A securities class action has been filed in the USDC – N.D.CA. against of Nextdoor Holdings, Inc. (f/k/a Khosla Ventures Acquisition Co. II) (“Nextdoor” or the “Company”) on behalf of all purchasers of Nextdoor publicly traded Class A common stock between July 6, 2021 and November 8, 2022 both dates inclusive (the “Class Period”).

The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:

(1) Nextdoor’s financial results prior to the merger had been temporarily inflated by the ephemeral effects of the COVID-19 pandemic, which had pulled forward demand for Nextdoor’s platform and cannibalized future advertising revenue growth;

(2) rather than being sustained, such growth trends had already begun reversing at the start of the Class Period;

(3) Nextdoor’s total addressable market was materially smaller than the 312 million households represented to investors; and

(4) by the start of the Class Period, Nextdoor’s most important market – the U.S. market – was already substantially saturated, impairing Nextdoor’s ability to monetize users and increase its average revenue per weekly active user (“ARPU”) or U.S. weekly active users (“WAUs”).

If you purchased Nextdoor 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”.

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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.