WM Technology, Inc.

Registration Deadline:

12/16/2024

Submit Your Information

A securities class action has been filed in the USDC — C.D.CA. against WM Technology, Inc. (MAPS, MAPSW) (“WM” or the “Company”), on behalf of all those that purchased or otherwise acquired WM securities between May 25, 2021 and September 24, 2024, both dates inclusive (the “Class Period”).

 

Defendant WM Technology, Inc. describes itself as the operator of a “leading online cannabis marketplace for consumers together with a comprehensive set of eCommerce and compliance software solutions for cannabis businesses[.]”.

 

The claim arises on September 24, 2024, when the SEC issued a litigation release (the “Release”) in which it announced that it had “charged public company WM Technology, Inc. (Nasdaq: MAPS), its former CEO, Christopher Beals, and its former CFO, Arden Lee, for making negligent misrepresentations in WM Technology’s public reporting of a self-described key operating metric, the “monthly active users,” or “MAU,” for WM Technology’s online cannabis marketplace.”

 

The complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, that:

 

(1) WM Technology’s monthly average user metrics (MAUs) were severely inflated for years; and

(2) 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. When the true details entered the market, the lawsuit claims that investors suffered damages.

 

On this news, the price of WM Technology, Inc. common stock fell by 1.9% to close at $0.92 on September 25, 2024.

 

If you purchased WM 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.

If you suffered a loss on your investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below.

An attorney will contact you at no cost to provide you information about joining the action and answer your questions. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.