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id: 888, Created by Polina Foster, Scout
Expensify (EXFY) IPO Challenges Case
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11 Nov 2021Class period Start
30 Nov 2023Class period End
- Expensify's IPO documents supposedly gave a false picture of its growth and vulnerability to economic challenges.
- Subsequent events, like a Morgan Stanley downgrade and missed financial estimates, caused $EXFY drops.
It is claimed that the documents related to Expensify's IPO were negligently prepared and $EXFY overstated its revenue growth and downplayed risks.
After that, there were negative events, like a downgrade in June 2023 and disappointing financial results in August and November 2023, also causing $EXFY drop.
Investors have filed a complaint, suspecting that the Expensify's actions and the alleged misleading information have caused significant financial losses.
Shock Event Date
08 November 2023
29 November 2023
Lead Plaintiff Deadline
29 January 2024
Jolie A Russo