Law Offices of Howard G. Smith have initiated an investigation on behalf of Cardlytics, Inc. (“Cardlytics” or the “Company”) investors, citing potential breaches of federal securities laws related to recent events.
Financial Results Fall Short
Cardlytics released its second-quarter 2024 financial results on August 7, 2024. The company underperformed against consensus estimates due to slower billings growth than expected, coupled with higher consumer incentives. The company attributed these issues to delivery problems and rapid changes in its technology platform, leading to unpredictable advertiser budget deliveries.
Stock Price Plummets
Following this announcement, Cardlytics’ stock price experienced a sharp decline. The stock plummeted by $3.94, or 57.1%, closing at $2.96 per share on August 8, 2024, resulting in significant losses for investors.
Investor Recourse
Investors who have purchased Cardlytics securities and wish to obtain more information about the investigation, or have questions regarding their rights in this matter, are encouraged to reach out to Howard G. Smith, Esquire, at the Law Offices of Howard G. Smith. Contact information is available at 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, or via email at howardsmith@howardsmithlaw.com.
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