Levi & Korsinsky notifies investors that it has commenced an investigation into Brooge Energy Limited (NASDAQ: BROG) concerning potential violations of the federal securities laws.
On December 22, 2023, the United States Securities and Exchange Commission (“SEC”) announced fraud charges against Brooge, the Company’s former Chief Executive Officer (“CEO”), Nicolaas Lammert Paardenkooper, and its former Chief Strategy Officer and Interim CEO, Lina Saheb. According to the SEC order, before and after going public through a special purpose acquisition transaction, Brooge misstated between 30 and 80 percent of its revenues from 2018 through early 2021 in SEC filings related to the offer and sale of up to $500 million of securities. Further, the order found that Brooge created false invoices to support inflating revenues from its oil facilities in Fujairah, United Arab Emirates by over $70 million over three years, and that Paardenkooper and Saheb knew, or were reckless in not knowing, of the fraud. The SEC order also found that Brooge provided these false invoices to its auditors to conceal the inflated revenue. In addition, according to the order, Brooge agreed during the SEC’s investigation not to issue the $500 million in securities. On this news, the Company’s stock price dropped during intraday trading on December 22, 2023.
If you suffered a loss on your Brooge 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 argenx SE (NASDAQ: ARGX) concerning potential violations of the federal securities laws.
On December 20, 2023, Investor's Business Daily reported that argenx 's "stock crashed early Wednesday after its treatment for an autoimmune disease that causes skin blisters flopped in a Phase 3 study." Based on this news, shares of the Company's stock were down by more than 25% in intraday trading on the same day.
If you suffered a loss on your argenx 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 Checkpoint Therapeutics, Inc. (NASDAQ: CKPT) concerning potential violations of the federal securities laws.
On December 18, 2023, Checkpoint issued a press release announcing that the U.S. Food and Drug Administration had issued a complete response letter for the cosibelimab biologic license application for the treatment of patients with metastatic or locally advanced cutaneous squamous cell carcinoma who are not candidates for curative surgery or radiation. According to Checkpoint's release, "[t]he CRL only cites findings that arose during a multi-sponsor inspection of Checkpoint's third-party contract manufacturing organization as approvability issues to address in a resubmission." Checkpoint's President and Chief Executive Officer stated that "we believe we can address the feedback in a resubmission to enable marketing approval in 2024". On this news, Checkpoint's stock price dropped 44.88%, to close at $1.83 per share on December 18, 2023.
If you suffered a loss on your Checkpoint 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 BlackRock, Inc. (NASDAQ: BLK) concerning potential violations of the federal securities laws.
On December 18, 2023, the Attorney General of Tennessee filed a consumer protection lawsuit against BlackRock. The allegations included that Blackrock made false or misleading representations to current and potential Tennessee consumers about the extent to which Environmental, Social, and Governance considerations affect BlackRock's investment strategies. In a press release, the Attorney General stated that "BlackRock's inconsistent statements about its investment strategies deprived consumers of the ability to make an informed choice." The complaint against BlackRock addresses the Company's use of corporate engagement and the voting of its shares to achieve various climate-related policy goals, seeking injunctive relief and civil penalties. On this news, BlackRock's stock price fell $22.56 per share to close at $796.44 per share on December 18, 2023.
If you suffered a loss on your BlackRock, 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 NeoGenomics, Inc. (NASDAQ: NEO) concerning potential violations of the federal securities laws.
On July 31, 2023, NeoGenomics' competitor, Natera, Inc., announced that it had sued NeoGenomics in federal court, alleging that the Company's cancer test, the RaDaR molecular residual disease assay, infringed Natera's patents. On December 27, 2023, Natera announced that the federal court had issued a preliminary injunction, effective immediately, barring NeoGenomics from making, using, selling, or promoting the RaDaR test, but that NeoGenomics may continue to offer RaDaR to existing patients and for clinical trials, studies, or projects already in process. The following day, NeoGenomics acknowledged the preliminary injunction, announcing that it would appeal the federal court's ruling. On this news, NeoGenomics' stock price fell $3.71 per share, or 18.1%, to close at $16.79 per share on December 28, 2023.
If you suffered a loss on your NeoGenomics 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 Cytosorbents Corporation (NASDAQ: CTSO) concerning potential violations of the federal securities laws.
On December 28, 2023, Cytosorbents issued a press release announcing that its pivotal trial investigating the ability of its device candidate, DrugSorb®-ATR, to reduce perioperative bleeding in patients on ticagrelor (Brilinta®, Brilique® - AstraZeneca) undergoing cardiothoracic surgery before completing the recommended washout period, "did not meet the primary effectiveness endpoint in the overall patient population that underwent different types of cardiac surgeries." On this news, Cytosorbents' stock price fell $0.545 per share, or 33.44%, to close at $1.085 per share on December 28, 2023.
If you suffered a loss on your Cytosorbents 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 XPEL, Inc. (NASDAQ: XPEL) concerning potential violations of the federal securities laws.
On October 19, 2023, Culper Research issued a report on XPEL alleging that the Company had "grossly understated its reliance on Tesla," and that Tesla's decision to insource is a "death knell" for XPEL. The report also claimed that "the Company is concealing a massive undisclosed risk from its primary supplier which threatens to upend the Company's entire reason for being." Based on this news, shares of XPEL fell by more than 16% in value on October 19, 2023.
If you suffered a loss on your XPEL 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 DocGo Inc. (NASDAQ: DCGO) concerning potential violations of the federal securities laws.
Before the market opened on January 10, 2024 , Fuzzy Panda Research released a report entitled “DocGo – Allegations of Fraudulent Billing Practices & Forging of Documents.” Fuzzy Panda further stated that “through former employee interviews and never before seen lawsuits we discovered serious allegations that DocGo (DCGO) has allegedly been committing Medicare fraud and having employees forge signatures on medical documents.” Following this news, the price of DocGo stock fell over 16% on January 10, 2024.
If you suffered a loss on your DocGo 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 Grifols, S.A. (NASDAQ: GRFS) concerning potential violations of the federal securities laws.
Gotham City Research LLC published a short-seller report on Grifols, S.A. on January 9, 2024. In the report, Gotham City alleged that the stock market “appears to fundamentally misunderstand the company.” The report claimed that Grifols “artificially reduced leverage by consolidating earnings of units it doesn't control and has overstated profit.” In addition, the report stated “GRF manipulates reported debt & EBITDA to artificially reduce reported leverage to 6x which we believe is closer to 10x-13x.” The report concluded if these estimates are correct, Grifols “will face notably higher financing costs. Consequently, we believe shares are uninvestable, likely zero.” On this news, Grifols American Depositary Receipts fell over 33%, in pre-market trading on January 9, 2024.
If you suffered a loss on your Grifols 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 Okta, Inc. (NASDAQ: OKTA) concerning potential violations of the federal securities laws.
On October 20, 2023, Barron's published an article titled: "Okta Stock Drops After Hacker Gains Access to Support System." According to the article, "Okta says a hacker used a stolen credential to access its support system." In an online post, the Okta's Chief Security Officer stated, "The threat actor was able to view files uploaded by certain Okta customers as part of recent support cases." Following this news, shares of Okta fell by over 11% on the same day.
If you suffered a loss on your Okta 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 NetScout Systems, Inc. (NASDAQ: NTCT) concerning potential violations of the federal securities laws.
On October 16, 2023, NetScout released its financial results for the second quarter. According to Marketwatch, NetScout "cut its outlook for the year, citing slower order conversions. NetScout shares dropped more than 20% after hours, following a 3.5% rise to close the regular session at $27.59."
If you suffered a loss on your NetScout 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 Future FinTech Group Inc. (NASDAQ: FTFT) concerning potential violations of the federal securities laws.
The United Stated Securities and Exchange Commission posted an announcement on its website entitled “SEC Charges Future FinTech CEO Shanchun Huang with Fraud and Disclosure Failures” on January 11, 2024. It further stated, “[t]he Securities and Exchange Commission today charged Shanchun Huang with manipulative trading in the stock of Future FinTech Group Inc., using an offshore account shortly before he became Future FinTech’s CEO in 2020. The SEC also charged Huang with failing to disclose his beneficial ownership of Future FinTech stock as well as transactions in such stock.” Following this news, the price of Future FinTech stock declined over 16%.
If you suffered a loss on your Future FinTech Group 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 Bowlero Corp. (NYSE: BOWL) concerning potential violations of the federal securities laws.
On May 17, 2023, Bowlero announced its Q3 2023 financial results. The Company disclosed as part of its results that it had failed to maintain appropriate controls over financial reporting related to, among other things, acquisitions and fixed assets. The Company also noted, "Additionally, we did not design and maintain effective controls over system access controls to establish segregation of duties for those with roles and responsibilities for the general ledger." Following this news, on May 18, 2023 shares fell over 12%.
If you suffered a loss on your Bowlero 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 PTC Therapeutics, Inc. (NASDAQ: PTCT) concerning potential violations of the federal securities laws.
On September 15, 2023, PTC announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency issued a negative opinion of its drug Translarna, for the treatment of nonsense mutation Duchenne muscular dystrophy. The CHMP concluded that Translarna’s benefit-risk balance was negative and denied conversion of the conditional marketing authorization to full marketing authorization, in addition to the renewal of the existing conditional authorization. Analysts noted that they were surprised by the CHMP’s decision to deny renewal of Translarna’s marketing authorizations. Following this news, PTC’s stock price fell by $11.13 per share, or approximately 30% to close at $26.26 per share.
If you suffered a loss on your PTC 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 Methanex Corporation (NASDAQ: MEOH) securities.
If you suffered a loss on your Methanex 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: Feb 23 2019 - Feb 23 2024
CASE DETAILS: On February 20, 2024, Methanex issued a press release “announc[ing] . . . that commercial production of its new 1.8 million tonne methanol plant, Geismar 3 (G3), in Geismar, Louisiana has been delayed due to complications that occurred in the autothermal reformer (ATR) during the late stages of the initial start-up process.” Methanex stated that significant damage was sustained to a large number of supporting refractory bricks in the vessel which will require replacement, causing commercial production to be delayed up to the end of the third quarter of 2024. Following this news, Methanex’s stock price fell over 6%.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Alignment Healthcare, Inc. (NASDAQ: ALHC) concerning potential violations of the federal securities laws.
Alignment conducted its initial public offering (“IPO”), selling 27.2 million shares of common stock priced at $18.00 per share. Then, on February 27, 2024, Alignment issued a press release reporting its fourth quarter and full-year 2023 financial results. Among other items, Alignment reported earnings per share of -$0.25, missing consensus estimates by $0.03. Following this news, on February 28, 2024, Alignment’s stock price fell 13%.
If you suffered a loss on your Alignment Healthcare 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 Bolt Biotherapeutics, Inc. (NASDAQ: BOLT) concerning potential violations of the federal securities laws.
Bolt announced in a press release on May 14, 2024, that the Company would "cease further development of trastuzumab imbotolimod (BDC-1001)", Bolt's lead asset, "and reduce workforce by approximately 50%". Following Bolt's announcement, multiple analysts downgraded the Company's stock. Following this news, Bolt's stock dropped over 18% on May 15, 2024.
If you suffered a loss on your Bolt Biotherapeutics, 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 Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN) concerning potential violations of the federal securities laws.
Maxeon disclosed on May 13, 2024, that it would delay its SEC filing and the release of its financial results for the Fourth Quarter of Fiscal Year 2023 and First Quarter of 2024, which had been originally slated for public dissemination on May 15, 2024. Following this news, Maxeon's stock dropped over 28% on May 15, 2024.
If you suffered a loss on your Maxeon Solar Technologies, Ltd. 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 Bridge Investment Group Holdings Inc. (NYSE: BRDG) concerning potential violations of the federal securities laws.
Bridge issued a press release, on February 21, 2024, reporting its financial results for the fourth quarter and full year 2023. Among other items, Bridge reported a net loss of $87.4 million for the year, citing “volatility within commercial real estate markets” and stating that “[f]und management fees for the quarter . . . were negatively impacted by $5.7 million related to Bridge Office Fund I fees that were deemed uncollectible due to market headwinds within the broader office sector.” Following this news, Bridge’s stock price fell over 15% on February 22, 2024.
If you suffered a loss on your Bridge Investment Group Holdings 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 TTEC Holdings, Inc. (NASDAQ: TTEC) concerning potential violations of the federal securities laws.
TTEC issued a press release, on February 29, 2024, announcing its financial results for fourth quarter and full year 2023. Among other items, TTEC announced non-GAAP earnings per share of $0.37, missing consensus estimates by $0.02. TTEC also cautioned investors that "client budget constraints", the elimination of a TTEC-supported business line at "a long-tenured client", and a "timing lag between our recent wins and normalized revenue run rate and margins" all presented "challenges" impacting the Company's 2024 outlook. Following this news, TTEC's stock price dropped over 20%, on March 1, 2024.
If you suffered a loss on your TTEC Holdings, 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 Infinera Corporation (NASDAQ: INFN) concerning potential violations of the federal securities laws.
Infinera disclosed that “the Company’s management concluded that, as of December 31, 2022, there were material weaknesses in its internal control over financial reporting related to its revenue cycle, inventory cycle, and with respect to these, its internal resources, expertise and policies required to maintain an effective control environment.” On March 6, 2024, Infinera disclosed that the Company’s Chief Legal Officer “will transition to an Advisor role reporting to the Company’s Chief Executive Officer” and “will no longer serve as an executive officer of the Company.” Following this news, Infinera’s stock price fell over 7%.
If you suffered a loss on your Infinera Corporation 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 WESCO International, Inc. (NYSE: WCC) concerning potential violations of the federal securities laws.
On February 13, 2024, Wesco released its quarterly earnings for Q4-2023, which the Company described as “very disappointing” with sales and revenues below expectations. Analysts characterized the quarterly results as a “massacre.” The Company attributed sluggish revenues to higher-than-anticipated SG&A expenses, especially health care costs. However, analysts questioned this explanation and questioned the Company’s methods of generating its earnings projections, especially in light of the rapidly increased SG&A costs. Following the release of the Q4-2023 earnings report, WCC shares fell $61.24, or 31.8%, to $132.59.
If you suffered a loss on your WESCO 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 Fair Isaac Corporation (NYSE: FICO) concerning potential violations of the federal securities laws.
On March 12, 2024, U.S. Senator Josh Hawley sent a letter to the Antitrust Division of the U.S. Department of Justice, urging it to investigate FICO’s “potentially anticompetitive practices.” In the letter, Senator Hawley asserted that FICO “appears to be using its monopolistic power of the credit scoring market to increase costs for mortgage lenders—an increase that will be passed onto consumers.” Senator Hawley accused FICO of “astronomically hik[ing] its prices” “[i]n an apparent abuse of this market power.” Following this news, on March 13, 2024, FICO’s stock price fell over 5%.
If you suffered a loss on your Fair Isaac Corporation 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 Bristol-Myers Squibb Company (NYSE: BMY) securities.
If you suffered a loss on your Bristol-Myers Squibb Company 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 2019 - Mar 19 2024
CASE DETAILS: The U.S. Food and Drug Administration (“FDA”) posted briefing documents in advance of meeting of the Oncologic Drugs Advisory Committee, scheduled for March 15, 2024, regarding Bristol Myers’s CAR-T cell therapy Abecma. The briefing documents noted that Abecma was linked to earlier deaths, citing late-stage clinical trial data submitted by Bristol Myers. Following this news, on March 13, 2024, Bristol Myers’s stock price fell over 3%.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Beyond Meat, Inc. (NASDAQ: BYND) concerning potential violations of the federal securities laws.
Beyond Meat filed a Form NT 10-K with the U.S. Securities and Exchange Commission, stating that the Company "was unable, without unreasonable effort or expense, to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2023 . . . by the prescribed deadline of 5:30 p.m. (ET) on February 29, 2024 due to technical difficulties in assembling the submission for filing." Following this news, on March 1, 2024, Beyond Meat's stock price fell over 9%.
If you suffered a loss on your Beyond Meat 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 Dollar Tree, Inc. (NASDAQ: DLTR) concerning potential violations of the federal securities laws.
Dollar Tree is the subject of a report by Bloomberg published on March 13, 2024. According to the report, the Company "plans to shutter about 1,000 stores in an effort to improve profitability as the discount retailer battles a spate of litigation and other headwinds." Following this news, shares of Dollar Tree fell over 13% in morning trading on the same day.
If you suffered a loss on your Dollar Tree, 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 Argo Blockchain plc (NASDAQ: ARBK) concerning potential violations of the federal securities laws.
Argo issued a press release, on March 5, 2024, “announc[ing] that it has entered into an agreement for the sale of its data center located in Mirabel, Quebec (the ‘Mirabel Facility’) for total consideration of $6.1 million (the ‘Transaction’)” and that “[t]he net proceeds from the Transaction are expected to first repay the Mirabel Facility’s outstanding mortgage in full, with the remainder expected to be used to repay debt owed to Galaxy Digital Holdings, Ltd.” Following this news, Argo’s price fell over 10%.
If you suffered a loss on your Argo Blockchain 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 ARMOUR Residential REIT, Inc. (NYSE: ARR) concerning potential violations of the federal securities laws.
ARMOUR disclosed that it had commenced an internal investigation to review internal issues related to “the appropriateness of reporting Distributable Earnings and Net Interest Margin” in earnings releases and “the methods of calculating such measures”, “the Company’s considerations with respect to reviewing and evaluating its external manager”, and “certain of the internal controls over financial reporting and disclosure controls and procedures of the Company.” Then, ARMOUR announced that its Chief Financial Officer had been “removed,” on March 13, 2024. Following this news, ARMOUR’s stock price dropped over 3% on March 14, 2024.
If you suffered a loss on your ARMOUR Residential REIT, 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 The Bancorp, Inc. (NASDAQ: TBBK) concerning potential violations of the federal securities laws.
On March 21, 2024, Culper Research issued a report Thursday alleging issues at The Bancorp, Inc. Culper “believe[s] the Company has misrepresented the quality of its real estate bridge loan (“REBL”) portfolio.” Following this new shares of The Bancorp, Inc. dropped over 10%.
If you suffered a loss on your The Bancorp, 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 Apple Inc. (NASDAQ: AAPL) concerning potential violations of the federal securities laws.
On March 21, 2024, Apple was the subject of an Investor's Business Daily report published titled: "Apple Stock Drops As Justice Department Sues iPhone Maker." According to the report, "The lawsuit alleges that Apple's conduct makes it harder for Americans to switch smartphones, undermines innovation for apps, and imposes extraordinary costs on developers, businesses and consumers." following this news, shares of Apple dropped over 3% the same day.
If you suffered a loss on your Apple 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 Canada Goose Holdings Inc. (NYSE: GOOS) concerning potential violations of the federal securities laws.
On March 26, 2024, Canada Goose issued a press release announcing the "reduction of approximately 17% of corporate roles" as part of a transformation program, including, among other things, the departure of the Company's Chief Operating Officer. On this news, Canada Goose's stock price fell $0.81 per share, or 6.79%, to close at $11.12 per share on March 26, 2024.
If you suffered a loss on your Canada Goose 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 Ocugen, Inc. (NASDAQ: OCGN) concerning potential violations of the federal securities laws.
On April 1, 2024, after the market closed, Ocugen disclosed a material weakness in its internal controls over financial reporting related to accounting for estimated costs in collaboration arrangements. Following this news, shares dropped over 4% on April 2, 2024.
If you suffered a loss on your Ocugen 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 Zoetis Inc. (NYSE: ZTS) concerning potential violations of the federal securities laws.
The Wall Street Journal released a shocking report on April 12, 2024, detailing the alarming number of adverse events associated with the animal osteoarthritis pain medications Librela and Solensia, manufactured by Zoetis. Following this news, Zoetis's stock value dropped over 4%.
If you suffered a loss on your Zoetis 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, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired AST SpaceMobile, Inc. (NASDAQ: ASTS) securities.
If you suffered a loss on your AST SpaceMobile 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 14 2023 - Apr 01 2024
CASE DETAILS: The filed complaint alleges that AST SpaceMobile, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) production of the Company’s five first generation of commercial satellites, Block 1 BlueBird satellites, had been negatively impacted by two suppliers of key subsystems; (2) a result, the Company had not substantially completed the production of the Block 1 BlueBird satellites; (3) as a result, the Company’s five Block 1 BlueBird satellites were not on track to launch in the first quarter of 2024; 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 Sealed Air Corporation (NYSE: SEE) concerning potential violations of the federal securities laws.
Sealed Air Corp. dropped over 5% on April 3, 2024, after a presentation by Bleecker Street Research on the Company at the Sohn Investment Conference in New York City.
If you suffered a loss on your Sealed Air Corporation 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 UWM Holdings Corporation (NYSE: UWMC) concerning potential violations of the federal securities laws.
Hunterbrook Media published a report on April 2, 2024, alleging, among other things, that UWM gets almost all its business “from brokers who sent UWM more than 99% of their business” rather than shopping mortgages to competing lenders, causing borrowers to pay UWM “between hundreds of millions and billions more in closing costs than people whose brokers found them typical loans.” The same day, a racketeering consumer class action suit was filed against UWM, alleging that UWM engaged in a mortgage loan “steering enterprise” with “captive” brokers in violation of federal racketeering laws and other provisions. Following this news, UWM’s stock price dropped over 8%.
If you suffered a loss on your UWM Holdings Corporation 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 Spirit Airlines, Inc. (NYSE: SAVE) concerning potential violations of the federal securities laws.
Spirit issued a press release announcing the Company's first quarter 2024 financial results on May 6, 2024. Spirit reported operating revenues down 6.2% year-over-year, resulting in a loss of $1.46 per share. The Company also reported a 16.3% drop in fare revenue per segment, a 1.4% drop in non-ticket revenue, and a 0.1% drop in load factor. Spirit Chief Executive Officer Ted Christie said that "[t]he competitive environment remains challenging due to elevated capacity in many of the markets we serve." Following this news, Spirit's stock price dropped over 11%.
If you suffered a loss on your Spirit Airlines, 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 Forward Air Corporation (NASDAQ: FWRD) concerning potential violations of the federal securities laws.
Forward Air disclosed its financial performance for the first quarter of 2024, following the market closure on May 8, 2024. The company reported a non-GAAP EPS (Earnings Per Share) of -$0.64, missing estimates by $0.49. Additionally, the firm's revenue also fell short by $62.2 million, totaling $541.81 million instead of the projected figures. Following this news on May 9, 2024, shares of Forward Air dropped over 40% in pre-market trading.
If you suffered a loss on your Forward Air 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 Teradata Corporation (NYSE: TDC) securities.
If you suffered a loss on your Teradata 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 13 2023 - Feb 12 2024
CASE DETAILS: The filed complaint alleges that Teradata Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) under Teradata’s expanded business model, which involved engagement with additional customer business units and decisionmakers, transactions with the Company’s customers took longer to finalize; (ii) Teradata thus overstated its ability to close customer transactions within their intended timeframes under its expanded business model; (iii) Terada failed to timely close several customer transactions that it had factored into its outlook for 2023 Annual Recurring Revenue (ARR) growth; (iv) as a result, the Company was unlikely to meet its full year 2023 total and public cloud ARR expectations; 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 Lamb Weston Holdings, Inc. (NYSE: LW) securities.
If you suffered a loss on your Lamb Weston 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 25 2023 - Apr 03 2024
CASE DETAILS: According to the filed complaint, defendants made false and/or misleading statements and/or failed to disclose that: In truth, defendants knew of, or recklessly disregarded, problems associated with the Enterprise Resource Planning (ERP) system that would hinder its successful implementation. Despite those issues, Lamb Weston pushed ahead with its implementation of an ERP system that was not ready to go live, knowing that a premature roll-out would have a material negative impact on the Company’s business and operations. As a result, the statements concerning its business, operations, and prospects, including its financial guidance for fiscal 2024, lacked a reasonable factual basis. In addition, to the extent the Company purported to warn of risks regarding the negative impacts from an unsuccessful implementation of the ERP system, defendants omitted that such risks had already begun to materialize.
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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 2U, Inc. (NASDAQ: TWOU) securities.
If you suffered a loss on your 2U 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 - Feb 12 2024
CASE DETAILS: The filed complaint alleges that 2U, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was unable to sustain relationships with key universities and organizations; (2) as a result, certain degree programs and partnerships failed to materialize or were cancelled; (3) the Company’s transition to a platform company would lead to a decrease in full course equivalent enrollments; (4) accordingly, the Company had overstated the stability and/or longevity of its contractual agreements and/or revenue sources; 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 Roblox Corporation (NYSE: RBLX) securities.
If you suffered a loss on your Roblox 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 15 2023 - May 08 2024
CASE DETAILS: According to the complaint, on February 7, 2024, Roblox – the publisher of the Minecraft video game – issued its FY 2024 fiscal guidance. It was the first time Roblox issued a fiscal guidance to investors. Then, on May 9, 2023, Roblox hosted its quarterly earnings call and slashed its guidance for FY 2024. Management blamed changes in player engagement for the guidance reduction. Analysts expressed dismay at the rapidly reduced guidance, with one analyst noting Roblox made the cut “at one of its first real opportunities to do so.” Other analysts reported the reduced guidance “may raise concerns regarding management’s visibility into core bookings growth” and the Company “will be burdened by a management credibility issue over the near term.” Following the earnings call, RBLX shares fell $8.61, or 22% overnight.
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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 Gritstone bio, Inc. (NASDAQ: GRTS) securities.
If you suffered a loss on your Gritstone 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 09 2023 - Feb 29 2024
CASE DETAILS: The filed complaint alleges that Gritstone bio, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the Company would be unable to launch the Phase 2b CORAL Study, it's approved COVID-19 vaccine, in the timeframe it had represented to investors; (ii) the foregoing would impair Gritstone’s ability to obtain external funding in connection with the Study, thereby negatively affecting Gritstone’s ability to maintain its balance sheet and cash position; (iii) accordingly, Gritstone overstated its ability to successfully develop and commercialize its products; (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 Exscientia plc (NASDAQ: EXAI) securities.
If you suffered a loss on your Exscientia 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 23 2022 - Feb 12 2024
CASE DETAILS: The filed complaint alleges that Exscientia plc made materially false and/or misleading statements and/or failed to disclose that: (i) Andrew Hopkins, the Company's former Chief Executive Officer, had engaged in improper relationships with employees that were inconsistent with the Company’s standards and values; (ii) David Nicholson, former Chairman of the Company’s Board of Directors, had prior knowledge of Hopkins’s relationships and had improperly addressed Hopkins’s misconduct without consulting the Board of Directors; (iii) the Company’s maintenance and enforcement of its Code of Business Conduct and Ethics was inadequate to safeguard against the foregoing conduct; (iv) the foregoing failures subjected the Company to a heightened risk of disruptive leadership transitions and/or reputational harm; and (v) as a result, defendants’ public statements were materially false and/or 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 Humana Inc. (NYSE: HUM) securities.
If you suffered a loss on your Humana 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 24 2024
CASE DETAILS: According to the filed complaint, defendants made false and/or misleading statements and/or failed to disclose that: Specifically, defendants downplayed pressures on the Company’s adjusted earnings per share, resulting from increased medical costs associated with pent-up demand for healthcare procedures which contrary to the Company’s assurances, resulted in increased utilization rates and costs.
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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 Marinus Pharmaceuticals, Inc. (NASDAQ: MRNS) securities.
If you suffered a loss on your Marinus 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 17 2021 - May 07 2024
CASE DETAILS: The filed complaint alleges that Marinus Pharmaceuticals, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) defendants understated the risk of failure to meet the early-stopping criteria in the Randomized Therapy in Status Epilepticus Trial (RAISE); (2) defendants did not disclose that a possible consequence of failing to meet the early stopping criteria in the RAISE trial would be that Marinus would stop the separate Phase 3 RAISE II trial; 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 Rivian Automotive, Inc. (NASDAQ: RIVN) securities.
If you suffered a loss on your Rivian 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 12 2022 - Feb 21 2024
CASE DETAILS: The filed complaint alleges that Rivian Automotive, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Rivian had overstated demand for its products, as well as its ability to withstand negative, near-term macroeconomic impacts; (ii) accordingly, Rivian’s business was experiencing reduced demand and increased customer cancellations as a result of, inter alia, high interest rates; (iii) as a result, Rivian’s order bank had significantly deteriorated; (iv) all the foregoing was likely to, and did, negatively impact the Company’s anticipated earnings and vehicle production targets for 2024; 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 Hertz Global Holdings, Inc. (NASDAQ: HTZ) securities.
If you suffered a loss on your Hertz 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 2023 - Apr 24 2024
CASE DETAILS: The filed complaint alleges that Hertz Global Holdings, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Hertz had downplayed the financial impact of vehicle depreciation, and/or overstated its ability to track and manage vehicle depreciation; (ii) demand for Hertz’s EVs was not as strong as Defendants had led investors to believe; (iii) Hertz had too many vehicles, particularly EVs, in its fleet to remain profitable; (iv) as a result of all the foregoing, Hertz was likely to incur significant losses on the disposition of both its ICE vehicles and EVs; (v) all the foregoing was likely to, and did, have a significant negative impact on Hertz’s financial results; 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, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Li Auto Inc. (NASDAQ: LI) securities.
If you suffered a loss on your Li Auto 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: Feb 26 2024 - May 20 2024
CASE DETAILS: The filed complaint alleges that Li Auto Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Li Auto had overstated the demand for its vehicles and the efficacy of its operating strategy in launching its battery electric minivan, Li MEGA; (ii) accordingly, the Company was unlikely to meet its Q1 2024 vehicle deliveries estimate; (iii) the foregoing, once revealed, was likely to have a material negative impact on the Company’s financial condition; 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 Intel Corporation (NASDAQ: INTC) securities.
If you suffered a loss on your Intel 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: Jan 25 2024 - Apr 25 2024
CASE DETAILS: The filed complaint alleges that Intel Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) the growth of Intel Foundry Services was not indicative of revenue growth reportable under the Internal segment; (2) the Foundry experienced significant operating losses in 2023; (3) the Foundry experienced a decline in product profit driven by lower internal revenue; (4) as a result the Foundry model would not be a strong tailwind to the Company’s IFS strategy; 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 Fastly, Inc. (NYSE: FSLY) securities.
If you suffered a loss on your Fastly 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 - May 01 2024
CASE DETAILS: The filed complaint alleges that Fastly, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) contrary to its representations to investors, Fastly was in fact experiencing a significant deceleration in growth among its largest customers and was losing the increased market share it had gained as a result of the 2023 content delivery network consolidation trend; (ii) the foregoing issues were likely to have a material negative impact on the Company’s revenue growth; (iii) accordingly, the Company was unlikely to meet its own previously issued revenue guidance for FY 2024; (iv) as a result, the Company’s financial position and/or prospects were overstated; 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 Biogen Inc. (NASDAQ: BIIB) securities.
If you suffered a loss on your Biogen 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 03 2022 - Feb 13 2024
CASE DETAILS: The filed complaint alleges that Biogen Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Biogen had overstated its efforts to enhance its transparency, corporate governance, and compliance controls and procedures, as well as the efficacy of those controls and procedures; (ii) accordingly, Biogen maintained inadequate compliance controls and procedures in connection with its business operations in foreign countries; (iii) Biogen and/or its employees were engaged in unlawful or otherwise improper conduct in several foreign countries; (iv) the foregoing subjected the Company to a heightened risk of governmental and/or regulatory scrutiny and enforcement action, as well as significant legal, financial, and reputational harm; (v) Biogen overstated the strength of its Alzheimer’s disease related product portfolio, including the its joint efforts and success with pharmaceutical company, Eisai, in launching and providing access to Leqembi; (vi) Biogen also downplayed the negative impact that the Reata Acquisition would have on its FY 2023 non-GAAP diluted EPS; (vii) all the foregoing were likely to have a significant negative impact on Biogen’s 2023 results; and (viii) 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 Cambium Networks Corporation (NASDAQ: CMBM) securities.
If you suffered a loss on your Cambium Networks 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 2023 - Jan 18 2024
CASE DETAILS: The filed complaint alleges that Cambium Networks Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) there was a buildup of inventory in the Company’s distribution channels; (2) the Company and its distributors were reasonably likely to offer aggressive discounts to reduce the high channel inventories; (3) the Company’s revenue would decline sequentially until the excess channel inventory was sold through; (4) Cambium was likely to incur significant charges to writedown excess and obsolete inventory; (5) as a result of the foregoing, the Company’s fiscal 2023 revenue and earnings would be adversely affected; and (6) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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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 Vestis Corporation (NYSE: VSTS) securities.
If you suffered a loss on your Vestis 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 02 2023 - May 01 2024
CASE DETAILS: The filed complaint alleges that Vestis Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) Aramark, a company providing food service and facilities management, had historically underinvested in the business that became Vestis; (2) Vestis operated with outdated facilities and an underperforming sales force; (3) Vestis’s outdated facilities and underperforming sales force led to “service gaps” that had impeded the Company’s levers of growth and had resulted in customer attrition; and (4) as a result of the above, defendants’ statements about Vestis’s 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 Luna Innovations Incorporated (NASDAQ: LUNA) securities.
If you suffered a loss on your Luna Innovations 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 16 2022 - Apr 19 2024
CASE DETAILS: The filed complaint alleges that Luna Innovations Incorporated made materially false and/or misleading statements and/or failed to disclose that: (1) Luna Innovations financial statements from August 10, 2023 to the present included false figures as a result of improper revenue recognition; (2) as a result, Luna Innovations would need to restate its previously filed financial statements from August 10, 2023 to November 14, 2023; (3) Luna Innovations lacked adequate internal controls; 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 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 Shoals Technologies Group, Inc. (NASDAQ: SHLS) securities.
If you suffered a loss on your Shoals Technologies 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 purchasers of Shoals Class A common stock between January 27, 2021 and May 7, 2024 inclusive, including purchases directly in Shoals’ December 2022 secondary public offering of Class A common stock.
CASE DETAILS: The filed complaint alleges that Shoals Technologies Group, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Shoals did not deliver EBOS, electrical balance of system, products that met the highest levels of quality and reliability; (2) Shoals had received reports of exposed copper conduit in EBOS wire harnessess in a large number of solar fields and was aware that a significant portion of its wire harnesses had defects; (3) Shoals would have to incur between $60 million to $185 million in costs to remediate the wire shrinkback issue; and (4) Shoals had understated its cost of revenue by millions of dollars. As a result, defendants’ positive statements about the Company’s financial guidance, 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 AXT, Inc. (NASDAQ: AXTI) securities.
If you suffered a loss on your AXT, 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: Mar 24 2021 - Apr 03 2024
CASE DETAILS: The filed complaint alleges that AXT, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) AXT, Inc. overstated its property holdings; (2) the Company did not disclose that the attempted listing of an AXT, Inc. subsidiary in China had reportedly failed; (3) AXT, Inc. routinely engaged in environmental violations and unsafe business practices; (4) AXT, Inc.’s production declined in 2023; and (5) 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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