NEW YORK, Nov. 10, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Marqeta, Inc. ("Marqeta" or the "Company") (NASDAQ: MQ). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether Marqeta and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

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On November 4, 2024, Marqeta issued a press release announcing its financial results for the third quarter of 2024.  Marqeta reported weaker-than-expected results and issued "fourth quarter guidance [that] reflects several changes that became apparent over the last few months with regards to the heightened scrutiny of the banking environment and specific customer program changes."  During a related earnings call, the Company's Chief Executive Officer cited changes in "the regulatory environment amongst the smaller banks that support many of our customers' programs[.]" 

On this news, Marqeta's stock price fell $2.53 per share, or 42.52%, to close at $3.41 per share on November 5, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.

Attorney advertising. Prior results do not guarantee similar outcomes. 

CONTACT:

Danielle Peyton

Pomerantz LLP

dpeyton@pomlaw.com 

646-581-9980 ext. 7980

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SOURCE Pomerantz LLP