(LYLT): Johnson Fistel, Globally-Recognized Law Firm, Investigates Loyalty Ventures
SAN DIEGO, June 8, 2022 (Globe Newswire)—Shareholder rights law firm Johnson Fistel, LLP (www.JohnsonFistel.com) is investigating whether Loyalty Ventures Inc. (Nasdaq: LYLT), any of its executive officers, or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors. The investigation focus on investors’ losses and whether they may be recovered under the federal securities laws.
What if I purchased Loyalty Ventures common stock? If you purchased Loyalty Ventures common stock and suffered significant losses on your investment, join our investigation now:
· Or for more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471
There is no cost or obligation to you.
What is Johnson Fistel investigating? On November 5, 2021, Loyalty Ventures became a publicly-traded company after its separation from Alliance Data Systems Corporation.
On June 8, 2022, the Company disclosed that its AIR MILES Reward Program segment and AIR MILES’ Sponsor, Sobeys were unable to align on extension terms; consequently, Sobeys provided notice of its intent to exit the program on a region-by-region basis, beginning with Atlantic Canada, between August and the first quarter of 2023. The Company stated, “Given the uncertainty related to the timing of the transition of Sobeys’ additional regions and the currency and program timing issues often associated with its BrandLoyalty business, Loyalty Ventures will re-evaluate its 2022 revenue and EBITDA guidance when there is more clarity, which management hopes to have by the time of its second-quarter earnings release”. Following this news, LYLT stock was trading down over 40% in early morning trading on June 8, 2022.
What if I have relevant nonpublic information? Individuals with nonpublic information regarding the company should consider whether to assist our investigation or take advantage of the SEC Whistleblower program. Under the SEC program, whistleblowers who provide original information may, under certain circumstances, receive rewards totaling up to thirty percent of any successful recovery made by the SEC. For more information, contact Jim Baker at (619) 814-4471 or jimb@johnsonfistel.com.
About Johnson Fistel, LLP. Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in securities class action and derivative lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, Lead Securities Analyst
Telephone: (619) 814-4471
Email: jimb@johnsonfistel.com