Securities
Feb. 7, 2025
Marqeta shareholders sue executives, claim mismanagement
Marqeta Inc. shareholders filed a lawsuit against CEO Simon Khalaf and other executives, claiming "gross mismanagement" caused a 42.5% stock drop after undisclosed regulatory risks surfaced in Q3 earnings.
Shareholders for Marqeta Inc., a global card issuing platform whose customers include Uber and DoorDash, sued the CEO Simon Khalaf and 10 other executives this week over claims of "gross mismanagement and abuse of control" leading to a 42.5% drop in stock price.
The derivative shareholder complaint, filed Tuesday in federal court in San Francisco, centers on the company's alleged failure to disclose upcoming regulations on the small banking industry prior to its Q3 e...
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