Alliance Data Systems Corporation n/k/a Bread Financial Holdings, Inc.

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of common stock of Loyalty Ventures Inc. (NASDAQ: LYLT) (OTC: LYLTQ) between November 8, 2021 and June 7, 2022, both dates inclusive (the “Class Period”). Loyalty Ventures was created as a result of a November 2021 spinoff from Alliance Data Systems Corporation n/k/a Bread Financial Holdings, Inc., the defendant company in this case. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 26, 2023.

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

Class Period:November 8, 2021 through June 7, 2022
If you purchased Loyalty Ventures common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of the case:

According to the lawsuit, defendants misled investors and/or failed to disclose that:

  • the Air Miles program suffered from a lack of investment prior to the spinoff;
  • as a result, Sobeys Inc., the second-largest supermarket chain in Canada and the second-largest sponsor in the Air Miles program, had informed defendants it was considering exercising its early termination rights;
  • the threat of Sobeys’ departure loomed throughout 2021 including in the timeframe leading up to the spinoff;
  • defendants expected the departure of any single large sponsor, such as Sobeys, would have “network effect” on the value of the entire Air Miles program;
  • the high leverage and debt service obligations foisted upon Loyalty Ventures, in conjunction with the “network effect” impact on the value of the Air Miles business, threatened the Company’s ability to continue operations; and
  • as a result, defendants’ positive statements about the Company’s financial guidance, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Attorney Advertising. Prior results do not guarantee a similar outcome.

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Company Name: Loyalty Ventures Inc.
Stock Symbol: LYLT, LYLTQ
Class Period: November 8, 2021 through June 7, 2022
Court: United States District Court Southern District of Ohio Eastern Division

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The Rosen Law Firm has been ranked among the top 4 law firms each year since 2013 for the number of successful securities class actions on behalf of investors. In 2019 alone, our firm recovered $438 million for investors.

Investors should carefully identify and select experienced counsel with a track record of success leading securities class actions. Often other firms issue press releases about class actions yet do not have comparable experience or resources.

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