The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Katapult Holdings, Inc. (NASDAQ: KPLT) who purchased shares between December 18, 2020 and August 10, 2021. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Katapult lawsuit alleges that (1) Katapult was experiencing declining e-commerce retail sales and consumer spending, (2) despite Katapult’s assertions that it was clear and compelling value proposition to both consumers and merchants, transforming the way nonprime consumers shop for essential goods and enabling merchant access to this underserved segment, Katapult lacked visibility into its consumers’ future buying behavior; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.
Shareholders have until October 26, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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