According to the Complaint, Rvyl Inc. (f/k/a GreenBox POS) is a crypto company focused on developing, marketing and selling blockchain-based payment solutions.

On January 29, 2021 the Company filed with the SEC a Registration Statement on Form S-1, which in combination with a February 10, 2021 amendment on Form S-1/A, declared effective on February 12, 2021, and filed pursuant to Rule 424(b)(4) are collectively referred to as the Registration Statement and issued in connection with the Company's initial public offering.

The Complaint alleges that the Registration Statement was false and/or misleading and/or failed to disclose that: (1) the Company would restate certain financials; (2) the Company’s internal controls were inadequate; (3) the Company downplayed and obfuscated its internal controls issues; and (4) as a result, the Registration Statement was materially false and/or misleading at all relevant times.

On May 9, 2023, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on June 30. Defendants filed a Motion to Dismiss the amended Complaint on August 14.

On March 1, 2024, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint. Lead Plaintiff filed a second amended Complaint on May 1, 2024. Defendants filed a Motion to Dismiss the second amended Complaint on July 1.

On October 21, 2024, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint.

Lead Plaintiff filed a third amended Complaint on November 12, 2024.