NEW
YORK, March 5, 2024 /PRNewswire/ -- The Gross
Law Firm issues the following notice to shareholders of Nextdoor
Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II.
Shareholders who purchased shares of KIND during the class
period listed are encouraged to contact the firm regarding possible
lead plaintiff appointment. Appointment as lead plaintiff is not
required to partake in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/nextdoor-holdings-inc-f-k-a-khosla-ventures-acquisition-co-ii-loss-submission-form/?id=69074&from=4
CLASS PERIOD: July 6, 2021
to November 8, 2022
ALLEGATIONS: The complaint alleges that
during the class period, Defendants issued materially false and/or
misleading statements and/or failed to disclose that: (a)
Nextdoor's financial results prior to the November 2021 merger with Khosla Ventures
Acquisition Co. II, had been temporarily inflated by the ephemeral
effects of the COVID-19 pandemic, which had pulled forward demand
for Nextdoor's platform and cannibalized future advertising revenue
growth; (b) rather than being sustained, such growth trends had
already begun reversing at the start of the class period; (c)
Nextdoor's total addressable market was materially smaller than the
312 million households represented to investors; (d) by the start
of the class period, Nextdoor's most important market – the U.S.
market – was already substantially saturated, impairing the
Company's ability to monetize users and increase its average
revenue per weekly active user, or U.S. weekly active user metrics;
(e) as a result of (a)-(d) above, Nextdoor's revenue guidance for
fiscal year 2022 had no reasonable basis in fact and the Company
was tracking tens of millions of dollars below the revenue
trajectory provided to investors.
DEADLINE: April 29, 2024
Shareholders should not delay in registering for this class action.
Register your information here:
https://securitiesclasslaw.com/securities/nextdoor-holdings-inc-f-k-a-khosla-ventures-acquisition-co-ii-loss-submission-form/?id=69074&from=4
NEXT STEPS FOR SHAREHOLDERS: Once you register as a
shareholder who purchased shares of KIND during the timeframe
listed above, you will be enrolled in a portfolio monitoring
software to provide you with status updates throughout the
lifecycle of the case. The deadline to seek to be a lead plaintiff
is April 29, 2024. There is no cost
or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally
recognized class action law firm, and our mission is to protect the
rights of all investors who have suffered as a result of deceit,
fraud, and illegal business practices. The Gross Law
Firm is committed to ensuring that companies adhere to responsible
business practices and engage in good corporate citizenship. The
firm seeks recovery on behalf of investors who incurred losses when
false and/or misleading statements or the omission of material
information by a company lead to artificial inflation of the
company's stock. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (646) 453-8903
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SOURCE The Gross Law Firm