NEW YORK, Feb. 20, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Ryvyl Inc. (“Ryvyl” or the “Company”) RVYL. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether Ryvyl and certain of its officers and/or directors engaged in securities fraud or other illegal business practices.

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On January 20, 2023, after the market closed, Ryvyl announced that its previous year-end and interim financial statements for fiscal years 2021 and 2022 “are no longer reliable.” The company anticipated filing restatements that “resulted in a decrease in total sales, increased net losses, a decrease in total assets and [decrease] Total equity attributable to shareholders.” The company also disclosed that it had identified “one or more material weaknesses” in its internal control over financial reporting, including a “material weakness related to the accounting for certain complex business transactions.”

As a result of this news, Ryvyl’s stock price fell $0.12 per share, or 14.6%, to close at $0.70 per share on January 23, 2023.

The Pomerantz law firm, with offices in New York, Chicago, Los Angeles and Paris, is one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as Dean of the Class Attorney’s Association, the Pomerantz firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz law firm continues the tradition he established and fights for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomerantzlaw.com.

CONTACT:
Robert S Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980