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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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Inspire Medical Systems, Inc. (NYSE: INSP) securities.
If you suffered a loss on your Inspire Medical investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: May 03 2023 - Nov 07 2023
CASE DETAILS: The filed complaint alleges that Inspire Medical Systems, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) despite the Acceleration Program, customers were encountering challenges with the prior authorization submission process, including with the scheduling of appointments; (2) a slowdown in prior authorization submissions arising from these challenges led to a shortfall of hundreds of procedures to implant the Company’s OSA device; (3) 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 Driven Brands Holdings Inc. (NASDAQ: DRVN) securities.
If you suffered a loss on your Driven 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 27 2021 - Aug 01 2023
CASE DETAILS: According to the filed complaint, defendants repeatedly touted Driven’s ability to execute and integrate acquisitions as a “core strength,” and assured investors that the Company had made “significant progress” integrating the auto glass businesses it had acquired. Driven also represented that the large scale of its car wash business served as a “competitive moat” that would preserve Driven’s competitive position. While Driven acknowledged some “softness” in customer demand for its car wash business segment, the Company downplayed that issue and pointed investors to the growth of its car wash subscriptions, which Driven labeled as the “Holy Grail” in the car wash business.
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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 Outlook Therapeutics, Inc. (NASDAQ: OTLK) securities.
If you suffered a loss on your Outlook 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 03 2021 - Aug 29 2023
CASE DETAILS: The filed complaint alleges that Outlook Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) there was a lack of substantial evidence supporting the Company's lead product candidate, ONS-5010, as a treatment for wet age-related macular degeneration; (ii) Outlook and/or its manufacturing partner had deficient chemistry manufacturing and controls and other manufacturing issues for ONS-5010, which remained unresolved at the time the ONS-5010 biologics license application (“BLA”) was resubmitted to the U.S. Food and Drug Administration ("FDA"); (iii) as a result of all the foregoing, the FDA was unlikely to approve the ONS-5010 BLA in its present form; (iv) accordingly, ONS-5010’s regulatory and commercial 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 Illumina, Inc. (NASDAQ: ILMN) securities.
If you suffered a loss on your Illumina 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 2020 - Nov 09 2023
CASE DETAILS: The filed complaint alleges that Illumina, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) certain of the Company’s insiders had personal financial motives for acquiring GRAIL, Inc.; (2) contrary to Illumina’s attempts to discount Icahn’s criticism, Icahn had accurately concluded that insiders’ interests did not align with the Company’s best interests; and (3) 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 SolarEdge Technologies, Inc. (NASDAQ: SEDG) securities.
If you suffered a loss on your SolarEdge investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Feb 22 2022 - Oct 19 2023
CASE DETAILS: The filed complaint alleges that SolarEdge Technologies, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s distribution channels in Europe had higher than optimal inventory levels; (2) as a result, the Company was experiencing substantial cancellations and pushouts of existing backlog from its European distributors; (3) as a result, the Company’s backlog and guidance was overstated; 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 ON Semiconductor Corporation (NASDAQ: ON) securities.
If you suffered a loss on your onsemi 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 purchased or otherwise acquired shares of Onsemi common stock between May 1, 2023, and October 27, 2023, inclusive.
CASE DETAILS: The filed complaint alleges that ON Semiconductor Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) contrary to representations made, revenues from billions of dollars in reported long-term supply agreements (“LTSAs”) were not “committed”, “locked in,” or effectively certain to be obtained by the Company; (2) the Company could and would abrogate the LTSAs at a customer’s request; (3) in tough macroeconomic conditions, LTSAs did not provide “predictable” and “sustainable” performance to drive the Company’s growth; (4) LTSAs would be modified or eliminated as conditions changed; (5) defendants did not have “good visibility” into customer demand, and in fact, demand could be reduced on short notice, even where LTSAs were in effect; and (6) as a result of the foregoing, defendants’ positive statements about Onsemi’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 Mercury Systems, Inc. (NASDAQ: MRCY) securities.
If you suffered a loss on your Mercury Systems 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 persons and entities that purchased or otherwise acquired the common stock of Mercury between December 7, 2020 and June 23, 2023, inclusive.
CASE DETAILS: The filed complaint alleges that Mercury Systems, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Mercury Systems’ serial acquirer strategy was not working and Mercury Systems was using improper revenue recognition practices such as changing to long-term contracts to mask deteriorating organic growth; (ii) Mercury Systems’ acquisition of Physical Optics Corporation (“POC”) caused POC to lose its small business accreditation, which prevented POC from winning contracts that made up a large portion of its historical business; (iii) Mercury Systems had at least twenty programs that were suffering and not performing well; and (iv) Mercury Systems’ initiative to increase margins was not working and was in fact cutting into margins.
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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 Estee Lauder Companies Inc. (NYSE: EL) securities.
If you suffered a loss on your Estee 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 - May 02 2023
CASE DETAILS: According to the complaint, defendants misled investors with unrealistic and materially false statements about market demand Estee’s products and its inventory levels. These statements concealed the truth about Estee’s weakness in the market until, on May 3, 2023, Estee announced weaker sales and profit for the year than estimated and accordingly cut its fiscal year outlook for a third consecutive time. As a result, the price of Estee stock declined from $245.22 per share on May 2, 2023 to $202.70 per share on May 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 Eagle Pharmaceuticals, Inc. (NASDAQ: EGRX) securities.
If you suffered a loss on your Eagle Pharmaceuticals 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 08 2023 - Nov 28 2023
CASE DETAILS: The filed complaint alleges that Eagle Pharmaceuticals, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) that the Company was experiencing slower-thananticipated pull-though from a wholesale customer predominantly due to expiry of inventory; (2) that, as a result, the Company had overstated its revenue; (3) that the Company did not have effective internal controls and procedures over financial reporting as to sales of PEMFEXY, Eagle Pharmaceuticals' metabolic inhibitor product; 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 FMC Corporation (NYSE: FMC) securities.
If you suffered a loss on your FMC 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 - Oct 30 2023
CASE DETAILS: The filed complaint alleges that FMC Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) the diminishment of patent protection for FMC’s flagship products following legal defeats in key markets including India, China, and Brazil had opened the door to increased competition from generics; (2) the Company repeatedly mislead investors about the status of such proceedings and falsely claimed that it did not and would not face generic competition in key markets until 2026 at the earliest; and (3) because of these issues, 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 EHang Holdings Limited (NASDAQ: EH) securities.
If you suffered a loss on your EHang 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 20 2022 - Nov 06 2023
CASE DETAILS: The filed complaint alleges that EHang Holdings Limited made materially false and/or misleading statements and/or failed to disclose that: (1) EHang had continued to state that it was partnering with United Therapeutics, DHL and Vodafone, among others, even though a former EHang employee has noted that United Therapeutics, DHL, and Vodafone had all abandoned their respective deals with EHang; (2) EHang omitted that other entities that had placed pre-orders for its aircraft, such as Prestige Aviation and Shenzhen Boling Holding Group, did not engage in regular business in the aviation sector and are otherwise almost certainly not in a financial position to be able to afford their orders; 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 Microvast Holdings, Inc. (NASDAQ: MVST) securities.
If you suffered a loss on your Microvast 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 19 2022 - Nov 20 2023
CASE DETAILS: The filed complaint alleges that Microvast Holdings, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) there was a reasonable likelihood that, after due diligence was performed, Microvast would not be awarded the proposed $200 million grant from the United States Department of Energy; (2) negotiations had ceased and the grant rescinded; (3) the Company misrepresented the nature and profitability of its businesses and partnerships; 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 DermTech, Inc. (NASDAQ: DMTK) securities.
If you suffered a loss on your DermTech 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 08 2021 - Nov 03 2022
CASE DETAILS: The filed complaint alleges that DermTech, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company experienced challenges with collections from commercial payors; (2) as a result, there was a lower average selling price for the DermTech Melanoma Test; (3) as a result of the foregoing, the Company’s revenue growth 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 Dollar General Corporation (NYSE: DG) securities.
If you suffered a loss on your Dollar General 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 Dollar General common stock between May 28, 2020 and August 30, 2023, inclusive.
CASE DETAILS: The filed complaint alleges that Dollar General Corporation made materially false and/or misleading statements and/or failed to disclose that: (a) Dollar General stores were chronically understaffed and suffering from logistical and inventory management problems that left stores with tens of millions of dollars’ worth of outdated and unwanted inventory, mispriced goods, and lost and damaged items; (b) large backlogs of unsellable merchandise had built up at Dollar General’s stores, which inventory had not been timely written down due to understaffing and the Company’s failure to manage its inventory; (c) the allotment of employee hours per store per week imposed by Dollar General management placed employees in virtually impossible situations where assigned tasks, including those necessary for effective store operations, could not be completed within the allotted time; (d) in violation of state laws, including state law violations identified by state regulators in Arizona, Louisiana, Mississippi, Missouri, North Carolina, and Ohio, Dollar General was systematically overcharging customers for items upon checkout; (e) Dollar General’s reported revenue and earnings during the class period were artificially inflated by defendants’ over-pricing scheme; (f) Dollar General’s failure to manage store inventories and accurately price items upon checkout risked the loss of customers, lower sales, adverse regulatory actions, and reputational fallout; (g) Dollar General was not on track to achieve the 4Q22 guidance provided to investors of 6% to 7% same-store sales growth or quarterly diluted EPS of $3.15 to $3.30 and was running more than one hundred million dollars behind the Company’s annual net sales guidance of 11% growth; and (h) as a result of (a)-(g) above, defendants’ statements about Dollar General’s business metrics, operations, and financial prospects were materially false and misleading and/or lacked a reasonable factual basis 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 LivePerson, Inc. (NASDAQ: LPSN) securities.
If you suffered a loss on your LivePerson 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 2022 - Mar 16 2023
CASE DETAILS: The filed complaint alleges that LivePerson, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the Company’s disclosure controls and procedures contained a material weakness; (ii) accordingly, LivePerson maintained deficient internal controls over its financial reporting; (iii) as a result, LivePerson’s Q3 2022 financial statements failed to disclose the suspension of its acquisition WildHealth’s Medicare reimbursements in connection with the Program and the resulting negative impact on the Company’s future revenues; (iv) accordingly, LivePerson had overstated the Company’s future financial position and/or prospects; 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 Expensify, Inc. (NASDAQ: EXFY) securities.
If you suffered a loss on your Expensify 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 those who purchased or otherwise acquired Expensify common stock pursuant and/or traceable to the registration statement and related prospectus issued in connection with the Company’s initial public offering conducted on or about November 11, 2021.
CASE DETAILS: According to the complaint, the offering documents issued by the Company in connection with its initial public offering (the "Offering Documents") made false and/or misleading statements and/or failed to disclose that: (i) Expensify’s revenue growth was highly susceptible to structural and macroeconomic headwinds; (ii) as a result, the Company overstated the efficacy of its business model and the likelihood it would meet the long-term growth projections touted in the Offering Documents; (iii) accordingly, the Company’s post-IPO financial position and/or business prospects were overstated; 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 Fisker Inc. (NYSE: FSR) securities.
If you suffered a loss on your Fisker investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Aug 04 2023 - Nov 20 2023
CASE DETAILS: The filed complaint alleges that Fisker Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Fisker had a material weakness in its internal control over financial reporting; (2) Fisker had incorrectly accounted for certain costs; (3) as a result, the Company was likely to delay filing its quarterly report; (4) Fisker’s infrastructure was limiting its ability to deliver its production; 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: Mar 10 2021 - Feb 15 2022
CASE DETAILS: The filed complaint alleges that Roblox Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) the Roblox platform had insufficient content controls and lacked user spending restrictions; (2) these inadequate controls enabled younger Roblox users to play games with inappropriate content and make excessive, unauthorized Robux purchases; (3) a material portion of Roblox’s bookings and revenue growth was due to these excessive, unauthorized Robux purchases; (4) fourth quarter 2021 and 2022 bookings would be negatively impacted by Roblox’s planned rollout of enhanced parental controls; and (5) based on the foregoing, the Company’s bookings and revenue growth was unsustainable 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 Generac Holdings, Inc. (NYSE: GNRC) securities.
If you suffered a loss on your Generac 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 2023 - Aug 03 2023
CASE DETAILS: The complaint alleges that on August 2, 2023, the Company held its Q2 2023 earnings call. During that call, President and CEO Aaron P. Jagfeld revealed lackluster quarterly results, including a $1 billion sales decrease year-over-year and that residential sales decreased 44%. When explaining that decline, Jagfeld contradicted his May statements discounting macroeconomic trends. He said, “[the Company] underperformed our expectations as a result of the shift in consumer spending patterns,” thus admitting the importance of inflation on consumer spending. Consequently, Jagfeld advised investors, “[t]his weaker than previously expected demand environment is expected to persist in the second half of the year, also contributing to our lower outlooked for residential product sales.” Generac’s share price dropped swiftly in the day after the earnings call. On August 1, 2023 shares closed to $153.38; by the close on August 3, 2023 shares plummeted to $110.77.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Veradigm Inc. (NASDAQ: MDRX) concerning potential violations of the federal securities laws.
On February 28, 2023, Veradigm disclosed that it had “detected certain internal control failures related to revenue recognition” from the prior six quarters and further stated that these failures had “result[ed] in a mis-statement to reported revenues during those periods.” As a result, Veradigm expected “a reduction in revenue from continuing operations of approximately $20 million dollars in the aggregate from what it otherwise reported since the 3rd quarter of 2021 and expected to report for the 4th quarter of 2022.” The Company added that it would continue to evaluate the effects of the misstatement “to determine if the full amount of this adjustment will flow through in the 4th quarter of 2022 or if prior periods will also require adjustment.” As a result, Veradigm revised its 2023 guidance downward and announced that it would not be filing its 2022 annual report on time.
Following this news, Veradigm’s stock price fell 12.76%, to close at $14.49 per share on March 1, 2023.
If you suffered a loss on your Veradigm 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 The Beauty Health Company (NASDAQ: SKIN) securities.
If you suffered a loss on your Beauty 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: May 10 2022 - Nov 13 2023
CASE DETAILS: The filed complaint alleges that The Beauty Health Company made materially false and/or misleading statements and/or failed to disclose that: (1) Syndeo 1.0 and 2.0 devices had issues leading to “frequent treatment interruptions;” (2) as a result, the Company incurred significant costs to develop enhancements; (3) despite the enhancements, providers continued to experience issues with the Syndeo devices; (4) as a result, the Company would no longer market Syndeo 1.0 and 2.0 devices and incur significant inventory write-downs; (5) as a result, the Company’s profitability would be adversely impacted; 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 The Beauty Health Company (NASDAQ: SKIN) securities.
If you suffered a loss on your Beauty 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: May 10 2022 - Nov 13 2023
CASE DETAILS: The filed complaint alleges that The Beauty Health Company made materially false and/or misleading statements and/or failed to disclose that: (1) Syndeo 1.0 and 2.0 devices had issues leading to “frequent treatment interruptions;” (2) as a result, the Company incurred significant costs to develop enhancements; (3) despite the enhancements, providers continued to experience issues with the Syndeo devices; (4) as a result, the Company would no longer market Syndeo 1.0 and 2.0 devices and incur significant inventory write-downs; (5) as a result, the Company’s profitability would be adversely impacted; 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 NuScale Power Corporation (NYSE: SMR) securities.
If you suffered a loss on your NuScale 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 15 2023 - Nov 08 2023
CASE DETAILS: The filed complaint alleges that NuScale Power Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) because of the effect of inflationary pressures on the cost of construction and power, the Company and Utah Associated Municipal Power Systems would be unable to sign up enough subscribers to fulfill the Carbon Free Power Project; (2) Standard Power did not have the financial ability to support its agreement with NuScale; and (3) as a result, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Acelyrin, Inc. (NASDAQ: SLRN) securities.
If you suffered a loss on your Acelyrin 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 04 2023 - Sep 11 2023
CASE DETAILS: The filed complaint alleges that Acelyrin, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) izokibep, the Company's lead product candidate, was less effective in treating Hidradenitis Suppurativa than defendants had led investors to believe; (ii) accordingly, Acelyrin overstated izokibep’s clinical and/or commercial prospects; (iii) as a result, Acelyrin also overstated the Company’s business prospects post-initial public offering; 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 James River Group Holdings, Ltd. (NASDAQ: JRVR) securities.
If you suffered a loss on your James River 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 07 2023 - Nov 07 2023
CASE DETAILS: The filed complaint alleges that James River Group Holdings, Ltd. made materially false and/or misleading statements and/or failed to disclose that: (1) James River lacked effective internal controls regarding the recognition of reinstatement premiums for reinsurance; (2) as a result, the Company overstated its net income; (3) the Company was reasonably likely to restate its 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 Li-Cycle Holdings Corp. (NYSE: LICY) securities.
If you suffered a loss on your Li-Cycle 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 14 2022 - Oct 23 2023
CASE DETAILS: The filed complaint alleges that Li-Cycle Holdings Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s facility in Rochester, New York (the “Rochester Hub”) was experiencing escalating construction costs; (2) these “escalating construction costs” exceeded the expected aggregate cost of the project; (3) as a result, the Company would be forced to temporarily halt construction and reevaluate the construction strategy for the Rochester Hub; 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 Holley Inc. (NYSE: HLLY) securities.
If you suffered a loss on your Holley 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 21 2021 - Feb 06 2023
CASE DETAILS: The filed complaint alleges that Holley Inc. made materially false and/or misleading statements and/or failed to disclose that: i) as a result of Holley’s extensive focus on its direct-to-consumer (“DTC”) channel, Holley’s critically important relationships with its resellers and distributors, whose business made up the vast majority of Holley’s revenue, were suffering significant damage; (ii) Holley used discounting and other similar efforts to grow its DTC channel, which undermined the pricing discipline Holley historically had with its resellers and distributors and further damaged Holley’s relationship with its resellers and distributors; (iii) as a result of Holley’s strained relationships with its resellers and distributors, those resellers and distributors were decreasing their purchases of Holley products, returning products already purchased at levels far above historical norms, and increasing their purchases of competitors’ products; (iv) Holley’s growing DTC channel could not offset the negative financial impact of the Company's increasingly strained relationships with its resellers and distributors and, as a result, Holley’s critical relationship with resellers and distributors was deteriorating; (v) Holley had failed to successfully integrate and capture synergies from its numerous acquisitions, which left Holley with inefficient operations, excess costs, and inventory management problems; and (vi) Holly benefited from COVID-related stimulus money that temporarily boosted its sales and performance, and despite this unsustainable, temporary boost, defendants misled investors to believe the growth was sustainable and the result of persistent demand and supportive of positive financial guidance.
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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 Brainstorm Cell Therapeutics Inc. (NASDAQ: BCLI) securities.
If you suffered a loss on your Brainstorm Cell 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 2022 - Sep 27 2023
CASE DETAILS: The filed complaint alleges that Brainstorm Cell Therapeutics Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Brainstorm Cell downplayed the severity of the refusal to file letter it received from the U.S. Food and Drug Administration regarding NurOwn ; (2) Brainstorm Cell continued to conceal the risks associated with the submission of the Biologics License Application for NurOwn; 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 Barclays PLC (NYSE: BCS) securities.
If you suffered a loss on your Barclays 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 22 2019 - Oct 12 2023
CASE DETAILS: The filed complaint alleges that Barclays PLC made materially false and/or misleading statements and/or failed to disclose that: (1) contrary to his false public assertions, Barclays' CEO, Jes Staley, had a close relationship with Jeffrey Epstein; (2) Staley was reportedly aware of Jeffrey Epstein’s criminal activities and may have even sexually assaulted a victim who had previously been trafficked by Jeffrey Epstein; (3) Staley’s close, personal relationship with Jeffrey Epstein and potential criminal activity could, if discovered, bring reputational, legal, and financial harm to Barclays; (4) as a result, Barclays response to the British Financial Conduct Authority'("FCA") inquiry regarding Staley’s relationship with Epstein was materially false; (5) Barclays, having become aware of information contradicting its response to the FCA’s inquiry, then failed to update the response so that it would be accurate, or otherwise take any meaningful action; and (6) 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 DocGo Inc. (NASDAQ: DCGO) securities.
If you suffered a loss on your DocGo investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Nov 08 2022 - Sep 17 2023
CASE DETAILS: The filed complaint alleges that DocGo Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) DocGo’s executive hiring processes were inadequate to fully review and vet the professional and academic backgrounds of job candidates; (ii) the foregoing increased the likelihood of disruptive executive turnover; (iii) contrary to its representations to investors, DocGo had overstated the efficacy of its mobile health and medical transportation services, the very services contemplated by the relocation contract between the Company and New York City; (iv) all of the foregoing, once revealed, was likely to subject DocGo to significant reputational and/or regulatory scrutiny that would negatively impact the Company’s financial position and/or prospects; 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 Farfetch Limited (NYSE: FTCH) securities.
If you suffered a loss on your Farfetch 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 - Aug 17 2023
CASE DETAILS: The filed complaint alleges that Farfetch Limited made materially false and/or misleading statements and/or failed to disclose that: (i) Farfetch was experiencing a significant slowdown in growth in the U.S. and China; (ii) Farfetch also faced onboarding challenges impacting the launch of its Reebok partnership; (iii) Farfetch downplayed challenges it faced with respect to, and/or overstated its ability to manage, its supply chain and inventory; (iv) all the foregoing was having a significant negative impact on Farfetch’s revenue and gross merchandise value growth; (v) accordingly, Farfetch was unlikely to meet market expectations for its Q2 2023 financial results or its own FY 2023 revenue guidance; 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 Adobe Inc. (NASDAQ: ADBE) securities.
If you suffered a loss on your Adobe 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 23 2021 - Sep 15 2022
CASE DETAILS: The filed complaint alleges that Adobe Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) Figma was growing its market share and was becoming a leader in user experience design; (b) Figma was in direct competition with Adobe on user experience design; (c) Adobe’s product “Express” was not an effective counter to Figma’s growing market share in bringing new customers to Adobe’s paid offerings; (d) Adobe’s other offerings were not succeeding in competing with Figma on user experience design; and (e) Adobe was losing market share to Figma.
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