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If you suffered losses in Expensify stock, contact Expensify stock loss lawyer Timothy L. Miles about an Expensify class action lawsuit
INTRODUCTION TO THE EXPENSIFY CLASS ACTION LAWSUIT
The Expensify class action lawsuit seeks to represent purchasers or acquirers of Expensify, Inc. (NASDAQ: EXFY) common stock pursuant and/or traceable to the offering documents issued in connection with Expensify’s initial public offering conducted on or about November 11, 2021 (the “IPO”). Captioned Wilhite v. Expensify, Inc., No. 23-cv-01784 (D. Or.), the Expensify class action lawsuit charges Expensify and certain of its top executive officers and directors with violations of the Securities Act of 1933.
If you suffered losses in Expensify stock and wish to serve as lead plaintiff in the Expensify class action lawsuit, please contact Expensify Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the Expensify class action lawsuit must be filed with the court no later than January 29, 2024. In this comprehensive guide, we will discuss everything an Expensify investor needs to know about the Expensify class action lawsuit. the ALLEGATIONS IN THE EXPENSIFY CLASS ACTION LAWSUIT
Expensify provides a cloud-based expense management software platform to individuals, small businesses, and corporations in the United States and internationally.
The Expensify class action lawsuit alleges that the IPO’s offering documents made false and/or misleading statements and/or failed to disclose that: (i) Expensify’s revenue growth was highly susceptible to structural and macroeconomic headwinds; (ii) as a result, Expensify overstated the efficacy of its business model and the likelihood it would meet the long-term growth projections touted in the offering documents; and (iii) accordingly, Expensify’s post-IPO financial position and/or business prospects were overstated. TheExpensify class action lawsuit alleges that on June 12, 2023, Morgan Stanley downgraded Expensify to Underweight from Equal-weight, citing structural headwinds and Expensify’s risk-reward profile. On this news, Expensify’s stock price fell more than 6%, the complaint alleges. The Expensify class action lawsuit further alleges that on August 8, 2023, Expensify issued a press release announcing its second quarter 2023 financial and operating results, reporting earnings per share of -$0.14, missing the consensus estimate of -$0.07, and revenue of $38.9 million, which likewise missed the consensus estimate of $41.5 million. Expensify also withdrew its previously issued revenue growth guidance, according to the complaint. On this news, Expensify’s stock price fell more than 28%, the Expensify class action lawsuit alleges. Finally, the Expensify class action lawsuit also alleges that on November 7, 2023, Expensify issued a press release announcing third-quarter 2023 financial and operating results that once again missed consensus estimates amid macroeconomic headwinds. Among other items, Expensify reported a third-quarter loss of $0.21 per share and a 14.1% year-over-year revenue decline, according to the complaint. On this news, Expensify’s stock price fell nearly 37%, according to the complaint. LEAD PLAINTIFF DEADLINE IN THE EXPENSIFY CLASS ACTION LAWSUIT
When a securities class action is filed such as the Expensify class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the Expensify class action lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published.
THE LEAD PLAINTIFF PROCESS IN THE EXPENSIFY CLASS ACTION LAWSUIT
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Expensify stock to seek appointment as lead plaintiff in the Expensify class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.
A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Expensify stock and have further questions, contact Expensify stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in an Expensify class action lawsuit if you suffered losses in Expensify stock. A NON-U.S. INVESTOR may SERVE AS LEAD PLAINTIFF IN THE EXPENSIFY CLASS ACTION LAWSUIT
Courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors. Thus, if a non-U.S. investor suffered losses in Expensify stock, they may move the Court to be appointed lead plaintiff in the Expensify class action lawsuit.
THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE EXPENSIFY CLASS ACTION LAWSUIT
Serving as a Lead Plaintiff in the Expensify class action lawsuit has several advantages and important benefits including:
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Expensify if you suffered significant losses in Expensify stock. RESPONSIBILITIES THE LEAD PLAINTIFF will HAVE IN THE EXPENSIFY CLASS ACTION LAWSUIT
A Lead Plaintiff owes a fiduciary duty to the class, and therefore, must act in the best interest of the class in the Expensify class action lawsuit. Some of the responsibilities of the Lead Plaintiff in the Expensify class action lawsuit include:
THE LEAD PLAINTIFFS will not GET MORE MONEY THAN CLASS MEMBERS IF THE EXPENSIFY CLASS ACTION LAWSUIT SETTLES
But they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the Expensify class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the Expensify class action lawsuit on behalf of investors who suffered losses in Expensify stock.
THE COURT may APPOINT MORE THAN ONE LEAD PLAINTIFF IN THE EXPENSIFY CLASS ACTION LAWSUIT
At its discretion, the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs to oversee the Expensify class action lawsuit.
HOW An EXPENSIFY STOCK LOSS LAWYER can HELP you
An Expensify stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals such as the Expensify class action lawsuit. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.
While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct. Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions. One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021). This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. WHEN you CAN EXPECT TO RECEIVE a PAYMENT IF THE EXPENSIFY CLASS ACTION LAWSUIT SETTLES
If there is a settlement in the Expensify class action lawsuit, you should receive a court-ordered Notice through the mail which will provide a date when the court will hold a final hearing to decide if it will approve the settlement. If your address changed, you may also find lawsuits through sites such as Consumer Action and ClassAction.org along with instructions on how to submit a claim. The Notice will instruct you what you need to do to file a claim. In some class action settlements, you are automatically submitted and need to do nothing further. However, in others, you may be required to submit more information to proceed such as documentation proving your purchase, such as a receipt or brokerage slip or other evidence that you bought or sold Expensify stock during the class period and suffered losses in Expensify stock.
The court will hold a final hearing in the Expensify class action lawsuit on a date provided in the Notice to decide whether to finally approve the settlement. If the Court finally approves the settlement, and there are no objections or appeals, settlement payments will be mailed to all Participating Class Members within a few months. However, if there are objections or appeals, resolving them can take a significant amount of time, perhaps more than a year to resolve the Expensify lawsuit. CONTACT AN EXPENSIFY STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN EXPENSIFY STOCK ABOUT A EXPENSIFY CLASS ACTION LAWSUIT
If you suffered losses in Expensify stock, contact Expensify stock loss lawyer Timothy L. Miles today for a free case evaluation about an Expensify class action lawsuit. Call today and see what an Expensify stock loss lawyer could do for you if you suffered losses in Expensify stock.
This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. Expensify stock loss lawyer Timothy L. MilesNashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator, and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, Class Action: Class Action: Top 100 National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America's Most Honored Lawyers 2020; Top 1% by America's Most Honored (2020-2022). Mr. Miles has published over three hundred articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or Resources center and call for free anytime. Comments are closed.
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The Law Offices of Timothy L. Miles Tapestry at Brentwood Town Center 300 Centerview Dr., #247 Brentwood, TN 37027 Phone: (855) 846-6529 Email: [email protected] HOURS OF OPERATION Mon-Fri: 24/7 Sat-Sun: 24/7 |
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