Kaskela Law LLC is investigating Katapult Holdings, Inc. (“Katapult” or the “Company”) (NASDAQ: KPLT) on behalf of the Company’s long-term shareholders.
Katapult is an e-commerce focused financial technology company offering e-commerce point-of-sale (“POS”) lease-purchase options for nonprime US consumers. The current Company was formed in June 2021 via a business combination with SPAC entity FinServ Acquisition Corp. (NASDAQ: FSRV), with Katapult as the surviving, public entity.
On August 10, 2021, Katapult issued a press release announcing disappointing financial results for the second quarter of 2021, including a net loss of $8.1 million (as compared to $5.1 million in net income for the second quarter of 2020). The Company further disclosed that it “observed meaningful [negative] changes in both e-commerce retail sales forecasts and consumer spending behavior” and retracted its full year 2021 guidance, claiming it could not “accurately predict our consumer’s buying behaviors for the remainder of the year.” Following this news, shares of the Company’s stock fell $5.47, or over 56% in value, to close at $4.26 per share on August 10, 2021, on unusually heavy trading volume.
Current Katapult stockholders who purchased or acquired FSRV/KPLT shares prior to May 11, 2021 are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.) at (888) 715 – 1740, or by completing the information form on this page, for additional information about this investigation and their legal rights and options.