KIND - KIND Class Action Alert: Robbins LLP Reminds Investors of the Lead Plaintiff Deadline in the Class Action Against Nextdoor Holdings Inc. (KIND) | Benzinga

SAN DIEGO, March 11, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all those who purchased or otherwise acquired Nextdoor Holdings, Inc. (NYSE:KIND) Class A common stock between July 6, 2021 and November 8, 2022. Self-proclaimed as the "neighborhood network," Nextdoor operates a hyperlocal online social networking platform that connects neighbors, public agencies, and businesses via the internet.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations: Nextdoor Holdings, Inc. (KIND) Allegedly Made False and Misleading Statements

According to the complaint, on July 6, 2021, amid seemingly favorable market trends, Nextdoor Private announced that it would become a publicly traded company through a merger with the special purpose acquisition company KV Acquisition Co. The merger was completed on November 5, 2021.

Plaintiff alleges that during the class period, defendants failed to disclose that: (a) 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; (b) rather than being sustained, such growth trends had already begun reversing at the start of the class period; (c) Nextdoor's total addressable market was materially smaller than the 312 million households represented to investors; ...

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