| COMPANY |
Expensify, Inc. |
| COURT |
United States District Court for the District of Oregon |
| CASE NUMBER |
23-cv-01784 |
| JUDGE |
The Hon. Jolie A Russo |
| CLASS PERIOD |
November 11, 2021 through November 29, 2023 |
| SECURITY TYPE |
Common Stock |
Case Background:
This is a class action lawsuit on behalf of all those who purchased or otherwise acquired Expensify, Inc. ("Expensify" or the "Company") common stock pursuant and/or traceable to the initial registration statement on October 15, 2021, along with several amendments, and a final prospectus on November 12, 2021 (collectively, the "Registration Statement").
The Complaint alleges that the Registration Statement contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and was not prepared in accordance with the rules and regulations governing their preparation. Specifically, the Registration Statement contained false and misleading statements and/or failed to disclose material information relating to: (1) the Company's May 2020 price increase; (2) Defendant Barrett's October 2020 political email; and (3) Expensify's change in business model.
Current Status of Case:
On May 10, 2024, the Lead Plaintiff filed an Amended Complaint. Defendants filed a Motion to Dismiss the Amended Complaint on July 9, 2024. On December 30, 2024, the Court entered Findings and Recommendations as well as an Order partially granting Defendants’ Request for Judicial Notice and Motion to Dismiss as to Securities Act Claims. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.