KVSB - KIND INVESTOR ALERT: Edelson Lechtzin LLP Urges Nextdoor Holdings Inc. (NYSE: KIND) f/k/a Khosla Ventures Acquisition Co. II (NASDAQ: KVSB) Shareholders to Consult Counsel About the Pending Securities Fraud Class Action | Benzinga

NEWTOWN, Pa., March 18, 2024 (GLOBE NEWSWIRE) -- The law firm of Edelson Lechtzin LLP is investigating securities fraud claims on behalf of Class A common stock purchasers of Nextdoor Holdings, Inc. (NYSE:KIND) f/k/a Khosla Ventures Acquisition Co. II (NASDAQ:KVSB) between July 6, 2021, and November 8, 2022, inclusive (the "Class Period").

Investors who purchased Nextdoor Class A common stock may move the U.S. District Court for the Northern District of California to appoint them as lead plaintiff, no later than April 29, 2024. Please contact Edelson Lechtzin LLP at 844-696-7492 to discuss your investment losses, or by e-mail at elechtzin@edelson-law.com. A copy of the class action complaint can be viewed HERE.

Background on Nextdoor Holdings, Inc.

Nextdoor Holdings is a San Francisco-based company that operates a hyperlocal social networking service for neighborhoods. It was launched in the United States in October 2011 and was available in 11 countries as of May 2023.

The Securities Fraud Claims

The Complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) Nextdoor's financial results before the November 2021 merger with Khosla Ventures Acquisition Co. II, had been temporarily inflated by the transient effects of the COVID-19 pandemic, which had pulled forward demand for Nextdoor's platform and cannibalized future advertising revenue growth; (ii) rather than being sustainable, such growth trends had already begun reversing at the start of the ...

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