Newman Ferrara LLP Announces Corporate Governance Investigation of WM Technology, Inc. – MAPS

August 19, 2024 05:22 PM Eastern Daylight Time

NEW YORK--(BUSINESS WIRE)--Newman Ferrara LLP announced today that the firm is conducting an investigation on behalf of shareholders of WM Technology, Inc. (“WM Technology” or the “Company”) (NASDAQ:MAPS) into potential breaches of fiduciary duty by the Company’s Board of Directors (the “Board”).

WM Technology, headquartered in Irvine, CA, is a technology and software infrastructure provider to the cannabis industry, comprised of the B2C platform Weedmaps, and B2B software WM Business. Newman Ferrara’s investigation focuses on decisions made by the Board, without shareholder approval, the result of which significantly diminish shareholder value and do not benefit the Company.

Considering the Company’s lackluster performance since its 2021 de-SPAC transaction, it is clear that the Board lacks the ability to fairly assess and oversee the Company’s direction and leadership.

Current WM Technology stockholders seeking more information on this matter are invited to contact Newman Ferrara attorneys Jeffrey Norton (jnorton@nfllp.com) or Benjamin Baker (bbaker@nfllp.com) to discuss this investigation and their rights.

Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.

Contacts
Newman Ferrara LLP
Benjamin Baker
bbaker@nfllp.com
1250 Broadway, 27th Fl.
New York, NY 10001
(212) 619-5400