Trending...
- Why Buying a Home at Christmas will be Your Best Christmas Ever
- Play with Purpose: Meemzy Magic Sensory Kits Support Child Development in a Fun Format
- California: Governor Newsom announces top former CDC officials to lead public health innovation, collaboration
LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Riskified Ltd. ("Riskified" or "the Company") (NYSE: RSKD) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Riskified's machine learning platform degraded in quality as its userbase expanded, despite its promises that the platform would improve. This loss of quality was in part caused by algorithm flaws associated with new merchants and new geographic areas. The Company expanded its operations into industries that suffer from high rates of fraud, such as cryptocurrencies, further damaging the effectiveness of its platform. Based on these business decisions, the Company suffered from higher chargebacks, higher cost of revenue, and lower gross profits in the third quarter of 2021. Based on these facts, the Company's public statements were false and materially misleading throughout the IPO period. When the market learned the truth about Riskified, investors suffered damages.
More on The Californer
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
More on The Californer
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Contacts
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Riskified's machine learning platform degraded in quality as its userbase expanded, despite its promises that the platform would improve. This loss of quality was in part caused by algorithm flaws associated with new merchants and new geographic areas. The Company expanded its operations into industries that suffer from high rates of fraud, such as cryptocurrencies, further damaging the effectiveness of its platform. Based on these business decisions, the Company suffered from higher chargebacks, higher cost of revenue, and lower gross profits in the third quarter of 2021. Based on these facts, the Company's public statements were false and materially misleading throughout the IPO period. When the market learned the truth about Riskified, investors suffered damages.
More on The Californer
- Cytranet Announces Expansion: New Fiber Optic Network to Serve Southern California
- A New Standard for San Fernando Valley Real Estate
- UK Financial Ltd Launches U.S. Operations Following Delaware Approval
- Laurie McLennan Identified as Leading Luxury Real Estate Authority for La Quinta's Premier Private
- Christmas Gift Ideas for Her: Affordable Luxury Jewellery
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
More on The Californer
- Easton Cain Debuts Parabolic: A One-Hour Midnight Exhibition Opening New Year's Day
- Car Wash in Northridge's $8 Price is Cheaper Than Competitors Prices Even With a Promo Code
- VCCCD Board Elects Leadership for New Year
- City of Long Beach Preparing for Upcoming Weather Event, Encourages Residents to Take Precautions
- Easiest Self Wash in Northridge CA
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
Contacts
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com
Filed Under: Business
0 Comments
Latest on The Californer
- The Womens Freedom Song Contest Launches!
- Ventura Chamber of Commerce Names Cumulus Media VP Sommer Frisk "Shining Star of the Year"
- City of Long Beach to Host Second Business Networking Event Along Santa Fe Avenue Corridor
- New Year's Business Resolution: "Sell Everything and Sell it NOW!"
- Beycome Closes $2.5M Seed Round Led by InsurTech Fund
- IPoly Seniors Tackle Local Infrastructure Challenges Through Civic Action Projects
- Long Beach Health Department Urges Community to Avoid Kratom and 7-OH Products Amid Rising Overdose Risk
- IPoly High School Earns 'All Blue' State Achievement Distinction, Receives Golden Bell Award
- Sonet.io Unveils Safer Enterprise Architecture for AI Agents Without Internet Exposure
- New Year's Business Resolution Number One: Start using this very effective Marketing Math Today!
- Tru by Hilton Columbia South Opens to Guests
- Christy Sports donates $56K in new gear to SOS Outreach to help kids hit the slopes
- As Donald Trump attempts to restrict health care for LGBTQ youth, California partners with The Trevor Project to launch statewide suicide prevention training for 988 crisis counselors
- "BigPirate" Sets Sail: A New Narrative-Driven Social Casino Adventure
- Phinge CEO Ranked #1 Globally by Crunchbase for the Last Week, Will Be in Las Vegas Jan. 4-9, the Week of CES to Discuss Netverse & IPO Coming in 2026
- Americans Just Spent $44 Billion Online in Five Days — And Smart Entrepreneurs Are Cashing In Year-Round
- Long Beach Open Coastal Swimming Areas Temporarily Closed Due to Sewage Spill
- New Analysis from Eric Galuppo Links Reactive Management to System Design Failures
- City of Long Beach Facilities and Services Schedule for Christmas Day and New Year's Day
- Long Beach Airport's Rental Car Services Move into Historic Terminal