KSF notifies Wix investors of class action over AI product disclosures

Kahn Swick & Foti says investors in Wix.com Ltd. may seek lead plaintiff status in a federal securities class action tied to the company’s AI product disclosures.

Kahn Swick & Foti, LLC said in a PR Newswire notice that it is notifying investors in Wix.com Ltd. about a pending federal securities class action in the U.S. District Court for the Northern District of Illinois. The notice says the case covers people who purchased or otherwise acquired Wix securities between Feb. 19, 2025, and May 12, 2026.

The notice says the complaint alleges Wix and certain executives failed to disclose material information during that period and violated federal securities laws. It says the claims center on statements about Wix’s AI product offerings, including allegations that the company overstated their competitiveness and performance, understated the costs of developing and promoting them, and overstated their commercial and financial benefits.

According to the notice, investors who suffered losses during the class period have until Sept. 22, 2026, to ask the court to appoint them as lead plaintiff. It also says investors do not have to serve as lead plaintiff to share in any recovery if the case succeeds.

The case is captioned Yappi v. Wix.com Ltd., et al., No. 26-cv-08852, according to the notice. It identifies Wix as NasdaqGS: WIX and says the action is pending in federal court in Illinois.

The release attributes the notice to KSF and identifies KSF partner Charles C. Foti, Jr., as a former attorney general of Louisiana. It also provides contact details for Lewis Kahn, the firm’s managing partner, and a case information URL.

The notice says the next deadline is Sept. 22, 2026, for investors seeking appointment as lead plaintiff.

Sources

• PR Newswire release from Kahn Swick & Foti

Editorial note: This article was prepared with AI assistance and includes source attribution for reader review.