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Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against WM Technology, Inc. (“WM Technology” or the “Company”) and reminds investors of the December 16, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. The firm is encouraging investors who suffered losses exceeding $75,000 in WM Technology between May 25, 2021, and September 24, 2024, to contact Securities Litigation Partner James (Josh) Wilson directly to discuss their legal options.
The complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements regarding its monthly average user metrics (MAUs), which were found to be severely inflated. After the true details entered the market, investors suffered damages. The U.S. Securities and Exchange Commission charged WM Technology, its former CEO, and former CFO for making negligent misrepresentations in public reporting, leading to a stock drop of 1.9% on September 25, 2024.
The court-appointed lead plaintiff will be the investor with the largest financial interest in seeking relief for the class. Faruqi & Faruqi, LLP encourages anyone with information regarding WM Technology’s conduct to come forward, including whistleblowers, former employees, and shareholders. To learn more about the class action or discuss your particular case in a confidential manner, you can contact Faruqi & Faruqi partner Josh Wilson directly. More information can be found on the firm’s website.
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