NEW YORK, NY / ACCESSWIRE / January 3, 2025 / Levi & Korsinsky notifies investors that it has commenced an investigation of Dave Inc. ("Dave Inc.") (NASDAQ:DAVE) concerning possible violations of federal securities laws.
Morningstar reported on December 31, 2024, that Dave recently announced updates to its fee structure in response to issues raised in the FTC's lawsuit, which was amended by the DOJ earlier this week.
According to Morningstar, the FTC, initially filed a complaint in November 2024, accusing Dave of misleading marketing practices related to its cash advance services.
According to Morningstar, on December 30, 2024, the DOJ amended its complaint to include Dave's CEO, Jason Wilk, as a named defendant. The amended complaint alleges that Dave and its CEO engaged in deceptive practices by imposing hidden fees and using a misleading app interface that encouraged users to provide substantial tips without offering a transparent option to avoid tipping. The DOJ is seeking civil penalties in the case.
Following this news, shares of Dave Inc. stock fell over 10% during intraday trading on December 31, 2024. To obtain additional information, go to:
https://zlk.com/pslra-1/dave-inc-lawsuit-submission-form?prid=120526&wire=1
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212)363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The 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. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212)363-7500
Fax: (212)363-7171
https://zlk.com/
SOURCE: Levi & Korsinsky, LLP
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