NEW YORK–(BUSINESS WIRE)–Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that a class action lawsuit has been filed against Alfi, Inc. (“Alfi” or the “Corporation “) (NASDAQ: ALF) in the United States District Court for the Southern District of Florida on behalf of all persons and entities who purchased or otherwise acquired Alfi securities between May 4, 2021 and November 15, 2021 , both dates inclusive (the “Class Period”). Investors have until January 31, 2022 to ask the court to be named lead plaintiff in the lawsuit.
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On October 28, 2021, Alfi disclosed in a filing with the United States Securities and Exchange Commission that “[o]n October 22, 2021, the Board of Directors (the “Board”) of Alfi, Inc. (the “Company”) placed each of Paul Pereira, President and Chief Executive Officer of the Company, Dennis McIntosh, Chief Financial Officer of the Company and Treasurer, and Charles Pereira, Chief Technology Officer of the Company, on paid administrative leave and has authorized an independent internal investigation regarding certain corporate transactions and other matters. On this news, Alfi’s share price fell sharply during intraday trading on October 29, 2021.
Finally, on November 16, 2021, Alfi filed a notice of its failure to timely file its Quarterly Report on Form 10-Q with the SEC for the quarter ended September 30, 2021 (the “3Q21 10-Q”). This filing cited, among other things, “recent changes in the [CEO] and [CFO] and in the chairman of the audit committee” of the board, as well as the need for “a new registered independent accounting firm”, as reasons for the company’s failure to timely file the 3Q21 10- Q.
Following these disclosures, the Company’s stock price fell $0.24 per share, or 5.21%, to close at $4.37 per share on November 16, 2021.
If you have purchased or otherwise acquired Alfi shares and suffered a loss, are a long-time shareholder, have information, want to know more about such claims, or have questions about this announcement or your rights or interests in these questions, please contact Brandon Walker or Alexandra Raymond by email at [email protected], by phone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation for you.
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation before state and federal courts across the country. For more company information, please visit www.bespc.com. Lawyer advertisement. Prior results do not guarantee similar results.