NEW YORK, NY / ACCESSWIRE / August 10, 2023 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Expensify, Inc. ("Expensify" or "the Company") (NASDAQ:EXFY). Investors who purchased Expensify securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/exfy.
The investigation concerns whether Expensify has violated federal securities laws.
Investigation Details:
On November 10, 2021, Expensify conducted its initial public offering ("IPO") of 11,190,392 shares of common stock priced at $27.00 per share. Then, on August 8, 2023, Expensify issued a press release announcing its second quarter 2023 financial and operating results. Among other items, Expensify reported GAAP EPS of -$0.14, missing consensus estimate of -$0.07, and revenue of $38.9 million, which likewise missed the consensus estimate of $41.5 million. Expensify also withdrew its previously issued revenue growth guidance. Following Expensify's disclosures, JPM downgraded the Company to Market Perform from Market Outperform. On this news, Expensify's stock price fell $1.69 per share, or 28.55%, to close at $4.23 per share on August 9, 2023.
What's Next?
If you are aware of any facts relating to this investigation or purchasedExpensify securities, you can assist this investigation by visiting the firm's site: www.bgandg.com/exfy. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
Why Bronstein, Gewirtz & Grossman:
Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.
Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
332-239-2660 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC