Nextdoor Holdings, Inc. (NYSE: KIND)

This lawsuit is for anyone who acquired securities in Nextdoor Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II (NYSE: KIND) securities from July 6, 2021 through November 8, 2022.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by knowing but failing to timely disclose to investors that the Company’s pre-IPO growth was the result of the pandemic and therefore not maintainable.

On March 1, 2022, Nextdoor released its fourth quarter and full year 2021 financial results, reporting an 18% decline in revenue growth and a 26% decline in average revenue per weekly active user (“ARPU”) growth. On this news, Nextdoor’s stock price fell $0.85, or 13.6%, to close at $5.39 per share on March 4, 2022, thereby injuring investors. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then on November 8, 2022, Nextdoor disclosed that revenues during the third quarter of 2022 declined sequentially by $1 million and that the Company’s quarterly ARPU growth contracted by 12% compared to the prior year quarter. On this news, Nextdoor’s stock price fell approximately 11% to close at $2.06 per share on November 9, 2022, thereby injuring investors further. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Nextdoor Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II (NYSE: KIND) securities from July 6, 2021 through November 8, 2022 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.