NASDAQ: RVYL

RYVYL Inc.

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

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

If you purchased RYVYL securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

Details of investigation:

On January 20, 2023, after trading hours, RYVYL announced that its previous financial statements as of December 31, 2021 and going forward, as well as the related audit report of the Company’s previous independent registered public accounting firm “can no longer be relied upon” and that it anticipated filing restatements. RYVYL also announced that it “is expected that the restatement of the financial statements for the annual and interim periods referred to above will result in decreases to total revenue, increased net losses, decreases to total assets, and decreased total stockholder’s equity.”

RYVYL also disclosed that it had reassessed the effectiveness of its internal controls and “has determined that one or more material weaknesses exist in the Company’s internal control including a material weakness related to accounting for certain complex business transactions.”

On this news, RYVYL’s stock fell 14.4% to close at 70 cents per share on January 23, 2022, on unusually heavy trading volume.

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Company Name: RYVYL Inc.
Stock Symbol: RVYL
Class Period: N/A
Court: N/A

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