NEW YORK, May 23, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of RE: (“Remitly” or the “Company”) (NASDAQ: RELY). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Remitly and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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In September 2021, Remitly conducted its initial public offering (“IPO”), selling 12.16 million shares of common stock priced at $43.00 per share. Then, on May 1, 2024, Remitly issued a press release announcing its financial results for the first quarter of 2024. Among other items, Remitly reported revenue of $269.1 million for the quarter, missing consensus estimates by $4.78 million.
On this news, Remitly’s stock price fell $2.14 per share, or 12.2%, to close at $15.40 per share on May 2, 2024.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, London, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
