Recent Securities Litigations

Riskified Ltd. Class A Ordinary Shares (NYSE: RSKD)

5 Days left to seek lead plaintiff status.

Company Name:Riskified Ltd. Class A Ordinary Shares
Stock Symbol:NYSE: RSKD
Class Period Start:07/29/2021
Class Period End (inclusive):05/02/2022
Filing Deadline:07/01/2022

The Complaint alleges that the IPO’s Registration Statement made inaccurate statements of material fact because it failed to disclose the following adverse facts that existed at the time of the IPO: (i) as Riskified expanded its user base, the quality of Riskified’s machine learning platform had deteriorated (rather than improved as represented in the Registration Statement), because of, among other things, inaccuracies in the algorithms associated with onboarding new merchants and entering new geographies and industries; (ii) Riskified had expanded its customer base into industries with relatively high rates of fraud – including partnerships with cryptocurrency and remittance business – in which Riskified had limited experience and that this expansion has negatively impacted the effectiveness of Riskified’s machine learning platform; (iii) as a result, Riskified was suffering from materially higher chargebacks and cost of revenue and depressed gross profits and gross profit margins during its third fiscal quarter of 2021; and (iv) thus, the Registration Statement’s representations regarding Riskified’s historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of Riskified prior to and at the time of the IPO, and were materially false and misleading, and lacked a factual basis.

Riskified Ltd. Class A Ordinary Shares (NYSE: RSKD) Claim Form

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