An investigation for investors in Loyalty Ventures Inc. (NASDAQ:LYLT) shares over potential securities laws violations by Loyalty Ventures Inc. was announced.
San Diego, CA -- (SBWIRE) -- 06/22/2022 -- Loyalty Ventures Inc. is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of Loyalty Ventures Inc. (NASDAQ: LYLT), 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 focuses on whether a series of statements by Loyalty Ventures Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
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.
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".
Shares of Loyalty Ventures Inc. (NASDAQ: LYLT) declined from over $34 per share in January 2022 to as low as $4.51 per share on June 8, 2022.
Those who purchased shares of Loyalty Ventures Inc. (NASDAQ: LYLT) have certain options and should contact the Shareholders Foundation.
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