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The filed complaint alleges that Beyond, Inc. made materially false and/or misleading statements and/or failed to disclose that: After the market closed on May 6, 2024, Beyond announced the company's first quarter 2024 financial results and revealed first quarter total net revenue of $382 million, an increase of only 0.3% year-over-year, and a first quarter net loss of $74 million. Additionally, Beyond declined to reiterate its previously-issued goal to achieve $2 billion of revenue in 2024 and a $3 billion revenue run rate by the end of 2025. Following this news, Beyond's share price fell over 24% on May 7, 2024.
In order to be eligible to join the BYON class action lawsuit, you must have incurred a loss on shares of Beyond, Inc. purchased during the class period listed above.
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