San Diego, CA -- (SBWIRE) -- 05/15/2023 -- An investor, who purchased shares of Loyalty Ventures Inc. (OTC: LYLTQ, formerly NASDAQ: LYLT), filed a lawsuit over alleged violations of Federal Securities Laws by Loyalty Ventures Inc. f/k/a Bread Financial Holdings, Inc. in connection with certain allegedly false and misleading statements..

Investors who purchased a significant amount of shares of Loyalty Ventures Inc. (OTC: LYLTQ, formerly NASDAQ: LYLT) between November 8, 2021 and June 7, 2022, have certain options and for certain investors are short and strict deadlines running. Deadline: June 26, 2023. OTC: LYLTQ, formerly NASDAQ: LYLT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Plano, TX based Loyalty Ventures Inc. provides consumer loyalty solutions.
On November 5, 2021, Loyalty Ventures Inc. became a publicly-traded company after its separation from Alliance Data Systems Corporation ("ADS").

On June 8, 2022, Loyalty Ventures Inc. disclosed that its AIR MILES Reward Program segment and AIR MILES' Sponsor, Sobeys were unable to align on extension terms; consequently, Sobeys provided notice of its intent to exit the program on a region-by-region basis, beginning with Atlantic Canada, between August and the first quarter of 2023.

Loyalty Ventures Inc stated, "Given the uncertainty related to the timing of the transition of Sobeys' additional regions and the currency and program timing issues often associated with its BrandLoyalty business, Loyalty Ventures will re-evaluate its 2022 revenue and EBITDA guidance when there is more clarity, which management hopes to have by the time of its second-quarter earnings release".

On March 9, 2023, Loyalty Ventures Inc filed for Chapter 11 Bankruptcy in the United States Bankruptcy Court for the Southern District of Texas.

The plaintiff claims that between November 8, 2021 and June 7, 2022, the Defendants misled investors and/or failed to disclose that the Air Miles program suffered from a lack of investment prior to the spinoff, that as a result, Sobeys had informed Defendants it was considering exercising its early termination rights, that the threat of Sobeys' departure loomed throughout 2021 including in the timeframe leading up to the spinoff, that Defendants expected the departure of any single large sponsor, such as Sobeys, would have "network effect" on the value of the entire Air Miles program, that the high leverage and debt service obligations foisted upon Loyalty Ventures, in conjunction with the "network effect" impact on the value of the Air Miles business, threatened the Company's ability to continue operations, and that as a result, Defendants' positive statements about the Company's financial guidance, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Loyalty Ventures Inc. (OTC: LYLTQ, formerly NASDAQ: LYLT) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.