ALERT Alfi, Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit - ALF; ALFIW
Robbins Geller Rudman & Dowd LLP announces that purchasers of: (a) Alfi, Inc. (NASDAQ: ALF; ALFIW) common stock or warrants pursuant and/or traceable to the offering documents issued in connection with Alfi’s initial public offering conducted on or about May 4, 2021 (the “IPO”); and/or (b) Alfi securities between May 4, 2021 and November 15, 2021, inclusive (the “Class Period”) have until January 31, 2022 to seek appointment as lead plaintiff in Steppacher v. Alfi, Inc., No. 21-cv-24232 (S.D. Fla.). Commenced on December 2, 2021, the Alfi class action lawsuit charges Alfi as well as certain of its executives and directors with violations of the Securities Act of 1933 and/or Securities Exchange Act of 1934.
If you wish to serve as lead plaintiff of the Alfi class action lawsuit, please provide your information by clicking here. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at firstname.lastname@example.org. Lead plaintiff motions for the Alfi class action lawsuit must be filed with the court no later than January 31, 2022.
CASE ALLEGATIONS: Alfi provides interactive artificial intelligence and machine learning software solutions. Pursuant to the IPO’s offering documents, Alfi sold approximately 3.7 million shares of common stock and approximately 3.7 million warrants to the public at the IPO price of $4.15 per both share and warrant for approximate proceeds to Alfi of $14 million after applicable underwriting discounts and commissions, and before expenses.
The Alfi class action lawsuit alleges that the offering documents and defendants throughout the Class Period made false and misleading statements and failed to disclose that: (i) Alfi maintained deficient disclosure controls and procedures and internal control over financial reporting; (ii) as a result, Alfi and its employees could and did engage in corporate transactions and other matters without sufficient and appropriate consultation with or approval by Alfi’s Board of Directors; (iii) the foregoing increased the risk of internal and regulatory investigations into Alfi and its employees; (iv) the foregoing, once revealed, was likely to have a material negative impact on Alfi’s reputation, financial condition, and ability to timely file periodic reports with the U.S. Securities and Exchange Commission (the “SEC”); and (v) as a result, Alfi’s public statements were materially false and misleading at all relevant times.