Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Akero Therapeutics, Inc. (NASDAQ: AKRO) securities.
If you suffered a loss on your Akero Therapeutics investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Sep 13 2022 - Oct 09 2023
CASE DETAILS: The filed complaint alleges that Akero Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) approximately 20% of the patients enrolled in the SYMMETRY study, a trial that purportedly tested efruxifermin ("EFX") in patients with nonalcoholic steatohepatitis (“NASH”) -induced cirrhosis, had cryptogenic cirrhosis and did not have definitive NASH at baseline; (ii) the cryptogenic cirrhotic patients included in the SYMMETRY study did not have biopsy-proven compensated cirrhosis due to definitive NASH; (iii) the results from the cryptogenic cirrhosis patients were to be excluded from the calculation of the NASH resolution secondary endpoints; (iv) Akero had introduced a confounding factor into the SYMMETRY study’s design, materially influencing the study’s potential results and increasing the risks that the study would fail to meet its primary endpoint; (v) the SYMMETRY study did not align with U.S. Food & Drug Administration guidance for testing a drug in treating NASH cirrhotics because Akero had not rule out potential causes of each patient’s cirrhosis other than NASH; and (vi) consequently, Akero had materially misrepresented the nature of the SYMMETRY trial, its usefulness in supporting any new drug application, the likelihood that the SYMMETRY trial would be successful as measured by its primary endpoint, and the likelihood that EFX would become a commercial treatment for NASH cirrhotics.
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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 Altimmune, Inc. (NASDAQ: ALT) securities.
If you suffered a loss on your Altimmune 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 - Apr 26 2024
CASE DETAILS: The filed complaint alleges that Altimmune, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Altimmune overstated the potential for its lead product candidate, pemvidutide, to stand out from competing glucagon-like peptide-1 agonists based on the drug’s efficacy and tolerability results observed in the MOMENTUM Trial; (ii) accordingly, the MOMENTUM Trial results were less significant to pemvidutide’s clinical, commercial, and competitive prospects than Defendants had led investors to believe; (iii) as a result of all the foregoing, defendants had overstated Altimmune’s prospects for finding a strategic partner to develop pemvidutide; 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 Equinix, Inc. (NASDAQ: EQIX) securities.
If you suffered a loss on your Equinix 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 03 2019 - Mar 24 2024
CASE DETAILS: The filed complaint alleges that Equinix, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Equinix manipulated its financials to reduce operational expenses and boost Adjusted Funds From Operations (“AFFO”); (2) Equinix oversold power capacity and did not warn of the risks associated with this practice; (3) Equinix lacked adequate internal controls; and (4) 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 Globe Life Inc. f/k/a Torchmark Corporation (NYSE: GL) securities.
If you suffered a loss on your Globe Life 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 2019 - Apr 10 2024
CASE DETAILS: According to the complaint, throughout the Class Period, Globe Life reported consistent premium revenue growth at the Company, led by consistent premium revenue growth at American Income Life Insurance Company (“AIL”). The Company also represented that its employees adhered to a code of conduct that expressly prohibited various forms of misconduct, and which required that all Globe Life employees comply with relevant laws and regulations, purportedly ensuring that the Company would maintain a workplace free from violence, threatening behavior, and illegal drugs. In truth, Globe Life was engaged in wide-spread insurance fraud, therefore inflating Globe Life’s financial results. In addition, Globe Life permitted a culture of unchecked sexual harassment, in direct contravention of the Company’s Code of Conduct. As a result of defendants’ misrepresentations, shares of Globe Life common stock traded at artificially inflated prices throughout 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 Malibu Boats, Inc. (NASDAQ: MBUU) securities.
If you suffered a loss on your Malibu Boats 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 04 2022 - Apr 11 2024
CASE DETAILS: The filed complaint alleges that Malibu Boats, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Malibu Boats had engaged in an “elaborate scheme to over manufacture and pump nearly $100 million of its highest priced, highest margin, slow moving boat inventory into fifteen Tommy’s dealerships”; (2) as a result, the Company artificially inflated Malibu’s sales performance, market share, and stock value; (3) the Company was withholding certain incentives and rebates from its dealers; (4) as a result of the foregoing, the Company faced substantial risk of litigation from one of its top dealers, Tommy’s; (5) the Company’s CEO departed due to his role in this scheme; 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 Autodesk, Inc. (NASDAQ: ADSK) securities.
If you suffered a loss on your Autodesk 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 01 2023 - Apr 16 2024
CASE DETAILS: The filed complaint alleges that Autodesk, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Autodesk, Inc. lacked adequate internal controls as a result of issues with its free cash flow and non-GAAP operating margin practices; 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 Compass Minerals International, Inc. (NYSE: CMP) securities.
If you suffered a loss on your Compass Minerals 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 - Mar 22 2024
CASE DETAILS: The filed complaint alleges that Compass Minerals International, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Compass Minerals overstated the likelihood that it would be awarded a renewed U.S. Forest Service contract for the use of its proprietary magnesium chloride-based aerial fire retardants for the 2024 fire season, as a result of safety issues presented by its fire retardant; (2) Compass Minerals materially overstated the extent to which testing had confirmed that its fire retardants were safe; 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 Lincoln National Corporation (NYSE: LNC) securities.
If you suffered a loss on your Lincoln National 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 04 2020 - Nov 02 2022
CASE DETAILS: The filed complaint alleges that Lincoln National Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was experiencing a decline in its variable universal life insurance business; (2) as a result, the goodwill associated with the life insurance business was overstated; (3) as a result, the Company’s policy lapse assumptions were outdated; (4) as a result, the Company’s reserves were overstated; (5) as a result, the Company’s reported financial results and financial statements were misstated; 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 GoodRx Holdings, Inc. (NASDAQ: GDRX) securities.
If you suffered a loss on your GoodRx 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 23 2022 - Nov 08 2022
CASE DETAILS: The filed complaint alleges that GoodRx Holdings, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) while Kroger accounted for less than 5% of the pharmacies accepting GoodRx discounts, Kroger was responsible for nearly 25% of GoodRx’s total prescription transactions revenue (the Company’s primary revenue stream); and (2) Kroger could unilaterally cease accepting GoodRx discounts, cutting off some or all of GoodRx’s revenues for purchases at Kroger’s pharmacies; 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 Sharecare, Inc. (NASDAQ: SHCR) securities.
If you suffered a loss on your Sharecare 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 10 2023 - Mar 28 2024
CASE DETAILS: The filed complaint alleges that Sharecare, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Sharecare lacked adequate internal controls 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 Perion Network Ltd. (NASDAQ: PERI) securities.
If you suffered a loss on your Perion Network 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 2021 - Apr 05 2024
CASE DETAILS: The filed complaint alleges that Perion Network Ltd. made materially false and/or misleading statements and/or failed to disclose that: (1) Perion’s search advertising business was not a reliable and significant growth driver and was in fact in decline; (2) Perion’s long-term relationship with Microsoft and search services agreement would not provide stability for Perion’s search advertising business; (3) there was an increased risk of Microsoft acting to unilaterally change its advertising pricing and mechanisms to the detriment of Perion while the search services agreement was in place; (4) Perion’s AI technology and Microsoft’s investment in ChatGPT, a form of generative AI, would not protect or grow Perion’s search advertising revenue; and (5) based on the foregoing, defendants lacked a reasonable basis for their positive statements about Perion’s search advertising business and related financial results, growth, and prospects.
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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 QuidelOrtho Corporation f/k/a Quidel Corporation (NASDAQ: QDEL) securities.
If you suffered a loss on your QuidelOrtho 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 18 2022 - Apr 01 2024
CASE DETAILS: The filed complaint alleges that QuidelOrtho Corporation f/k/a Quidel Corporation made materially false and/or misleading statements and/or failed to disclose that: (a) that QuidelOrtho sold more COVID-19 tests to its distributors and pharmacy chain customers than they could resell to healthcare providers and end customers; (b) that excess inventories of COVID-19 tests existed throughout the supply chain; (c) that, as a result of (a)-(b) above, QuidelOrtho’s distributors and pharmacy chain customers were poised to significantly reduce their COVID-19 test orders; (d) that undisclosed problems created a heightened risk that the new test called the savanna respiratory viral panel-4 test would experience a delayed commercial launch in the united states; (e) that, as a result of (a)-(d) above, defendants lacked a reasonable basis for their positive statements about QuidelOrtho’s business, financials, and growth trajectory.
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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 VinFast Auto Ltd. f/k/a Black Spade Acquisition Co. (NASDAQ: VFS) securities.
If you suffered a loss on your VinFast Auto Ltd. f/k/a Black Spade Acquisition Co. investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Aug 15 2023 - Jan 17 2024
CASE DETAILS: The filed complaint alleges that VinFast Auto Ltd. f/k/a Black Spade Acquisition Co. made materially false and/or misleading statements and/or failed to disclose that: (i) VinFast lacked sufficient capital to execute its purported growth strategy; (ii) VinFast would be unable to meet its 2023 delivery targets; (iii) accordingly, VinFast had overstated the strength of its business model and operational capabilities, as well as its post- merger business and/or financial prospects; and (iv) as a result, the offering documents and defendants’ public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.
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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 HireRight Holdings Corporation (NYSE: HRT) securities.
If you suffered a loss on your HireRight Holdings 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 28 2021 - Nov 30 -0001
CASE DETAILS: The filed complaint alleges that HireRight Holdings Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) HireRight was exposed to customers with significant employment and hiring risk and the Company derived greater revenue growth from existing client hiring than from new client hiring; (ii) as a result, the Company’s revenue growth was unsustainable to the extent that it relied on the stability of its current customers’ hiring and/or the profitability of securing new customers; (iii) accordingly, HireRight had overstated its post- initial public offering business and/or prospects; and (iv) as a result, defendants’ statements about the Company’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 The Chemours Company (NYSE: CC) securities.
If you suffered a loss on your The Chemours 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: Feb 10 2023 - Feb 28 2024
CASE DETAILS: The filed complaint alleges that The Chemours Company made materially false and/or misleading statements and/or failed to disclose that: (1) certain of the Company’s senior executive officers manipulated Free Cash Flow targets as a means to maximize additional cash and stock incentive compensation applicable to executive officers pursuant to the Company’s annual incentive plans and long-term incentive plans; (2) the Company’s accounting practices and procedures, including its internal control over financial reporting, were deficient; and (3) as a result, defendants’ statements about the Company’s business, operations, and prospects 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 Evolv Technologies Holdings, Inc. (NASDAQ: EVLV) securities.
If you suffered a loss on your Evolv 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: Jun 28 2021 - Mar 13 2024
CASE DETAILS: The filed complaint alleges that Evolv Technologies Holdings, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Evolv materially overstated the efficacy of its products; (2) the lack of effectiveness of Evolv’s products with regard to detecting knives and guns led to an increased risk of undetected weapons entering locations such as schools; (3) Evolv deceived the general public, its customers, and its investors regarding the effectiveness of its products; and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired bluebird bio, Inc. (NASDAQ: BLUE) securities.
If you suffered a loss on your bluebird bio 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 24 2023 - Dec 08 2023
CASE DETAILS: According to the complaint, on December 8, 2023, Blue announced that the Food and Drug Administration (FDA) approved its drug Lyfgenia (lovotibeglogene autotemcel), also known as lovo-cel for the treatment of sickle cell disease in patients ages 12 and older who have a history of vaso-occlusive events (VOEs). However, the Lyfgenia approval came with a black box warning for haematological malignancies after two patients developed AML during the clinical trials. Analysts noted that they did not expect the black box warning or the absence of a priority review voucher. Following this news, Blue’s stock price fell by $1.95 per share, or approximately 40% to close at $2.86 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 Plug Power Inc. (NASDAQ: PLUG) securities.
If you suffered a loss on your Plug Power 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: May 09 2023 - Jan 16 2024
CASE DETAILS: The filed complaint alleges that Plug Power Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Plug overstated its ability and/or efforts to mitigate the negative impacts that, among other things, supply chain constraints and material shortages could have or were having on the Company’s hydrogen business, as well as the sufficiency of its cash and capital to fund its operations; (ii) Plug continued to experience delays related to its green hydrogen production facility build-out plans, as well as in securing external funding sources to finance its growth plans; (iii) Plug downplayed the true scope and severity of all the foregoing when these issues were eventually revealed; (iv) as a result of all the foregoing, Plug also overstated the near-term prospects of its hydrogen production operations, as well as the viability of expanding those operations; 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 agilon health, inc. (NYSE: AGL) securities.
If you suffered a loss on your agilon health 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 09 2019 - Jan 09 2024
CASE DETAILS: The filed complaint alleges that agilon health, inc. made materially false and/or misleading statements and/or failed to disclose that: (1) touting the Company’s purported visibility into utilization trends and medical costs; (2) failing to disclose increased medical costs that Agilon had incurred prior to and during the class period due to higher utilization of healthcare by MA patients; (3) falsely stating that its incurred-but-not-reported reserve was adequate; (4) making false and misleading statements about the effectiveness of its business model; (5) issuing overly optimistic financial guidance; and (6) issuing risk disclosures that were materially false and misleading because they characterized adverse facts that had already materialized as mere possibilities.
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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 SSR Mining Inc. (NASDAQ: SSRM) securities.
If you suffered a loss on your SSR Mining 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 2022 - Feb 27 2024
CASE DETAILS: The filed complaint alleges that SSR Mining Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) defendants materially overstated SSR Mining’s commitment to safety and the efficacy of its safety measures; (2) SSR Mining engaged in unsafe mining practices which were reasonably likely to result in a mining disaster; 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 B. Riley Financial, Inc. (NASDAQ: RILY) securities.
If you suffered a loss on your B. Riley 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 - Nov 09 2023
CASE DETAILS: The filed complaint alleges that B. Riley Financial, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Brian Kahn, a client of the Company, had been credibly implicated in a conspiracy to defraud investors of millions of dollars; (2) in spite of this involvement, B. Riley continued to finance the transaction enabling Kahn and others to take Franchise Group, Inc. private through complex arrangements; (3) the foregoing was reasonably likely to draw regulatory scrutiny to B. Riley; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Innoviz Technologies Ltd. (NASDAQ: INVZ) securities.
If you suffered a loss on your Innoviz 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: Apr 21 2021 - Feb 28 2023
CASE DETAILS: The filed complaint alleges that Innoviz Technologies Ltd. made materially false and/or misleading statements and/or failed to disclose that: (i) Innoviz had overstated the benefits that the Company was likely to derive from its purported contracts, partnerships, and/or collaborations with automotive companies; (ii) as a result, the Company was unlikely to achieve the level of profitability that defendants had represented to investors; (iii) accordingly, Innoviz had overstated its business and/or financial prospects; 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 Next Bridge Hydrocarbons, Inc. (: 000) securities.
If you suffered a loss on your Next Bridge Hydrocarbons, Inc. investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: This lawsuit is on behalf of all persons or entities that acquired shares of Next Bridge Hydrocarbons, Inc. in connection with the Company’s spin-off from Meta Materials, Inc. on or around December 14, 2022.
CASE DETAILS:
The complaint alleges that NBH filed a registration statement in connection with its spin-off from Meta Materials that contained false and/or materially misleading statements. The statements at issue concern the value of the Company’s oil and gas assets and NBH’s transactions with related parties. The complaint alleges that these false and/or materially misleading statements violated the Securities Act of 1933 and, consequently, damaged shareholders who received NBH shares in conjunction with the spin-off.
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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 Anavex Life Sciences Corporation (NASDAQ: AVXL) securities.
If you suffered a loss on your Anavex Life Sciences 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 01 2022 - Jan 01 2024
CASE DETAILS: The complaint alleges that on December 2, 2022, AVXL announced positive topline results from its Phase 2b/3 ANAVEX®2-73-AD-004 clinical trial of oral ANAVEX®2-73 (blarcamesine) for the treatment of mild cognitive impairment (MCI) due to Alzheimer’s disease (AD) and mild AD (collectively known as early AD). ANAVEX®2-73 met the primary endpoints ADAS-Cog1 and ADCS-ADL2 and key secondary endpoint CDR-SB3 with statistically significant results. An analyst questioned the Company’s claim noting “there are several key factors that point us to believe the data is provocative, but not yet compelling, given the choice of statistical analyses and other trial design/conduct ‘complexifiers’.” Additionally, a biotech journalist commented on AVXL’s findings stating “[w]hat sets Anavex apart from all the other biotechs on my radar screen is its habit of shifting the goalposts on clinical trials…Anavex announced “positive” outcomes from studies of its drug called blarcamesine — except the results were derived from efficacy endpoints that were not part of the original study designs.” Following this news, AVXL’s stock price fell by $2.47 per share, or approximately 20% to close at $9.58. Further on January 3, 2024, AVXL announced that results from its Phase 2/3 EXCELLENCE clinical trial for its candidate ANAVEX®2-73 in pediatric patients with Rett syndrome failed to show statistical significance towards its primary endpoints. Biotech analysts commented that “the negative study outcome was never in doubt…Anavex is a serial dissembler of clinical trial results.” Following this news, AVXL’s stock price fell by $3.26 per share, or approximately 35%.
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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 iRobot Corporation (NASDAQ: IRBT) securities.
If you suffered a loss on your iRobot 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 05 2022 - Jan 26 2024
CASE DETAILS: The filed complaint alleges that iRobot Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) the August 2022 merger of the Company and Amazon, would place Amazon in a sufficiently dominant position in the market for robot vacuum cleaners that U.S. and European antitrust regulators were unlikely to approve the merger; (ii) iRobot had conducted inadequate due diligence into the merger and/or ignored significant risks weighing against the likelihood of regulatory approval; (iii) as a result of all the foregoing, iRobot overstated the likelihood for successfully completing the merger; 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 Ventyx Biosciences, Inc. (NASDAQ: VTYX) securities.
If you suffered a loss on your Ventyx 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 21 2021 - Nov 06 2023
CASE DETAILS: The filed complaint alleges that Ventyx Biosciences, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) VTX958, the Company's lead clinical product candidate, was less effective in treating psoriasis than defendants had led investors to believe; (ii) as a result, VTX958’s clinical and/or commercial prospects were overstated; (iii) accordingly, the Company had misrepresented its ability to develop and commercialize effective product candidates; (iv) Ventyx’s business prospects following the initial public offering were thus inflated; 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 Snowflake Inc. (NYSE: SNOW) securities.
If you suffered a loss on your Snowflake 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 16 2020 - Mar 02 2022
CASE DETAILS: The filed complaint alleges that Snowflake Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) Snowflake had systematically oversold capacity to customers which created a misleading appearance of the demand for Snowflake’s products and services; (b) Snowflake had provided significant discounts to its customers prior to the Initial Public Offering (IPO) that temporarily boosted sales but would not be sustainable after the IPO and/or necessitate platform efficiency adjustments that negatively impacted client consumption and Snowflake’s revenue and profit margins; (c) as a result of (a)-(b) above, Snowflake’s customers were poised to roll over a material amount of unused credits (and thereby cannibalize future sales) at the end of their contracts’ terms or to refuse to renew their contracts at prior consumption levels or at all; (d) as a result (a)-(c) above, Snowflake’s product revenue and remaining performance obligations had been artificially inflated leading up to and during the class period; and (e) as a result of (a)-(d) above, defendants lacked a reasonable basis for their positive statements about Snowflake’s business, financials, and growth trajectory.
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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 Children's Place, Inc. (NASDAQ: PLCE) securities.
If you suffered a loss on your The Children's Place 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 16 2023 - Feb 08 2024
CASE DETAILS: The filed complaint alleges that The Children's Place, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was engaged in aggressive promotions; (2) as a result, the Company’s inventory values were overstated; (3) the foregoing was reasonably likely to have an adverse impact on fiscal 2023 financial results; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Nextdoor Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II (NYSE: KIND) securities.
If you suffered a loss on your Nextdoor Holdings 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 06 2021 - Nov 08 2022
CASE DETAILS: The filed complaint alleges that Nextdoor Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II made materially false and/or misleading statements and/or failed to disclose that: (a) Nextdoor’s financial results prior to the November 2021 merger with Khosla Ventures Acquisition Co. II, had been temporarily inflated by the ephemeral effects of the COVID-19 pandemic, which had pulled forward demand for Nextdoor’s platform and cannibalized future advertising revenue growth; (b) rather than being sustained, such growth trends had already begun reversing at the start of the class period; (c) Nextdoor’s total addressable market was materially smaller than the 312 million households represented to investors; (d) by the start of the class period, Nextdoor’s most important market – the U.S. market – was already substantially saturated, impairing the Company’s ability to monetize users and increase its average revenue per weekly active user, or U.S. weekly active user metrics; (e) as a result of (a)-(d) above, Nextdoor’s revenue guidance for fiscal year 2022 had no reasonable basis in fact and the Company was tracking tens of millions of dollars below the revenue trajectory provided to investors.
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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 Palo Alto Networks Inc. (NASDAQ: PANW) securities.
If you suffered a loss on your Palo Alto 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: Aug 18 2023 - Feb 20 2024
CASE DETAILS: The filed complaint alleges that Palo Alto Networks Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s consolidation and platformization initiatives were not driving increased market share to a significant degree; (2) the Company would need to ramp up platformization and free product offerings to entice customers to adopt more of their platforms; (3) the Company’s high growth in billings was not sustainable; (4) new AI offerings were not facilitating greater platformization and consolidation; and (5) based on the foregoing, defendants lacked a reasonable basis for their positive statements about customer demand, billings, and platformization, as well as related financial results, growth, and prospects.
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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 Fox Factory Holding Corp. (NASDAQ: FOXF) securities.
If you suffered a loss on your Fox Factory investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: May 06 2021 - Nov 02 2023
CASE DETAILS: According to the filed complaint, defendants made misleading statements and omissions regarding the Company’s business, financial condition, and prospects, particularly with regard to demand for Fox Factory’s products and inventory levels. Specifically, the complaint alleges that on November 2, 2023, after the markets closed, Fox Factory filed a Form 8-K with the SEC, reporting that its net sales for the third quarter of fiscal year 2023 decreased 19.1% year-over-year due to "higher levels of inventory across various channels." In addition, Fox Factory cut its full-year sales guidance from between $1.67B and $1.70B to between $1.45B and $1.47B, citing continued inventory destocking in its Specialty Sports Group segment. On this news, the price of Fox Factory's common stock declined $22.60, or 37.34%, to close at $60.53 per share on November 3, 2023.
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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 Lantronix, Inc. (NASDAQ: LTRX) securities.
If you suffered a loss on your Lantronix, 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: May 11 2023 - Feb 08 2024
CASE DETAILS: The filed complaint alleges that Lantronix, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Lantronix overstated demand and/or its visibility into demand for its IoT products, network-enabled devices, excluding traditional computers like laptops and servers; (ii) Lantronix’s customers were reducing elevated levels of inventory of IoT products, thereby causing a general slowdown in the Company’s business; (iii) certain of Lantronix’s embedded IoT revenues expected from a customer design win were delayed to the next fiscal year; (iv) as a result of all the foregoing, Lantronix anticipated lower sales for its embedded IoT solutions for fiscal year 2024; (v) accordingly, Lantronix was unlikely to meet its own previously issued guidance for fiscal year 2024; and (vi) as a result, the Company’s 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 DICK's Sporting Goods, Inc. (NYSE: DKS) securities.
If you suffered a loss on your DICK's Sporting Goods 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 25 2022 - Aug 21 2023
CASE DETAILS: The filed complaint alleges that DICK's Sporting Goods, Inc. made materially false and/or misleading statements and/or failed to disclose that: a) demand for products in Dicks Sporting Good’s outdoor segment was slowing faster than defendants represented, resulting in excess inventory; (b) the “structural changes” that defendants repeatedly touted, including differentiated products, improved pricing technology, and more efficient clearance channels, did not allow the Company to manage its excess inventory without hurting the Company’s profitability; (c) the need to liquidate excess inventory, including in the outdoor segment, would have a materially negative effect on the Company’s profitability; and (d) as a result of (a)-(c) above, defendants’ statements about the Company’s business condition and prospects were materially false and misleading when made.
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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 Innodata Inc. (NASDAQ: INOD) securities.
If you suffered a loss on your Innodata 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 09 2019 - Feb 14 2024
CASE DETAILS: The filed complaint alleges that Innodata Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Innodata did not have a viable AI technology; (2) its Goldengate AI platform, the centerpiece of Innodata’s reported AI technology, is a rudimentary software developed by just a handful of employees; (3) it was not going to utilize AI to any significant degree for new Silicon Valley contracts; (4) it was not effectively investing in research and development for AI; and (5) based on the foregoing, defendants lacked a reasonable basis for their positive statements about Innodata’s AI business and development and related financial results, growth, and prospects.
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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 Sunnova Energy International Inc. (NYSE: NOVA) securities.
If you suffered a loss on your Sunnova 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 25 2020 - Dec 07 2023
CASE DETAILS: The filed complaint alleges that Sunnova Energy International Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Sunnova routinely engaged in predatory business practices against disadvantaged homeowners and communities, the same groups that Project Hestia, a new solar loan channel, was purportedly intended to benefit; (ii) the foregoing conduct subjected the company to a heightened risk of regulatory and/or governmental scrutiny, as well as significant reputational and/or financial harm; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired InMode Ltd. (NASDAQ: INMD) securities.
If you suffered a loss on your InMode 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 04 2021 - Oct 12 2023
CASE DETAILS: The filed complaint alleges that InMode Ltd. made materially false and/or misleading statements and/or failed to disclose that: (i) InMode heavily discounts almost every device it sells; (ii) demand for InMode’s products was driven by InMode’s willingness to discount its products; (iii) InMode violated U.S. Food and Drug Administration (“FDA”) regulations by engaging in off-label marketing and promoting products for treatment of indications for which they lack FDA approval; and (iv) InMode violated FDA regulations by failing to timely report injuries caused by its devices.
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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 Amplitude, Inc. (NASDAQ: AMPL) securities.
If you suffered a loss on your Amplitude 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 21 2021 - Feb 16 2022
CASE DETAILS: The filed complaint alleges that Amplitude, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) Amplitude’s land-and-expand strategy was years away from significantly accelerating revenues among its newer client cohorts; (b) the rapid acceleration in the Company’s 2Q21 results resulted from the ephemeral effects of the COVID-19 pandemic which had not continued by the start of the class period, as Amplitude clients were expanding at a slower pace; and (c) as a result of (a)-(b) above, Amplitude’s business, operations, financial results, and prospects were materially worse than represented to investors 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 Hut 8 Corp. (NASDAQ: HUT) securities.
If you suffered a loss on your Hut 8 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 09 2023 - Jan 18 2024
CASE DETAILS: The filed complaint alleges that Hut 8 Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) one of the largest shareholders in U.S. Data Mining Group, Inc. d/b/a US Bitcoin Corp. (“USBTC”), one of the companies that merged to create Hub 8, is an undisclosed related party; (2) one of USBTC’s core assets has historically failed to provide energy and high-speed internet; (3) the profitability of certain USBTC assets were overstated; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired New York Community Bancorp, Inc. (NYSE: NYCB) securities.
If you suffered a loss on your New York Community Bancorp 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 01 2023 - Jan 30 2024
CASE DETAILS: The filed complaint alleges that New York Community Bancorp, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was experiencing higher net charge-offs and deterioration in its office portfolio; (2) as a result, NYCB was reasonably likely to incur higher loan losses; (3) as a result of the foregoing and NYCB’s status as Category IV bank, the Company was reasonably likely to increase its allowance for credit losses; (4) the Company’s financial results would be adversely affected; (5) to preserve capital, the Company would reduce quarterly common dividend to $0.05 per common share; 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 iRhythm Technologies, Inc. (NASDAQ: IRTC) securities.
If you suffered a loss on your iRhythm 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: Jan 11 2022 - May 30 2023
CASE DETAILS: According to the lawsuit, defendants falsely represented to investors that one of iRhythm’s main products, the Zio AT monitor, was a real-time heart monitor intended for high-risk patients. Specifically, defendants repeatedly touted the potential growth for the Zio AT as an innovative product that had only just begun to penetrate the market for real-time monitoring, which investors looked upon favorably given the premium selling price associated with devices approved for high-risk patients. As a result of these misrepresentations, the price of iRhythm common stock traded at artificially inflated prices throughout 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 Cassava Sciences, Inc. (NASDAQ: SAVA) securities.
If you suffered a loss on your Cassava 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 18 2022 - Oct 12 2023
CASE DETAILS: The filed complaint alleges that Cassava Sciences, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the Company failed to maintain adequate and effective data management controls and procedures related to its drug research programs; (ii) as a result, the data published in support of the Company’s lead therapeutic drug candidate, PTI-125 (or “simufilam”), were susceptible to manipulation to overstate the drug’s effectiveness; (iii) accordingly, Cassava had misrepresented the efficacy of its research programs and the clinical and/or commercial prospects of simufilam; (iv) all of the foregoing, once revealed, was likely to subject the Company to significant financial and/or reputational harm; 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 GrafTech International Ltd. (NYSE: EAF) securities.
If you suffered a loss on your GrafTech 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 08 2019 - Aug 03 2023
CASE DETAILS: The filed complaint alleges that GrafTech International Ltd. made materially false and/or misleading statements and/or failed to disclose that: (a) GrafTech’s manufacturing operations in Monterrey, Mexico had for decades chronically contaminated neighboring communities with harmful carcinogenic gasses and particulate matter; (b) GrafTech had signed agreements with local authorities committing itself to improving the environmental performance of its Monterrey facility, but repeatedly failed to honor these commitments; (c) GrafTech had been repeatedly warned over an approximately 30-year period regarding its wanton disregard for the environment and health and well-being of people near its operations in Monterrey, Mexico; (d) GrafTech’s operations in Monterrey, Mexico were not in compliance with applicable environmental laws and regulations; (e) the Company had failed to adequately remediate the environmental problems caused by the Monterrey facility following the 2019 administrative proceeding conducted by the Department of Sustainable Development of the State of Nuevo León; (f) the government of Apodaca had sought intervention from the State of Nuevo León authorities to curtail and prevent the adverse environmental impacts and noncompliance with environmental laws and regulations caused by the Monterrey facility; (g) GrafTech’s purported cost leadership was achieved in substantial part by failing to implement appropriate and effective environmental safeguards at its manufacturing facility in Monterrey, Mexico; (h) GrafTech’s capital expenditures and/or related operational projects were woefully insufficient to adequately address the harm that the Company’s operations in Monterrey, Mexico had inflicted on the environment and people within the neighboring communities; (i) as a result of (a)-(h), GrafTech was acutely exposed to undisclosed material risks that the Company’s manufacturing operations in Monterrey, Mexico would be severely disrupted by government action or enforcement; and (j) as a result of (a)-(i), GrafTech was acutely exposed to undisclosed material risks that its supplies of pin stock and graphite electrodes would be withdrawn and/or materially diminished, thereby materially harming the Company’s business, operations, reputation, and financial results.
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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 Maplebear Inc. d/b/a Instacart (NASDAQ: CART) securities.
If you suffered a loss on your Maplebear 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 a class consisting of all persons and entities other than defendants that purchased or otherwise acquired: (a) Instacart common stock pursuant and/or traceable to offering documents issued in connection with the Company’s initial public offering conducted on or about September 19, 2023; and/or (b) Instacart securities between September 19, 2023 and October 1, 2023, both dates inclusive.
CASE DETAILS: The filed complaint alleges that Maplebear Inc. d/b/a Instacart made materially false and/or misleading statements and/or failed to disclose that: (i) Instacart had overstated the extent to which online grocery shopping and delivery habits among consumers were accelerating; (ii) Instacart had downplayed the extent of the competition that it faced in the online grocery shopping and delivery market; (iii) accordingly, defendants overstated the Company’s post-initial public offering growth, business, and financial prospects; 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 ChargePoint Holdings, Inc. (NYSE: CHPT) securities.
If you suffered a loss on your ChargePoint 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 2021 - Nov 16 2023
CASE DETAILS: The filed complaint alleges that ChargePoint Holdings, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was experiencing higher component costs and supply overruns for first-generation DC charging products; (2) as a result, the Company was likely to incur impairment charges; (3) as a result of the foregoing, the Company’s profitability would be adversely impacted; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Archer-Daniels-Midland Company (NYSE: ADM) securities.
If you suffered a loss on your ADM investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Apr 30 2020 - Jan 22 2024
CASE DETAILS: According to the filed complaint, defendants made false and/or misleading statements and/or failed to disclose material facts about the performance and prospects of ADM’s Nutrition segment and its accounting practices. Specifically, defendants made positive statements about the Nutrition segment as a future profit-driver for the Company, with the ability to capitalize on healthier eating trends and rising consumer demand for natural ingredients and flavoring. Defendants also created the impression that the Nutrition segment’s growth would provide more diversification and earnings stability for ADM.
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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 British American Tobacco p.l.c. (NYSE: BTI) securities.
If you suffered a loss on your British American Tobacco 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 2023 - Dec 06 2023
CASE DETAILS: The filed complaint alleges that British American Tobacco p.l.c. made materially false and/or misleading statements and/or failed to disclose that: (1) British American Tobacco materially understated the risks and potential likelihood of an impairment to its Premium American Cigarette Brands as a result of various longstanding headwinds 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 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 Evolution AB (publ) (OTC: EVVTY) securities.
If you suffered a loss on your Evolution AB 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 14 2019 - Oct 25 2023
CASE DETAILS: The filed complaint alleges that Evolution AB (publ) made materially false and/or misleading statements and/or failed to disclose that: (1) in “allowing play” from certain jurisdictions, multiple customers of Evolution AB’s were, or were deemed by regulators to be, unlicensed and/or in breach of the laws of those jurisdictions; and (2) defendants’ statements were false, as they misrepresented the extent of Evolution AB’s involvement with regulatorily noncompliant customers. 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 General Motors Company (NYSE: GM) securities.
If you suffered a loss on your General Motors 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 10 2021 - Oct 26 2023
CASE DETAILS: The filed complaint alleges that General Motors Company made materially false and/or misleading statements and/or failed to disclose that:
(1) GM downplayed concerns with its vehicles’ airbags and the need to record additional warranty accruals for related product recalls; (ii) GM overstated the extent and efficacy of its efforts to analyze defects in its vehicles’ airbag inflators; (iii) Cruise’s AVs and/or AV technology were less safe and well-developed than defendants had led investors, regulators, and the general public to believe; (iv) accordingly, regulatory approval of Cruise’s AV products was unsustainable and the prospects for widespread regulatory approval and adoption of Cruise’s AV products were overstated; (v) all the foregoing subjected GM to an increased risk of governmental and/or regulatory scrutiny and enforcement action, significant legal liabilities, product recalls, and reputational harm; and (vi) 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 BioVie Inc. (NASDAQ: BIVI) securities.
If you suffered a loss on your BioVie 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 05 2021 - Nov 29 2023
CASE DETAILS: The filed complaint alleges that BioVie Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) BioVie was not conducting proper oversight of its Phase 3 clinical trial; (2) the COVID-19 pandemic significantly and negatively impacted the Company's ability to adequately conduct proper oversight of the Phase 3 clinical trial; (3) due to lack of proper oversight and reliance on contract research organizations, the data from defendants' Phase 3 clinical trial faced a greater risk of being unreliable and that the majority of patients would have to be excluded from the clinical trial; (4) as a result of the significant exclusions from the trial results, the Phase 3 clinical trial would fail to meet its primary endpoints; and (5) statements about BioVie's business, operations, prospects, and compliance with current good clinical practices were materially false and/or 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 AlloVir, Inc. (NASDAQ: ALVR) securities.
If you suffered a loss on your AlloVir 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 22 2022 - Dec 21 2023
CASE DETAILS: The filed complaint alleges that AlloVir, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the posoleucel Phase 3 Studies were unlikely to meet their primary endpoints; (ii) as a result, it was likely that the Company would ultimately discontinue the posoleucel Phase 3 studies; (iii) accordingly, AlloVir overstated the efficacy and clinical and/or commercial prospects of posoleucel; 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 Mobileye Global Inc. (NASDAQ: MBLY) securities.
If you suffered a loss on your Mobileye Global investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Jan 16 2023 - Jan 03 2024
CASE DETAILS: The filed complaint alleges that Mobileye Global Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) to avoid the shortages experienced amid supply chain constraints in 2021 and 2022, the Company’s Tier 1 customers had purchased inventory in excess of demand during fiscal 2023; (2) as a result, the Company’s customers had excess inventory on hand, including approximately 6-7 million units of EyeQ SoCs; (3) due to the build-up of inventory, there was a significant risk that the Tier 1 customers would buy less product, thus adversely impacting the Company’s fiscal 2024 financial results; and (4) as a result of the foregoing, defendant’s 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 BioNTech SE (NASDAQ: BNTX) securities.
If you suffered a loss on your BioNTech 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 30 2022 - Oct 13 2023
CASE DETAILS: The filed complaint alleges that BioNTech SE made materially false and/or misleading statements and/or failed to disclose that: (i) BioNTech overstated demand for and/or the commercial prospects of Comirnaty, the COVID-19 vaccine developed by the Company in collaboration with Pfizer ; (ii) the Company and/or Pfizer had accumulated excess inventory of raw materials for Comirnaty, as well as COVID-19 vaccine doses adapted to other, non-XBB.1.5 variants that were produced at risk; (iii) accordingly, BioNTech was at an increased risk of recording significant inventory write-offs and other charges related to Comirnaty; and (iv) 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 Dada Nexus Limited (NASDAQ: DADA) securities.
If you suffered a loss on your Dada Nexus 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 11 2023 - Jan 08 2024
CASE DETAILS: The filed complaint alleges that Dada Nexus Limited made materially false and/or misleading statements and/or failed to disclose that: (1) Dada revenues from online advertising, marketing services, and operations and support costs were materially overstated; (2) as a result, Dada would need to conduct an independent review to ascertain the financial impact and the scope of suspicious practices that led to overstated revenues and costs; and (3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Assertio Holdings, Inc. (NASDAQ: ASRT) securities.
If you suffered a loss on your Assertio Holdings investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Mar 29 2023 - Nov 08 2023
CASE DETAILS: The filed complaint alleges that Assertio Holdings, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the Company’s reliance on Indocin products to boost its net income was unsustainable given the risk of generic competition; (ii) Assertio's acquisition of Spectrum Pharmaceuticals, Inc. and Spectrum’s injection asset, Rolvedon, was less valuable than Assertio had represented to investors; (iii) accordingly, Assertio had overstated the positive impact the sale of Indocin products and the acquisition were likely to have on the Company’s profitability; and (iv) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
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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, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired VNET Group, Inc. (NASDAQ: VNET) securities.
If you suffered a loss on your VNET 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 08 2022 - Feb 15 2023
CASE DETAILS: The filed complaint alleges that VNET Group, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) GenTao, which is owned by VNET, was experiencing financial difficulties and was at risk of defaulting on the facility agreement that VNET's co-founder, Josh Sheng Chen had entered into with Bold Ally; (2) as a result, there was a substantial likelihood that Bold Ally would acquire Sheng Chen’s significant ownership stake in VNET; (3) to restore Sheng Chen’s voting interest in VNET, the Company would issue newly created shares to Sheng Chen, diluting investors’ interest; (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Paycom Software, Inc. (NYSE: PAYC) securities.
If you suffered a loss on your Paycom 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 investors who purchased or otherwise acquired publicly traded Paycom securities and/or sold publicly traded put options of Paycom between February 9, 2022 and November 1, 2023, inclusive.
CASE DETAILS: The filed complaint alleges that Paycom Software, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Paycom’s Beti product led to cannibalization of the Company’s services and revenues; (2) Paycom knew but failed to disclose that Beti was leading to cannibalization of the Company’s services and revenues, and failed to warn of cannibalization as a general risk; (3) as a result of cannibalization of revenue, Paycom missed its expected 3Q23 revenue and would have to revise its expected 2023 Revenues; (4) the cannibalization issue resulted in projected 2024 year-over-year revenue growth to between 10% and 12%, well below expectations; 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 relevant times.
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