Levi & Korsinsky notifies investors that it has commenced an investigation into Stitch Fix, Inc. (NADSAQ: SFIX) concerning potential violations of the federal securities laws.
Stitch Fix issued a press release on September 24, 2024, "announc[ing] its financial results for the fourth quarter and full fiscal year 2024, ended August 3, 2024." Among other items, Stitch Fix disclosed that with fewer active clients in both the fourth quarter and full year, the Company experienced a 12.4% drop in sales in the quarter, resulting in a wider-than-expected loss. Anticipating declining sales in the first quarter and full year 2025, Stich Fix provided guidance for both the quarter and year that fell short of analyst expectations. Following this news, Stitch Fix's stock price fell over 39% on September 25, 2024.
If you suffered a loss on your Stitch Fix, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Light & Wonder, Inc. (NASDAQ: LNW) concerning potential violations of the federal securities laws.
Aristocrat Technologies ("Aristocrat") sued L&W in the U.S. District Court for the District of Nevada in February 2024, alleging that L&W's "Dragon Train" series of slot machines bears similarities to Aristocrat's own "Dragon Link" series and questioning the role of two former Aristocrat designers in developing "Dragon Train". On September 23, 2024, the court entered an order enjoining L&W from "any continued or planned sale, leasing, or other commercialization of Dragon Train", finding a high likelihood that Aristocrat would prevail on the merits of its lawsuit. Following this news, L&W's stock price fell over 19% on September 24, 2024.
If you suffered a loss on your Light & Wonder, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into 2seventy bio, Inc. (NASDAQ: TSVT) concerning potential violations of the federal securities laws.
2seventy bio issued a press release on September 25, 2024, announcing that it "will discontinue enrollment in its ongoing Phase 3 KarMMa-9 study evaluating Abecma® (idecabtagene vicleucel; ide-cel) with lenalidomide maintenance versus lenalidomide maintenance alone in patients with newly diagnosed multiple myeloma (NDMM) who have suboptimal response to autologous stem cell transplant." Explaining the decision, the Company's Chief Executive Officer cited "a greatly improved NDMM treatment landscape and . . . our rigorous review of the business case for the KarMMa-9 study". Following this news, 2seventy bio's stock price fell over 9% on September 25, 2024.
If you suffered a loss on your 2seventy bio, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into VinFast Auto Ltd. (NASDAQ: VFS) concerning potential violations of the federal securities laws.
VinFast issued a press release on September 20, 2024, reporting the Company's financial results for the second quarter of 2024. Among other items, VinFast reported a gross loss of $224 million for the quarter, which the Company attributed primarily to an impairment charge on Net Residual Value of $104 million. Following this news, VinFast's stock price fell over 7% on September 20, 2024.
If you suffered a loss on your VinFast Auto Ltd. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Harmony Biosciences Holdings, Inc. (NASDAQ: HRMY) concerning potential violations of the federal securities laws.
On March 28, 2023, Scorpion Capital published a report detailing a string of concerns with Harmony’s narcolepsy drug, Wakix (pitolisant). The report raised numerous concerns related to patient health, drug efficacy, and trial reliability, as well as allegations the Company engaged in price-gouging, false advertising, and a significant off-label and physician kickback scheme. Following this news, Harmony’s stock price fell by $10.70 per share to close at $30.80 per share.
If you suffered a loss on your Harmony Biosciences Holdings, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) concerning potential violations of the federal securities laws.
Vanda issued a press release disclosing that "[o]n September 18, 2024, the U.S. Food and Drug Administration (FDA) declined to approve Vanda's New Drug Application (NDA) of tradipitant for the treatment of symptoms in gastroparesis, providing Vanda with a Complete Response Letter (CRL)." Following this news, Vanda's stock price fell sharply during intraday trading on September 19, 2024.
If you suffered a loss on your Vanda Pharmaceuticals Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Progyny, Inc. (NASDAQ: PGNY) concerning potential violations of the federal securities laws.
Progyny disclosed in a filing with the U.S. Securities and Exchange Commission on September 18, 2024, that the Company "was recently notified by a significant client (the ‘Client') that the Client has elected to exercise a 90-day option to terminate its services agreement with the Company, effective as of January 1, 2025." On September 19, 2024, JMP Securities downgraded Progyny to Market Perform from Outperform, stating that "the loss of [Progyny's] largest client causes us to appropriately contemplate the potential for lower retention rates going forward." Following this news, Progyny's stock price fell sharply during intraday trading on September 19, 2024.
If you suffered a loss on your Progyny, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Swvl Holdings Corp. (NASDAQ: SWVL) concerning potential violations of the federal securities laws.
Wolfpack Research ("Wolfpack") published a report on September 17, 2024, entitled "SWVL, a ‘Transportation-as-a-Service' Start-up Appears to Be a Few Breaths Away from Bankruptcy". Citing "research into the company, including on-the-ground due diligence in Egypt", the Wolfpack report alleged, among other things, "that SWVL's operations are grinding to a halt as they run out of money" and that very few rides appeared to be available on the Company's bus-sharing app in Cairo, Swvl's primary market. Following this news, Swvl's stock price fell over 43% on September 17, 2024.
If you suffered a loss on your Swvl Holdings Corp. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Gogoro Inc. (NASDAQ: GGR) concerning potential violations of the federal securities laws.
Gogoro announced the resignation of its Chief Executive Officer Horace Luke on September 13, 2024. Mr. Luke's resignation followed "internal investigations into allegations in recent media reports that the Company incorporated imported components into certain of its vehicles in violation of the requirement of the Taiwan government that certain core components of the electric scooters shall be produced domestically in order to be qualified for the subsidies to purchasers." Gogoro stated that "during such investigations, the Company has identified certain irregularities in supply chain which caused the Company to inadvertently incorporate certain imported components in some of its vehicles." Following this news, Gogoro's stock price fell over 14% on September 16, 2024.
If you suffered a loss on your Gogoro Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Brookfield Business Partners L.P. (NYSE: BBU) concerning potential violations of the federal securities laws.
Brookfield purchased CDK Global ("CDK"), a provider of software to car dealerships, for $6.41 billion in April 2022. The Company's CDK unit announced on June 19, 2024, that it was investigating a cyberattack that resulted in it proactively shutting down all of its systems. This action caused massive disruption for car dealerships across North America. CDK later admitted the cyberattack and also that it was hacked a second time as it tried to restore its services. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
If you suffered a loss on your Brookfield Business Partners L.P. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Adobe Inc. (NASDAQ: ADBE) concerning potential violations of the federal securities laws.
Adobe issued a press release on September 12, 2024, reporting financial results for the third quarter of its fiscal year 2024. Although Adobe reported net new annual recurring revenue of $44 million, exceeding guidance, its fourth quarter outlook fell short of consensus estimates by approximately $21 million. Following this news, Adobe's stock price fell over 8% on September 13, 2024.
If you suffered a loss on your Adobe Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Aviat Networks, Inc. (NASDAQ: AVNW) concerning potential violations of the federal securities laws.
Aviat announced on September 11, 2024, its inability to file the Annual Report on Form 10-K for the fiscal year ending June 28, 2024, within the prescribed deadline. The management of Aviat has reported the discovery of certain material weaknesses during its preliminary assessment of internal controls over financial reporting for the aforementioned fiscal year. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
If you suffered a loss on your Aviat Networks, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Caleres, Inc. (NYSE: CAL) concerning potential violations of the federal securities laws.
Caleres issued a press release on May 29, 2025, reporting its financial results for the first quarter of 2025. Among other items, Caleres reported sales of only $614.2 million, representing a 6.8% year-over-year decline, which Caleres's Chief Financial Officer acknowledged "was below our expectations". The Company also suspended its guidance for 2025, citing "the uncertainty in the environment[.]" Following this news, Caleres's stock price fell over 18% on the same day.
If you suffered a loss on your Caleres, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Flux Power Holdings, Inc. (NASDAQ: FLUX) concerning potential violations of the federal securities laws.
On September 5, 2024, in a filing with the U.S. Securities and Exchange Commission ("SEC"), Flux disclosed that its Board of Directors had "concluded that the previously issued audited consolidated financial statements as of and for the fiscal year ended June 30, 2023 and the unaudited consolidated financial statements as of and for the quarters ended September 30, 2023, December 31, 2023, and March 31, 2024 (collectively, the ‘Prior Financial Statements'), which were filed with the [SEC] on September 21, 2023, November 9, 2023, February 8, 2024 and May 13, 2024, respectively, should no longer be relied upon because of errors in such financial statements relating to the improper accounting for inventory and a restatement should be undertaken. During the Company's preparation of financial statements for the year ended June 30, 2024, it became aware that (i) approximately $1.2 million of excess and obsolete inventory, primarily as a result of a change in battery cells from a new supplier, was not properly reserved or written-off in earlier periods resulting in an overstatement of inventory, and (ii) certain loaner service packs were improperly accounted for as finished goods inventory as of June 30, 2023 resulting in an overstatement of inventory of approximately $0.5 million. As a result, the Company concluded that the errors resulted in (i) an overstatement of inventory, current assets, total assets and accumulated deficit on its balance sheet, and (ii) an understatement of cost of sales and net loss, and overstatement of gross profit on its statement of operations in the Prior Financial Statements. The Company is also evaluating the impact that improper accounting for inventory had on other historical financial statements for previous quarterly and fiscal periods which also could include the audited consolidated financial statements as of and for the years ended June 30, 2022 and 2021, as well as the quarterly unaudited consolidated financial statements within the years ended June 30, 2022, 2021 and 2020." Following this news, Flux's stock price dropped over 5% on September 6, 2024.
If you suffered a loss on your Flux Power Holdings, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Under Armour, Inc. (NYSE: UA) concerning potential violations of the federal securities laws.
Under Armour issued a press release on September 9, 2024, "announc[ing] an update to its Fiscal 2025 restructuring plan, including additional initiatives to optimize the company's strategic supply chain capabilities and overall business performance." Among other items, Under Armour advised that "[f]ollowing further evaluation" of charges to be incurred "in connection with its Fiscal 2025 restructuring plan", Under Armour "now expect approximately $140 million to $160 million of pre-tax restructuring and related charges to be incurred in Fiscal 2025 and Fiscal 2026". Accordingly, Under Armour updated its fiscal 2025 outlook, projecting an operating loss in the range of $220 million to $240 million, compared to previous guidance of $194 million to $214 million. Following this news, Under Armour's stock price fell over 9% on September 10, 2024.
If you suffered a loss on your Under Armour, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Fulcrum Therapeutics, Inc. (NASDAQ: FULC) concerning potential violations of the federal securities laws.
Fulcrum announced on September 12, 2024, that "its Phase 3 REACH trial evaluating losmapimod in patients with FSHD, did not achieve its primary endpoint of change from baseline in RSA with losmapimod compared to placebo. In addition, secondary endpoints did not achieve nominal statistical significance." Following this news, Fulcrum stock dropped 60% in morning trading on the same day.
If you suffered a loss on your Fulcrum Therapeutics, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Acadia Healthcare Company, Inc. (NASDAQ: ACHC) concerning potential violations of the federal securities laws.
The New York Times published a report on September 1, 2024, entitled "How a Leading Chain of Psychiatric Hospitals Traps Patients." The article stated, "Acadia Healthcare is one of America's largest chains of psychiatric hospitals. Since the pandemic exacerbated a national mental health crisis, the company's revenue has soared. [. . .] But a New York Times investigation found that some of that success was built on a disturbing practice: Acadia has lured patients into its facilities and held them against their will, even when detaining them was not medically necessary. In at least 12 of the 19 states where Acadia operates psychiatric hospitals, dozens of patients, employees and police officers have alerted the authorities that the company was detaining people in ways that violated the law, according to records reviewed by The Times. In some cases, judges have intervened to force Acadia to release patients." Following this news, Acadia Healthcare stock fell over 4% on September 3, 2024.
If you suffered a loss on your Acadia Healthcare Company, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into BrightSpring Health Services, Inc. (NASDAQ: BTSG) concerning potential violations of the federal securities laws.
BrightSpring conducted its initial public offering ("IPO") of 53,333,334 shares of common stock priced at $13.00 per share on or around January 25, 2024. Then, on August 2, 2024, BrightSpring issued a press release announcing its financial results for the second quarter of 2024. Among other items, BrightSpring reported non-GAAP earnings per share of $0.10, missing consensus estimates by $0.03 per share. Following this news, BrightSpring's stock price fell over 8% on August 2, 2024.
If you suffered a loss on your BrightSpring Health Services, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Dyne Therapeutics, Inc. (NASDAQ: DYN) concerning potential violations of the federal securities laws.
Dyne issued a press release on September 3, 2024, "announc[ing] new clinical data from its ongoing Phase 1/2 DELIVER trial of DYNE-251 in patients with Duchenne muscular dystrophy (DMD) who are amenable to exon 51 skipping demonstrating unprecedented dystrophin expression and functional improvement in multiple cohorts." However, in a separate press release on that same day, Dyne announced that the Company's chief medical officer, chief operating officer, and chief business officer were "step[ping] down from their roles". Following this news, Dyne's stock price fell over 30% on September 3, 2024.
If you suffered a loss on your Dyne Therapeutics, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Bank of Montreal (NYSE: BMO) concerning potential violations of the federal securities laws.
On August 27, 2024, BoM reported its financial results for the third quarter of 2024, reporting adjusted earnings per share of C$2.64 (US$1.96), which missed consensus estimates for the third consecutive quarter. The Company also increased its provision for credit losses to C$906 million, compared to C$492 million for the same period in the prior year. In response, Jefferies downgraded BoM's stock to Hold from Buy. On this news, BoM's stock price fell over 6% to close at $83.30 per share on August 27, 2024.
If you suffered a loss on your BoM securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Deutsche Bank Aktiengesellschaft (NYSE: DB) concerning potential violations of the federal securities laws.
Deutsche Bank is the subject of a MarketWatch report published on July 24, 2024. According to the report, "Deutsche Bank said it lost €143 million ($155 million), or 28 eurocents a share in the second quarter, after a €1.3 billion provision for litigation on the takeover of Postbank, that it had flagged in April. That is its first loss since 2020, and Deutsche Bank executives said the size of the provision means the bank won't conduct any "top-up" stock buybacks the rest of the year." The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
If you suffered a loss on your Deutsche Bank Aktiengesellschaft securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Icahn Enterprises L.P. (NASDAQ: IEP) concerning potential violations of the federal securities laws.
Icahn is the subject of a Barron's article published on August 19, 2024, that states, "The Securities and Exchange Commission on Monday announced charges against Carl Icahn and Icahn Enterprises ‘for failing to disclose information relating to Icahn's pledges of IEP securities as collateral to secure personal margin loans worth billions of dollars under agreements with various lenders.'" The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
If you suffered a loss on your Icahn Enterprises L.P. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into WisdomTree, Inc. (NYSE: WT) concerning potential violations of the federal securities laws.
On August 6, 2024, WisdomTree disclosed that it had received a Wells Notice from the U.S. Securities and Exchange Commission (“SEC”) advising the Company that the SEC has made a “preliminary determination” to file an enforcement action “alleging violations of certain provisions of the U.S. federal securities laws.” Following this news, WisdomTree’s stock price fell over 2.5% the same day.
If you suffered a loss on your WisdomTree, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Temenos AG (OTC: TMSNY) concerning potential violations of the federal securities laws.
On February 15, 2024, securities analyst Hindenburg Research published a research report titled Temenos: Major Accounting Irregularities, Failed Products and An Illusive Turnaround. In the report, Hindenburg states it “uncovered hallmarks of manipulated earnings and major accounting irregularities [at Temenos]. This includes evidence of roundtripped revenue, sham partnerships, rampant pulling forward of contract renewals, backdated contracts, excessive capitalization of seemingly non-existent R&D investments and other classic accounting red flags.” For example, a former Temenos executive interviewed by Hindenburg stated that one major deal the Company promoted to investors was “a misrepresentation to the market of the reality of where the revenue was,” adding “I would question whether it really was a[n] above the board transaction or not.” The report is the product of Hindenburg’s four-month investigation in which it interviewed 25 former Temenos employees. Following this report, the price of Temenos’ American Depositary Receipts (“ADR”) fell over 28% on February 15, 2024.
If you suffered a loss on your Temenos AG securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Biomea Fusion, Inc. (NASDAQ: BMEA) concerning potential violations of the federal securities laws.
Biomea issued a press release on June 6, 2024, announcing that it "has received notice from the U.S. Food and Drug Administration (FDA) that a full clinical hold has been placed on Biomea's ongoing Phase I/II clinical trials of the Company's investigational covalent menin inhibitor BMF-219 in type 2 and type 1 diabetes (COVALENT-111 and COVALENT-112), respectively." Following this news, shares of Biomea fell over 59% in after hours trading on the same day.
If you suffered a loss on your Biomea Fusion, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Liquidia Corporation (NASDAQ: LQDA) concerning potential violations of the federal securities laws.
On August 19, 2024, Liquidia shares have dropped 35% following an announcement that the FDA has postponed final approval of Liquidia's Yutrepia drug treating adults with pulmonary diseases. The delay has been referred to as a "curveball scenario" by Needham, as the drug was expected to be approved for launch by 4Q24.
If you suffered a loss on your Liquidia Corporation securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Medifast, Inc. (NYSE: MED) concerning potential violations of the federal securities laws.
Medifast reported its quarterly earnings on April 29, 2024. The Company's adjusted earnings per share of $0.66 were considerably below Wall Street estimates of $0.80 per share and much lower than the same period in the previous year. Following this news, shares of Medifast fell over 22% in morning trading on April 30, 2024.
If you suffered a loss on your Medifast securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Syros Pharmaceuticals, Inc. (NASDAQ: SYRS) concerning potential violations of the federal securities laws.
Syros issued a press release on August 12, 2024, "announcing that it will discontinue enrollment in the SELECT-AML-1 Phase 2 clinical trial evaluating the triplet regimen of tamibarotene in combination with venetoclax and azacitidine compared to the doublet regimen of venetoclax and azacitidine in newly diagnosed, unfit patients with acute myeloid leukemia (AML) and RARA gene overexpression." The Company stated that its "decision is based on the results of a prespecified interim analysis of the trial," following which the Syros determined that "the probability for success . . . to demonstrate superiority at the final analysis . . . was considered low[.]" Following this news, Syros's stock price fell over 61% on August 13, 2024.
If you suffered a loss on your Syros Pharmaceuticals securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Endeavour Silver Corp. (NYSE: EXK) concerning potential violations of the federal securities laws.
Endeavour issued a press release on August 12, 2024, disclosing that "the primary ball mill at the Guanacevi mill" in Mexico "has failed and could take up to 12 weeks to replace" and that "[a]s a result, processing of material at the Guanacevi mill has been suspended." The Company further stated that "this downtime will impact Q3 production and is expected to impact annual production and cost guidance." Following this news, Endeavour's stock price fell over 13% on August 12, 2024.
If you suffered a loss on your Endeavour Silver Corp. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Globus Medical, Inc. (NYSE: GMED) concerning potential violations of the federal securities laws.
In a filing with the U.S. Securities and Exchange Commission on August 13, 2024, Globus disclosed that "[o]n July 16, 2024, Globus Medical, Inc. received a warning letter from the U.S. Food and Drug Administration (the ‘FDA') following an inspection of our facilities in Audubon, Pennsylvania. In the warning letter, the FDA cited deficiencies in the response letters sent by the Company to the FDA following the Form 483, List of Investigational Observations, which was delivered to the Company in connection with the inspection that occurred from February 15, 2024 until March 7, 2024. The letter describes observed non-conformities in establishing and maintaining product complaint procedures, including complaint investigations, trending, risk reconciliation, and Medical Device Report (MDR) procedures including timely reporting, pertaining to the ExcelsiusGPS® robotic system." Following this news, Globus's stock price fell over 7% the same day.
If you suffered a loss on your Globus Medical, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into European Wax Center, Inc. (NASDAQ: EWCZ) concerning potential violations of the federal securities laws.
European Wax issued a press release on August 14, 2024, reporting its financial results for the second quarter of its fiscal year. Among other items, European Wax lowered its 2024 revenue forecast to a range of $216 million to $221 million, compared to prior guidance of $225 million to $232 million, and lowered its net income forecast to a range of $19 million to $22 million, compared to prior guidance of $22 million to $25 million. Following this news, European Wax's stock price fell sharply during intraday trading on the same day.
If you suffered a loss on your European Wax securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Applied Materials, Inc. (NASDAQ: AMAT) concerning potential violations of the federal securities laws.
On February 27, 2024, Reuters reported that Applied Materials had received a subpoena from both the SEC and U.S. Attorney's Office for the District of Massachusetts related to China shipments and requested information concerning certain federal award applications. Following this news, Applied Materials' stock price fell 3% on February 27, 2024.
If you suffered a loss on your Applied Materials securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Spruce Biosciences, Inc. (NASDAQ: SPRB) concerning potential violations of the federal securities laws.
Spruce is the subject of a Seeking Alpha report published on March 13, 2024. According to the report, the Company's "stock plunged 75% in post-market trading Tuesday on news that the company plans to cut 21% of its workforce in the wake of a failed Phase 2 study for its drug candidate tildacerfont." The report continues, "The biotech company said the study, called CAHmelia-203, failed to meet its primary endpoint and was being terminated as a result. The study had been evaluating tildacerfont in the treatment of adult classic congenital adrenal hyperplasia, or CAH, with severe hyperandrogenemia." The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
If you suffered a loss on your Spruce Biosciences securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Piedmont Lithium Inc. (NASDAQ: PLL) concerning potential violations of the federal securities laws.
On August 12, 2024, Macquarie downgraded Piedmont Lithium to Neutral from Outperform, citing concerns over the Company's cash generation capabilities and financial commitments. Specifically, Macquarie concluded that the Company's North American Lithium operation is challenged due to high production costs and low realized lithium prices, placing its only cash generation source at risk. Following this news, Piedmont Lithium's stock price fell over 11% the same day.
If you suffered a loss on your Piedmont Lithium securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into AirSculpt Technologies, Inc. (NASDAQ: AIRS) concerning potential violations of the federal securities laws.
AirSculpt released Q2 financial results that missed estimates for both revenue and earnings. The Company also announced that "Todd Magazine has stepped down from his role as Chief Executive Officer and as a member of the Board of Directors of the Company. Mr. Magazine will serve as an advisor to the Company through December 31, 2024." Following this news, shares of AirSculpt dropped over 21% in morning trading on August 9, 2024.
If you suffered a loss on your AirSculpt securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Arhaus, Inc. (NASDAQ: ARHS) concerning potential violations of the federal securities laws.
On August 8, 2024, Arhaus issued a press release announcing its financial results for the second quarter of 2024. Among other items, Arhaus reported revenue of $310 million, representing a year-over-year decline of 0.9% and missing consensus estimates by $4.28 million. Following this news, Arhaus's stock price fell over 12% on August 8, 2024.
If you suffered a loss on your Arhaus securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Enfusion, Inc. (NYSE: ENFN) concerning potential violations of the federal securities laws.
Enfusion conducted its initial public offering ("IPO") on or around October 21, 2021, selling 15.32 million shares of stock priced at $17.00 per share. Then, on August 6, 2024, Enfusion issued a press release reporting its financial results for the second quarter of 2024. Among other items, Enfusion reported non-GAAP earnings per share of $0.05, missing consensus estimates by $0.01, as well as revenue of $49.5 million, missing consensus estimates by approximately $475,000. Following this news, Enfusion's stock price dropped over 7% on August 6, 2024.
If you suffered a loss on your Enfusion 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 Cardlytics, Inc. (NASDAQ: CDLX) securities.
If you suffered a loss on your Cardlytics investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Mar 14 2024 - Aug 07 2024
CASE DETAILS: The filed complaint alleges that Cardlytics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) increasing consumer engagement led to an increase in consumer incentives; (2) the Company could not increase its billings commensurate with the increased consumer engagement; (3) as a result, there was a significant risk that its revenue growth would slow or decline; (4) the changes to Ads Decision Engine, which led to increased consumer engagement, led to the “under-delivery” of budgets and customers billing estimates; 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 notifies investors that it has commenced an investigation into JFrog Ltd. (NASDAQ: FROG) concerning potential violations of the federal securities laws.
JFrog reported financial results on August 7, 2024, for its second quarter ended June 30, 2024, and lowered its guidance for fiscal year 2024, stating “we now expect cloud revenue growth to slow relative to prior expectations.” On this news, the price of the Company’s stock dropped.
If you suffered a loss on your JFrog securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Blueprint Medicines Corporation (NASDAQ: BPMC) concerning potential violations of the federal securities laws.
Blueprint announced top-line results from the registrational Part 2 of its PIONEER clinical trial of AYVAKIT® (avapritinib) on August 17, 2022. The Company disclosed that the absolute improvement in the symptom score fell from 19.7 in the first part of the trial to 15.6 in part 2. Following this news, shares of Blueprint dropped over 10% on the same day. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
If you suffered a loss on your Blueprint securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into The Chemours Company (NYSE: CC) concerning potential violations of the federal securities laws.
Chemours issued a press release on August 1, 2024, reporting its financial results for the second quarter of 2024. Among other items, Chemours reported non-GAAP earnings per share of $0.38, missing consensus estimates by $0.20. The Company advised that it "anticipates a low to mid-single digit sequential decline in Net Sales for the third quarter," citing "[r]esidual impacts from Q2 unplanned downtime at our Altamira, Mexico manufacturing site" in its Titanium Technologies segment; "[r]efrigerant seasonality paired with weaker Freon™ Refrigerants pricing in its Thermal & Specialized Solutions segment; and "[a] continued modest recovery in" its Advanced Performance Materials segment. Following this news, Chemours's stock price dropped over 11% on August 2, 2024.
If you suffered a loss on your The Chemours Company securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into DraftKings Inc. (NASDAQ: DKNG) concerning potential violations of the federal securities laws.
DraftKings issued a press release on August 1, 2024, announcing its financial results for the second quarter of 2024. Among other items, DraftKings reported revenue of $1.1 billion, missing consensus estimates by $20 million. The press release also stated that "DraftKings is revising its fiscal year 2024 Adjusted EBITDA guidance. The Company now expects fiscal year 2024 Adjusted EBITDA of between $340 million and $420 million compared to its prior fiscal year 2024 Adjusted EBITDA guidance of between $460 million and $540 million, which the Company previously announced on May 2, 2024." Following this news, DraftKing's stock price dropped over 9% on August 2, 2024.
If you suffered a loss on your DraftKings securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into NuScale Power Corporation (NYSE: SMR) concerning potential violations of the federal securities laws.
On July 29, 2024, Hunterbrook Media ("Hunterbrook") reported that "[t]he U.S. Securities and Exchange Commission's Division of Enforcement is conducting an ‘active and ongoing' investigation into NuScale", citing the "SEC's July 24 response to an open records request obtained by Hunterbrook[.]" Although the SEC's response to Hunterbrook's request did not provide details regarding the subject of its investigation, Hunterbrook's report noted that "the U.S. Nuclear Regulatory Commission raised significant questions about NuScale's risk mitigation plans for one of its reactor designs" and further asserted that "after a decade and a half of research and development, NuScale has yet to commercialize any reactors." Following this news, NuScale's stock price fell over 12% the same day.
If you suffered a loss on your NuScale securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Chegg, Inc. (NYSE: CHGG) concerning potential violations of the federal securities laws.
Chegg reported financial results for the three months ended June 30, 2024, and announced the Company was taking “$481.5 million of non-cash impairment charges.” Following this news, the price of the Company’s stock dropped on August 5, 2024.
If you suffered a loss on your Chegg securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into TeraWulf Inc. (NYSE: WULF) concerning potential violations of the federal securities laws.
Hunterbrook Media reported that TeraWulf has been falsely branding itself as a "zero-carbon Bitcoin miner." According to Hunterbrook, "The only way TeraWulf can legally substantiate its zero-carbon claims is by purchasing renewable energy credits (RECs), according to New York and federal regulators, but a TeraWulf spokesperson confirmed that the company has not done so." Following this news, Shares of TeraWulf Inc. are down 23% .
If you suffered a loss on your TeraWulf securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into SmartRent, Inc. (NYSE: SMRT) concerning potential violations of the federal securities laws.
SmartRent announced on July 30, 2024, a CEO transition plan under which Lucas Haldeman has stepped down from his position as Chief Executive Officer and resigned from the Board of Directors, effective July 29, 2024. Also on July 30, 2024, the company suspended their 2024 guidance. Following this news, the company's stock fell over 19% the same day.
If you suffered a loss on your SmartRent securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into PepGen Inc. (NASDAQ: PEPG) concerning potential violations of the federal securities laws.
On July 30, 2024, PepGen released data from its ongoing Phase 2 trial of its drug candidate PGN-EDO51. On this news, PepGen stock fell over 45% during intraday trading on July 31, 2024.
If you suffered a loss on your PepGen securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into AvidXchange Holdings, Inc. (NASDAQ: AVDX) concerning potential violations of the federal securities laws.
AvidXchange conducted its initial public offering ("IPO") on or around October 12, 2021, selling 26.4 million shares priced at $25.00. Then, on July 31, 2024, AvidXchange issued a press release announcing its financial results for the second quarter of 2024. Among other items, AvidXchange reported revenue of $105.13 million, missing consensus estimates by $1.75 million. The Company also revised its fiscal year 2024 revenue guidance downward to a range of $436 million to $439 million, compared to previous guidance of $442 million to $448 million. Following this news, AvidXchange's stock price dropped over 29% on July 31, 2024.
If you suffered a loss on your AvidXchange securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Skye Bioscience, Inc. (NASDAQ: SKYE) concerning potential violations of the federal securities laws.
Skye issued a press release on June 10, 2024, "announc[ing] that its Phase 2a clinical trial of SBI-100 Ophthalmic Emulsion ("OE") in patients with primary open-angle glaucoma "POAG") or ocular hypertension ("OHT") did not meet its primary endpoint for lowering intraocular pressure ("IOP"). Skye intends to discontinue clinical development and spending related to SBI-100 OE and any R&D associated with SBI-100, including its ophthalmology pipeline, and direct all clinical development resources to its metabolic program, extending its operating runway into 2027." Following this news, Skye's stock price fell over 8% on June 10, 2024.
If you suffered a loss on your Skye securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Bridger Aerospace Group Holdings, Inc. (NASDAQ: BAER) concerning potential violations of the federal securities laws.
On July 1, 2024, Bridger disclosed in a filing with the U.S. Securities and Exchange Commission that "[i]n response to a comment letter from the staff of the [SEC], Company management has identified an error in the calculation of diluted EPS. The miscalculation affects the Company's previously issued audited consolidated financial statements as of and for the year ended December 31, 2023 and its previously issued unaudited interim condensed consolidated financial statements for each of the first three quarters in the year ended December 31, 2023 (collectively, the ‘Affected Financials') resulting from a miscalculation of net income (loss) attributable to common stockholders - diluted (the ‘numerator') used in the determination of net income (loss) per common stock - diluted (‘diluted EPS') and a difference in the weighted average common stock outstanding - diluted (the ‘denominator') used in the determination of the shares outstanding for diluted EPS for the three months ended March 31, 2023, the six months ended June 30, 2023, the three and nine months ended September 30, 2023, and for the year ended December 31, 2023. The error resulted in a misstatement of diluted EPS in each of the Affected Financials." Accordingly, Bridger stated that it "intends to restate the Affected Financials . . . as soon as practicable." Following this news, Bridger's stock price dropped over 6% on July 1, 2024.
If you suffered a loss on your Bridger securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Pacific Biosciences of California, Inc. (NASDAQ: PACB) concerning potential violations of the federal securities laws.
On April 16, 2024, PACB preannounced poor Q1 2024 top-line results and then announced a significant reduction in its full-year guidance for 2024 as well as a reconsideration of their long-term guidance for fiscal year 2026. PACB attributed it to “an increasing number of customers delay instrument purchases and we experienced some unexpected softness in consumable shipments.” Analysts reacting to the preannounced results were surprised by the significance of the miss and resulting guide down, noting it was “alarming” and “far worse than we expected.” Following this news, PACB’s stock price fell by $1.44 per share to close at $1.40 per share.
If you suffered a loss on your Pacific Biosciences of California, Inc. securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Proto Labs, Inc. (NYSE: PRLB) concerning potential violations of the federal securities laws.
On November 4, 2022, Proto reported Q3 results meeting the low end of its prior guidance and then announced lower than expected guidance for Q4 2024. Proto attributed it to “a decline in our injection molding revenue, predominantly due to the challenging macroeconomic climate” in addition to the negative impacts of foreign currency and “the closure of [Proto’s] Japan operation.” Analysts were skeptical of Proto’s explanation, pointing to increased competition as an alternate contributing factor for the decline. Following this news, Proto’s stock price fell by $11.09 per share to close at $24.62 per share.
If you suffered a loss on your Proto Labs securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Community Health Systems, Inc. (NYSE: CYH) concerning potential violations of the federal securities laws.
Community Health issued a press release on June 19, 2024, "provid[ing] an update on the planned divestiture of two North Carolina hospitals[.]" The press release stated that "[o]n June 18, 2024, Novant Health, Inc., a North Carolina non-profit corporation (‘Novant'), informed [Community Health] that Novant has decided not to move forward with the acquisition of two North Carolina hospitals. The transactions were contemplated by an Asset Purchase Agreement dated February 28, 2023 (as amended, the ‘Purchase Agreement'), by and among Novant and certain subsidiaries of the Company[.]" The press release further stated that "Novant's decision follows a ruling by the Fourth Circuit Court of Appeals", which "issued a temporary injunction blocking the sale to Novant Health, pending final resolution of an appeal by the Federal Trade Commission. The injunction prevented completion of the transaction until the Court of Appeals decides whether to uphold or overturn a previous District Court decision that allowed the sale to proceed." Following this news, Community Health's stock price dropped over 9% on June 20, 2024.
If you suffered a loss on your Community Health securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Zentalis Pharmaceuticals, Inc. (NASDAQ: ZNTL) concerning potential violations of the federal securities laws.
Zentalis announced on June 18, 2024, that "the U.S. Food and Drug Administration (FDA) has placed a partial clinical hold on the following studies of azenosertib: the Phase 1 ZN-c3-001 dose-escalation study in solid tumors, the Phase 2 ZN-c3-005 (DENALI) study in platinum-resistant ovarian cancer (PROC) and the Phase 2 ZN-c3-004 (TETON) study in uterine serous carcinoma (USC)." Following this news, Zentalis's stock price fell over 50% on June 18, 2024.
If you suffered a loss on your Zentalis securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Centuri Holdings, Inc. (NYSE: CTRI) concerning potential violations of the federal securities laws.
On July 29, 2024, Centuri reported its financial results for the second quarter, revealing a Non-GAAP Earnings Per Share of $0.20, which falls short by $0.02 in comparison to market expectations. Additionally, the company's revenue for the quarter was disclosed at $643.39 million, representing a year-over-year decline of 17.0% and missing analyst projections by $117.03 million. Centuri conducted its initial public offering just months earlier on April 18, 2024, and the company sold 12.4 million shares for $21. Since then, the stock has plummeted, and on July 29, 2024, Centuri stock closed at $15.72.
If you suffered a loss on your Centuri securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Dril-Quip, Inc. (NYSE: DRQ) concerning potential violations of the federal securities laws.
On July 8, 2024, Dril-Quip disclosed in a filing with the U.S. Securities and Exchange Commission that it had identified "an error in the classification of certain inventory write-downs from 2021." Specifically, the Company had "misclassified inventory write-downs from 2021 totaling approximately $67 million, including $19.3 million related to the 2018 global strategic plan and approximately $47.7 million due to the discontinuation of certain product categories under the 2021 global strategic plan. The Company classified these charges as ‘Restructuring and other charges'; however, these charges should have been classified in ‘Cost of sales' in the Consolidated Statement of Income (Loss) for the fiscal year ended December 31, 2021, in accordance with ASC 420-10-S99-3. As a result, ‘Cost of sales' was understated and ‘Restructuring and other charges' was overstated by $67 million for the fiscal year ended December 31, 2021 (the ‘Affected Period')." Accordingly, Dril-Quip stated that its prior statements regarding the Affected Period "should no longer be relied upon" and will be restated. Dril-Quip further stated that "the Company's disclosure controls and procedures as of December 31, 2023 were not effective." On this news, Dril-Quip's stock price fell $1.76 per share, or 9.9%, to close at $16.01 per share on July 9, 2024.
If you suffered a loss on your Dril-Quip securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Salesforce, Inc. (NYSE: CRM) concerning potential violations of the federal securities laws.
On May 29, 2024, Salesforce reported its fiscal Q1 2025 financial results. In pertinent part, Salesforce’s reported $9.13 billion in revenue came in below the midpoint of its previously issued guidance range and the current remaining performance obligation growth rate—a key bookings metric—came in below the company’s outlook. Salesforce also issued fiscal Q2 2025 revenue guidance of $9.2 to $9.25 billion, below consensus estimates. Following this news, Salesforce's stock price declined over 20%.
If you suffered a loss on your Salesforce securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into Canaan Inc. (NASDAQ: CAN) concerning potential violations of the federal securities laws.
Canaan issued a press release on August 18, 2023, announcing that, "to ensure legal compliance, the Company decided to temporarily shut down approximately 2.0 Exahash/s of its mining computing power in Kazakhstan since July 2023." The Company added, "The computing power shutdown consists of approximately 50% of the Company's total installed computing power in Central Asia and North America, which totaled 4.0 Exahash/s at the end of the first quarter of 2023." The release concluded, "the challenges outlined above are anticipated to substantially affect the Company's operational mining computing power starting in the third quarter of 2023." Following this news, shares of Canaan fell over 12% on the same day.
If you suffered a loss on your Canaan securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into LifeStance Health Group, Inc. (NASDAQ: LFST) concerning potential violations of the federal securities laws.
LifeStance is the subject of a report published by Hindenburg Research on February 1, 2024, titled: "LifeStance: A Private Equity-Backed Mental Health Rollup Headed For A Breakdown." According to the report, "Overall, we think LifeStance is a classic example of what happens when private equity meets a ‘hot' healthcare sector: Massive debt fueling a grinding, metric-focused corporate culture resulting in worse quality of care for patients, a worse environment for clinicians and long-term losses for the average investor." Following this report, shares of LifeStance dropped over 8% in morning trading on the same day.
If you suffered a loss on your LifeStance securities and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
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Levi & Korsinsky notifies investors that it has commenced an investigation into W. P. Carey Inc. (NYSE: WPC) concerning potential violations of the federal securities laws.
W.P. Carey was downgraded by BMO Capital on September 26, 2023, with analysts "perplexed" by the Company's plan to spin off most of its office portfolio into a new REIT. Following this news, shares of W.P. Carey dropped over 3% the same day. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
If you suffered a loss on your W. P. Carey 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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