Ryvyl Inc. (f/k/a Greenbox POS) (RVYL)
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Ryvyl Inc. (f/k/a Greenbox POS) (“Ryvyl” or the “Company”) (NASDAQ: RVYL) and certain of its officers, on behalf of all persons and entities that purchased or otherwise acquired Ryvyl securities: (1) pursuant to the registration statement and prospectus issued in connection with the Company’s January 29, 2021 initial public offering (“IPO”); or (ii) between January 29, 2021 and January 20, 2023, for violations of the Securities Act of 1933. Ryvyl is a crypto company focused on developing, marketing and selling blockchain-based payment solutions. Such investors are encouraged to join this case.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.
The Complaint alleges the Registration Statement was materially false and/or misleading because it misrepresented and failed to disclose the following adverse facts pertaining to the Company’s business, operations and prospects, which were known to Defendants or recklessly disregarded by them. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company downplayed its serious issues with its internal controls; (2) the Company’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, the Company 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, and the Registration Statement, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
A class action lawsuit has already been filed. You can review a copy of the Complaint and sign the certification form or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Ryvyl, you have until April 3, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.