5 unchanged sentences
24-cv-08874 (N.D.
−Removed: Cal.), was filed in federal court in the Northern District of California (“Court”) against the Company, its Chief Executive Officer, and its Chief Financial Officer (“Defendants”) alleging violations of federal securities laws.
+Added: Cal.), was filed in federal court in the Northern District of California (“Court”) against the Company and certain of its current and former officers (“Defendants”) alleging violations of federal securities laws.
The lawsuit asserts that during the putative class period of between August 7, 2024 and November 4, 2024, Defendants made false or misleading statements relating to the Company’s performance or revenue and gross profit expectations in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
5 unchanged sentences
Both lawsuits (collectively, the “Securities Actions”) seek to recover damages on behalf of shareholders who acquired shares of the Company’s common stock during their respective putative class periods.
−Removed: Several individuals filed motions to consolidate the Securities Actions and for appointment as lead plaintiff, which are scheduled for a hearing on March 18, 2025.
−Removed: We expect that the Securities Actions will be consolidated and proceed as one lawsuit after the Court appoints a lead plaintiff for the putative class.
−Removed: On February 4, 2025, a putative shareholder derivative lawsuit, captioned Smith v.
+Added: The Securities Actions have been consolidated into one consolidated securities litigation captioned In re Marqeta, Inc.
+Added: Securities Litigation , Case No.
+Added: 24-08874-YGR (N.D.
+Added: Cal) and the Court has appointed a lead plaintiff and lead plaintiff’s counsel in the matter.
+Added: On April 10, 2025, the lead plaintiff filed a consolidated amended complaint, which alleges a putative class period of between February 28, 2024 and November 4, 2024.
+Added: We and the other Defendants filed a motion to dismiss the consolidated amended complaint on May 15, 2025.
+Added: On November 3, 2025, a settlement was reached, in principle, with the lead plaintiff’s counsel to resolve the Securities Actions for payments totaling $13.0 million, subject to further documentation and judicial approvals.
+Added: The Company’s Directors and Officers insurance policy includes a $5.0 million self-insured retention that applies to covered losses related to the Securities Actions, including legal defense fees and settlement payments.
+Added: If finalized, the settlement will be funded by insurance less the self-insured retention.
+Added: On February 4, 2025, a putative shareholder derivative lawsuit, capti oned Smith v.
Khalaf, et al.
25-cv-01174 (N.D.
−Removed: Cal.), was filed in the same Court against the Company’s Chief Executive Officer, its Chief Financial Officer, and its Board of Directors, and names the Company as a nominal defendant.
+Added: Cal.), was filed in the same Court against certain of the Company’s current and former officers and its Board of Directors (as then constituted), and named the Company as a nominal defendant.
This lawsuit asserts claims for breach of fiduciary duties and violations of federal securities laws, among other claims, between the time period of May 7, 2024 and November 4, 2024 under similar theories as the Securities Actions.
−Removed: Another substantially similar putative shareholder derivative lawsuit, captioned Ojserkis v.
+Added: Two other substantially similar putative shareholder derivative lawsuit, captioned Ojserkis v.
Khalaf, et al.
25-cv-01883 (N.D.
−Removed: Cal.), was filed on February 21, 2025.
+Added: Cal.) and Preciado v.
+Added: Khalaf, et al.
+Added: 3:25-cv-02100 (N.D.
+Added: Cal.) were filed on February 21, 2025 and February 27, 2025, respectively.
+Added: All three putative shareholder derivative suits have been consolidated into one lawsuit captioned In re Marqeta, Inc.
+Added: Derivative Litigation , Case No.
+Added: 4:25-cv-01174-YGR (N.D.
+Added: The consolidated derivative action is currently stayed pending developments in the consolidated Securities Actions.
Given the inherent uncertainty of litigation, the Company cannot reasonably estimate the likelihood of an unfavorable outcome or the amount or range of any potential loss.
−Removed: The Company and the other Defendants intend to file a motion to dismiss the Securities Actions after the Court-appointed lead plaintiff files a consolidated amended complaint or otherwise designates the operative complaint for the Securities Actions.
Not applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.