RYVYL Inc. was unable to stop a class action suit from shareholders who claimed the blockchain payments company overstated revenue and other financial metrics, but it convinced a federal judge to limit the case.
Investor claims concerning alleged misstatements in RYVYL’s 2021 annual report released in 2022 and various 2022 reports have standing, Judge Gonzalo P. Curiel of the US District Court for the Southern District of California ruled Monday. But he dismissed shareholders’ misstatement claims related to RYVYL’s 2021 interim reports, as the company requested.
Shareholders said RYVYL and company officials misled them between 2021, when it ...
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