Klarna Faces Post-IPO Securities Suit as Law Firms Rally Investors Before Feb. 20 Deadline

Overview

• A securities class action tied to Klarna’s September 2025 IPO has been filed, and multiple firms issued fresh notices urging investors to join and consider lead-plaintiff bids by February 20, 2026.
• Complaints allege the IPO registration statement understated the likelihood that Klarna’s loss reserves would rise soon after listing due to the risk profile of its buy now, pay later borrowers.
• The proposed class covers purchasers of Klarna securities from September 7, 2025 through December 22, 2025, including shares issued in the IPO.
• A November 18, 2025 report highlighted record revenue alongside higher credit-loss provisions, including $235 million set aside (0.72% of GMV), a $95 million net loss, and a 9.3% one-day share decline.
• Notices emphasize that no class has been certified and that, as of a filing referenced by one firm, Klarna shares traded at $31.31 versus the $40 IPO price.