NEW YORK, Feb. 29, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Nextdoor Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II ("Nextdoor" or the "Company") (NYSE:KIND) in the United States District Court for the Northern District of California on behalf of all persons and entities who purchased or otherwise acquired Nextdoor publicly traded Class A common stock between July 6, 2021 and November 8, 2022, both dates inclusive (the "Class Period"). Investors have until April 29, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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Nextdoor operates a hyperlocal online social networking platform that connects neighbors, public agencies, and businesses via the internet. Nextdoor was created through the November 5, 2021 merger of a privately held company called Nextdoor, Inc. and a publicly traded special purpose acquisition company (SPAC or blank-check company), then called Khosla Ventures Acquisition Co. II ("KV Acquisition Co."), with KV Acquisition Co. serving as the surviving entity and changing its name to Nextdoor Holdings, Inc. after the merger.
The Nextdoor class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Nextdoor's financial results prior to the merger had been temporarily inflated by the ephemeral effects ...