NEW YORK, Nov. 09, 2026 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating Dave, Inc. (NASDAQ: DAVE) (“Dave” or the “Company”) for potential violations of the federal securities laws.
On November 4, 2026, Dave filed its Quarterly Report on Form 10-Q with the SEC, disclosing that it had received inquiries and subpoenas from regulators and state Attorneys General in Connecticut, Maryland, and New York. These include licensing inquiries from the Connecticut and Maryland banking regulators, a subpoena from the Maryland Attorney General “requesting information regarding any earned wage access and related products that we offer in the state of Maryland,” and subpoenas from the New York State Department of Financial Services and the New York Attorney General concerning Dave’s marketing, advertising practices, fees, terms and conditions, and consumer communications. The Company warned that “the defense or resolution of these matters could involve significant monetary costs or penalties and have a significant impact on our financial results and operations.” The investigation concerns whether Dave and its officers and/or directors made false and/or misleading statements and/or failed to disclose the regulatory risks associated with its earned wage access products, fees, and marketing practices, and whether the Company had a reasonable basis for its positive statements about its business, regulatory compliance, and prospects.
Following this news, the price of Dave stock fell $60.88 per share, or approximately 18.1%, from a close of $336.22 per share on November 4, 2026 to close at $275.34 per share on November 5, 2026, causing losses to shareholders.
“Our investigation concerns whether the company and its executives provided investors with accurate and complete information about the company,” said attorney Andrea Farah, Lowey Dannenberg, P.C. partner and head of the firm’s securities practice.
If you suffered a loss in Dave securities, and wish to participate, or learn more about your eligibility, contact our attorneys Andrea Farah (afarah@lowey.com) at (914) 733-7256 or Vincent R. Cappucci Jr. (vcappucci@lowey.com) at (914) 733-7278.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
Contact
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7256
Email: investigations@lowey.com
SOURCE: Lowey Dannenberg
