Case Background:
This is a securities fraud class action lawsuit on behalf of persons and entities that purchased or otherwise acquired Marqeta, Inc. (“Marqeta”) (NASDAQ: MQ) securities between February 20, 2024 and November 4, 2024, inclusive (the “Class Period”).
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:
On May 15, 2025, Defendants filed a Motion to Dismiss the Amended Complaint. This action is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; 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.