Marqeta, Inc.

Registration Deadline:

02/07/2025

Submit Your Information

A securities class action has been filed in the USDC — N.D.CA. against Marqeta, Inc. (MQ) (“Marqeta”, or the “Company”), on behalf of all those that purchased or otherwise acquired Marqeta common stock between May 7, 2024, and November 4, 2024, both dates inclusive (the “Class Period”).

 

Marqeta, Inc. operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services. It offers its solutions in various verticals, including financial services, on-demand services, expense management, and ecommerce enablement, as well as buy now, pay later.

 

The claim arises on November 4, 2024, after market hours, when Marqeta issued a press release entitled “Marqeta Reports Third Quarter 2024 Financial Results.”

 

The complaint alleges that Defendants made materially false and/or misleading statements because they misrepresented and failed to disclose the following adverse facts pertaining to the Company’s business which were known to Defendants or recklessly disregarded by them. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that:

 

(1) Marqeta understated the regulatory challenges affecting its business outlook;

(2) as a result, Marqeta would have to cut its guidance for the fourth quarter of 2024 and;

(3) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

 

On this news, Marqeta’s stock price fell $2.53 per share, or 42.5%, to close at $3.42 per share on November 5, 2024.

 

If you purchased Marqeta common stock during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information.”

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.

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