Ryvyl Inc. (NASDAQ: RYVL)
On January 29, 2021 the Company filed with the SEC a Registration Statement on Form S-1, which in combination with a February 10, 2021 amendment on Form S-1/A, declared effective on February 12, 2021, and filed pursuant to Rule 424(b)(4) are collectively referred to as the Registration Statement and issued in connection with the Company's initial public offering. The Complaint alleges that the Registration Statement was false and/or misleading and/or failed to disclose that: (1) the Company would restate certain financials; (2) the Company’s internal controls were inadequate; (3) the Company downplayed and obfuscated its internal controls issues; and (4) as a result, the Registration Statement was materially false and/or misleading at all relevant times.