Rosen Law Firm, a global investor rights law firm, announces that it is investigating potential securities claims on behalf of shareholders of Expensify, Inc. (NASDAQ: EXFY) resulting from allegations that Expensify may have issued materially misleading business information to the investing public.
If you purchased Expensify securities and would like to join the prospective action, please click “Join This Class Action.”
On or around November 11, 2021, Expensify conducted its initial public offering (“IPO”), selling 2.6 million shares priced at $27.00 per share. Then, on June 12, 2023, Morgan Stanley downgraded Expensify to Underweight from Equal-weight, citing structural headwinds and the Company’s risk-reward profile.
On this news, Expensify’s stock price fell $0.45 per share, or 6.28%, to close at $6.72 per share on June 12, 2023.
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