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EXFY.US
id: 888

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
29 Jan 2024
Lead Plaintiff motion deadline
  • 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.
Case Status
Lead Plaintiff Appointed
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…