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IBTA

Ibotta, Inc.

Deadline

June 16 2025

Class Period

This lawsuit is on behalf of persons or entities who purchased or otherwise acquired publicly traded Ibotta securities pursuant and/or traceable to documents issued in connection with Ibotta’s April 18, 2024 initial public offering.

Allegations

According to the filed complaint, defendants made false statements and/or concealed that they did not properly warn investors of the risks concerning Ibotta’s contract with The Kroger Co. (“Kroger”). Kroger’s contract was at-will, and Ibotta failed to warn investors that a large client could cancel their contract with Ibotta without warning. Despite providing a detailed explanation of the terms of Ibotta’s contract with Walmart, there was not a single warning of the at-will nature of Kroger’s contract. Rather than disclosing the very real risk of a major client walking away at any time, Ibotta provided boilerplate warnings concerning the importance of maintaining ongoing relationships with their clients.

Class Period

Deadline

June 16 2025

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ZBIO

Zenas BioPharma, Inc.

Deadline

June 16 2025

Class Period

This lawsuit is on behalf of persons who purchased or otherwise acquired Zenas BioPharma securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with Zenas BioPharma’s September 2024 initial public offering.

Allegations

(1) Zenas BioPharma materially overstated the amount of time that it would be able to fund its operations using existing cash and expected net proceeds from the IPO; and (2) as a result, defendants’ public statements were materially false and misleading at all relevant times and negligently prepared.

Class Period

Deadline

June 16 2025

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NPWR

NET Power, Inc.

Deadline

June 17 2025

Class Period

6/9/23 - 3/7/25

Allegations

(i) Net Power was unlikely to complete its first utility-scale plant, Project Permian, on schedule and the project was likely to be significantly more expensive than defendants had represented, because of, inter alia, supply chain issues and numerous site- and region-specific challenges; (ii) accordingly, defendants’ projections regarding the time and capital needed to complete Project Permian were unrealistic; (iii) the increased time and capital needed to complete Project Permian were likely to have a significant negative impact on the Company’s business and financial results; and (iv) as a result, defendants’ public statements were materially false and misleading at all relevant times.

Class Period

6/9/23 - 3/7/25

Deadline

June 17 2025

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NSSC

Napco Security Technologies, Inc.

Deadline

June 24 2025

Class Period

2/5/24 - 2/3/25

Allegations

According to the complaint, defendants provided investors with material information concerning Napco’s overall expected growth and strength in the Company’s hardware division. Defendants’ statements included, among other things, confidence in Napco’s ability to achieve its fiscal 2026 growth projections on back of its ability to both appropriately forecast and execute upon the alleged demand for its hardware products. On February 3, 2025, Napco announced its financial results for the second quarter of fiscal 2025, revealing a significant reduction in hardware sales for the quarter. The Company attributed the decline “primarily … to reduced sales from 2 of the company’s larger distributors.” As a result of the setback in sales, defendants additionally pulled back their long-term 45% EBITDA margin target, as they “don’t know” if the target can be achieved by the end of fiscal 2026. Following this news, Napco’s common stock declined dramatically. From a closing market price of $36.70 per share on January 31, 2024, Napco’s stock price fell to $26.93 per share on February 3, 2025, a decline of about 26.62% in the span of just a single day.

Class Period

2/5/24 - 2/3/25

Deadline

June 24 2025

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CAR

Avis Budget Group, Inc.

Deadline

June 24 2025

Class Period

2/16/24 - 2/10/25

Allegations

(i) Avis Budget crafted and implemented a plan to significantly accelerate its fleet rotation in the fourth quarter of 2024; (ii) the foregoing acceleration shortened the useful life of the majority of the Company’s vehicles in the Americas segment, thereby reducing their recoverable value; (iii) as a result, Avis Budget would be forced to recognize billions of dollars in impairment charges and incur substantial losses; (iv) all the foregoing was likely to, and did, have a significant negative impact on the Company’s financial results; (v) accordingly, Avis Budget’s financial and/or business prospects were overstated; and (vi) as a result, defendants’ public statements were materially false and misleading at all relevant times.

Class Period

2/16/24 - 2/10/25

Deadline

June 24 2025

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LPRO

Open Lending Corporation

Deadline

June 30 2025

Class Period

2/24/22 - 3/31/25

Allegations

According to the filed complaint, defendants made false statements and/or concealed that they: (1) misrepresented the capabilities of the Company’s risk-based pricing models; (2) issued materially misleading statements regarding the Company’s profit share revenue; (3) failed to disclose the Company’s 2021 and 2022 vintage loans had become worth significantly less than their corresponding outstanding loan balances; and (4) misrepresented the underperformance of the Company’s 2023 and 2024 vintage loans. As a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Class Period

2/24/22 - 3/31/25

Deadline

June 30 2025

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CIVI

Civitas Resources, Inc.

Deadline

July 1 2025

Class Period

2/27/24 - 2/24/25

Allegations

(i) Civitas was highly likely to significantly reduce its oil production in 2025 as a result of, inter alia, declines following the production peak at the DJ Basin in the fourth quarter of 2024 and a low TIL count at the end of 2024; (ii) increasing its oil production would require the Company to acquire additional acreage and development locations, thereby incurring significant debt and causing the Company to sell corporate assets to offset its acquisition costs; (iii) the Company’s financial condition would require it to implement disruptive cost reduction measures including a significant workforce reduction; (iv) accordingly, Civitas’s business and/or financial prospects, as well as its operational capabilities, were overstated; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Class Period

2/27/24 - 2/24/25

Deadline

July 1 2025

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WST

West Pharmaceutical Services, Inc.

Deadline

July 7 2025

Class Period

2/16/23 - 2/12/25

Allegations

(a) despite claiming strong visibility into customer demand and attributing headwinds to temporary COVID-related product destocking, West was in fact experiencing significant and ongoing destocking across its high-margin HVP portfolio; (b) West’s SmartDose device, which was purportedly positioned as a high-margin growth product, was highly dilutive to the Company’s profit margins due to operational inefficiencies; (c) these margin pressures created the risk of costly restructuring activities, including the Company’s exit from continuous glucose monitoring contracts with longstanding customers; and (d) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading or lacked a reasonable basis.

Class Period

2/16/23 - 2/12/25

Deadline

July 7 2025

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DMRC

Digimarc Corporation

Deadline

July 7 2025

Class Period

5/3/24 - 2/26/25

Allegations

(1) a large commercial partner would not renew a large contract on the same terms; (2) as a result, Digimarc would renegotiate the large commercial contract; (3) based on this renegotiation, the Company’s subscription revenue and annual recurring revenue would be adversely affected; (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading or lacked a reasonable basis.

Class Period

5/3/24 - 2/26/25

Deadline

July 7 2025

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BITF

Bitfarms Ltd.

Deadline

July 8 2025

Class Period

3/21/23 - 12/9/24

Allegations

(i) Bitfarms maintained deficient internal controls over financial reporting; (ii) as a result, the Company incorrectly categorized proceeds derived from the sale of digital assets as a cash flow from operating activities rather than as a cash flow from investing activities; (iii) in addition, the Company overstated the extent to which it had remediated, and/or its ability to remediate, the material weakness in its internal controls over financial reporting related to its classification of the 2021 Warrants; (iv) the foregoing errors caused Bitfarms to misstate various items in several of the Company’s previously issued financial statements; (v) as a result, these financial statements were inaccurate and would likely need to be restated; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Class Period

3/21/23 - 12/9/24

Deadline

July 8 2025

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CODI

Compass Group Diversified Holdings, LLC

Deadline

July 8 2025

Class Period

5/1/24 - 5/7/25

Allegations

According to the complaint, throughout the class period, defendants failed to disclose to investors that Compass lacked effective internal controls over its financial reporting; that Compass failed to disclose critical information regarding Lugano Holding, Inc. (“Lugano”) which kept undisclosed financing arrangements and exhibited irregularities in its sales, cost of sales, inventory and accounts receivable; and that, as a result of the foregoing, defendants’ positive statements about the Company’s financial reporting were materially misleading. The truth emerged on May 7, 2025, after the market closed, the Company announced that its financial statements for fiscal 2024 could no longer be relied upon due to an ongoing internal investigation into its subsidiary, Lugano. Specifically, Compass reported that its Audit Committee launched an investigation over “concerns about how Lugano was potentially financing inventory.” The Company also announced that it intends to delay the filing of its first quarter 2025 Form 10-Q. Further, effective May 7, 2025, Lugano’s founder and CEO, Moti Ferder, resigned from Lugano and will not receive any severance compensation. Following this news, the price of Compass’ common stock declined dramatically. From a closing market price of $17.25 per share on May 7, 2025 to $6.55 per share on May 8, 2025.

Class Period

5/1/24 - 5/7/25

Deadline

July 8 2025

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RKT

Rocket Companies, Inc.

Deadline

July 8 2025

Class Period

3/29/21 - 4/1/21

Allegations

(a) Rocket’s gain on sale margins were contracting at the highest rate in two years as a result of increased competition among mortgage lenders, an unfavorable shift toward the lower margin Partner Network operating segment and compression in the price spread between the primary and secondary mortgage markets; (b) Rocket was engaged in a price war and battle for market share with its primary competitors in the wholesale market, which was further compressing margins in Rocket’s Partner Network operating segment; (c) the adverse trends identified above were accelerating and, as a result, Rocket’s gain on sale margins were on track to plummet at least 140 basis points in the first six months of 2021; (d) as a result of the above, the favorable market conditions that had preceded the Class Period and allowed Rocket to achieve historically high gain on sale margins had vanished as the Company’s gain on sale margins had returned to levels not seen since the first quarter of 2019; (e) rather than remaining elevated due to surging demand, Rocket’s Company-wide gain-on-sale margins had fallen materially below recent historical averages; and (f) as a result of the foregoing, defendants’ positive statements about the Company’s business operations and prospects were materially misleading and/or lacked a reasonable basis.

Class Period

3/29/21 - 4/1/21

Deadline

July 8 2025

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IOVA

Iovance Biotherapeutics, Inc.

Deadline

July 14 2025

Class Period

8/8/24 - 5/8/25

Allegations

According to the complaint, throughout the class period, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Iovance’s growth potential; notably, that it was not equipped to generate and drive demand or was otherwise ill equipped to capitalize upon the purported existing demand for its treatments through its network of approved treatment centers. On July 25, 2024, Iovance announced its financial results for the second quarter of fiscal 2024 and reduced its revenue guidance for the full fiscal year 2024. The Company attributed its results and lowered guidance on 1) “the iCTC completed annual scheduled maintenance in December” and “capacity was reduced by more than half for about 1 month,” 2) “[l]ower Proleukin sales” than the company expected, and 3) “the variable pace at which ATCs began treatment patients.” Following this news, the price of Iovance’s common stock declined dramatically. From a closing market price of $3.17 per share on May 8, 2025, Iovance’s stock price fell to $1.75 per share on May 9, 2025, a decline of about 44.795% in the span of just a single day.

Class Period

8/8/24 - 5/8/25

Deadline

July 14 2025

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MSTR

Strategy Incorporated

Deadline

July 15 2025

Class Period

4/30/24 - 4/4/25

Allegations

(i) the anticipated profitability of the Company’s bitcoin-focused investment strategy and treasury operations was overstated; (ii) the various risks associated with bitcoin’s volatility and the magnitude of losses Strategy could recognize on the value of its digital assets following its adoption of ASU 2023-08 were understated; and (iii) as a result, defendants’ public statements were materially false and misleading at all relevant times.

Class Period

4/30/24 - 4/4/25

Deadline

July 15 2025

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DNUT

Krispy Kreme, Inc.

Deadline

July 15 2025

Class Period

2/25/25 - 5/7/25

Allegations

(1) demand for Krispy Kreme products declined materially at McDonald’s locations after the initial marketing launch; (2) demand at McDonald’s locations was a driver of declining average sales per door per week; (3) the partnership with McDonald’s was not profitable; (4) the foregoing posed a substantial risk to maintaining the partnership with McDonald’s; (5) as a result, the Company would pause expansion into new McDonald’s locations; and (6) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Class Period

2/25/25 - 5/7/25

Deadline

July 15 2025

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DV

DoubleVerify Holdings, Inc.

Deadline

July 21 2025

Class Period

11/10/23 - 2/27/25

Allegations

(a) DoubleVerify’s customers were shifting their ad spending from open exchanges to closed platforms, where the Company’s technological capabilities were limited and competed directly with native tools provided by platforms like Meta Platforms and Amazon; (b) DoubleVerify’s ability to monetize on its Activation Services was limited because the development of its technology for closed platforms was significantly more expensive and time-consuming than disclosed to investors; (c) DoubleVerify’s Activation Services in connection with certain closed platforms would take several years to monetize; (d) DoubleVerify’s competitors were better positioned to incorporate AI into their offerings on closed platforms, which impaired DoubleVerify’s ability to compete effectively and adversely impacted the Company’s profits; (e) DoubleVerify systematically overbilled its customers for ad impressions served to declared bots operating out of known data center server farms; (f) DoubleVerify’s risk disclosures were materially false and misleading because they characterized adverse facts that had already materialized as mere possibilities; and (g) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading or lacked a reasonable basis.

Class Period

11/10/23 - 2/27/25

Deadline

July 21 2025

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RCAT

Red Cat Holdings, Inc.

Deadline

July 22 2025

Class Period

3/18/22 - 1/15/25

Allegations

(i) the Salt Lake City Facility’s production capacity, and defendants’ progress in developing the same, was overstated; (ii) the overall value of the U.S. Army’s Short Range Reconnaissance Program of Record Tranche 2 contract was overstated; and (iii) as a result, defendants’ public statements were materially false and misleading at all relevant times.

Class Period

3/18/22 - 1/15/25

Deadline

July 22 2025

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OGN

Organon & Co.

Deadline

July 22 2025

Class Period

10/31/24 - 4/30/25

Allegations

Class Period

10/31/24 - 4/30/25

Deadline

July 22 2025

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URGN

UroGen Pharma Ltd.

Deadline

July 28 2025

Class Period

7/27/23 - 5/15/25

Allegations

(1) the ENVISION clinical study was not designed to demonstrate substantial evidence of effectiveness of the Company’s lead pipeline product, UGN-102, because it lacked a concurrent control arm; (2) as a result, the Company would have difficulty demonstrating that the duration of response endpoint was attributable to UGN-102; (3) UroGen failed to heed the FDA’s warnings about the study design used to support a drug application for UGN-102; (4) as a result of the foregoing, there was a substantial risk that the NDA for UGN-102 would not be approved; and (5) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Class Period

7/27/23 - 5/15/25

Deadline

July 28 2025

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FTRE

Fortrea Holdings Inc.

Deadline

August 1 2025

Class Period

7/3/23 - 2/28/25

Allegations

(i) Fortrea overestimated the amount of revenue the long-term projects in its portfolio, the Pre-Spin Projects, were likely to contribute to the Company’s 2025 earnings; (ii) Fortrea overstated the cost savings it would likely achieve by exiting the transition services agreements; (iii) as a result, the Company’s previously announced EBITDA targets for 2025 were inflated; (iv) accordingly, the viability of the Company’s post-spin-off business model, as well as its business and/or financial prospects, were overstated; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Class Period

7/3/23 - 2/28/25

Deadline

August 1 2025

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RBGLY

Reckitt Benckiser Group plc

Deadline

August 4 2025

Class Period

1/13/21 - 7/28/24

Allegations

(1) preterm infants were at an increased risk of developing NEC by consuming Reckitt’s cow’s milk-based formula, Enfamil; (2) of the attendant impact on Reckitt’s sales of Enfamil and Reckitt’s exposure to legal claims; and (3) as a result of the above, defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Class Period

1/13/21 - 7/28/24

Deadline

August 4 2025

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PEPG

PepGen Inc.

Deadline

August 8 2025

Class Period

3/7/24 - 3/3/25

Allegations

(i) the Company’s lead product candidate, PGN-EDO51, was less effective and safe than defendants had led investors to believe; (ii) phase two, CONNECT2 study was dangerous or otherwise deficient for purposes of U.S. Food and Drug Administration (“FDA”) approval; (iii) as a result of all the foregoing, PepGen was likely to halt the CONNECT2 study, and PGN-EDO51’s clinical, regulatory, and commercial prospects were overstated; and (iv) as a result, defendants’ public statements were materially false and misleading at all relevant times.

Class Period

3/7/24 - 3/3/25

Deadline

August 8 2025

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VSTS

Vestis Corporation

Deadline

August 8 2025

Class Period

5/2/24 - 5/6/25

Allegations

According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Vestis’ ability to grow its business; notably that Vestis would be unable to execute on planned strategic initiatives to drive purported improvements to the customer experience and its onboarding efforts in order to drive new customer growth, increased customer retention, and increased revenue from existing customers. On May 7, 2025, Vestis announced its financial results for the second quarter of fiscal 2025, withdrew its revenue and growth guidance for the full fiscal year 2025, and provided guidance for the third quarter of fiscal 2025 that fell significantly below market expectations. The Company attributed its poor results partially to “lost business in excess of new business,” but primarily on “lower adds over stops, which is how we describe volume changes with our existing customers.” The Company attributed its decision to pull full-year guidance and provide disappointing third quarter targets to the “increasingly uncertain macro environment.” Following this news, the price of Vestis’ common stock declined dramatically. From a closing market price of $8.71 per share on May 6, 2025, Vestis’ stock price fell to $5.44 per share on May 7, 2025, a decline of about 37.54% in the span of just a single day.

Class Period

5/2/24 - 5/6/25

Deadline

August 8 2025

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RCKT

Rocket Pharmaceuticals, Inc.

Deadline

August 11 2025

Class Period

2/27/25 - 5/26/25

Allegations

According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of RP-A501’s safety and clinical trial protocol; notably, that Rocket knew Serious Adverse Events (SAEs), including death of participants enrolled in the study, were a risk. In particular, Rocket amended the trial’s protocol to introduce a novel immunomodulatory agent to the pretreatment regimen without providing this critical update to shareholders. Such statements absent these material facts caused Plaintiff and other shareholders to purchase Rocket’s securities at artificially inflated prices. On May 27, 2025, Rocket announced that the FDA placed a clinical hold on the RP-A501 Phase 2 pivotal study after at least one patient suffered a Serious Adverse Event (SAE), ultimately, death, while enrolled in the study following a substantive amendment to the protocol that the Company failed to disclose to investors at the time management made the revision. In fact, Rocket stated that, while the patient was dosed in May, the decision to amend the protocol was made “several months” earlier. Despite this, Rocket made no attempt to alert investors or the public to the change until after the SAE occurred. Following this news, the price of Rocket’s common stock declined dramatically. From a closing market price of $6.27 per share on May 23, 2025, Rocket’s stock price fell to $2.33 per share on May 27, 2025, a decline of about 37% in the span of just a single trading day.

Class Period

2/27/25 - 5/26/25

Deadline

August 11 2025

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Upcoming Deadlines

IBTA

Ibotta, Inc.

ZBIO

Zenas BioPharma, Inc.

NPWR

NET Power, Inc.

NSSC

Napco Security Technologies, Inc.

CAR

Avis Budget Group, Inc.

LPRO

Open Lending Corporation

CIVI

Civitas Resources, Inc.

WST

West Pharmaceutical Services, Inc.

DMRC

Digimarc Corporation

BITF

Bitfarms Ltd.

CODI

Compass Group Diversified Holdings, LLC

RKT

Rocket Companies, Inc.

IOVA

Iovance Biotherapeutics, Inc.

MSTR

Strategy Incorporated

DNUT

Krispy Kreme, Inc.

DV

DoubleVerify Holdings, Inc.

RCAT

Red Cat Holdings, Inc.

OGN

Organon & Co.

URGN

UroGen Pharma Ltd.

FTRE

Fortrea Holdings Inc.

RBGLY

Reckitt Benckiser Group plc

PEPG

PepGen Inc.

VSTS

Vestis Corporation

RCKT

Rocket Pharmaceuticals, Inc.

News

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