Cardlytics, Inc. Class Action Alert: Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Georgia against Cardlytics, Inc.

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NEW YORK, Jan. 30, 2025 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”) announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of Georgia, on behalf of persons and entities that purchased or otherwise
acquired Cardlytics, Inc. (“Cardlytics” or the “Company”) (NASDAQ: CDLX) securities between March 14, 2024 and August 7, 2024, inclusive (the “Class Period”).

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All investors who purchased shares and incurred losses are advised to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

The filed 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 failed to disclose to investors:

• increasing consumer engagement led to an increase in consumer incentives;
• that the Company could not increase its billings commensurate with the increased consumer engagement;
• that, as a result, there was a significant risk that its revenue growth would slow or decline;
• that the changes to ADE, which led to increased consumer engagement, led to the
  “under-delivery” of budgets and customers billing estimates; and
• that, because of the foregoing, Defendants’ positive statements about the Company’s
  business, operations, and prospects were materially misleading and/or lacked a
  reasonable

On May 8, 2024, after the market closed, the Company revealed that its first quarter 2024 revenue only increased 8% year-over-year, despite a 12% increase in billings, due to a 20.2% increase in consumer incentives.

On this news, the Company’s stock price fell $5.33, or 36.5%, to close at $9.27 per share on May 9, 2024.

On August 7, 2024, after the market closed, Cardlytics released its second quarter 2024 financial results, revealing a 9% year-over-year decrease in revenue to $69.6 million, alongside a 3% decline in adjusted contribution to $36.4 million. The press release also disclosed that Karim Temsamani had stepped down as Chief Executive Officer and from the Board of Directors.

On this news, Cardlytics’ stock price fell $3.94, or 57.1%, to close at $2.96 per share on August 8, 2024, on heavy trading volume.

If you have incurred losses, you may, no later than March 25, 2025, request that the Court appoint you as the lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.

Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at [email protected].

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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