NEW YORK, March 22, 2024 /PRNewswire/ — The Gross Law Firm issues the following notice to shareholders of Nextdoor Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II.
Shareholders who purchased shares of KIND during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to take part in any recovery.
CONTACT US HERE:
https://securitiesclasslaw.com/securities/nextdoor-holdings-inc-fka-khosla-ventures-acquisition-co-ii-loss-submission-form/?id=72097&from=4
CLASS PERIOD: July 6, 2021 to November 8, 2022
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) Nextdoor’s financial results prior to the November 2021 merger with Khosla Ventures Acquisition Co. II, had been temporarily inflated by the ephemeral effects of the COVID-19 pandemic, which had pulled forward demand for Nextdoor’s platform and cannibalized future advertising revenue growth; (b) rather than being sustained, such growth trends had already begun reversing at the start of the class period; (c) Nextdoor’s total addressable market was materially smaller than the 312 million households represented to investors; (d) by the start of the class period, Nextdoor’s most important market – the US market – was already substantially saturated, impairing the Company’s ability to
