LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Ryvyl Inc. (“RYVYL” or “the Company”) (NASDAQ: RVYL) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. RYVYL announced on January 20, 2023, that its financial statements released since December 31, 2021, “can no longer be relied upon.” The Company admitted that it is “expected that the restatement of the financial statements for the annual and interim periods referred to above will result in decreases to total revenue, increased net losses, decreases to total assets, and decreased total stockholder’s equity.” Based on this news, shares of RYVYL fell by 14.4% on January 23, 2023.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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