Marqeta Inc.

Allegations that Marqeta Inc. and two individual defendants misled investors about the company's program launch capabilities and regulatory compliance, leading to artificially inflated stock prices.

Marqeta Inc., Simon Khalaf and Michael Milotich have agreed to a $13 million settlement to resolve a securities class action lawsuit. The lawsuit alleged that defendants misled investors about Marqeta's ability to launch new programs and the strength of its regulatory compliance capabilities, which allegedly artificially inflated the stock price. The settlement includes individuals and entities who purchased or acquired Marqeta Inc. Class A common stock, call options, or wrote put options between Feb. 28, 2024, and Nov. 4, 2024, and suffered damages. The estimated average recovery is about $0.11 per eligible security after deductions for fees and expenses. The claim deadline is December 31, 2026.

• Persons and entities who purchased or otherwise acquired publicly traded Marqeta Inc. Class A common stock, purchased call options on that stock, or wrote put options on it...
• Joint owners must each sign the claim form.
• Agents, executors, administrators, guardians and trustees may submit claims on behalf of others and must provide proof of authority.
• Each separate legal entity must submit one claim covering all of its accounts.
• Participants in ERISA retirement plans should include only Marqeta securities bought outside the plan.