A lawsuit was filed on behalf of investors in Katapult Holdings, Inc. (NASDAQ:KPLT) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/07/2021 -- An investor, who purchased shares of Katapult Holdings, Inc. (NASDAQ: KPLT), filed a lawsuit against Katapult Holdings, Inc over alleged Securities Laws violations.
Investors who purchased shares of Katapult Holdings, Inc. (NASDAQ: KPLT) have certain options and for certain investors are short and strict deadlines running. Deadline: October 26, 2021. NASDAQ: KPLT investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Plano, TX based Katapult Holdings, Inc., an e-commerce focused financial technology company, provides e-commerce point-of-sale lease-purchase options for nonprime consumers in the United States.
Katapult Holdings, Inc. (NASDAQ: KPLT) went public in November 2019 and raised $250 million in its initial public offering ("IPO").
On August 9, 2021, Katapult Holdings, Inc. announced financial results for the second quarter ended June 30, 2021. Net loss was $8.1 million, down from $5.1 million of net income in the second quarter of 2020. Adjusted net income was $1.5 million, down 70.4% from $5.2 million in the second quarter of 2020.
Shares of Katapult Holdings, Inc. (NASDAQ: KPLT) declined from $19.50 per share in February 2021, to as low as $3.10 per share on August 16, 2021.
The plaintiff claims that between December 18, 2020 and August 10, 2021, the Defendants failed to disclose to investors, that Katapult was experiencing declining e-commerce retail sales and consumer spending, that despite Katapult's assertions that it was clear and compelling value proposition to both consumers and merchants, transforming the way nonprime consumers shop for essential goods and enabling merchant access to this underserved segment, Katapult lacked visibility into its consumers' future buying behavior, and that as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.
Those who purchased shares of Katapult Holdings, Inc. (NASDAQ: KPLT) have certain options and should contact the Shareholders Foundation.
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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.