The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Ryvyl Inc. f/k/a GreenBox POS (NASDAQ: RVYL) who purchased securities: (1) pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s January 29, 2021 public offering; and/or (2) between January 29, 2021 and January 20, 2023. The action, which was filed in the United States District Court for the Southern District of California, alleges that the Company violated federal securities laws.
(1) Ryvyl downplayed serious issues with its internal controls; (2) Ryvyl’s financial statements for December 31, 2021 through and including interim periods ended September 30, June 30, and March 31, 2022 contained errors resulting in overstatements of revenue, assets, and stockholders’ equity and understatements of losses; (3) as a result, Ryvyl would need to restate its previously issued financial statements for those periods; and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders have until April 3, 2023 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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