NYSE, NASDAQ: KIND, KVSB

Nextdoor Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II

Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of Class A common stock of Nextdoor Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II (NYSE: KIND) (NASDAQ: KVSB) between July 6, 2021 and November 8, 2022, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 29, 2024.

If you purchased Nextdoor Class A common stock during the Class Period and would like to join the action, please click “Join This Class Action.”

Class Period:July 6, 2021 through November 8, 2022

Deadline:

12 Days
If you purchased Nextdoor Class A common stock during 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 made false and/or misleading statements and/or failed to disclose that:

  • Nextdoor’s financial results prior to the merger had been temporarily inflated by the ephemeral effects of the COVID-19 pandemic, which had pulled forward demand for Nextdoor’s platform and cannibalized future advertising revenue growth;
  • rather than being sustained, such growth trends had already begun reversing at the start of the Class Period;
  • Nextdoor’s total addressable market was materially smaller than the 312 million households represented to investors; and
  • by the start of the Class Period, Nextdoor’s most important market – the U.S. market – was already substantially saturated, impairing Nextdoor’s ability to monetize users and increase its average revenue per weekly active user (“ARPU”) or U.S. weekly active users (“WAUs”).

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: Nextdoor Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II
Stock Symbol: KIND
Class Period: July 6, 2021 through November 8, 2022
Court: United States District Court for the Northern District of California

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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.

Institutional Shareholders Services ranked the Rosen Law Firm # 1 for the number of securities class action recoveries in 2017.

The Rosen Law Firm represents investors throughout the globe. Our mission is to prosecute securities fraud class actions and protect shareholders’ rights.

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