Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Super Micro Computer, Inc. (NASDAQ: SMCI) securities.
If you suffered a loss on your Super Micro investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Feb 02 2021 - Sep 25 2024
CASE DETAILS: The filed complaint alleges that Super Micro Computer, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) defendants recognized revenue prematurely and failed to implement adequate internal financial controls; (2) defendants failed to disclose the existence of multiple related party transactions; and (3) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Methode Electronics, Inc. (NYSE: MEI) securities.
If you suffered a loss on your Methode Electronics investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Dec 02 2021 - Mar 06 2024
CASE DETAILS: The filed complaint alleges that Methode Electronics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) during the COVID-19 pandemic, the Company had lost highly skilled and experienced employees necessary to successfully complete the Company’s transition from its historic low mix, high volume production model to a high mix, low production model at its Monterrey facility; (b) the Company’s attempts to replace its GM center console production with more diversified, specialized products for a wider array of vehicle manufacturers and original equipment manufacturers, particularly in the EV space, had been plagued by production planning deficiencies, inventory shortages, vendor and supplier problems, and, ultimately, botched execution of the Company’s strategic plans; (c) the Company’s manufacturing systems at its critical Monterrey facility suffered from a variety of logistical defects, such as improper system coding, shipping errors, erroneous delivery times, deficient quality control systems, and failures to timely and efficiently procure necessary raw materials; (d) the Company had fallen substantially behind on the launch of new EV programs out of its Monterrey facility, preventing the Company from timely receiving revenue from new EV program awards; and (e) as a result of (a)-(d) above, the Company was not on track to achieve the 2023 diluted earnings per share guidance or the 3-year 6% organic sales CAGR represented to investors, and such estimates lacked a reasonable factual basis.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired PDD Holdings Inc. f/k/a Pinduoduo Inc. (NASDAQ: PDD) securities.
If you suffered a loss on your PDD investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Apr 30 2021 - Sep 12 2024
CASE DETAILS: The filed complaint alleges that PDD Holdings Inc. f/k/a Pinduoduo Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) PDD’s applications contained malware, which was designed to obtain user data without the user’s consent, including reading private text messages; (2) PDD has no meaningful system to prevent goods made by forced labor from being sold on its platform, and has openly sold banned products on its Temu platform; (3) the foregoing subjected the Company to a heightened risk of legal and political scrutiny; and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Elanco Animal Health Incorporated (NYSE: ELAN) securities.
If you suffered a loss on your Elanco investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Nov 07 2023 - Jun 26 2024
CASE DETAILS: The filed complaint alleges that Elanco Animal Health Incorporated made materially false and/or misleading statements and/or failed to disclose that: (i) Zenrelia, a once-daily oral inhibitor for canine dermatology, was less safe than the Company had led investors to believe; (ii) Elanco was unlikely to meet its own previously issued timeline for the U.S. approval and commercial launch of both Zenrelia and Credelio Quattro, a broad spectrum parasiticide product for dogs; (iii) accordingly, the Company’s business and/or financial prospects were overstated; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired iLearningEngines, Inc. (NASDAQ: AILE) securities.
If you suffered a loss on your iLearningEngines investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Apr 22 2024 - Aug 28 2024
CASE DETAILS: The filed complaint alleges that iLearningEngines, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s “Technology Partner” was an undisclosed related party; (2) the Company used its undisclosed related party Technology Partner to report “largely fake” revenue and expenses; (3) as a result of the foregoing, the Company significantly overstated its revenue; and (4) 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.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Terran Orbital Corporation (NYSE: LLAP) securities.
If you suffered a loss on your Terran Orbital Corporation investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Aug 15 2023 - Aug 14 2024
CASE DETAILS: The filed complaint alleges that Terran Orbital Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) it would take much longer than defendants had represented to investors and analysts for Terran to convert its contracts with its customers (collectively, “Customer Contracts”) into revenue and free cash flow; (ii) Terran did not have adequate liquidity to operate its business while waiting for the Customer Contracts to generate revenue and free cash flow; (iii) Terran had concealed the true scope and severity of its dire financial situation; and (iv) as a result of the foregoing, Terran’s public statements were materially false and misleading at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Metagenomi, Inc. (NASDAQ: MGX) securities.
If you suffered a loss on your Metagenomi investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: This lawsuit is on behalf of all shareholders that purchased stock pursuant and/or traceable to Metagenomi’s registration statement for the initial public offering held between February 9 and 13, 2024.
CASE DETAILS: According to the complaint, Metagenomi introduced itself to investors during its initial public offering as a “genetic medicines company” having a long-standing business relationship with Moderna, one of the leading Covid-19 vaccine companies. Integral to Metagenomi’s collaboration with Moderna was the claim that the two companies had entered into a Strategic Collaboration and License Agreement on October 29, 2021, which included multiple four-year research programs and a subsequent licensed product-by-licensed product agreement. Metagenomi completed its initial public offering on February 13, 2024, selling 6.25 million shares at $15 per share. However, less than three months later, on May 1, 2024, Metagenomi announced that it and Moderna had “mutually agreed to terminate their collaboration” agreement. An analyst reported on the announcement, noting that the news was surprising, as was its timing. The analyst also noted that the partnership Metagenomi had with Moderna was a critical part of the core thesis and that losing this partnership during this early stage in development raised more questions than answers. In response to the news, Metagenomi’s stock price declined from $7.04 per share on May 1, 2024 to $6.17 per share on May 2, 2024.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Domino's Pizza, Inc. (NYSE: DPZ) securities.
If you suffered a loss on your Domino's investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Dec 07 2023 - Jul 17 2024
CASE DETAILS: The filed complaint alleges that Domino's Pizza, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Domino’s Pizza Enterprises was experiencing significant challenges with respect to both new store openings and closures of existing stores; (ii) as a result, Domino’s was unlikely to meet its own previously issued long-term guidance for annual global net store growth; (iii) accordingly, Domino’s business and/or financial prospects were overstated; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Bumble Inc. (NASDAQ: BMBL) securities.
If you suffered a loss on your Bumble investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Nov 07 2023 - Aug 07 2024
CASE DETAILS: 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 Bumble’s relaunch strategy, including: Premium Plus and base tiers, focused engagement and more personalized experiences for younger users, and enhancing premium offerings for paid subscription members. Such statements absent material facts caused shareholders to purchase Bumble’s securities at artificially inflated prices. The truth began to emerge on February 27, 2024, when Bumble issued a press release reporting disappointing fourth quarter fiscal 2023 results despite the recent launch of the Premium Plus subscription tier in December 2022. During the subsequent earnings call, management announced that the Premium Plus tier would be revamped as part of the planned Bumble app relaunch, as it “did not have a clear enough market fit” at launch. As a result, Bumble lowered its guidance for full year 2024. In response to this news, Bumble’s stock price declined from $13.18 per share on February 27, 2024 to $11.23 per share on February 28, 2024. On August 7, 2024, Bumble issued a press release announcing mixed second quarter 2024 results. During the corresponding earnings call, defendants disclosed that the app relaunch was not going to plan and the Company would need to “reset” its outlook to refocus on the “consumer ecosystem” and “rebalance Bumble subscription tiers,” including a pause in the revamp of the poorly received Premium Plus tier. On the back of this news, Bumble drastically cut its fiscal year guidance for a second time. As a result, the price of Bumble stock declined from $8.06 per share on August 7, 2024 to $5.71 per share on August 8, 2024.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired American Airlines Group Inc. (NASDAQ: AAL) securities.
If you suffered a loss on your American Airlines investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Jul 20 2023 - May 28 2024
CASE DETAILS: During the class period, defendants made overwhelmingly positive statements to investors regarding American’s new sales and distribution strategy to reduce internal expenses while simultaneously driving a significant demand increase for the Company’s airline services. The complaint alleges that these statements misrepresented the true state of American, and that the Company was simultaneously concealing material adverse facts including, notably, that the Company’s sales and distribution strategy was not driving the revenue projected.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Agenus Inc. (NASDAQ: AGEN) securities.
If you suffered a loss on your Agenus investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Jan 23 2023 - Jul 17 2024
CASE DETAILS: The filed complaint alleges that Agenus Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the combination therapy of their immuno-oncology products, botensilimab and balstilimab was less effective than the defendants had led investors to believe; (ii) accordingly, botensilimab and balstilimab’s clinical results, as well as their regulatory and commercial prospects, were overstated; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired CVS Health Corporation (NYSE: CVS) securities.
If you suffered a loss on your CVS investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Feb 09 2022 - Apr 30 2024
CASE DETAILS: The filed complaint alleges that CVS Health Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) the forecasts CVS used to determine plan premiums were ineffective at accounting for medical cost trends and health care utilization patterns; (ii) as a result, CVS was likely to incur significant expenses to cover cost increases that were not accounted for in the Company’s forecasts and thus not covered by plan premiums; (iii) accordingly, CVS had overstated the profitability of its health care benefits segment; (iv) contrary to defendants’ assurances, the revenues generated from the Company’s other primary segments were insufficient to offset the negative financial impact of the increasing expenditures within the health care benefits segment; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired WEBTOON Entertainment Inc. (NASDAQ: WBTN) securities.
If you suffered a loss on your WEBTOON Entertainment Inc. investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: This lawsuit is on behalf of persons and entities that purchased or otherwise acquired Webtoon common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s June 2024 initial public offering.
CASE DETAILS: The filed complaint alleges that WEBTOON Entertainment Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company experienced a deceleration in advertising revenue growth; (2) the Company experienced a deceleration in IP adaptations revenue; (3) the Company experienced exposure to weaker foreign currencies which offset revenue growth; (4) 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.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired ZoomInfo Technologies Inc. (NASDAQ: ZI) securities.
If you suffered a loss on your ZoomInfo Technologies Inc. investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Nov 10 2020 - Aug 05 2024
CASE DETAILS: The filed complaint alleges that ZoomInfo Technologies Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) ZoomInfo’s financial and operational results during the Class Period had been temporarily inflated by the ephemeral effects of the COVID-19 pandemic, which had pulled-forward demand for the Company’s database of digital contact information; (b) material portions of ZoomInfo’s existing customer base were attempting to either substantially reduce their use of the Company’s product or abandon it altogether; (c) that ZoomInfo had used manipulative and coercive auto-renew policies and threats of litigation to force customers into remaining with the Company for an additional contractual term even though such customers did not want to; (d) ZoomInfo’s coercive customer retention tactics had materially damaged the Company’s customer relationships, client franchise, and competitive advantages, and created a hidden demand cliff for costumer contract renewals in future periods; and (e) as a result of (a)–(d), above, ZoomInfo’s reported revenues, operating income, and customer and retention metrics were materially overstated.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Sage Therapeutics, Inc. (NASDAQ: SAGE) securities.
If you suffered a loss on your Sage Therapeutics investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Apr 12 2021 - Jul 23 2024
CASE DETAILS: The filed complaint alleges that Sage Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Zuranolone, a neuroactive steroid for the treatment of postpartum depression, was less effective in treating Major Depressive Disorder (MDD) than defendants had led investors to believe; (ii) accordingly, the FDA was unlikely to approve the Zuranolone NDA for the treatment of MDD in its present form, and Zuranolone’s clinical results for MDD, as well as its overall regulatory and commercial prospects, were overstated; (iii) SAGE-718 was less effective in treating Mild Cognitive Impairment (MCI) due to Parkinson’s Disease (PD) than defendants had led investors to believe; (iv) accordingly, SAGE-718’s clinical, regulatory, and commercial prospects as a treatment for MCI due to PD were overstated; (v) SAGE-324 was less effective in treating essential tremor than defendants had led investors to believe; (vi) accordingly, SAGE-324’s clinical, regulatory, and commercial prospects as a treatment for essential tremor were overstated; and (vii) as a result of all the foregoing, the Company’s public statements were materially false and misleading at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired GitLab Inc. (NASDAQ: GTLB) securities.
If you suffered a loss on your GitLab investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Jun 06 2023 - Mar 04 2024
CASE DETAILS: 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 GitLab’s ability to develop AI features that would generate code more efficiently and increase market demand for its DevSecOps platform. On March 4, 2024, GitLab issued a press release reporting a strong Q1 in 2024, followed by an announcement lowering full-year guidance for 2025. In pertinent part, defendants announced that the company needed time to build its pipeline and close deals on new products. In addition, provided first quarter 2025 and full year 2025 guidance with growth rates hovering between 30 and 31% and 27%, respectively. Furthermore, GitLab anticipated a Q1 2025 non-GAAP operating loss of $12-$13 million and an operating non-GAAP revenue of $5-$10 million for the full year of 2025. Investors and analysts reacted immediately to GitLab’s revelation. The price of GitLab’s common stock declined dramatically. From a closing market price of $74.47 per share on March 4, 2024, GitLab’s stock price fell to $58.84 per share on March 5, 2024, a decline of about 21% in the span of just a single day.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Orthofix Medical Inc. (NASDAQ: OFIX) securities.
If you suffered a loss on your Orthofix investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Oct 11 2022 - Sep 12 2023
CASE DETAILS: According to the filed complaint, defendants made false and/or misleading statements and/or failed to disclose that Orthofix’s management team was engaged in “repeated inappropriate and offensive conduct that violated multiple code of conduct requirements,” which was also “inconsistent with the Company’s values and culture.” This revelation was particularly egregious as it followed assurances that Orthofix’s management team consisted of individuals committed to conducting business in accordance with the highest ethical and legal standards, and further, that these individuals believed in and fostered a strong performance-based culture focused on integrity, collaboration, innovation, diversity, and corporate responsibility.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Endava plc (NYSE: DAVA) securities.
If you suffered a loss on your Endava investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: May 23 2023 - Feb 28 2024
CASE DETAILS: The filed complaint alleges that Endava plc made materially false and/or misleading statements and/or failed to disclose that: (1) demand for the Company’s services was declining; (2) the Company’s clients delayed or canceled projects; (3) as a result, the Company’s fiscal 2023 and 2024 revenue and earnings would be adversely affected; and (4), as a result, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Starbucks Corporation (NASDAQ: SBUX) securities.
If you suffered a loss on your Starbucks investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Nov 02 2023 - Apr 30 2024
CASE DETAILS: According to the complaint, on April 30, 2024, after market hours, investors began to question the veracity of defendants’ public statements following Starbucks’ press release announcing its second quarter fiscal 2024 earnings and the accompanying same-day earnings call. In pertinent part, defendants announced disappointing Q2 Fiscal 2024 results, stating that store sales declined globally 4%, with traffic falling 7%, and further disclosed a 2% decline in new revenues to $8.6 billion. On the back of these results, Starbucks additionally lowered their guidance for FY 2024, citing global declines in store sales, net revenues, and both GAAP and non- GAAP earnings. The Company attributed its results and lowered guidance on the issues Starbucks was facing in China, with CFO Ruggeri stating, in reference to the Chinese market, “we still see the effects of a slower-than-expected recovery, and we see fierce competition among value players in the market.” Investors and analysts reacted immediately to Starbucks’ revelation. The price of Starbucks’ common stock declined dramatically. From a closing market price of $88.49 per share on April 30, 2024, Starbucks’ stock price fell to $74.44 per share on May 1, 2024, a decline of over 15% in the span of just a single day.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Verve Therapeutics, Inc. (NASDAQ: VERV) securities.
If you suffered a loss on your Verve Therapeutics investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Aug 09 2022 - Apr 01 2024
CASE DETAILS: The filed complaint alleges that Verve Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) defendants did not fully disclose the circumstances under which the Heart-1 Phase 1b clinical trial of VERVE-101, its investigational gene editing medicine, would be halted; (2) defendants overstated the potential benefits of its proprietary lipid nanoparticle delivery system; and (3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired XPEL, Inc. (NASDAQ: XPEL) securities.
If you suffered a loss on your XPEL investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Nov 08 2023 - May 02 2024
CASE DETAILS: The filed complaint alleges that XPEL, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) XPEL’s competitors were siphoning an increasingly large segment of the market; (ii) as a result, the Company’s revenue growth became increasingly dependent upon existing customers and partners; (iii) as a result, the Company’s revenue growth for 2023 and 2024 dwindled; and (iv) as a result, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired STMicroelectronics N.V. (NYSE: STM) securities.
If you suffered a loss on your STMicroelectronics investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Jan 25 2024 - Jul 24 2024
CASE DETAILS: According to the complaint, STMicroelectronics disclosed on July 25, 2024, its U.S. GAAP financial results for the second quarter ending June 29, 2024, and subsequently revised its full-year revenue and margin projections downward for the second time within the current fiscal year. The company now anticipates total revenue for 2024 to fall within the range of $13.2 billion to $13.7 billion, a reduction from the prior forecast of $14 billion to $15 billion. Notably, during the fourth-quarter 2023 earnings call held in January, the company had projected 2024 revenues to range between $15.9 billion and $16.9 billion. For the second quarter, revenue experienced a 25.3% decline year-over-year, amounting to $3.23 billion. Additionally, net sales to Original Equipment Manufacturers (OEMs) and through Distribution channels decreased by 14.9% and 43.7%, respectively, on a year-over-year basis. On this news, the stock dropped over 13% during pre-market trading on July 25, 2024.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Spire Global, Inc. (NYSE: SPIR) securities.
If you suffered a loss on your Spire Global investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Mar 06 2024 - Aug 14 2024
CASE DETAILS: The filed complaint alleges that Spire Global, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) there were embedded leases of identifiable assets and pre-space mission activities for certain Space Services contracts, which allows customers to deploy their own applications and sensors via satellite; (2) Spire Global lacked effective internal controls regarding revenue recognition for these contracts; (3) as a result, the Company overstated revenue for certain Space Services contracts; and (4) 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.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Ardelyx, Inc. (NASDAQ: ARDX) securities.
If you suffered a loss on your Ardelyx investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Oct 31 2023 - Jul 01 2024
CASE DETAILS: The filed complaint alleges that Ardelyx, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) defendants had engaged in a scheme to deceive the investing public, including Plaintiff and other Class members; (ii) this scheme artificially inflated and maintained the market price of Ardelyx securities; and (iii) this scheme caused Plaintiff and other members of the Class to purchase or otherwise acquire Ardelyx securities and options at artificially inflated prices.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Stellantis N.V. (NYSE: STLA) securities.
If you suffered a loss on your Stellantis investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Feb 15 2024 - Jul 24 2024
CASE DETAILS: According to the complaint, Stellantis issued a press release on July 25, 2024, announcing its financial results for the first half of 2024. The Company reported a steep drop in earnings that fell below forecasts, citing weak margins and high inventory at its U.S. operations. In addition, Stellantis’s Chief Executive Officer Carlos Tavares indicated that the Company was ready to dispose of underperforming brands in its portfolio, while Chief Financial Officer Natalie Knight disclosed the need to take “decisive actions to address operational challenges” in North America, including reducing production and prices for the Company’s vehicles. Following this news, Stellantis’s stock price fell over 7% the same day.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Symbotic Inc. (NASDAQ: SYM) securities.
If you suffered a loss on your Symbotic investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: May 06 2024 - Jul 29 2024
CASE DETAILS: According to the complaint, on July 29, 2024, Symbotic announced their 3Q24 financial results and then lowered its revenue guidance for the fourth quarter and full fiscal year 2024. Symbotic attributed their change in guidance to “schedule growth and higher labor costs during the quarter.” Analysts commenting on the stock questioned when management first knew and responded to the issues. Following this news, Symbotic’s stock price opened at $26.36 per share or approximately 25% below the previous day’s close of $35.63 per share.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Sprinklr, Inc. (NYSE: CXM) securities.
If you suffered a loss on your Sprinklr investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Mar 29 2023 - Jun 05 2024
CASE DETAILS: According to the complaint, on December 6, 2023, Sprinklr announced strong 3Q 2024 results and then reduced its estimated growth for the 4Q and full year 2025. The Company blamed it on “subscription renewal pressures” caused by macro headwinds and the “over-rotation” of sales to its Contact Center as a Service (“CCaaS”) market. On an earnings call in September 2023, CEO Ragy Thomas stated that the Company’s investments in AI and the CCaaS opportunity were main contributors to its customer growth. Subsequently, in March several changes were made to the Company’s C-level positions. Analysts commenting on the reduced estimates mention surprise at the timing and shift in the Company’s sales strategy. Following this news, Sprinklr’s stock price fell by $5.59 per share, or approximately 34% to close at $11.11 per share. On June 5, 2024, Sprinklr again announced significantly reduced growth expectations, this time cutting fiscal year 2025 projections another three percent, down to a mere 7% annual growth, again attributing the losses to reduced customer retention in Sprinklr’s core business and macro headwinds. The price of Sprinklr’s common stock declined dramatically. From a closing market price of $10.84 per share on June 5, 2024 Sprinklr’s stock price fell to $9.20 per share on June 6, 2024, a decline of more than 15% in the span of one day.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Extreme Networks, Inc. (NASDAQ: EXTR) securities.
If you suffered a loss on your Extreme Networks, Inc. investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Jul 27 2022 - Jan 30 2024
CASE DETAILS: The filed complaint alleges that Extreme Networks, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) Extreme was suffering from adverse client demand trends as its clients had ordered more product from Extreme than needed in the wake of the COVID-19 pandemic to avoid supply shortages and because of a lack of alternative sourcing options and thereby had cannibalized their Class Period purchasing needs; (b) Extreme was increasingly offsetting these adverse organic demand trends with the fulfillment of backlog orders in a manner that materially exceeded the proportion represented to investors; (c) as a result of (a)-(b), Extreme was drawing down its backlog at a much faster rate than represented to investors; (d) as a result of (a)-(c), Extreme’s backlog was already decreasing and at a much quicker pace than defendants’ statements to investors that backlog would only “begin to shrink” in 4Q23 and it would be not until “fiscal ‘26 when it really goes back to normal”; (e) as a result of (a)-(d), Extreme’s backlog was not on track to continue increasing to $600 million; and (f) as a result of (a)-(e) above, defendants had materially misrepresented Extreme’s organic demand, revenue growth, and market share gains as the fulfillment of Extreme’s backlog masked a decline in organic demand and attendant revenues.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired NANO Nuclear Energy Inc. (NASDAQ: NNE) securities.
If you suffered a loss on your NNE investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: May 08 2024 - Jul 18 2024
CASE DETAILS: The filed complaint alleges that NANO Nuclear Energy Inc. made materially false and/or misleading statements and/or failed to disclose that: a) NNE’s purported progress toward regulatory approval for the design of its planned micro reactors and fuel fabrication plant was nonexistent; b) NNE’s timelines for commercialization were wildly optimistic, at best, and most likely impossible; c) the foregoing issues were likely to have a material negative impact on the Company’s projected revenues and growth; d) as a result, the Company's financial position and/or prospects were overstated; and e) as a result, defendants’ public statements were materially false and misleading at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Moderna, Inc. (NASDAQ: MRNA) securities.
If you suffered a loss on your Moderna investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Jan 18 2023 - Jun 25 2024
CASE DETAILS: The filed complaint alleges that Moderna, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) mRNA-1345, an respiratory syncytial virus vaccine, was less effective than defendants had led investors to believe; (ii) accordingly, mRNA-1345’s clinical and/or commercial prospects were overstated; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Ford Motor Company (NYSE: F) securities.
If you suffered a loss on your Ford investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Apr 27 2022 - Jul 24 2024
CASE DETAILS: (1) the Company had deficiencies in its quality assurance of vehicle models since 2022; (2) as a result, the Company was experiencing higher warranty costs; (3) the Company’s warranty reserves did not accurately reflect the quality issues in vehicles sold since 2022; (4) as a result, the Company’s profitability was reasonably likely to suffer; 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.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired XPEL Technologies Corp. (: XPEL) securities.
If you suffered a loss on your XPEL Technologies Corp. investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Nov 28 2023 - May 02 2024
CASE DETAILS: The filed complaint alleges that XPEL Technologies Corp. made materially false and/or misleading statements and/or failed to disclose that: (i) XPEL’s competitors were siphoning an increasingly large segment of the market; (ii) as a result, the Company’s revenue growth became increasingly dependent upon existing customers and partners; (iii) as a result, the Company’s revenue growth for 2023 and 2024 dwindled; and (iv) as a result, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Lululemon Athletica Inc. (NASDAQ: LULU) securities.
If you suffered a loss on your Lululemon investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Dec 07 2023 - Jul 24 2024
CASE DETAILS: The filed complaint alleges that Lululemon Athletica Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was struggling with inventory allocation issues and color palette execution issues; (2) as a result, the Company’s Breezethrough product launch underperformed; (3) as a result of the foregoing, the Company was experiencing stagnating sales in the Americas region; and (4) 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.
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Levi & Korsinsky notifies investors that it has commenced an investigation into NVIDIA Corporation (NASDAQ: NVDA) concerning potential violations of the federal securities laws.
Nvidia is the subject of a report by The Information published on August 2, 2024. According to the report, the Company’s “upcoming [Blackwell B200] artificial intelligence chips will be delayed by three months or more due to design flaws” discovered “unusually late in the production process.” Following this news, shares of Nvidia fell sharply in intraday trading on August 5, 2024.The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
If you suffered a loss on your NVIDIA securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Indivior PLC (NASDAQ: INDV) securities.
If you suffered a loss on your Indivior investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Feb 22 2024 - Jul 08 2024
CASE DETAILS: The filed complaint alleges that Indivior PLC made materially false and/or misleading statements and/or failed to disclose that: (i) the Company grossly overstated their ability to forecast the negative impact of certain legislation on the financial prospects of Indivior products, which forecasting ability was far less capable and effective than defendants had led investors and analysts to believe; (ii) defendants overstated the financial prospects of the Company's products to treat opioid use disorders and serious mental illnesses, SUBLOCADE, PERSERIS and OPVEE, and thus overstated the Company’s anticipated revenue and other financial metrics; (iii) defendants knew or recklessly disregarded that because of the negative impact of certain legislation on the financial prospects of Indivior’s products, Indivior was unlikely to meet its own previously issued and repeatedly reaffirmed FY 2024 net revenue guidance, including its FY 2024 net revenue guidance for SUBLOCADE, PERSERIS and OPVEE; (iv) defendants knew or recklessly disregarded that Indivior was at a significant risk of, and/or was likely to cease all sales and marketing activities related to PERSERIS; and (v) as a result of the foregoing, the Company’s public statements were materially false and misleading at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired DXC Technology Company (NYSE: DXC) securities.
If you suffered a loss on your DXC Technology investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: May 26 2021 - May 16 2024
CASE DETAILS: The filed complaint alleges that DXC Technology Company made materially false and/or misleading statements and/or failed to disclose that: 1) the Company had misrepresented its ongoing “transformation journey” and its ability to integrate previously acquired companies and business systems.; 2) DXC had reduced costs such as restructuring and integration by merely deferring them; and 3) despite touting its ongoing success in implementing that integration and repeatedly stressing its commitment to reducing costs, defendants knew or recklessly disregarded that the Company was only able to reduce its restructuring and TSI costs by limiting its integration efforts.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Five Below, Inc. (NASDAQ: FIVE) securities.
If you suffered a loss on your FIVE investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Mar 20 2024 - Jul 16 2024
CASE DETAILS: According to the complaint, defendants provided investors with false and/or materially misleading information about FIVE’s financial strength and operations, including its outlook for the first quarter and full year 2024. This information included FIVE’s statement that net sales are expected to be in the range of $826 million to $846 million based on opening approximately 55 to 60 new stores in the first quarter. Further, FIVE claimed that net sales for the full year are expected to be in the range of $3.97 billion to $4.07 billion based on opening between 225 and 235 new stores. Investors discovered that these statements were false and/or materially misleading when, on June 5, 2024, FIVE announced disappointing first quarter 2024 sales result and cut its full year 2024 guidance stating, “Net sales are expected to be in the range of $3.79 billion to $3.87 billion based on opening approximately 230 new stores.” At the same time, FIVE claimed that for the second quarter, “Net sales are expected to be in the range of $830 million to $850 million based on opening approximately 60 new stores.” In response to the disclosure, FIVE’s stock price declined $14.07/per share within the span of just one day. On July 16, 2024, FIVE announced the resignation of Joel Anderson from his positions as President and Chief Executive Officer, as well as from his seat on the Company’s Board of Directors. Concurrently, FIVE projected a decrease of 6% to 7% in comparable sales for the fiscal second quarter ending August 3, 2024. Following this news, FIVE’s stock price dropped over 25% on July 17, 2024.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired CrowdStrike Holdings, Inc. (NASDAQ: CRWD) securities.
If you suffered a loss on your CrowdStrike investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Nov 29 2023 - Jul 29 2024
CASE DETAILS: The filed complaint alleges that CrowdStrike Holdings, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) CrowdStrike had instituted deficient controls in its procedure for updating the Company's main product software, Falcon and was not properly testing updates to Falcon before rolling them out to customers; (2) this inadequate software testing created a substantial risk that an update to Falcon could cause major outages for a significant number of the Company’s customers; and (3) such outages could pose, and in fact ultimately created, substantial reputational harm and legal risk to CrowdStrike. As a result of these materially false and misleading statements and omissions, CrowdStrike stock traded at artificially high prices during the Class Period.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired SeaStar Medical Holding Corporation (NASDAQ: ICU) securities.
If you suffered a loss on your SeaStar Medical investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Oct 31 2022 - Mar 26 2024
CASE DETAILS: The filed complaint alleges that SeaStar Medical Holding Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) SeaStar and/or Legacy SeaStar had deficient compliance controls and procedures related to the Humanitarian Device Exemption (HDE) Application; (ii) accordingly, there were deficiencies with the HDE Application, the FDA was unlikely to approve the HDE Application in its present form, and the selective cytopheretic device’s regulatory prospects were overstated; (iii) the Company had downplayed the true scope and severity of deficiencies in its financial controls and procedures, while overstating Defendants’ efforts to remediate the same; (iv) accordingly, SeaStar had failed to properly account for the classification of certain outstanding warrants and the prepaid forward agreement; (v) as a result, SeaStar was likely to restate one or more of its previously issued financial statements; (vi) accordingly, SeaStar’s post-merger business and financial prospects were overstated; and (vii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Arbor Realty Trust, Inc. (NYSE: ABR) securities.
If you suffered a loss on your ABR investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: May 07 2021 - Jul 11 2024
CASE DETAILS: According to the complaint, during the class period, defendants provided investors with false and/or materially misleading information concerning ABR’s operational and financial health, including its balance sheet loan book and net interest income. Over the course of several months, shareholders learned the truth when first, on March 14, 2023, and then again, on December 5, 2023, investment firms published research reports concerning ABR’s real estate portfolio and accusing the Company of hiding toxic assets. On July 12, 2024, Bloomberg reported that federal prosecutors and the Federal Bureau of Investigation were probing ABR over its lending practices and the value of its loan book. In connection with these disclosures, the price of ABR’s stock has declined substantially causing damages to investors, including most recently the decline from $15.53 per share to $12.89 per share following the Bloomberg report.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired MacroGenics, Inc. (NASDAQ: MGNX) securities.
If you suffered a loss on your MacroGenics investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Mar 07 2024 - May 09 2024
CASE DETAILS: During the class period, Defendants made material misrepresentations about the safety data from its TAMARACK Phase 2 study of vobramitamab duocarmazine. On May 9, 2024, the investing public learned that the drug was significantly more dangerous than defendants had previously represented. Following this news, MGNX’s stock declined 77.4% due to a drop of $11.36/share.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Vicor Corporation (NASDAQ: VICR) securities.
If you suffered a loss on your Vicor investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Apr 26 2023 - Feb 22 2024
CASE DETAILS: During the class period, Defendants created the false and/or materially misleading impression that Vicor had secured a significant deal for its H100 product that, according to analysts, was Nvidia Corporation. These statements proved incorrect when first, on October 24, 2023, Vicor conspicuously failed to discuss the deal and then later, on February 22, 2024, when the Company issued a press release announcing its end of year earnings and flagged a sharp reversal in new contracts and sales. From an intra-class period high of nearly $100/share, Vicor’s stock price has fallen approximately 60%.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Enphase Energy, Inc. (NASDAQ: ENPH) securities.
If you suffered a loss on your Enphase investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Dec 12 2022 - Apr 25 2023
CASE DETAILS: According to the complaint, on April 25, 2023, Enphase issued a press release announcing its first quarter earnings. In pertinent part, defendants announced revenue in the United States had decreased by approximately 9% attributing it to macroeconomic conditions. Additionally, defendants put out a weak second quarter outlook for 2023 where revenue was estimated to be within the range of $700 million to $750 million. Following this news, the price of Enphase’s common stock declined dramatically. From a closing market price of $220.60 per share on April 25, 2023, Enphase’s stock price fell to $163.83 per share on April 26, 2023, a decline of nearly 26% in the span of just a single day.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired NIKE, Inc. (NYSE: NKE) securities.
If you suffered a loss on your NIKE investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Mar 19 2021 - Jun 27 2024
CASE DETAILS: The filed complaint alleges that NIKE, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) NIKE’s direct-to-consumer strategy was unable to generate sustainable revenue growth; (2) NIKE’s purported competitive advantages were unable to protect the Company from intense competitive pressures after NIKE largely disengaged from many of its wholesale and retail partners to focus on the Company’s direct-to-consumer strategy; and (3) as a result, defendants’ representations about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired ODDITY Tech Ltd. (NASDAQ: ODD) securities.
If you suffered a loss on your ODDITY Tech investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Jul 19 2023 - May 20 2024
CASE DETAILS: The filed complaint alleges that ODDITY Tech Ltd. made materially false and/or misleading statements and/or failed to disclose that: (i) Oddity overstated its AI technology and capabilities, and/or the extent to which this technology drove the Company’s sales; (ii) Oddity’s repeat purchase rates and revenues were, at least in part, derived from unsustainable and deceptive sales and advertising practices; (iii) Oddity downplayed the true scope and severity of ongoing civil litigation against the Company and/or its subsidiaries; and (iv) as a result, Oddity’s public statements were materially false and misleading at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired CAE Inc. (NYSE: CAE) securities.
If you suffered a loss on your CAE investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Feb 11 2022 - May 21 2024
CASE DETAILS: The filed complaint alleges that CAE Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) several of CAE’s pre-COVID fixed-price defense contracts had incurred severe cost overruns due to supply chain and labor issues – as the segment was significantly impacted by the pandemic – which dented the segment’s profit and operating margin; and (ii) CAE failed to successfully reduce hard costs and achieve a sufficient level of operational efficiency, particularly with respect to such contracts, necessitating a re-baselining of the defense business and significant associated charges.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Walgreens Boots Alliance, Inc. (NASDAQ: WBA) securities.
If you suffered a loss on your Walgreens investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Oct 12 2023 - Jun 26 2024
CASE DETAILS: According to the complaint, on June 27, 2024, Walgreens announced 3Q24 financial results and reduced its revenue guidance for the fourth quarter and full fiscal year 2024. The Company attributed its results and lowered guidance on the “significant challenges in the U.S. Retail Pharmacy business stemming from a worse-than-expected consumer environment and challenging pharmacy industry trends.” Following this news, Walgreens stock began trading more than 20% lower than the previous day’s closing price of $15.65 per share.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired MongoDB, Inc. (NASDAQ: MDB) securities.
If you suffered a loss on your MongoDB investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Aug 31 2023 - May 30 2024
CASE DETAILS: According to the complaint, on March 7, 2024, MongoDB reported strong Q4 2024 results and then announced lower than expected full-year guidance for 2025. MongoDB attributed it to the Company’s change in its “sales incentive structure” which led to a decrease in revenue related to “unused commitments and multi-year licensing deals.” Following this news, MongoDB’s stock price fell by $28.59 per share to close at $383.42 per share. Later, on May 30, 2024, MongoDB further lowered its guidance for the full year 2025 attributing it to “macro impacting consumption growth.” Analysts commenting on the reduced guidance questioned if changes made to the Company’s marketing strategy “led to change in customer behavior and usage patterns.” Following this news, MongoDB’s stock price fell by $73.94 per share to close at $236.06 per share.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Graphjet Technology (NASDAQ: GTI) concerning potential violations of the federal securities laws.
Graphjet disclosed receipt of a delinquency notification letter from Nasdaq, on June 4, 2024, indicating that the Company was not in compliance with listing rules as a result of its failure to timely file its quarterly report for the quarter ended March 31, 2024 with the U.S. Securities and Exchange Commission. Following this news, Graphjet’s stock price dropped over 8% on June 5, 2024.
If you suffered a loss on your Graphjet securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into BridgeBio Pharma, Inc. (NASDAQ: BBIO) concerning potential violations of the federal securities laws.
BridgeBio issued a press release on June 4, 2024, “announc[ing] sustained positive results from PROPEL 2, a Phase 2 trial of the investigational therapy infigratinib in children with achondroplasia, demonstrating continued potential best-in-class efficacy and an encouraging safety profile.” Despite the study’s ostensibly positive results, a Pipe Sandler analyst compared infigratinib to Voxzogo, an already approved drug produced by BioMarin Pharmaceutical Inc., opining that BridgeBio’s drug “does not appear well-differentiated from Voxzogo” and that “without any clinical differentiation, we see the competitive threat as mixed.” Following this news, BridgeBio’s stock price dropped over 13% the same day.
If you suffered a loss on your BridgeBio securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Sprout Social, Inc. (NASDAQ: SPT) securities.
If you suffered a loss on your Sprout investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Nov 03 2021 - May 02 2024
CASE DETAILS: The filed complaint alleges that Sprout Social, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s sales and revenue growth were not indicative of the Company’s growth as it transitioned to an enterprise sales cycle; (2) the Company faced integration challenges with its acquisition of Tagger, a leading influencer marketing and social intelligence platform; (3) as a result, the Company was “self inducing sales headwinds;” (4) as a result, the Company would revise fiscal year 2024 revenue guidance; 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.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Teladoc Health, Inc. (NYSE: TDOC) securities.
If you suffered a loss on your Teladoc investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Nov 02 2022 - Feb 20 2024
CASE DETAILS: The filed complaint alleges that Teladoc Health, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Teladoc continued to expand its marketing spend throughout 2023, despite public assurances that it would pull back its advertising spending; (2) increased marketing spend on BetterHelp, a Company division and online counseling service, deteriorated Teladoc's revenue, with little return for that investment; (3) despite Teladoc's acknowledgment that increased advertising spend would be marginally inefficient due to market saturation, it continued to grow its advertising spend in the BetterHelp business; and (4) despite public statements that there remained "a long runway" for BetterHelp membership growth, BetterHelp's membership stagnated and then decreased in 2023, due to market saturation, largely due to BetterHelp's own marketing. When the true details entered the market, the lawsuit claims that investors suffered damages.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Inari Medical, Inc. (NASDAQ: NARI) securities.
If you suffered a loss on your Inari Medical investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Mar 10 2021 - Feb 28 2024
CASE DETAILS: The filed complaint alleges that Inari Medical, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company repeatedly touted its financial results and the success of its product sales, but failed to disclose that these numbers were inflated by bribes and other improper and illegal payments to healthcare providers; and (2) as a result, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Toyota Motor Corporation (NYSE: TM) securities.
If you suffered a loss on your Toyota investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Jun 23 2022 - Jun 02 2024
CASE DETAILS: The filed complaint alleges that Toyota Motor Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) Toyota understated its malfeasance relating to certification of its cars and issues relating to overall legal compliance; and (2) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired FutureFuel Corp. (NYSE: FF) securities.
If you suffered a loss on your FutureFuel investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Aug 10 2023 - May 10 2024
CASE DETAILS: The filed complaint alleges that FutureFuel Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) FutureFuel did not have adequate internal controls; (2) FutureFuel’s financial statements were misstated; and (3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired UiPath, Inc. (NYSE: PATH) securities.
If you suffered a loss on your UiPath investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Dec 01 2023 - May 29 2024
CASE DETAILS: According to the complaint, it alleges that throughout the Class Period, defendants made materially false and misleading statements concerning the success of UiPath’s turnaround strategy. For instance, defendants represented that the Company was “executing against that strategy, and we’re seeing [the] results in the deal quality and the customer quality,” asserted that “our strategic investments in innovations and our go-to-market ecosystem positions us well for continued momentum,” and that “there’s no doubt there’s [been] better execution” since the implementation of the turnaround strategy.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired The Scotts Miracle-Gro Company (NYSE: SMG) securities.
If you suffered a loss on your Scotts investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Nov 03 2021 - Aug 01 2023
CASE DETAILS: According to the filed complaint, defendants made false statements and/or concealed that Scotts had an oversupply of inventory that far exceeded consumer demand. Recognizing that problem, Scotts executives engaged in a scheme to saturate the Company’s sales channel with more product than those retailers could sell through to end users, a practice that required Scotts sales personnel to pressure retailers to purchase more inventory than they wanted or needed. Ultimately, Scotts was only able to satisfy the covenants through the channel stuffing scheme.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired UnitedHealth Group Inc. (NYSE: UNH) securities.
If you suffered a loss on your UnitedHealth investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Mar 14 2022 - Feb 27 2024
CASE DETAILS: According to the filed complaint, defendants made false statements and/or concealed that UnitedHealth never established proper firewalls between it's complementary businesses, Optum and UnitedHealthcare, as required by its own policy and as it told the court in an antitrust action, the United States Department of Justice, and investors it would do. Firewalls were never properly created for certain business applications. Despite assurances to the contrary, there was never a meaningful technological separation between Optum and UnitedHealthcare that prevented the sharing of customer sensitive information.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Veradigm Inc. (NASDAQ: MDRX) securities.
If you suffered a loss on your Veradigm investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Feb 26 2021 - Dec 07 2023
CASE DETAILS: The filed complaint alleges that Veradigm Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) Veradigm had overstated its historical revenues by at least $20 million; (b) Veradigm had artificially inflated its revenue by recording duplicate transactions, among other things, over a more than two-year period; (c) Veradigm had artificially inflated its earnings and margins and materially misrepresented demand for the Company’s products and services during the class period; (d) Veradigm had failed to maintain effective internal controls over its financial reporting; (e) Veradigm had failed to comply with Generally Accepted Accounting Principles (“GAAP”) regarding appropriate revenue recognition practices; and (f) as a result of the foregoing, the Company’s financial projections were materially false and misleading and lacked any reasonable basis.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Axos Financial, Inc. (NYSE: AX) concerning potential violations of the federal securities laws.
On June 4, 2024, Hindenburg Research released a report about Axos that raised serious concerns about Axos' credit metrics and suggested potential manipulation or distortion. The report particularly highlighted that Axos' disclosed loan-to-value (LTV) ratios in commercial real estate were significantly lower than those of its peers- 17% less than the median average of nine similar financial entities. Furthermore, accusations from a former Axos credit review officer, which were documented in litigation records, claimed that Axos habitually misrepresented the average LTV ratios of its loans to investors. Following this report Axos' share price was trading down in pre-market trading on June 4, 2024.
If you suffered a loss on your Axos securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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