PHILADELPHIA, PA / ACCESSWIRE / December 27, 2021 / Kaskela Law LLC announces that it is investigating Katapult Holdings, Inc. ("Katapult" or the "Company") (NASDAQ:KPLT) on behalf of the Company's long term shareholders.
Katapult is an e-commerce focused financial technology company offering e-commerce point-of-sale ("POS") lease-purchase options for nonprime US consumers. The current Company was formed in June 2021 via a business combination with SPAC entity FinServ Acquisition Corp. (NASDAQ: FSRV), with Katapult as the surviving, public entity.
On August 10, 2021, Katapult issued a press release announcing disappointing financial results for the second quarter of 2021, including a net loss of $8.1 million (as compared to $5.1 million in net income for the second quarter of 2020). The Company further disclosed that it "observed meaningful [negative] changes in both e-commerce retail sales forecasts and consumer spending behavior" and retracted its full year 2021 guidance, claiming it could not "accurately predict our consumer's buying behaviors for the remainder of the year." Following this news, shares of the Company's stock fell $5.47, or over 56% in value, to close at $4.26 per share on August 10, 2021, on unusually heavy trading volume.
Current Katapult stockholders who purchased or acquired their FSRV/KPLT shares prior to May 11, 2021 are encouraged to contact Kaskela Law LLC (David Seamus Kaskela, Esq.) at (484) 258 - 1585, or by email ([email protected]) or online at
https://kaskelalaw.com/cases/katapult-holdings-inc/, for additional information about this investigation and their legal rights and options.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
CONTACT:
David Seamus Kaskela, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 258 - 1585
www.kaskelalaw.com
[email protected]
SOURCE: Kaskela Law LLC