The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Southern District of California on behalf of shareholders of Ryvyl Inc. f/k/a GreenBox POS 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.
(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.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until April 3, 2023 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
