An investigation on behalf of current long term investors in Loyalty Ventures Inc. (OTC:LYLTQ, formerly NASDAQ:LYLT) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 09/11/2023 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Loyalty Ventures Inc..
Investors who are current long term investors in Loyalty Ventures Inc. (OTC: LYLTQ, formerly NASDAQ: LYLT) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in OTC: LYLTQ, formerly NASDAQ: LYLT stocks follows a lawsuit filed against Loyalty Ventures Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in OTC: LYLTQ, formerly NASDAQ: LYLT stocks, concerns whether certain Loyalty Ventures Inc. officers and directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that, 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.
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