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RSKD LAWSUIT ALERT: Levi & Korsinsky Notifies Riskified Ltd. Investors of a Class Action Lawsuit and Upcoming Deadline

RSKD

New York, New York--(Newsfile Corp. - June 28, 2022) - Levi & Korsinsky, LLP notifies investors in Riskified Ltd. ("Riskified Ltd." or the "Company") (NYSE: RSKD) of a class action securities lawsuit.

The lawsuit on behalf of Riskified Ltd. investors has been commenced in the the United States District Court for the Southern District of New York. This lawsuit is on behalf of all persons or entities who purchased Riskified Class A ordinary shares in or traceable to the Company's July 2021 initial public offering. Follow the link below to get more information and be contacted by a member of our team:

https://www.zlk.com/pslra-1/riskified-ltd-loss-submission-form?prid=29312&wire=5

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500. There is no cost or obligation to you.

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https://www.youtube.com/watch?v=woy6DOaYZm4

Riskified Ltd. NEWS - RSKD NEWS

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) as Riskified expanded its user base, the quality of Riskified's machine learning platform had deteriorated (rather than improved as represented in documents issued in connection with the July 2021 initial public offering), because of, among other things, inaccuracies in the algorithms associated with onboarding new merchants and entering new geographies and industries; (ii) Riskified had expanded its customer base into industries with relatively high rates of fraud - including partnerships with cryptocurrency and remittance business - in which Riskified had limited experience and that this expansion has negatively impacted the effectiveness of Riskified's machine learning platform; (iii) as a result, Riskified was suffering from materially higher chargebacks and cost of revenue and depressed gross profits and gross profit margins during its third fiscal quarter of 2021; and (iv) thus, the representations in documents issued in connection with the July 2021 initial public offering regarding Riskified's historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of Riskified prior to and at the time of the July 2021 initial public offering, and were materially false and misleading, and lacked a factual basis.

WHAT THIS MEANS TO SHAREHOLDERS: If you suffered a loss in Riskified Ltd. during the relevant timeframe, you have until July 1, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. Discuss your rights with our legal team without cost or obligation.

PROTECT YOUR FINANCIAL INTERESTS: Complete this brief submission form https://www.zlk.com/pslra-1/riskified-ltd-loss-submission-form?prid=29312&wire=5 or call 212-363-7500 to discuss the case.

WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129359

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