Nextdoor Holdings, Inc.

Adamo v. Nextdoor Holdings, Inc. et al., (Case No. 24-cv-01213), N.D. Cal.

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The lawsuit alleges that Nextdoor’s financial results prior to its merger with a blank check company had been temporarily inflated by the effects of the COVID-19 pandemic, which pulled forward demand and cannibalized future advertising revenue growth. Additionally, Nextdoor’s total addressable market is alleged to have been materially smaller than the 312 million households represented to investors.

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