase in consumer incentives; (2) that the Company could not increase its billings commensurate with the increased consumer engagement; (3) that, as a result, there was a significant risk that its revenue growth would slow or decline; (4) that the changes to ADE, which led to increased consumer engagement, led to the “under-delivery” of budgets and customers’ billing estimates; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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If you purchased or otherwise acquired Cardlytics securities between March 14, 2024, and August 7, 2024, both dates inclusive, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page.
You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected].
The deadline to apply to the Court to serve as lead plaintiff in the Cardlytics class action lawsuit is March 25, 2025.