NEW YORK, Sept. 20, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against LPL Financial Holdings Inc. ( LPLA), Bumble Inc. (BMBL, Financial), Cardlytics, Inc. ( CDLX), and European Wax Center, Inc. (EWCZ, Financial). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
LPL Financial Holdings Inc. ( LPLA)
On July 5, 2024, a federal judge granted Ameriprise Financial, Inc.’s (“Ameriprise’s”) request for a temporary restraining order against LPL after two former Ameriprise brokers joined LPL and allegedly used confidential client information to improperly solicit their former clients to switch firms.
On this news, the price of LPL Financial shares declined by $3.49 per share, from $276.01 per share on July 5, 2024 to close at $272.52 on July 8, 2024.
For more information on the LPL Financial investigation go to: https://bespc.com/cases/LPLA
Bumble announced on August 7, 2024, its second-quarter results and adjusted guidance for the full year, significantly lowering its revenue growth expectations. The company now anticipates a year-over-year total revenue growth of 1% to 2% for 2024, a sharp decline from the previous forecast of 8% to 11% issued in May.
Following this news, Bumble stock dropped over 40% during pre-market trading on August 8, 2024.
For more information on the Bumble investigation go to: https://bespc.com/cases/BMBL
Cardlytics, Inc. (CDLX, Financial)
On August 7, 2024, Cardlytics announced its second quarter 2024 financial results, revealing a 9% year-over-year decrease in revenue to $69.6 million, alongside a 3% decline in adjusted contribution to $36.4 million. The Company also disclosed that Karim Temsamani stepped down as Chief Executive Officer and from the Board of Directors.
On this news, Cardlytics' stock price fell $3.94 per share, or 57.10%, to close at $2.96 per share on August 8, 2024.
For more information on the Cardlytics investigation go to: https://bespc.com/cases/CDLX
European Wax Center, Inc. (EWCZ, Financial)
On August 14, 2024, European Wax issued a press release reporting its financial results for the second quarter of its fiscal year. Among other items, European Wax lowered its 2024 revenue forecast to a range of $216 million to $221 million, compared to prior guidance of $225 million to $232 million, and lowered its net income forecast to a range of $19 million to $22 million, compared to prior guidance of $22 million to $25 million.
On this news, European Wax's stock price fell sharply during intraday trading on August 14, 2024.
For more information on the European Wax investigation go to: https://bespc.com/cases/EWCZ
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
[email protected]
www.bespc.com
