| COMPANY |
Marqeta, Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
24-cv-08874 |
| JUDGE |
The Hon. Yvonne Gonzalez Rogers |
| CLASS PERIOD |
February 28, 2024 through November 4, 2024 |
| SECURITY TYPE |
Securities |
Case Background:
Marqeta, a Delaware corporation with its principal executive offices in Oakland, California, offers digital payment processing services, and for most of its customers, acts as a card program manager.
The complaint alleges that, throughout the Class Period, 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 misrepresented and/or failed to disclose that: (1) Marqeta understated the regulatory challenges affecting its business outlook; (2) as a result, Marqeta would have to cut its guidance for the fourth quarter of 2024; and (3) as a result, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
Defendants filed the Motion to Dismiss the Amended Complaint on May 15, 2025. The Motion is pending decision before the Court. 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: Jon 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.