The law firm of Kirby McInerney LLP reminds investors that the firm is investigating potential claims against Dave, Inc. (“Dave” or the “Company”) (NASDAQ: DAVE). The firm’s ongoing investigation concerns whether Dave and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.

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On December 30, 2024, the United States Department of Justice, together with the Federal Trade Commission (“FTC”), announced a civil enforcement action against Dave Inc. and its co-founder, President, Chief Executive Officer and Chairman of the Board of Directors, Jason Wilk, for alleged violations to the FTC Act and the Restore Online Shoppers’ Confidence Act (ROSCA). The government’s lawsuit alleges that the defendants misled consumers by deceptively advertising Dave’s cash advances, charging hidden fees, misrepresenting how Dave use customers’ tips, and charging recurring monthly fees without providing a simple mechanism to cancel them. On this news, the price of Dave shares declined by $7.54, from $94.46 per share on December 30, 2024, to close at $86.92 on December 31, 2024.

If you purchased or otherwise acquired Dave securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below to discuss your rights or interests with respect to these matters without any cost to you.

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Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.

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