Sign In
Step 1
Draft
Step 2
Unite with Fellow Investors
Step 3
Choose the Best Attorney
Step 4
Provide Documents
Step 5
Follow Case Progress
Step 6
Get Payout
RVYL.US
id: 566

Ryvyl ($RVYL) Investor Settlement

Late claims are being considered for compensation, subject to approval.
$300,000
Cash Settlement
S.D. California
Court
23-CV-00185
Case number
01/29/2021
Class period Start
04/20/2023
Class period End
12/27/2025
Claim deadline
Ryvyl ($RVYL) has reached a settlement with investors over claims that it engaged in accounting fraud and misrepresented financial statements.

Outline

In 2022, Ryvyl was accused of manipulating its financial statements, inflating revenue and assets while understating losses. Following these revelations, $RVYL fell 14.63%, and Ryvyl faced a lawsuit from investors.

Timeline
  • January 20, 2023 – Ryvyl announced accounting errors requiring financial restatements, admitting that prior financial statements could not be relied upon​.
  • January 23, 2023 – $RVYL fell 14.63%
  • March 8, 2023 – The company’s CFO resigned, raising concerns about Ryvyl’s financial integrity​.
  • April 28, 2023 – Investors filed a lawsuit, claiming Ryvyl misrepresented its financial condition​.
  • February 2025 – Ryvyl agreed to settle to resolve investor claims.
Background

In 2022, Ryvyl positioned itself as a leading fintech company, reporting strong revenue growth and increasing assets.

However, in January 2023, the company admitted accounting errors and disclosed that previous financial statements were unreliable. These corrections revealed inflated revenue, understated losses, and serious internal control weaknesses.

Further investigations by Ryvyl’s Audit Committee, independent auditors, and the SEC revealed significant financial misstatements.

Following this, $RVYL fell 14.63%. And, shortly after, in March 2023, the company’s CFO resigned, raising further concerns about Ryvyl’s financial integrity.

By April 2023, investors filed a lawsuit, alleging that Ryvyl misled them about its true financial position.

What Can Investors Expect Now?

Ryvyl has reached a settlement with $RVYL investors over claims that it engaged in accounting fraud and misrepresented financial statements.
If you were affected by this situation, you may be eligible to file for a payout and receive your share of the settlement. Check the FAQ section below for details on eligibility and claims.
Case Type
US Securities Class Action
Case Status
Accepting Late Claims
Alleged Offence
Mismanagement, 
Financial Misrepresentation, 
Fraud, 
Negligence, 
Breach of Fiduciary duty, 
Omissions
Suspected Party
Directors, 
Management, 
Service Provider
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.04
Filing date
02/01/2023
Plaintiffs
Scot S. Cook
Attorneys
The Rosen Law Firm, P.A. (Los Angeles, CA)
Defendants
Ben Errez, Fredi Nisan, J Drew Byelick, Benjamin Chung
Judge
Hon. Gonzalo P. Curiel
Court hearing date
12/19/2025
Exclusion deadline
11/28/2025
Objection deadline
11/28/2025
Trades matching type
FIFO

Frequently Asked Questions

Who is eligible for this settlement?
Do I have to sell securities to be eligible?
How long does the payout process take?
What is 11th Estate?

Trusted by industry leaders

Endorsed by top professionals who trust our innovative solutions to drive impactful results.