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EXFY.US

Expensify (EXFY) IPO Challenges Case

D. Oregon
Court
3:23-cv-01784
Case number
11 Nov 2021
Class period Start
30 Nov 2023
Class 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.
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
08 November 2023
Filing date
29 November 2023
Lead Plaintiff Deadline
29 January 2024
Judge
Jolie A Russo
Collecting participants…
Created by Polina Foster, Scout

Expensify Inc

Expensify, Inc. provides a cloud-based expense management software platform to individuals, small businesses, and corporations in the United States and internationally. The company's platform enabl...

    Ticker
    EXFY.US
    ISIN
    US30219Q1067
    CIK
    1476840
    Sector
    Technology
    Industry
    Software - Application
    Country
    USA
    Address
    401 SW 5th Avenue, Portland, OR, United States, 97204