SAN DIEGO, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a class action was filed on behalf of all persons and entities who purchased or otherwise acquired Marqeta, Inc. (NASDAQ: MQ) securities between August 7, 2024 and November 4, 2024. Marqeta creates digital payment technology for innovation leaders. For more information, submit a form , email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Marqeta, Inc. (MQ) Failed to Disclose the Impact of Regulatory Scrutiny on its Business Prospects According to the complaint, during the class period, defendants failed to disclose that Marqeta understated the regulatory challenges affecting its business outlook and therefore, would have to cut its guidance for the fourth quarter of 2024. The complaint alleges that on November 4, 2024, Marqeta announced third quarter 2024 financial results and revised its fourth quarter projections to "reflect[] several changes that became apparent over the last few months with regards to the heightened scrutiny of the banking environment and specific customer program changes." The complaint further alleges that Marqeta's CEO and CFO actually knew of the heightened regulatory scrutiny affecting the Company's business from the beginning of the year, which they revealed in connection with the November 4 announcement. On this news, Marqeta’s stock price fell $2.53 per share, or 42.5%, to close at $3.42 per share on November 5, 2024. What Now : You may be eligible to participate in the class action against Marqeta, Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by February 7, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here . All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP : A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Marqeta, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/53e69218-456a-4e86-81b7-b14619b1f825
NoneNEW YORK (AP) — Stocks slipped in afternoon trading Friday as Wall Street closes out a rare bumpy week. The S&P 500 fell 0.2%, and is on track for a loss for the week after three straight weekly gains. The Dow Jones Industrial Average fell 81 points, or 0.2% to 43,833 as of 12:56 p.m. Eastern time. The Nasdaq fell 0.3% and is hovering around its record. Broadcom surged 20.2% after the semiconductor company beat Wall Street’s profit targets and gave a glowing forecast, highlighting its artificial intelligence products. The company also raised its dividend. The company's big gain helped cushion the market's broader fall. Pricey stock values for technology companies like Broadcom give the sector more weight in pushing the market higher or lower. Artificial intelligence technology has been a focal point for the technology sector and the overall stock market over the last year. Tech companies, and Wall Street, expect demand for AI to continue driving growth for semiconductor and other technology companies. Furniture and housewares company RH, formerly known as Restoration Hardware, surged 14.3% after raising its forecast for revenue growth for the year. Wall Street's rally stalled this week amid mixed economic reports and ahead of the Federal Reserve's last meeting of the year. The central bank will meet next week and is widely expected to cut interest rates for a third time since September. Expectations of a series of rate cuts has driven the S&P 500 to 57 all-time highs so far this year . The Fed has been lowering its benchmark interest rate following an aggressive rate hiking policy that was meant to tame inflation. It raised rates from near-zero in early 2022 to a two-decade high by the middle of 2023. Inflation eased under pressure from higher interest rates, nearly to the central bank's 2% target. The economy, including consumer spending and employment, held strong despite the squeeze from inflation and high borrowing costs. A slowing job market, though, has helped push a long-awaited reversal of the Fed's policy. Inflation rates have been warming up slightly over the last few months. A report on consumer prices this week showed an increase to 2.7% in November from 2.6% in October. The Fed's preferred measure of inflation, the personal consumption expenditures index, will be released next week. Wall Street expects it to show a 2.5% rise in November, up from 2.3% in October. The economy, though, remains solid heading into 2025 as consumers continue spending and employment remains healthy, said Gregory Daco, chief economist at EY. “Still, the outlook is clouded by unusually high uncertainty surrounding regulatory, immigration, trade and tax policy,” he said. Treasury yields edged higher. The yield on the 10-year Treasury rose to 4.39% from 4.34% late Thursday. European markets slipped. Britain's FTSE 100 fell 0.1%. Britain’s economy unexpectedly shrank by 0.1% month-on-month in October, following a 0.1% decline in September, according to data from the Office for National Statistics. Asian markets closed mostly lower.
Dogecoin Investors Are Moving to LCAI: Here’s Why Lightchain Protocol AI Is the Better BuyFormer Tulane quarterback Darian Mensah has already found a new program in Duke, while Mississippi State's Michael Van Buren Jr., Wisconsin's Braedyn Locke and Cal’s Fernando Mendoza are exploring changes of their own in the transfer portal . Mensah, a redshirt freshman with three years of eligibility remaining, told ESPN on Wednesday he has transferred to Duke. He attended the Blue Devils men's basketball game against Incarnate Word on Tuesday night. The Blue Devils (9-3) will face Mississippi in the Gator Bowl, but without 2024 starting quarterback Maalik Murphy and backup Grayson Loftis, who also entered the portal. Mensah, viewed as one of the top players in the portal, threw for 2,723 yards and 22 touchdowns and completed 65.9% of his passes. He led the Green Wave to a 9-4 record and the American Athletic Conference championship game, where they lost 35-14 to Army. Tulane will play Florida in the Gasparilla Bowl on Sunday. Van Buren, Mendoza and Locke announced on social media they had entered the portal. Van Buren started eight games as a true freshmen for the Bulldogs. He threw for 1,886 yards on 55% passing with 16 total touchdowns and seven interceptions for the Bulldogs (2-10, 0-8 Southeastern Conference). He took over as the starter when Blake Shapen suffered a season-ending shoulder injury in a 45-28 loss to Florida on Sept. 21. Shapen has said he plans to return next season. Van Buren, a 6-foot-1, 200-pound passer from St. Frances Academy in Maryland, had two 300-yard performances for the Bulldogs, including 306 yards and three touchdown passes in a 41-31 road loss against Georgia. Mendoza threw for 3,004 yards in 2024 with 16 TDs, six interceptions and a 68.7 completion percentage. “For the sake of my football future this is the decision I have reached,” he posted. Locke passed for 1,936 yards with 13 touchdowns and 10 interceptions for Wisconsin this season. He said he will have two years of eligibility remaining at his next school. Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here . AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football