Mintz, Levin, Cohn, Ferris, Glovsky and Popeo firm member Sean T. Prosser and associate Cesar M. Dulanto have stepped in to represent blockchain-based payment company RYVYL Inc. and certain company executives in a pending securities class action. The complaint, filed Feb. 1 in California Southern District Court by the Rosen Law Firm, alleges that RYVYL misled shareholders about its financial performance and the efficacy of its internal controls in a prospectus document for its initial public offering and in other documents. The class action also targets Benchmark division EF Hutton and R.F. Lafferty & Co., which acted as underwriters for RYVYL’s IPO. The case, assigned to U.S. District Judge Gonzalo P. Curiel, is 3:23-cv-00185, Cullen v. Ryvyl Inc. et al.
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