Nextdoor Holdings, Inc
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
Nextdoor, a hyperlocal online social networking platform, was formed through a merger on November 5, 2021, between Nextdoor, Inc. and the SPAC Khosla Ventures Acquisition Co. II, which then became Nextdoor Holdings, Inc. The class action lawsuit against Nextdoor alleges that during the Class Period, the company made false/misleading statements and failed to disclose: (i) its financial results had been temporarily boosted by the COVID-19 pandemic, leading to inflated demand and future revenue growth cannibalization; (ii) growth trends were already declining; (iii) its total addressable market was significantly less than claimed; and (iv) by the Class Period start, the U.S. market was nearly saturated, limiting user monetization and growth in average revenue per weekly active user. Subsequent earnings reports revealed declining revenue growth, ARPU, and U.S. weekly active users, leading to significant drops in Nextdoor’s stock price, ultimately harming investors.
