Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Volta Inc. (NYSE: VLTA) securities.
If you suffered a loss on your Volta 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 02 2021 - Mar 28 2022
CASE DETAILS:
(1) Volta had improperly accounted for restricted stock units issued in connection with the business combination of Volta Industries, Inc. (“Legacy Volta”) and Tortoise Acquisition Corp. II; (2) as a result, the Company had understated its net loss for third quarter 2021; (3) there were material weaknesses in the Company’s internal control over financial reporting that resulted in a material error; (4) as a result of the foregoing, the Company would restate its financial statements; (5) as a result of the foregoing, Legacy Volta’s founders would imminently exit the Company; (6) as a result, the Company’s financial results would be adversely impacted; and (7) 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 RIVN class action lawsuit has been filed on behalf of investors who purchased Rivian Automotive, Inc. (RIVN) common stock pursuant and/or traceable to Rivian’s initial public offering on November 10, 2021 and/or common stock between November 10, 2021, and March 10, 2022. For more on the RIVN Lawsuit please contact us today.
According to the Rivian Automotive, Inc. lawsuit, documents issued in connection with the initial public offering contained representations that were materially inaccurate, misleading, and/or incomplete because they failed to disclose, among other things, that the R1T electric pickup truck and R1S electric SUV were underpriced to such a degree that Rivian would have to raise prices shortly after the IPO and that these price increases would tarnish Rivian’s reputation as a trustworthy and transparent company and would put a significant number of the existing backlog of 55,400 preorders, along with future preorders, in jeopardy of cancellation.
If you suffered a loss in Rivian Automotive, Inc. you have until May 6, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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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 Homology Medicines, Inc. (NASDAQ: FIXX) securities.
If you suffered a loss on your Homology 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 10 2019 - Feb 18 2022
CASE DETAILS:
(i) the Company had overstated the efficacy and risk mitigation of its lead product candidate, HMI-102; (ii) accordingly, it was unlikely that the Company would be able to commercialize HMI102 in its present form; 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 Celsius Holdings, Inc. (NASDAQ: CELH) securities.
If you suffered a loss on your Celsius investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Aug 12 2021 - Mar 01 2022
CASE DETAILS:
(1) the Company had improperly recorded expenses for non-cash share-based compensation for second and third quarters of 2021; (2) as a result, the Company’s financial statements for those periods would be restated, including to report a net loss for the third quarter of 2021; (3) there was a material weakness in Celsius’s internal controls over financial reporting; 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 Akebia Therapeutics, Inc. (NASDAQ: AKBA) securities.
If you suffered a loss on your Akebia 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 2018 - Sep 02 2020
CASE DETAILS:
(i) the Company’s lead investigational product candidate, vadadustat, was not as safe in treating non-dialysis dependent chronic kidney disease patients with anemia as defendants had represented; (ii) as a result, defendants overstated the clinical prospects of a Phase 3 clinical program for vadadustat; (iii) accordingly, defendants also overstated vadadustat’s overall commercial and regulatory 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 Meta Platforms, Inc. (NASDAQ: FB) securities.
If you suffered a loss on your Meta Platforms, Inc. investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Mar 02 2021 - Feb 02 2022
CASE DETAILS:
(1) Apple’s iOS privacy changes were having a material impact on Meta’s ability to provide the kind of targeted advertising that its customers wanted and, as a result, customer ad spending was dropping precipitously; (2) Meta’s mitigation efforts were either not properly implemented or ineffective; (3) measurement of ads was not accurate as mitigation efforts were failing; and (4) Meta did not have a plan in place to properly address the impact of the iOS privacy changes.
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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 C3.ai, Inc. (NYSE: AI) securities.
If you suffered a loss on your C3.ai, 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: (a) Class A common stock pursuant and/or traceable to the documents issued in connection with the Company’s initial public offering conducted on or about December 9, 2020; and/or (b) securities between December 9, 2020 and February 15, 2022, both dates inclusive
CASE DETAILS:
(i) C3.ai’s partnership with Baker Hughes was deteriorating; (ii) C3.ai was employing a flawed accounting methodology to conceal the deterioration of its Baker Hughes partnership; (iii) C3.ai faced challenges in product adoption and significant salesforce turnover; (iv) the Company overstated, inter alia, the extent of its investment in technology, description of its customers, its total addressable market, the pace of its market growth, and the scale of alliances with its major business partners; 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 Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) securities.
If you suffered a loss on your Telefonaktiebolaget LM Ericsson investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Apr 27 2017 - Feb 25 2022
CASE DETAILS:
(i) Ericsson overstated the extent to which it had reformed its business practices to eliminate the use of bribes to secure business in foreign countries; (ii) Ericsson had paid bribes to the terrorist group the Islamic State in Iraq and Syria to gain access to certain transport routes in Iraq; (iii) accordingly, the Company’s revenues derived from its operations in Iraq were, in at least substantial part, derived from unlawful conduct and thus unsustainable; 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 CABA class action lawsuit has been filed on behalf of investors who purchased Cabaletta Bio, Inc. (CABA): (a) common stock pursuant and/or traceable to documents issued in connection with the Company’s initial public offering conducted on or about October 24, 2019; and/or (b) securities between October 24, 2019 and December 13, 2021, both dates inclusive. For more on the CABA Lawsuit please contact us today.
According to the Cabaletta Bio, Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) top-line data of the Phase 1 Clinical Trial indicated that Cabaletta’s lead product candidate, DSG3-CAART, had, among other things, worsened certain participants’ disease activity scores and necessitated additional systemic medication to improve disease activity after DSG3-CAART infusion; (ii) accordingly, DSG3-CAART was not as effective as the Company had represented to investors; (iii) therefore, the Company had overstated DSG3-CAART’s clinical and/or commercial prospects; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in Cabaletta Bio, Inc. you have until April 29, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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Levi & Korsinsky, LLP announces that a CRNC class action lawsuit has been filed on behalf of investors who purchased Cerence Inc. (CRNC) common stock between February 8, 2021 and February 4, 2022. For more on the CRNC lawsuit please contact us today.
According to the Cerence Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the global semiconductor shortage had a materially negative impact on demand for Cerence’s software licenses; (2) defendants masked the impact of the semiconductor shortage on demand for the Company’s software licenses by pulling forward sales; and (3) as a result of the above, defendants’ statements about Cerence’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
If you suffered a loss in Cerence Inc. you have until April 26, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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Levi & Korsinsky, LLP announces that a class action lawsuit has been filed on behalf of all persons and entities who purchased, acquired, or otherwise held or sold, the publicly traded securities of The Southern Company between May 10, 2013 and February 20, 2020, inclusive. For more on the lawsuit, please contact us today.
According to the filed complaint, Deloitte & Touche, LLP allegedly made false and/or materially misleading statements in connection with its audit of The Southern Company’s financial statements and, in particular, its “clean coal” electric power plant in Kemper, Mississippi. Between May 10, 2013 and February 20, 2020 (the “Class Period”), Deloitte intentionally and recklessly violated its professional responsibilities as Southern’s professional auditor and deceived investors about Southern’s accounting for and expected completion of the Kemper Plant. Deloitte’s untrue statements and omissions of material facts concerning the Kemper Plant operated as a fraud and deceit upon plaintiff and others similarly situated in connection with their purchases and value of Southern securities during the Class Period.
If you suffered a loss in The Southern Company you have until April 25, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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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 Taskus, Inc. (NASDAQ: TASK) securities.
If you suffered a loss on your Taskus 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 11 2021 - Jan 19 2022
CASE DETAILS:
(1) TaskUs was experiencing severe financial strain and business challenges, particularly with its most important customer, Facebook; (2) the Content Security market was smaller than defendants represented and defendants’ representations were based on outdated market data; (3) TaskUs improperly recognized revenue from certain key contracts; (4) defendants overstated the size of TaskUs’ workforce as well as employee retention rates, and understated attrition rates; and (5) as a result of the foregoing, defendants’ positive statements 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 GATO class action lawsuit has been filed on behalf of investors who purchased Gatos Silver, Inc. (GATO): (a) common stock pursuant and/or traceable to documents issued in connection with the Company’s initial public offering conducted on or about October 28, 2020; and/or (b) securities between October 28, 2020 and January 25, 2022, inclusive. For more on the GATO Lawsuit please contact us today.
According to the Gatos Silver, Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the technical report for Gatos’s primary mine, the Cerro Los Gatos deposit, contained certain errors; (2) among other things, the mineral reserves had been overestimated by as much as 50%; 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.
If you suffered a loss in Gatos Silver, Inc. you have until April 25, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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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 MP Materials Corp. f/k/a Fortress Value Acquisition Corp. (NYSE: MP) securities.
If you suffered a loss on your MP Materials 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 01 2020 - Feb 02 2022
CASE DETAILS:
(i) Fortress Value Acquisition Corp. (“FVAC”) had overstated its due diligence efforts and expertise with respect to identifying target companies to acquire; (ii) FVAC performed inadequate due diligence into Legacy MP Materials prior to the business combination, or else ignored significant red flags regarding, inter alia, Legacy MP Materials’ management, compliance policies, and Mountain Pass’s profitability; (iii) as a result, the Company’s future business and financial prospects post-business combination were overstated; (iv) MP Materials engaged in an abusive transfer price manipulation scheme with a related party in the People’s Republic of China to artificially inflate the Company’s profits; (v) MP Materials’ ore at the Mountain Pass Rare Earth Mine and Processing Facility was not economically viable to harvest for rare earth metals; 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 Pulse Biosciences, Inc. (NASDAQ: PLSE) securities.
If you suffered a loss on your Pulse 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 12 2021 - Feb 07 2022
CASE DETAILS:
(1) the investigational device exemption study evaluating the use of the Company’s CellFX System to treat sebaceous hyperplasia lesions failed to meet its primary endpoints; (2) as a result, there was a substantial risk that the U.S. Food and Drug Administration would reject Pulse’s 510(k) submission seeking to expand the label for the CellFX System to treat sebaceous hyperplasia lesions; 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 BFLY class action lawsuit has been filed on behalf of: (a) all persons or entities that purchased or otherwise acquired Butterfly securities between February 16, 2021 and November 15, 2021, both dates inclusive and/or (b) all holders of Butterfly common stock as of the record date for the special meeting of shareholders held on February 12, 2021 to consider approval of the merger between Longview Acquisition Corp. and Butterfly. For more on the BFLY Lawsuit please contact us today.
According to the Butterfly Network, Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Butterfly had overstated its post-merger business and financial prospects; (ii) notwithstanding the ongoing COVID-19 pandemic, Butterfly’s financial projections failed to take into account the pandemic’s broad consequences, which included healthcare logistical challenges, and medical personnel fatigue; (iii) accordingly, Butterfly’s gross margin levels and revenue projections were less sustainable than the Company had represented; (iv) all the foregoing was reasonably likely to have a material negative impact on Butterfly’s business and financial condition; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in Butterfly Network, Inc. f/k/a Longview Acquisition Corp. you have until April 18, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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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 SunPower Corporation (NASDAQ: SPWR) securities.
If you suffered a loss on your SunPower 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 - Jan 20 2022
CASE DETAILS:
(1) certain connectors used by SunPower suffered from cracking issues; (2) as a result, the Company was reasonably likely to incur costs to remediate the faulty connectors; (3) as a result of the foregoing, SunPower’s financial results 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 AFIB class action lawsuit has been filed on behalf of investors who purchased Acutus Medical, Inc. (AFIB) common stock between May 13, 2021 and November 11, 2021. For more on the AFIB Lawsuit please contact us today.
According to the Acutus Medical, Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (a) a material percentage of the Company’s AcQMap imaging and mapping systems under evaluation had been randomly installed at sites with little, if any, consideration given to whether the healthcare providers at the selected locations were likely to adopt, or desire, the Company’s products; (b) a material percentage of the AcQMap systems under evaluation had been installed in locations where the Company did not possess the infrastructure necessary to appropriately educate, train, and support medical service providers on the system’s operations; (c) as a result of (a) and (b) above, defendants were in the process of designing a strategic plan to terminate and relocate approximately 20% of then-existing AcQMap systems evaluation arrangements; (d) the Company’s management discussion and analysis was materially false and misleading and failed to disclose that the termination and relocation of approximately 20% of existing AcQMap systems evaluation arrangements was reasonably likely to have a material adverse effect on the Company’s 2021 financial results; and (e) the Company’s risk factor discussions were materially false and misleading and made reference to potential risks without disclosing that such risks were then-existing or adequately describing the specific nature of the risks then facing the Company.
If you suffered a loss in Acutus Medical, Inc. you have until April 18, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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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 Astra Space Inc. f/k/a Holicity Inc. (NASDAQ: ASTR) securities.
If you suffered a loss on your Astra investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Feb 02 2021 - Dec 29 2021
CASE DETAILS:
(1) Astra cannot launch “anywhere”; (2) Astra significantly overstated its addressable market; (3) Astra overstated the effectiveness of its designs and reliability; (4) Astra significantly overstated its plans for diversification and its broadband constellation plan; and (5) 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 Fennec Pharmaceuticals Inc. (NASDAQ: FENC) securities.
If you suffered a loss on your Fennec 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 28 2021 - Nov 26 2021
CASE DETAILS:
(i) Fennec had not successfully remediated, and overstated its efforts to remediate, issues with the manufacturing facility of its drug product manufacturer for PEDMARK, a new compound developed to reduce the incidence of hearing loss in children undergoing chemotherapy; (ii) as a result, the Food and Drug Administration likely to approve the Resubmitted Pedmark New Drug Application (“NDA”); (iii) accordingly, the regulatory and commercial prospects of the Resubmitted Pedmark NDA were overstated; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Biogen Inc. (NASDAQ: BIIB) securities.
If you suffered a loss on your Biogen investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Jun 07 2021 - Jan 11 2022
CASE DETAILS:
1) there was a significant, undisclosed lobbying campaign between Biogen and the Food and Drug Administration (“FDA”) that was instrumental in the decision to file and approve Aduhelm, a drug being developed to treat Alzheimer’s disease; 2) the Phase III ENGAGE study demonstrated that Aduhelm failed to achieve a clinical benefit to Alzheimer’s patients; 3) ENGAGE was a failed study from which Biogen concluded not to seek FDA approval for Aduhelm in 2019; and 4) defendants misled investors as to the way in which approval was achieved, that the clinical data did not support a clinical benefit by taking Aduhelm and that side-effects were dangerous and serious.
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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 Telos Corporation (NASDAQ: TLS) securities.
If you suffered a loss on your Telos 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 19 2020 - Nov 12 2021
CASE DETAILS:
(1) the Transportation Security Administration (“TSA”) and Centers for Medicare and Medicaid Services (“CMS”) contracts, which constituted a majority of the Company’s future revenues, were not on track to commence as represented at the end of 2021 and in 2022; (2) Defendants lacked a reasonable basis and sufficient visibility to provide and affirm the Company’s 2021 guidance in the face of the uncertainty surrounding the TSA and CMS contracts; (3) COVID-19- and hacking scandal-related headwinds were throwing off the timing for performance of the TSA and CMS contracts and their associated revenues; (4) as a result, the guidance provided by Defendants was not in fact “conservative”; (5) as a result of the delays, Telos would be forced to dramatically reduce its revenue estimates; and (6) as a result of the foregoing, Defendants’ statements about Telos’ business, operations, and prospects, were materially false and/or 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 Tal Education Group (NYSE: TAL) securities.
If you suffered a loss on your TAL investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Apr 26 2018 - Jul 22 2021
CASE DETAILS:
(a) TAL’s revenue and operational growth was the result of deceptive marketing tactics and illicit business practices that flouted Chinese laws, regulations and policies, and exposed the Company to an extreme risk that more draconian measures would be imposed on the Company; (b) TAL had engaged in misleading and fraudulent advertising practices, including the provision of false and misleading discount information designed to obfuscate the true cost of the Company’s programs to its customers, the creation of fake customer reviews designed to fraudulently lure new customers to TAL programs, the misrepresentation of teacher qualifications and course qualities, and the marketing of rigged promotional events; (c) TAL had defied Chinese policies designed to alleviate the burden imposed by tutoring services on students and their families, including by imposing hefty advances and recurring debt payments on course enrollees, by offering courses designed to give affluent students unfair advantages, by holding courses outside of allowable tutoring hours, and by linking for-profit courses to government-mandated schooling; (d) as a result of the foregoing, TAL was subject to an extreme undisclosed risk of adverse enforcement actions, regulatory fines and penalties, and the imposition of new rules and regulations adverse to the Company’s business and financial interests; and (e) as a result of the foregoing, TAL’s historical growth was not sustainable or the result of legitimate business tactics as represented, and defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and lacked a reasonable factual basis.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired New Oriental Education & Technology Group Inc. (NYSE: EDU) securities.
If you suffered a loss on your New Oriental 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 2018 - Jul 22 2021
CASE DETAILS:
(a) New Oriental’s revenue and operational growth was the result of deceptive marketing tactics and abusive business practices that flouted Chinese regulations and policies and exposed the Company to an extreme risk that more draconian measures would be imposed on the Company; (b) New Oriental had engaged in misleading and fraudulent advertising practices, including the provision of false and misleading discount Information designed to obfuscate the true cost of the Company’s programs to its customers; (c) New Oriental had falsified teacher qualifications and experience in order to attract customers and increase student enrollments; (d) New Oriental had defied prior government warnings against linking school enrollments with the provision of private tutoring services; (e) as a result of the foregoing, New Oriental was subject to an extreme undisclosed risk of adverse enforcement actions, regulatory fines and penalties, and the imposition of new rules and regulations adverse to the Company’s business and interests; and (f) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and lacked a reasonable, factual basis.
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Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. (NASDAQ: ELMS) securities.
If you suffered a loss on your ELMS 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 31 2021 - Feb 01 2022
CASE DETAILS:
(1) ELMS’s previously issued financial statements were false and unreliable; (2) ELMS’s earlier reported financial statements would need restatement; (3) certain ELMS executives and/or directors purchased equity in the Company at substantial discounts to market value without obtaining an independent valuation; (4) on November 25, 2021 (Thanksgiving), the Company’s Board formed an independent Special Committee to conduct an inquiry into certain sales of equity securities made by and to individuals associated with the Company; 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 Desktop Metal, Inc. (NYSE: DM) securities.
If you suffered a loss on your Desktop Metal 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 17 2021 - Nov 15 2021
CASE DETAILS:
(1) there were deficiencies in Desktop Metals’ acquisition EnvisionTEC’s manufacturing and product compliance practices and procedures; (2) the foregoing deficiencies presented a material risk to the commercialization of EnvisionTEC’s products; 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 Talkspace, Inc. f/k/a Hudson Executive Investment Corporation (NASDAQ: TALK) securities.
If you suffered a loss on your Talkspace 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: (a) Talkspace securities between June 11, 2020 and November 15, 2021, both dates inclusive, and/or (b)Talkspace common stock as of the record date for the special meeting of shareholders held on June 17, 2021
CASE DETAILS:
(i) Hudson Executive Investment Corporation (“HEIC”) had overstated its competitive advantage and due diligence capabilities with respect to identifying and effectuating a merger with target companies; (ii) HEIC had conducted inadequate due diligence into then-private, pre-Merger Talkspace, or else ignored and/or failed to disclose multiple red flags concerning then-private, pre-Merger Talkspace’s business and operations; (iii) Talkspace was experiencing significantly increased online advertising costs in its B2C business since the beginning of 2021; (iv) Talkspace was experiencing lower conversion rates in its online advertising in its business-to-consumer (“B2C”) business; (v) as a result of (iii) and (iv) above, Talkspace was experiencing increased customer acquisition costs and more tepid B2C demand than represented to investors; (vi) as a result of (iii)-(v) above, Talkspace was suffering from ballooning customer acquisition costs and worsening growth and gross margin trends; (vii) Talkspace had overvalued its accounts receivables from certain of its health plan clients in its B2B business, which amounts required adjustment downward; and (viii) as a result of (iii)-(vii) above, Talkspace’s 2021 financial guidance was not achievable and lacked any reasonable basis in fact.
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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 Shattuck Labs, Inc. (NASDAQ: STTK) securities.
If you suffered a loss on your Shattuck 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: : (1) pursuant and/or traceable to the registration statement and related prospectus issued in connection with Shattuck’s October 2020 initial public offering; and/or (2) between October 9, 2020 and November 9, 2021, inclusive
CASE DETAILS:
(1) the collaboration agreement with Takeda was not solid; (2) Takeda and Shattuck would “mutually agree” to terminate the collaboration agreement in essentially one year; (3) as a result, Shattuck would cease to receive any future milestone, royalty, or other payments from Takeda; and (4) 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 Standard Lithium Ltd. (NYSE: SLI) securities.
If you suffered a loss on your Standard Lithium 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 19 2020 - Nov 17 2021
CASE DETAILS:
(i) the LiSTR Direct Lithium Extraction technology’s extraction recovery efficiencies were overstated; (ii) accordingly, the Company’s final product lithium recovery percentage at the Demonstration Plant would not be as high as the Company had represented to investors; 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 Clarivate Plc (NYSE: CLVT) securities.
If you suffered a loss on your Clarivate investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Feb 26 2021 - Dec 27 2021
CASE DETAILS:
(i) Clarivate maintained defective disclosure controls and procedures as a result of a material weakness in its internal control over financial reporting; (ii) the foregoing material weakness was not limited to how the Company accounted for warrants; (iii) as a result, Clarivate failed to properly account for an equity plan included in its acquisition of CPA Global, a global leader in Intellectual Property software and tech-enabled services; (iv) accordingly, the Company was reasonably likely to restate one or more of its previously issued financial statements following its acquisition of CPA Global; 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 Bumble Inc. (NASDAQ: BMBL) securities.
If you suffered a loss on your Bumble investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: directly in Bumble’s secondary public stock offering which took place on or about September 10, 2021
CASE DETAILS:
(a) Bumble’s paying user growth trends had abruptly reversed in 3Q21 and the Company had actually lost tens of thousands of paying users during the quarter; (b) paying users had been more reluctant to sign up for the Bumble app during 3Q21 because of the recent price hike for paid services on the app; (c) a material number of paying users were leaving the Badoo app, a dating-focused social network, and/or could not make payments through the Badoo app due, in substantial part, to problems arising from the Company’s transition of its payment platform; and (d) as a result of the foregoing, Bumble’s business metrics and financial prospects were not as strong as the Registration Statement had represented.
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Levi & Korsinsky, LLP announces that a FCFS class action lawsuit has been filed on behalf of investors who purchased FirstCash, Inc. (FCFS) common stock between February 1, 2018 and November 12, 2021. For more on the FCFS Lawsuit please contact us today.
According to the FirstCash, Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (a) FirstCash had made more than 3,600 loans to over 1,000 active-duty members of the military and their families at usurious interest rates above 36% – and often exceeding 200% – in violation of the Military Lending Act (“MLA”) and the Consent Order Cash America had entered into with the Consumer Financial Protection Bureau (the “Order”); (b) FirstCash had failed to implement the remedial measures imposed by the Order; (c) FirstCash’s financial results were, in substantial part, the product of the Company’s violations of the MLA and the Order; and (d) as a result of the foregoing, FirstCash was exposed to a material undisclosed risk of legal, reputational and financial harm if the Company’s violations of the MLA and the Order were ever publicly disclosed.
If you suffered a loss in FirstCash, Inc. you have until March 15, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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Levi & Korsinsky, LLP announces that a EHTH class action lawsuit has been filed on behalf of investors who purchased eHealth, Inc. (EHTH) securities between April 26, 2018 and July 23, 2020. For more on the EHTH lawsuit please contact us today.
The complaint alleges, in part, that: 1) statements made by defendants gave investors the false impression that the commission receivables reported by eHealth had no associated costs; and 2) the Company failed to disclose that eHealth in fact had additional operating expenses that it must incur in order to retain customers and keep them from cancelling their policies within the first year. These costs included the cost of providing “customer care service,” and these operating costs had to be offset against any commissions receivable.
If you suffered a loss in eHealth, Inc. you have until March 18, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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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 Bright Health Group, Inc. (NYSE: BHG) securities.
If you suffered a loss on your Bright 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: : (a) common stock pursuant and/or traceable to the documents issued in connection with the Company’s initial public offering conducted on or about June 24, 2021; and/or (b) securities between June 24, 2021 and November 10, 2021
CASE DETAILS:
(i) Bright Health had overstated its post-IPO business and financial prospects; (ii) the Company was ill-equipped to handle the impact of COVID-19-related costs; (iii) the Company was experiencing a decline in premium revenue because of a failure to capture risk adjustment on newly added lives; (iv) all the foregoing was reasonably likely to have
a material negative impact on Bright Health’s business and financial condition; and (v) as a result, the documents issued in connection with the IPO 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 ARVL class action lawsuit has been filed on behalf of investors who purchased Arrival SA. (ARVL) common stock between November 18, 2020 and November 19, 2021. For more on the ARVL lawsuit please contact us today.
According to the Arrival SA. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that:
(i) the Company would record a substantially greater net loss and adjusted earnings before interest, taxes, depreciation, and amortization (“EBITDA”) loss in the third quarter of 2021 compared to the third quarter of 2020; (ii) the Company would experience far greater capital and operational expense to operate and deploy its microfactories and manufacture EV vehicles than it had disclosed; (iii) the Company would not capitalize on or achieve profitability or provide meaningful revenue in the time periods disclosed; (iv) the Company would not achieve its disclosed production and sales volumes; (v) the Company would not meet the disclosed production rollout deadlines. Accordingly, the Company materially overstated its financial and operational position and/or prospects, and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in Arrival SA. you have until February 22, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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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 Meta Materials Inc. f/k/a Torchlight Energy Resources, Inc. (NASDAQ: MMAT) securities.
If you suffered a loss on your Meta Materials 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 - Dec 14 2021
CASE DETAILS:
(1) the business combination would result in an U.S. Securities and Exchange Commission investigation and subpoena in the matter captioned In the matter of Torchlight Energy Resources, Inc.; (2) the Company has materially overstated its business connections and dealings; (3) the Company has materially overstated its ability to produce and commercialize its products; (4) the Company has materially overstated its products’ novelty and capabilities; (5) the Company’s products did not have the potential to be disruptive because, among other things, the Company priced its products too high; and (6) 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 Instadose Pharma Corp. f/k/a Mikrocoze, Inc. (Other OTC: INSD) securities.
If you suffered a loss on your Instadose 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 08 2020 - Nov 24 2021
CASE DETAILS:
(i) Instadose had performed inadequate due diligence into the business combination with Instadose Canada and/or ignored significant red flags associated with Instadose Canada; (ii) Instadose’s internal controls and policies were inadequate to detect and/or prevent impermissible trading activity by control persons of the Company; (iii) the foregoing subjected Instadose to a heightened risk of regulatory scrutiny and enforcement action; 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 CHGG class action lawsuit has been filed on behalf of investors who purchased Chegg, Inc. (CHGG) common stock between May 5, 2020 and November 1, 2021. For more on the CHGG lawsuit please contact us today.
According to the Chegg, Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Chegg’s increase in subscribers, growth, and revenue had been a temporary effect of the COVID-19 pandemic that resulted in remote education for the vast majority of United States students and once the pandemic-related restrictions eased and students returned to campuses nationwide, Chegg’s extraordinary growth trends would end; (ii) Chegg’s subscriber and revenue growth were largely due to the facilitation of remote education cheating – an unstable business proposition – rather than the strength of its business model or the acumen of its senior executives and directors; and (iii) as a result, the Company’s current business metrics and financial prospects were not as strong as it had led the market to believe during the Class Period.
If you suffered a loss in Chegg, Inc. you have until February 22, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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Levi & Korsinsky, LLP announces that a RETA class action lawsuit has been filed on behalf of investors who purchased Reata Pharmaceuticals, Inc. (RETA) securities and/or put options between November 9, 2020 and December 8, 2021. For more on the RETA lawsuit please contact us today.
According to the Reata Pharmaceuticals, Inc. lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Food and Drug Administration had raised concerns regarding the validity of the clinical study designed to measure the efficacy and safety of bardoxolone for the treatment of chronic kidney disease caused by Alport syndrome; (2) as a result, there was a material risk that Reata’s New Drug Application would not be approved; 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.
If you suffered a loss in Reata Pharmaceuticals, Inc. you have until February 18, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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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 Redwire Corporation f/k/a/ Genesis Park Acquisition Corp (NYSE: RDW) securities.
If you suffered a loss on your Redwire 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 11 2021 - Nov 14 2021
CASE DETAILS:
(1) there were accounting issues at one of Redwire’s subunits; (2) as a result, there were additional material weaknesses in Redwire’s internal control over financial reporting; 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 BIDU class action lawsuit has been filed on behalf of investors who purchased Baidu Inc. (BIDU) securities between March 22, 2021 and March 29, 2021. For more on the BIDU Lawsuit please contact us today.
According to the lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: Goldman Sachs Group Inc. and Morgan Stanley sold a large number of Baidu shares while in possession of material non-public information. The defendants knew that Archegos Capital Management would need to fully liquidate its position in Baidu based on margin call pressures. The defendants avoided billions in losses by selling the Company’s shares while in possession of this information. When the market learned the truth about Baidu, investors suffered damages.
If you suffered a loss in you have until February 14, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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Levi & Korsinsky, LLP announces that a RAAS class action lawsuit has been filed on behalf of investors who purchased Cloopen Group Holding Limited (RAAS): (a) American Depositary Shares pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s February 2021 initial public offering; and/or (b) securities between February 9, 2021 and May 10, 2021, inclusive. For more on the RAAS Lawsuit please contact us today.
According to the Cloopen Group Holding Limited lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: an increasing number of its customers were refusing to pay, forcing the Company to record massive increases in its accounts receivables and allowance for doubtful accounts. The Registration Statement also failed to disclose that Cloopen was weighted down by massive liabilities related to the fair value of certain recently-granted warrants.
If you suffered a loss in Cloopen Group Holding Limited you have until February 8, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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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 Oak Street Health, Inc. (NYSE: OSH) securities.
If you suffered a loss on your Oak Street 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 06 2020 - Nov 08 2021
CASE DETAILS:
(1) Oak Street maintained relationships with third-party marketing agents likely to provoke law enforcement scrutiny; (2) Oak Street was providing free transportation to federal health care beneficiaries in a manner that would provoke law enforcement scrutiny; (3) these activities may be violations of the False Claims Act; (4) as such, Oak Street was at heightened risk of investigation by the U.S. Department of Justice and/or other federal law enforcement agencies; (5) as a result, Oak Street was subject to adverse impacts related to defense and settlement costs and diversion of management resources; 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 FSLR class action lawsuit has been filed on behalf of investors who purchased First Solar, Inc. (FSLR) common stock between February 22, 2019 and February 20, 2020. For more on the FSLR Lawsuit please contact us today.
According to the filed complaint, defendants made repeated misrepresentations to investors regarding the development of First Solar’s newest “Series 6” solar module, the cost per unit it could achieve with that module, and the impact the changeover to this new product would have on the viability of its other business segments. As a result of defendants’ misrepresentations, First Solar common stock traded at artificially inflated prices during the class period.
If you suffered a loss in First Solar, Inc. you have until March 8, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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Levi & Korsinsky, LLP announces that a TLIS class action lawsuit has been filed on behalf of investors who purchased Talis Biomedical Corporation (TLIS) common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s February 2021 initial public offering. For more on the TLIS Lawsuit please contact us today.
According to the Talis Biomedical Corporation lawsuit, documents that the Company issued in connection with its initial public offering failed to disclose to investors: (1) that the comparator assay in the primary study lacked sufficient sensitivity to support Talis’s Emergency Use Authorization application for Talis One COVID-19 test; (2) that, as a result, Talis was reasonably likely to experience delays in obtaining regulatory approval for the Talis One COVID-19 test; (3) that, as a result, the Company’s commercialization timeline would be significantly delayed; and (4) that, 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.
If you suffered a loss in Talis Biomedical Corporation you have until March 8, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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Levi & Korsinsky, LLP announces that a class action lawsuit has been filed on behalf of investors who purchased Discovery, Inc. (DISCA) securities between March 22, 2021 and March 29, 2021.
According to the Discovery, Inc. lawsuit, throughout the Class Period defendants Goldman Sachs and Morgan Stanley sold a large amount of Discovery shares during the class period while in possession of material, non-public information about Archegos Capital Management and its need to fully liquidate its position in the Company because of margin call pressure. As a result of these sales, Goldman Sachs and Morgan Stanley avoided billions in losses combined.
If you suffered a loss in Discovery, Inc. you have until March 8, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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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 Paysafe Limited f/k/a Foley Trasimene Acquisition Corp. II (NYSE: PSFE) securities.
If you suffered a loss on your Paysafe 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 2020 - Nov 10 2021
CASE DETAILS:
(1) Paysafe was being negatively impacted by gambling regulations in key European markets; (2) Paysafe was encountering performance challenges in its Digital Wallet segment; (3) new eCommerce customer agreements were being pushed back; 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 Faraday Future Intelligent Electric Inc. F/K/A Property Solutions Acquisition Corp. (NASDAQ: FFIE) securities.
If you suffered a loss on your Faraday Future 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 28 2021 - Nov 15 2021
CASE DETAILS:
(1) the Company had assets in China frozen by courts, (2) a significant percentage of its deposits for future deliveries were attributable to a single undisclosed affiliate; (3) the Company’s cars were not as close to production as the Company claimed; (4) as a result of previously issued statements that were misleading and/or inaccurate, Faraday Future could not timely file its quarterly report; 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 Docusign, Inc. (NASDAQ: DOCU) securities.
If you suffered a loss on your Docusign 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 27 2020 - Dec 02 2021
CASE DETAILS:
(1) the impact of the Covid-19 pandemic on DocuSign’s business was positive, not negative; (2) DocuSign misrepresented the role that the Covid-19 pandemic had on its growth; (3) DocuSign downplayed the impact that a ‘return to normal’ would have on the Company’s growth and business; 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 Marathon Digital Holdings, Inc. f/k/a Marathon Patent Group, Inc. (NASDAQ: MARA) securities.
If you suffered a loss on your Marathon 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 13 2020 - Nov 15 2021
CASE DETAILS:
(i) the Beowulf Joint Venture, as it related to the Hardin Facility, implicated potential regulatory violations, including U.S. securities law violations; (ii) as a result, the Beowulf Joint Venture subjected Marathon to a heightened risk of regulatory scrutiny; (iii) the foregoing was reasonably likely to have a material negative impact on the Company’s business and commercial 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 HOOD class action lawsuit has been filed on behalf of investors who purchased Robinhood Markets, Inc. (HOOD) pursuant and/or traceable to the Company’s initial public offering conducted in July 2021. For more on the HOOD Lawsuit please contact us today.
According to the lawsuit, documents that the Company issued in connection with its IPO contained representations that were materially inaccurate, misleading, and/or incomplete because they failed to disclose that, at the time of the IPO, Robinhood’s revenue growth was experiencing a major reversal, with transaction-based revenues from cryptocurrency trading serving only as a short-term, transitory injection, masking what was actually stagnating growth. In addition, the Company’s “significant investments” in enhancing the reliability and scalability of its platform were patently inadequate and/or defective, exposing Robinhood to worsening service-level disruptions and security breaches, particularly as the Company scaled its services to a larger user base.
If you suffered a loss in you have until February 15, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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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 Revance Therapeutics, Inc. (NASDAQ: RVNC) securities.
If you suffered a loss on your Revance 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 25 2019 - Oct 11 2021
CASE DETAILS:
(i) quality control deficiencies existed at the Company’s manufacturing facility for DaxibotulinumtoxinA for Injection (“DAXI”); (ii) the foregoing deficiencies decreased the likelihood that the Food and Drug Administration (“FDA”) would approve the DAXI Biologics License Application (“BLA”) in its current form; (iii) accordingly, it was unlikely that the DAXI BLA would obtain FDA approval within the timeframe the Company had represented to investors; 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 Sleep Number Corporation (NASDAQ: SNBR) securities.
If you suffered a loss on your Sleep Number 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 2021 - Jul 20 2021
CASE DETAILS:
(a) Sleep Number had suffered a severe disruption in its supply chain for foam as a result of Winter Storm Uri; (b) Sleep Number did not have in place the supply chain flexibility, redundancies and fail-safes, as had been represented to investors, sufficient to offset the foam supply disruption caused by Winter Storm Uri; (c) because foam was a necessary component for Sleep Number’s production of its primary mattress products, Sleep Number’s ability to timely fulfill customer orders had been materially impaired; (d) as a result of (a)-(c) above, Sleep Number was unable to meet surging customer demand for the Company’s products; and (e) as a result of (a)-(d) above, Sleep Number had been forced to delay mattress shipments to end consumers, pushing millions of dollars’ worth of sales into subsequent quarters and negatively impacting the Company’s 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 Berkeley Lights, Inc. (NASDAQ: BLI) securities.
If you suffered a loss on your Berkeley Lights 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 17 2020 - Sep 14 2021
CASE DETAILS:
(a) Berkeley Lights’ flagship instrument, the Beacon, suffered from numerous design and manufacturing defects including breakdowns, high error rates, data integrity issues and other problems, limiting the ability of biotechnology companies and research institutions to consistently use the machines at scale; (b) Berkeley Lights had received numerous customer complaints regarding the durability and effectiveness of the Company’s automation systems; (c) the actual market for Berkeley Lights’ products and services was a fraction of the $23 billion represented to investors because of, inter alia, the relatively high cost of the Company’s instruments and consumables and inability to provide the sustained performance necessary to justify these high costs; and (d) as a result of (a)-(c), above, defendants’ statements to investors during the Class Period regarding Berkeley Lights’ business, operations and financial results were materially false and misleading.
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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 Organogenesis Holdings Inc. (NASDAQ: ORGO) securities.
If you suffered a loss on your Organogenesis investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Mar 17 2021 - Oct 11 2021
CASE DETAILS:
(i) Organogenesis improperly billed the federal government for its Affinity and PuraPly XT products by, among other things, setting the price for those products multiple times higher than similar products; (ii) the Company improperly induced doctors to use its Affinity and PuraPly XT products through lucrative reimbursements; (iii) as a result of all the foregoing, the Company’s revenue and profits derived from its Affinity and PuraPly XT products were at least in substantial part unsustainable; 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 StoneCo Ltd. (NASDAQ: STNE) securities.
If you suffered a loss on your StoneCo 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 11 2021 - Nov 16 2021
CASE DETAILS:
(1) StoneCo was experiencing difficulties in implementing its credit product; (2) StoneCo faced significant risks via its point-of-sale vendor, PAX Global Technology Ltd.; (3) as a result of the foregoing, the Company’s financial results 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 ViacomCBS Inc. (NASDAQ: VIAC) securities.
If you suffered a loss on your Viacom 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 2021 - Mar 29 2021
CASE DETAILS:
Goldman Sachs and Morgan Stanley sold a large amount of ViacomCBS shares during the Class Period while in possession of material, non-public information about Archegos and its need to fully liquidate its position in the Company because of margin call pressure. As a result of these sales, Defendants Goldman Sachs and Morgan Stanley avoided billions in losses combined.
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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 IQIYI Inc. (NASDAQ: IQ) securities.
If you suffered a loss on your IQIYI 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 2021 - Mar 29 2021
CASE DETAILS:
Goldman Sach and Morgan Stanley confidentially learned that the family office Archegos Capital Management had failed or was likely to fail to meet a margin call, requiring Archegos to liquidate its position in various companies, including iQiyi. Trading on this non-public information, Goldman Sachs and Morgan Stanley reportedly avoided billions of dollars in losses on their iQiyi investments by selling Company securities in late March 2021 before the market learned of Archegos’s difficulties. When this information reached the market, the price of iQiyi securities fell sharply, damaging Company 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 Lightspeed Commerce Inc. (NYSE: LSPD) securities.
If you suffered a loss on your Lightspeed 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 11 2020 - Nov 03 2021
CASE DETAILS:
(i) Lightspeed had misrepresented the strength of its business by, inter alia, overstating its customer count, gross transaction volume, and increase in Average Revenue Per User, while concealing the Company’s declining organic growth and business deterioration; (ii) Lightspeed had overstated the benefits and value of the Company’s various acquisitions; (iii) accordingly, the Company had overstated its financial position and 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 Lightning Emotors, Inc (NYSE: ZEV) securities.
If you suffered a loss on your Lightning Emotors 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 10 2020 - Aug 16 2021
CASE DETAILS:
(i) the Company would record a substantially greater net loss per share in the second quarter of 2021 compared to the second quarter of 2020 and would pull its full year guidance for the remainder of 2021; (ii) accordingly, the Company materially overstated its financial position and/or prospects; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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