Cardlytics, Inc.

Registration Deadline:

03/25/2025

A securities class action has been filed in the USDC N.D.GA. against Cardlytics, Inc. (CDLX) (“Cardlytics ” or the “Company”), on behalf of all persons or entities who purchased or otherwise acquired Cardlytics securities between March 14, 2024, and August 7, 2024, both dates inclusive (the “Class Period”).

 

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 specified 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 Complaint alleges that, throughout the Class Period, the Defendants 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, thereby harming investors.

 

As a result, Cardlytics’ stock price fell $3 .94, or 57 .1 %, to close at $2.96 per share on August 8, 2024.

 

If you purchased Cardlytics securities 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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