MoneyLion Stockholders – Securities Investigation on Behalf of MoneyLion Investors – MoneyLion Shareholders With Losses Greater Than $25,000 Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating whether MoneyLion, Inc. (“MoneyLion” or the “Company”) (NYSE: ML) violated federal securities laws.
MONEYLION INVESTORS WHO HAVE SUFFERED FINANCIAL LOSSES GREATER THAN $25,000 ARE ENCOURAGED TO CLICK HERE TO ACCESS KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE TO PROVIDE DETAILS ABOUT THEIR MONEYLION SECURITIES.
On March 10, 2022, MoneyLion reported, among other things, that “. . . management has noted errors related to operating expenses, net loss and basic and diluted earnings (loss) per share in the condensed consolidated statements of operations for the three and nine months ended September 30, 2021 and additional paid-in capital and retained earnings in the condensed consolidated balance sheet as of September 30, 2021, along with related impacts to the condensed consolidated statement of cash flows for the nine months ended September 30, 2021 and the condensed consolidated statements of redeemable convertible preferred stock, redeemable noncontrolling interests and stockholders’ deficit for the three and nine months ended September 30, 2021.”
The Company also stated that “[r]elatedly, any press releases, earnings releases, investor presentations or other communications describing the Company’s Original Financial Statements for the Affected Period should no longer be relied upon.”
On this news, during intraday trading on March 10, 2022, MoneyLion’s stock price dropped significantly.