SAN DIEGO, Feb. 22, 2023 (GLOBE NEWSWIRE) —

The class: Robbins LLP reminds investors that a shareholder has filed a class action lawsuit on behalf of individuals or entities holding Ryvyl Inc. RVYL f/n/a Greenbox POS: (1) pursuant to the registration statement and prospectus issued in connection with the Company’s initial public offering on January 29, 2021 (“IPO”); or (ii) between January 29, 2021 and January 20, 2023 for violating the Securities Act of 1933. Ryvyl is a crypto company focused on developing, marketing and selling blockchain-based payment solutions.

What now: Shareholders in a similar position may be eligible to participate in the class action lawsuit against Ryvyl. Shareholders who wish to be lead plaintiffs in the class action must file their filings by April 3, 2023. A Lead Plaintiff is a representative party acting on behalf of other Class Plaintiffs in the conduct of the litigation. You do not have to be present at the case to be eligible for a recovery. Click for more information Here.

All representations are on a contingency fee basis. Shareholders pay no fees or costs.

What is it about in this case: Ryvyl Inc. (RVYL) made false and misleading statements about its internal controls in connection with its IPO

According to the Complaint, the registration statement filed in connection with the IPO was substantially false and misleading because it failed to disclose that: (1) the company would restate certain financial information; (2) the company’s internal controls were inadequate; and (3) the company has downplayed and concealed its internal control issues.

On January 20, 2023, Ryvyl filed an 8-K with the SEC disclosing that its previously released annual financial statements ended December 31, 2021 for the year ended December 31, 2021 and for the interim periods ended December Year ended June 31, 2021 and from and for the interim periods ended September 30, June 30 and March 30, 2021 should no longer be used and have had to be adjusted. The company further explained…