Loyalty Ventures Inc.

Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Loyalty Ventures Inc. (NASDAQ: LYLT) resulting from allegations that Loyalty Ventures may have issued materially misleading business information to the investing public.

If you purchased Loyalty Ventures securities and would like to join the prospective action, please click “Join This Class Action.”

Details of investigation:

On June 8, 2022, Loyalty Ventures Inc. issued a press release disclosing that its AIR MILES Reward Program segment and AIR MILES’ Sponsor, Sobeys were unable to align on extension terms; consequently, Sobeys provided notice of its intent to exit the program on a region-by-region basis, beginning with Atlantic Canada, between August and the first quarter of 2023. Management is confident in AIR MILES’ ability to convert this development into a growth opportunity over the medium-term.

On this news, Loyalty Ventures’s stock price fell by as much as $5.68 per share, or over 51%, on during intraday trading on June 8, 2022, on unusually heavy trading volume, damaging investors.

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Company Name: Loyalty Ventures Inc.
Stock Symbol: LYLT
Class Period: N/A
Court: N/A

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