KIND - KIND Litigation Report: Levi & Korsinsky LLP Provides Investors Further Information on Lawsuit Against Nextdoor Holdings Inc. | Benzinga
NEW YORK, April 03, 2024 (GLOBE NEWSWIRE) -- The following Litigation Report is being issued by Levi & Korsinsky, LLP:
Nextdoor Holdings, Inc. Litigation Report
Case Introduction
Adamo v. Nextdoor Holdings, Inc., et al 4:24-cv-01213-KAW
On February 28, 2024, investors sued Nextdoor Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II ("Nextdoor" or the "Company") in United States District Court, Northern District of California.
Plaintiffs in the federal securities class action allege that they acquired Nextdoor stock at artificially inflated prices between July 6, 2021 and November 8, 2022 (the "Class Period"). They are now seeking compensation for financial losses incurred upon public revelation of the Company's alleged misconduct during that time. To learn whether you may be eligible for a recovery under this class action, go to https://zlk.com/pslra-1/nextdoor-holdings-inc-f-k-a-khosla-ventures-acquisition-co-ii-lawsuit-submission-form?wire=32
Summary of the Allegations
Company Background
Nextdoor (NYSE:KIND) Nextdoor engages in the operation of a "hyperlocal online social networking platform.
According to the Company, its platform connects neighbors, public agencies, and businesses through the internet. Nextdoor supposedly facilitate this online community through different features such as a news feed where "neighbors," or users, can see posts, and engage in discussions. They can also see pictures posted by other neighbors, along with notifications, comments, and groups. In summary, the platform allows users to share information, goods and services.
By the end of last year, the Company says, its platform was available in 11 countries and had more than 41 million weekly active users. Nextdoor also says its platform was in use ...