NEW YORK–(BUSINESS WIRE)–#Action–Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Loyalty Ventures, Inc. (“Loyalty Ventures” or the “Company”) (NASDAQ: LYLT) on behalf of Loyalty Ventures stockholders. Our investigation concerns whether Loyalty Ventures has violated the federal securities laws and/or engaged in other unlawful business practices.
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Loyalty Ventures provides consumer loyalty solutions. The Company owns and operates the AIR MILES Reward Program, an end-to-end loyalty platform; and BrandLoyalty, a campaign-based loyalty solution for grocers and other high-frequency retailers.
On November 5, 2021, Loyalty Ventures became a publicly traded company after its separation from Alliance Data Systems Corporation.
On June 8, 2022, the Company disclosed that its AIR MILES Reward Program segment and AIR MILES’ Sponsor, Sobeys, were unable to align on extension terms; consequently, Sobeys provided notice of its intent to exit the program on a region-by-region basis, beginning with Atlantic Canada, between August and the first quarter of 2023. The Company stated, “Given the uncertainty related to the timing of the transition of Sobeys’ additional regions and the currency and program timing issues often associated with its BrandLoyalty business, Loyalty Ventures will re-evaluate its 2022 revenue and EBITDA guidance when there is more clarity, which management hopes to have by the time of its second quarter earnings release.”
On this news, the price of Loyalty Ventures shares declined by $5.01 per share, or approximately 45.4%, from $11.03 per share to close at $6.02 per share on June 8, 2022.
If you purchased or otherwise acquired Loyalty Ventures shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.