Ryvyl Investigation Alert: Johnson Fistel, LLP Encourages Long-Term Investors to Reach Out for More Information
Recently, a class action lawsuit was filed against the company. The Ryvyl class action lawsuit alleges that the Offering’s Registration Statement and defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Ryvyl’s internal controls were inadequate; (ii) Ryvyl downplayed and obfuscated its internal control issues; (iii) 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 understatement of losses; and (iv) as a result, Ryvyl would need to restate its previously issued financial statements for those periods.
Johnson Fistel is currently undertaking an extensive investigation related to potential violations of shareholder rights involving certain companies that are facing securities class action lawsuits.
If warranted our firm is prepared to commence a derivative lawsuit on behalf of shareholders who have made a long-term investment in these companies. A derivative lawsuit is aimed at holding accountable the directors and officers, not the corporations themselves, for any potential violations.
What are derivative lawsuits and what can I do as a current long-term shareholder of Ryvyl? Click here for more information
If you are interested in pursuing this matter, please review and sign the engagement letter below or contact James Baker at jimb@johnsonfistel.com or (619) 814-4471.