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Bragar Eagel & Squire, P.C. Is Investigating Cardlytics, Medpace, Customers Bancorp, and Ibotta and Encourages Investors to Contact the Firm
Globe Newswire 30-Sep-2024 9:00 PM
NEW YORK, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Cardlytics, Inc. (NASDAQ:CDLX), Medpace Holdings, Inc. (NASDAQ:MEDP), Customers Bancorp, Inc. (NYSE:CUBI), and Ibotta, Inc. (NYSE:IBTA). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
On August 7, 2024, Cardlytics announced its second quarter 2024 financial results, revealing a 9% year-over-year decrease in revenue to $69.6 million, alongside a 3% decline in adjusted contribution to $36.4 million. The Company also disclosed that Karim Temsamani stepped down as Chief Executive Officer and from the Board of Directors.
On this news, Cardlytics' stock price fell $3.94 per share, or 57.10%, to close at $2.96 per share on August 8, 2024.
On July 22, 2024, after market hours, Medpace released its second quarter 2024 financial results, significantly missing expectations. In an earnings call the following day, July 23, 2024, the Company stated that "cancellations were disproportionately high in the month of June" due to "reprioritization, impaired sponsor liquidity, and acquisition of one sponsor by a large pharma with subsequent decision to move the work to an existing preferred provider."
On this news, Medpace's stock price fell $79.88, or 18.3%, to close at $357.30 per share on July 23, 2024, thereby injuring investors.
On April 12, 2024, Customers Bancorp disclosed in a filing with the U.S. Securities and Exchange Commission ("SEC") that its Executive Vice President and Chief Financial Officer ("CFO"), Carla Leibold, "was notified of her termination from employment with the Company on April 10, 2024, for ‘cause' under her employment agreement for violating Company policy, which termination was effective immediately." The Company also reported that Ms. Leibold "has disputed the Company's characterization of her separation from the Company." On this news, Customers Bancorp's stock price fell $2.40 per share, or 4.9%, to close at $46.62 per share on April 15, 2024. Then, on April 25, 2024, Customers Bancorp disclosed in additional SEC filings that, contrary to its previous announcement that Ms. Leibold had been terminated for cause, the Company and Ms. Leibold had "agreed that the termination of Ms. Leibold's employment is a separation by mutual agreement," pursuant to which agreement Ms. Leibold was entitled to receive $2.5 million in cash. On this news, Customers Bancorp's stock price fell $2.71 per share, or 5.47%, to close at $46.82 per share on April 26, 2024.
On August 13, 2024, Ibotta released its second quarter 2024 financial results, revealing a net loss of $34 million, a 19% decline in direct-to-consumer redemptions, and a 7% reduction of direct-to-consumer redeemers.
On this news, Ibotta's stock price fell $15.53, or 26.7%, to close at $42.66 per share on August 14, 2024, thereby injuring investors.
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
