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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Levi & Korsinsky notifies investors that it has commenced an investigation into Rayonier Advanced Materials Inc. (NYSE: RYAM) concerning potential violations of the federal securities laws.
Rayonier issued a press release “announc[ing] that, effective July 2, 2024, it will suspend operations at its Temiscaming High Purity Cellulose (HPC) plant for an indefinite period. Rayonier stated that “[g]iven current market conditions and high capital and fixed costs associated with the HPC plant, this decision will help mitigate the plant’s ongoing operating losses and improve the Company’s consolidated free cash flow.” Following this news, Rayonier’s stock price dropped over 8% on April 30, 2024.
If you suffered a loss on your Rayonier Advanced Materials Inc. 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 MiMedx Group, Inc. (NASDAQ: MDXG) concerning potential violations of the federal securities laws.
On December 29, 2023, MiMedx issued a press release announcing that “[f]ollowing a routine inspection earlier in the year, the United States Food and Drug Administration (‘FDA’) took the position that one of the Company’s recently-launched placental-derived tissue products – AXIOFILL – does not meet the requirements as a Section 361 product and is therefore subject to enforcement as a Section 351 product. Specifically, FDA asserts that the production of AXIOFILL involves more than ‘minimal manipulation.’ The Company does not agree with FDA’s position and has been actively engaged with the agency through its ‘Request For Designation’ (‘RFD’) process. However, on December 21, 2023, MIMEDX received a Warning Letter from FDA reiterating the agency’s position on AXIOFILL.” On this news, MiMedx’s stock price fell 10.26%, to close at $7.87 per share on January 2, 2024.
If you suffered a loss on your MiMedx Group 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 Rockwell Automation, Inc. (NYSE: ROK) concerning potential violations of the federal securities laws.
Before market opened on May 3, 2022, Rockwell announced results for the second fiscal quarter ended March 31, 2022, including Fiscal 2022 second quarter net income was $53.9 million or $0.46 per share, compared to $415 million or $3.54 per share in the second quarter of fiscal 2021. Rockwell also announced that it was reducing its fiscal year 2022 outlook, such that fiscal 2022 guidance concerning reported sales growth percentage was lowered from a range of 16% to 19%, down to a range of 11% to 15%. Rockwell attributed the guidance reduction to supply chain restraints.
Following this news, Rockwell’ stock price fell more than 14% to close at $213.74 per share on May 3, 2022.
If you suffered a loss on your Rockwell 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 United States Cellular Corporation (NYSE: USM) concerning potential violations of the federal securities laws.
After market closed on November 3, 2022, UScellular announced results for the third fiscal quarter ended September 30, 2022, including that service revenues totaled $781 million, versus $788 million for the same period in the previous year, and that net income (loss) attributable to UScellular shareholders and related diluted earnings (loss) per share were $(12) million and $(0.15), respectively, for the third quarter of 2022 compared to $34 million and $0.38, respectively, for the third quarter of 2021. UScellular also announced that it was reducing the Company’s fiscal year 2022 outlook, such that the upper bounds for the ranges of fiscal 2022 guidance concerning service revenues, adjusted OIBDA, and adjusted EBITDA were lowered by $50 million, $75 million, and $75 million, respectively. Following this news, UScellular’s stock price fell more than 22%, declining from a closing price of $31.05 per share on November 3, 2022 to a close of $24.09 on November 4, 2022.
If you suffered a loss on your UScellular 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 Relmada Therapeutics, Inc. (NASDAQ: RLMD) concerning potential violations of the federal securities laws.
Before market opened on October 13, 2022, Relmada announced the results of its RELIANCE III study (REL-1017-303), evaluating the drug REL-1017 as a monotherapy for Major Depressive Disorder (MDD). Relmada revealed that the RELIANCE III trial did not achieve its primary endpoint, which was a statistically significant improvement in depression symptoms compared to placebo on Day 28, as measured by the Mongomery-Asberg Depression Rating Scale (MADRS). Specifically, the REL-1017 treatment showed a MADRS reduction of 14.8 points at Day 28 versus 13.9 points for placebo, a higher-than-expected placebo response. Relmada described that “[p]aradoxical results were observed in certain study sites, where placebo dramatically outperformed REL-1017.” Following this news, Relmada’s stock price fell nearly 80% to close at $6.48 per share on October 13, 2022.
If you suffered a loss on your Relmada 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 Xometry, Inc. (NASDAQ: XMTR) concerning potential violations of the federal securities laws.
On March 1, 2023, Xometry announced an adjusted EBITDA loss of $14.2 million for the fourth quarter of 2022 due to a “revenue shortfall” and “lower gross margins quarter-over-quarter.” The Company blamed “macroeconomic factors” including inflation that “changed” supplier behavior and “slowing demand.” Further, the Company announced that it would be implementing a “5-point strategic plan” that included “aggressively” reducing operating expenses. Xometry also announced its full year financial guidance for fiscal year 2023 which was significantly worse than analysts had been expecting, including an adjusted EBITDA loss of between $20 million and $22 million instead of the $7.3 million loss projected by analysts. Following this news, Xometry’s stock price fell by $12.01 per share, or approximately 40%, to close at $18.40 per share.
If you suffered a loss on your Xometry 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 First Horizon Corporation (NYSE: FHN) securities.
If you suffered a loss on your First Horizon 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 28 2022 - May 03 2023
CASE DETAILS: According to the complaint, defendants made false statements and/or concealed that TD Bank failed to disclose material information to the market that it had deficient internal controls that posed a significant risk to the closing of the First Horizon transaction. Specifically, TD Bank suffered from grossly ineffective internal controls regarding anti-money laundering practices and failed to appropriately report unusual transactions or suspicious activity to U.S. regulators. According to a report published by The Wall Street Journal, in “recent years,” TD Bank only “flagged 28 customer transactions” as suspicious. As a result, the Office of the Comptroller of the Currency and the U.S. Federal Reserve refused to approve the transaction within the necessary time frames.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Phathom Pharmaceuticals, Inc. (NASDAQ: PHAT) concerning potential violations of the federal securities laws.
On August 2, 2022, before market hours, Phathom issued a press release entitled "Phathom Pharmaceuticals Reports Second Quarter 2022 Financial Results and Provides Business Updates" which announced that "we detected trace levels of a nitrosamine in vonoprazan drug product in our post-approval testing as we prepared for commercial launch." Further, the press release announced that "[t]he Company is working with the FDA and plans to obtain approval of and implement an additional test method, specification, including a proposed acceptable intake limit, and additional controls to address this impurity prior to releasing our first vonoprazan-based products to the market." Finally, Phathom announced that "[t]hese additional activities will result in a delay of the planned VOQUEZNA DUAL PAK and VOQUEZNA TRIPLE PAK product launches." On this news, Phathom's stock price fell $2.61 per share, or 28%, to close at $6.46 per share on August 2, 2022.
If you suffered a loss on your Phathom 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 RH (NYSE: RH) concerning potential violations of the federal securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. RH, the holding company behind retailer Restoration Hardware, announced on February 3, 2023, that "our previously unaudited financial statements for the three months ended April 30, 2022, the three and six months ended July 30, 2022, and the three and nine months October 29, 2022 (collectively the 'Prior Financial Statements') should no longer be relied upon due to material unintentional errors in certain of these financial periods with respect to our calculation of basic and diluted net income per share." Based on this news, shares of RH fell by more than 7.3% in intraday trading on February 6, 2023.
If you suffered a loss on your RH 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 Texas Capital Bancshares, Inc. (NASDAQ: TCBI) concerning potential violations of the federal securities laws.
On March 29, 2021, shares of Texas Capital stock dropped 13% on unusually heavy trading volume as prime brokers associated with now-defunct family office, Archegos Capital Management, unwound large U.S. stock positions linked to the fund. A Bloomberg article published on November 16, 2021 detailed how Archegos built up a previously undisclosed position equal to 20% of Texas Capital prior to the margin calls that forced Archegos' liquidation. According to the article, Texas Capital was aware of the large position held by Archegos while it raised additional capital from investors in February 2021.
If you suffered a loss on your Texas Capital 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 Reata Pharmaceuticals, Inc. (NASDAQ: RETA) concerning potential violations of the federal securities laws.
On May 10, 2023, Reata issued a press release announcing its financial results for the first quarter of 2023. Among other items, Reata announced its decision to discontinue studies for its kidney disease candidate bardoxolone, which the Company had previously advanced as one of its lead assets in partnership with Blackstone Life Sciences and Kyoma Kirin. On this news, Reata's stock price fell $14.99 per share or 14.23%, to close at $90.38 per share on May 10, 2023.
If you suffered a loss on your Reata 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 Sea Limited (NYSE: SE) concerning potential violations of the federal securities laws.
On May 16, 2023, Sea issued a press release announcing its financial results for the first quarter of 2023. Among other items, Sea reported first-quarter earnings that fell significantly short of expectations due to a sharp increase in loan reserves. Sea also disclosed that the Company's previous Chief Investment Officer, David Ma, had left that role and joined the Company's Board of Directors. On this news, Sea's stock price fell $15.62 per share, or 17.74%, to close at $72.45 per share on May 16, 2023.
If you suffered a loss on your Sea 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 Zai Lab Limited (NASDAQ: ZLAB) concerning potential violations of the federal securities laws.
On March 9, 2022, the U.S. Securities and Exchange Commission (“SEC”) published a notification identifying Zai Lab, among other companies, as in potential violation of the Holding Foreign Companies Accountable Act, which allows the SEC to delist companies and ban a company’s shares from being traded if the company fails to allow U.S. regulators to review their company audits for three straight years. Zai Lab and the other companies named in the SEC notification have until March 29, 2022 to challenge the charges against them. On this news, Zai Lab’s stock price fell $6.74 per share, or 18%, to close at $30.02 per share on March 10, 2022. On June 6, 2023, Zai Lab reported phase 3 trials for an oncology therapy it is developing with NovoCure. It said that its tumor treating fields (TTFields) therapy, which uses skin patches to deliver electric fields to areas of the body, when used with standard therapies, met its primary endpoint of three-month improvement in median overall survival time in metastatic non-small cell lung cancer (NSCLC) patients. However the study was unreliable because many of the study participants didn't use an initial checkpoint inhibitor, which is seen as the leading way to treat NSCLC, thereby allowing for the possibility that the study was highly skewed by comparing TTFields to a lesser therapy. On this news, Zai Lab's stock fell $4.88 per share, or 14.55%, on unusually high trading volume, to close at $28.66 per share on June 7, 2023.
If you suffered a loss on your Zai Lab 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 Hayward Holdings, Inc. (NYSE: HAYW) concerning potential violations of the federal securities laws.
Hayward designs, manufactures, and markets a broad portfolio of pool equipment and associated automation systems, selling products primarily to distributors, major pool builders, buying groups, servicers, and specialty on-line resellers, all of which, in turn, sell Hayward's products to the pool owner. Hayward purports to have good channel inventory knowledge as channel partners report inventory positions directly to Hayward. On July 28, 2022, Hayward revealed that its channel partners planned to reduce the inventory on hand, requiring Hayward to reduce its 2022 guidance. On this news, Hayward's stock declined over 18%.
If you suffered a loss on your Hayward 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 Mersana Therapeutics, Inc. (NASDAQ: MRSN) concerning potential violations of the federal securities laws.
On June 15, 2023, Mersana issued a press release "announc[ing] that the U.S. Food and Drug Administration (FDA) has issued a partial clinical hold pausing new patient enrollment in UP-NEXT and UPGRADE-A, the company's ongoing clinical trials of UpRi in platinum-sensitive ovarian cancer. UPLIFT, Mersana's ongoing clinical trial of UpRi in platinum-resistant ovarian cancer, completed enrollment in October 2022." Mersana stated that "[t]he partial clinical hold follows a submission by Mersana of a recent aggregate safety report of all patients dosed with UpRi (approximately 560 patients) evaluating bleeding events" and that "Mersana's recent assessment determined that serious bleeding events appear to occur at a higher rate than background. While most bleeding cases in this aggregate safety analysis were low-grade, five (<1%) Grade 5 (fatal) bleeding events were observed among the approximately 560 patients dosed to date. The causes of bleeding events remain under investigation." On this news, Mersana's stock price fell $5.66 per share, or 59.27%, to close at $3.89 per share on June 15, 2023.
If you suffered a loss on your Mersana 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 Knowles Corporation (NYSE: KN) concerning potential violations of the federal securities laws.
The investigation relates to Knowles’ second quarter earnings report on August 2, 2022 and reduced revenue and earnings guidance for the following quarter.
If you suffered a loss on your Knowles 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 Biomea Fusion, Inc. (NASDAQ: BMEA) concerning potential violations of the federal securities laws.
On June 23, 2023, Biomea Fusion presented data for its Type 2 diabetes drug candidate BMF-219 at a meeting of the American Diabetes Association. In response to the presentation, market analysts downgraded Biomea Fusion and its stock price fell $6.25 per share, from $30.67 per share on June 23, 2023 to close at $24.42 per share on June 26, 2023.
If you suffered a loss on your Biomea Fusion 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 Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) concerning potential violations of the federal securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Regeneron received a response letter from the FDA on June 27, 2023, declining to approve its application for an 8mg dose of aflibercept, marketed in the U.S. as Eylea. The Company claims that the denial is due to an ongoing review of findings at a third-party filler. Based on this news, shares of Regeneron dropped more than 9% on the same day.
If you suffered a loss on your Regeneron 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 Consensus Cloud Solutions, Inc. (NASDAQ: CCSI) concerning potential violations of the federal securities laws.
On February 22, 2023, the company announced that “as a result of the unintentional errors noted [below], the audit committee (the ‘Audit Committee’) of the board of directors of the Company reached a determination to restate its unaudited financial statements for the three and nine month periods ended September 30, 2022.” The “unintentional errors” were “primarily relating to (i) to a legacy accounting practice, inherited from the spin transaction in its SoHo business that grossed up revenue by $1.9 million and $5.3 million for the three and nine month periods ended September 30, 2022, respectively, with a corresponding offset to bad debt expense (‘SoHo Error’) and (ii) the timing of revenue recognition of $2.2 million and $2.5 million for the three and nine month periods ended September 30, 2022, respectively, which after review, the Company has concluded should be reclassified as deferred revenue (‘Deferred Revenue Error’).” Following this news, on February 22, 2023, Consensus Cloud Solution’s shares fell by over 21%.
If you suffered a loss on your Consensus Cloud Solutions 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 Toast, Inc. (NYSE: TOST) concerning potential violations of the federal securities laws.
On or around September 22, 2021, Toast conducted its initial public offering ("IPO"), selling over 21.7 million shares priced at $40.00 per share. Then, on February 16, 2023, Toast issued a press release announcing its financial results for the fourth quarter and full year 2022. Among other items, Toast reported earnings per share of -$0.19, missing consensus estimates by $0.01. On this news, Toast's stock price fell $5.93 per share, or 22.84%, to close at $20.03 per share on February 16, 2023. Then, on July 19, 2023, Toast announced the removal of a $0.99 order processing fee from the Company's new version of its digital ordering suite. The processing fee, announced in June 2023, had prompted widespread complaints from restaurant operators. On this news, Toast's stock price fell sharply during intraday trading on July 19, 2023 from $26.76 per share on July 18, 2023 to $22.56.
If you suffered a loss on your Toast 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 Snap Inc. (NYSE: SNAP) concerning potential violations of the federal securities laws.
On July 25, 2023, the Company reported a weaker than expected Q3 forecast. On this news, SNAP stock price fell sharply from a closing price of $12.51 per share on July 25, 2023 to open at $10.36 on July 26, 2023, declining 19% in premarket trading.
If you suffered a loss on your Snap 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 Lordstown Motors Corp. (OTC: RIDEQ) securities.
If you suffered a loss on your Lordstown 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 04 2022 - Jun 26 2023
CASE DETAILS: According to the complaint, defendants repeatedly made and/or caused Lordstown to make false and/or misleading statements about Lordstown’s relationship with Hon Hai Technology Group (“Foxconn”) suggesting, or in some instances, representing that Foxconn was working cooperatively with Lordstown when in fact, the partnership had stalled soon after the execution of a joint venture agreement and quickly soured.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Zebra Technologies Corporation (NASDAQ: ZBRA) concerning potential violations of the federal securities laws.
The investigation focuses on potential securities laws violations in connection with the Company’s third quarter results and decision to lower its revenue and earnings guidance for the year. In response to the news, Zebra’s stock price declined approximately $53/share.
If you suffered a loss on your Zebra 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 Freedom Holding Corp. (NASDAQ: FRHC) concerning potential violations of the federal securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Freedom Holding is the subject of a report issued by Hindenburg Research on August 15, 2023. The report highlights "red flags" at the Company "including evidence that Freedom (i) brazenly skirts sanctions (ii) shows hallmark signs of fake revenue (iii) commingles customer funds then gambles assets in highly levered, illiquid, risky market bets (iv) and displays signs of market manipulation in both its investments and its publicly traded shares." Based on this news, shares of Freedom Holding fell by more than 5.5% in intraday trading on the same day.
If you suffered a loss on your Freedom Holding 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 Silicon Motion Technology Corporation (NASDAQ: SIMO) securities.
If you suffered a loss on your Silicon Motion 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 - Jul 26 2023
CASE DETAILS: According to the complaint, the defendants made false statements and/or concealed that: (a) MaxLinear, Inc. (“MaxLinear”) had decided it would not consummate a business combination with Silicon Motion (the “Merger”) because the economic circumstances surrounding the Merger had materially changed, including a material downturn in the semiconductor industry and rising interest rates; (b) MaxLinear had determined to unilaterally terminate the Merger in the event the Merger was approved by China’s State Administration for Market Regulation (“SAMR”); (c) MaxLinear intended to argue that certain conditions in Article 6 of the Merger Agreement had not been satisfied as required by May 5, 2023 (i.e., before the Class Period) as a basis to terminate the Merger; and (d) as a result of (a)-(c) above, defendants had materially misrepresented the viability of the Merger, the purported benefits of the Merger, and the likelihood that the Merger would be consummated.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Semtech Corporation (NASDAQ: SMTC) concerning potential violations of the federal securities laws.
On August 31, 2022, Semtech announced lower than expected guidance for the fourth quarter 2022 due to “weakness in the consumer sector.” The Company blamed the downturn on “macroeconomic softness” and ongoing pandemic-related challenges in China. Following this news, Semtech’s stock price fell by $12.54 per share, or approximately 27% to close at $33.65 per share. Further, on March 29, 2023, Semtech announced weak guidance for the first quarter of fiscal 2024 attributing it to lower than expected consumer demand and an extremely “weak China.” Following this news, Semtech’s stock price fell by $6.86 per share, or approximately 21% to close at $25.25 per share.
If you suffered a loss on your Semtech 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 Siemens Energy AG (OTC: SMNEY) concerning potential violations of the federal securities laws.
On June 23, 2023, Siemens announced it was withdrawing its profit guidance for fiscal year 2023 due to a “substantial increase in failure rates of wind turbine components” at newly acquired Siemens Gamesa (SGRE). After an “extended technical review”, the Company expects additional costs to be in excess of approximately 1 billion Euros. Siemens further indicated an increase in product costs and ramp-up challenges in the off-shore business. Following this news, the Company’s share price fell by $5.87 per share, or approximately 27% to close at $15.88 per share.
If you suffered a loss on your Siemens 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 Archer Aviation Inc. (NYSE: ACHR) securities.
If you suffered a loss on your Archer 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: Sep 17 2021 - Aug 15 2023
CASE DETAILS: The filed complaint alleges that Archer Aviation Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the Company relied on heavily edited videos of earlier flights to exaggerate the amount of flight testing it had actually performed and the sophistication of its eVTOL aircraft; (ii) the Company had misrepresented the nature and profitability of its business partnerships, (iii) the Company was unlikely to secure FAA certification in the timeframe it had represented to investors, thereby delaying the start of mass production of its aircraft for commercial sales; (iv) accordingly, the Company had overstated its financial position and/or prospects; (v) all of the foregoing, once revealed, was likely to subject the Company to significant financial and/or reputational harm; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Doximity, Inc. (NYSE: DOCS) concerning potential violations of the federal securities laws.
On May 16, 2023 Doximity announced it was revising downwards its guidance for 2023. Management cited a major reason for this guidance reduction was softer-than-anticipated sales for upgrades to Doximity’s products. Consequently, analysts called into question the credibility of Doximity’s management because of management’s repeated guidance revisions over multiple quarters. Following this news, DOCS’ stock price fell by $9.15 per share, or approximately 27% to close at $25.30 per share.
If you suffered a loss on your Doximity 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 ARS Pharmaceuticals, Inc. (NASDAQ: SPRY) concerning potential violations of the federal securities laws.
On September 19, 2023, ARS announced it received from the Food and Drug Administration (FDA) a Complete Response Letter (CRL) concerning ARS’ “neffy.” “Neffy” is a nasally administered epinephrine dose used in cases of severe allergic reactions. The CRL indicated ARS must complete additional studies on “neffy” before the FDA can consider further the drug’s approval. In particular, the FDA indicated ARS must provide data concerning repeated doses of nasal epinephrine in individuals experiencing allergic reactions. Following this news, ARS’ stock price fell by $4.52 per share, or approximately 61% to close at $2.92 per share.
If you suffered a loss on your ARS 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 MasTec, Inc. (NYSE: MTZ) concerning potential violations of the federal securities laws.
On August 3, 2023, MasTec announced it missed its estimates for the second quarter of 2023. The Company also revised downwards its 2023 guidance, blaming slowdowns in its communications margins for the revision. Analysts critiqued the Company for its “over-promise, under-deliver halo” concerning overly optimistic guidances which fail to materialize. Following this news, MTZ stock price fell by $24.79 per share – or approximately 21% -- within two business days of the news.
If you suffered a loss on your MasTec 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 Viasat, Inc. (NASDAQ: VSAT) concerning potential violations of the federal securities laws.
On July 12, 2023, Viasat announced an unexpected event occurred during reflector deployment that may materially impact the performance and capacity of the ViaSat-3 Americas satellite. Analysts commenting on Viasat’s “antenna anomaly” raised questions as to their inability to correct the antenna issue which previously occurred to the Company’s ViaSat-2 satellite in 2017. Following this news, Viasat’s stock price fell by $12.24 per share, or approximately 28% to close at $30.74 per share.
If you suffered a loss on your Viasat 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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