ACCESSWIRE
26 Jan 2023, 12:43 GMT+10
NEW YORK, NY / ACCESSWIRE / January 25, 2023 / Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Ryvyl Inc. ('Ryvyl' or the 'Company') (NASDAQ:RVYL).
If you suffered losses exceeding $50,000 investing in Ryvyl stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/RVYL.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
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 14.63% to close at $0.70 per share on January 23, 2023, on unusually heavy trading volume.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
SOURCE: Faruqi & Faruqi, LLP
Get a daily dose of St Louis Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to St Louis Star.
More InformationCHEYENNE, Wyoming: A Wyoming bill outlawing the use or prescription of medication abortion pills, which was passed by the state's ...
DENVER, Colorado: The Southern Nevada Water Authority has voted to accept a $2.4 million grant from the US Bureau of ...
WASHINGTON D.C.: The US government has reported that the exceptionally wet winter in California this year will offer relief from ...
FRANKFURT, GERMANY: Authorities said that as part of a crackdown on gangs suspected of blowing up ATM machines and stealing ...
BERLIN, Germany: Germany will send a cabinet minister to visit Taiwan next week, at a time when Berlin is reviewing ...
ZURICH, Switzerland - Depositors will be fully protected, shareholders will have their equity dwarfed, while bond holders will be largely ...
NEW YORK, New York - Wall Street continued its advance on Tuesday as investors continued to weigh up the health ...
WASHINGTON D.C.: The US State Department has issued a travel warning regarding dangerous fake pills sold at pharmacies in Mexico, ...
FRANKFURT, Germany: The German Automobilwoche magazine has reported that as part of its efforts to switch to selling electric vehicles ...
NEW YORK, New York - U.S. stocks rallied on Monday following the weekend buy-in of Credit Suisse by UBS, which ...
WASHINGTON D.C.: The US Federal Reserve Bank has announced that cash-strapped banks throughout the US borrowed some $300 billion during ...
BEIJING, China: Following the inability of China Huarong Asset Management Co Ltd to release financial reporting obligations in 2020, China ...