SAN FRANCISCO, July 14, 2025 (GLOBE NEWSWIRE) -- firm Iovance Biotherapeutics Inc. (NASDAQ: IOVA) announced a significant leadership transition, confirming the resignation of Chief Financial Officer Jean-Marc Bellemin, effective July 10, 2025. Mr. Bellemin, who assumed the CFO role in November 2020, is reportedly departing to pursue other endeavors, according to a regulatory filing. Bellemin's exit comes at a tumultuous time, as the company is grappling with a recent commercial setback for its flagship drug ...

Core Viewpoint - Hims & Hers Health, Inc. is facing two securities class action lawsuits due to allegations of deceptive marketing practices and failure to disclose critical information, particularly related to its collaboration with Novo Nordisk and the weight loss drug Wegovy® [1][4][5] Group 1: Lawsuits and Allegations - Two class action lawsuits were filed against Hims & Hers Health, Inc. and certain executives, representing investors who acquired securities between April 29, 2025, and June 23, 2025 [1] - The lawsuits allege that Hims & Hers made false and misleading statements and engaged in deceptive promotion of knockoff versions of Wegovy®, which jeopardized patient safety and led to the termination of its collaboration with Novo Nordisk [4][5] - The lawsuits were prompted by Novo Nordisk's announcement on June 23, 2025, that it terminated its collaboration due to concerns over Hims & Hers' illegal practices and deceptive marketing [2][5] Group 2: Investor Impact and Actions - Following the termination of the collaboration, Hims & Hers shares experienced a significant decline of 30% [2] - Hagens Berman, a national shareholders rights firm, is investigating the claims and encourages affected investors to submit their losses [3][6] - The lead plaintiff deadline for the lawsuits is set for August 25, 2025 [3] Group 3: Whistleblower Information - Individuals with non-public information regarding Hims & Hers are encouraged to assist in the investigation or consider the SEC Whistleblower program, which offers rewards for original information leading to successful recoveries [7]

Core Viewpoint - BellRing Brands, Inc. experienced a significant decline in share price following the announcement of anticipated reductions in retailer inventory levels, raising concerns about the company's sales practices and consumer demand for its products [1][4]. Company Overview - BellRing Brands, Inc. is a consumer products holding company that specializes in ready-to-drink (RTD) protein shakes and powders, with its primary brands being Premier Protein and Dymatize [3]. Recent Developments - On May 6, 2025, during its Q2 2025 earnings call, BellRing announced expectations of "third quarter reductions in retailer trade inventory levels," which is projected to create a mid-single-digit headwind to growth [4]. - The company revised its Q3 net sales growth expectations to low-single-digits, attributing Premier Protein as the main driver while other products are expected to remain flat or decline [4]. Market Reaction - Following the announcement, BellRing's share price fell by approximately 19%, translating to a decrease of $14.88 per share [1][4]. Legal Investigation - Hagens Berman, a national shareholders rights firm, has initiated an investigation into whether BellRing may have violated securities laws related to its sales practices, particularly concerning misleading statements about consumer demand and inventory levels [2][5].

SAN FRANCISCO, June 30, 2025 (GLOBE NEWSWIRE) -- On June 25, 2025, two securities class action lawsuits were filed against Hims & Hers Health, Inc. (NYSE: HIMS) and certain of the company’s executives. Sookdeo v. Hims & Hers Health, Inc., et al., No. 3:25-cv-05315 (N.D. Cal.) and Yaghsizian v. Hims & Hers Health, Inc. et al., No. 3:25-cv-05321 (N.D. Cal.). Together, the cases seek to represent investors who purchased or otherwise acquired Hims & Hers securities between April 29, 2025 and June 23, 2025. The ...

Core Viewpoint - Hims & Hers Health, Inc. is facing two securities class action lawsuits following the termination of its collaboration with Novo Nordisk due to concerns over deceptive marketing practices related to the weight loss drug Wegovy® [1][2][4]. Group 1: Lawsuits and Allegations - The lawsuits, filed in Northern California, seek to represent investors who acquired Hims & Hers securities between April 29, 2025, and June 23, 2025 [1][3]. - Allegations include that Hims & Hers made false and misleading statements and failed to disclose critical information regarding the safety and legality of its marketing practices [4][5]. - The complaints specifically mention that the company engaged in deceptive promotion and selling of knockoff versions of Wegovy®, which posed risks to patient safety and jeopardized its collaboration with Novo Nordisk [4][5]. Group 2: Impact of Novo Nordisk's Decision - Novo Nordisk announced the termination of its collaboration with Hims & Hers on June 23, 2025, citing concerns over illegal mass compounding and deceptive marketing practices [2][5]. - The announcement led to a significant 30% drop in the share price of Hims & Hers [2]. - Novo Nordisk emphasized that Hims & Hers failed to comply with legal standards regarding the sale of compounded drugs, which raised serious patient safety concerns [5]. Group 3: Investigation and Investor Actions - Hagens Berman, a national shareholders rights firm, is investigating the legal claims and encourages affected investors to report their losses [3][6]. - The firm is also seeking information from individuals who may assist in the investigation, highlighting the potential for whistleblower rewards under the SEC Whistleblower program [6].

Core Viewpoint - The share price of CTO Realty Growth, Inc. significantly declined following allegations from Wolfpack Research regarding misleading statements about dividend sustainability and questionable financial practices [1]. Group 1: Allegations and Investigations - Hagens Berman, a national shareholders rights firm, has initiated an investigation into CTO Realty Growth, Inc. to determine if the company violated securities laws and is urging affected investors to report their losses [2]. - The investigation focuses on CTO's claims of adhering to accounting rules and the use of non-GAAP accounting metrics, particularly concerning the quality of its real estate portfolio and reported asset values [3][5]. Group 2: Financial Distress and Management Practices - Wolfpack Research's report indicates that CTO's management has misrepresented the quality of its properties, revealing that some are in severe financial distress and that the company relies on dilution to cover a $38 million dividend shortfall [4]. - The report criticizes CTO's definition of Adjusted Funds From Operation (AFFO), claiming it excludes recurring capital expenditures, which is not consistent with industry peers, and suggests that management's compensation is inflated based on this metric [5]. Group 3: Whistleblower Information - Whistleblowers with non-public information about CTO Realty Growth are encouraged to assist in the investigation, with potential rewards under the SEC Whistleblower program for original information leading to successful recovery [6].

Core Viewpoint - Abacus Global Management is facing significant pressure as its stock price has dropped over 36% in the past month due to serious allegations from Morpheus Research regarding financial misconduct and questionable accounting practices [1][5]. Group 1: Allegations and Investigations - Morpheus Research, a new investigative group with ties to Hindenburg Research, published reports accusing Abacus of manipulating its life settlements portfolio through aggressive accounting practices, leading to inflated asset values and "fake revenue" [3][4]. - Hagens Berman, a prominent law firm, has initiated its own investigation into the claims made by Morpheus Research, urging affected shareholders to report their financial losses [2][6]. - The scrutiny intensified after Morpheus's follow-up report alleged inconsistencies in Abacus's rebuttal and introduced claims of undisclosed related-party transactions [4]. Group 2: Company Response and Stock Performance - In response to the allegations, Abacus retained independent actuarial firm Lewis & Ellis to review its balance sheet and reassure investors of compliance with accounting standards [4]. - Despite the company's efforts, including a $20 million share repurchase program aimed at restoring investor confidence, the stock has continued to trade near its 52-week low [5][6]. - The stock experienced a sharp 20% drop in a single day following the initial report from Morpheus [3].

SAN FRANCISCO, June 23, 2025 (GLOBE NEWSWIRE) -- On June 23, 2025 investors in Hims & Hers Health, Inc. (NYSE: HIMS) saw the price of their shares crash over 30% after Novo Nordisk announced that it terminated its collaboration with the telehealth company due to concerns about Hims & Hers’ sales and “deceptive” marketing of the weight loss drug Wegovy®. This news has prompted national shareholders rights firm Hagens Berman to open an investigation into possible violations of the securities laws. The firm ur ...

Core Viewpoint - Compass Diversified is facing significant challenges due to an accounting scandal at its subsidiary Lugano, leading to a stock downgrade and a class action lawsuit from investors, resulting in a loss of over 70% of its market value in three months [1][3][4]. Group 1: Stock Performance and Analyst Actions - Jefferies analysts downgraded Compass Diversified's stock from Buy to Hold due to a deepening investigation into accounting irregularities at Lugano Holdings [2][3]. - The price target for Compass's stock was slashed from $28.00 to $7.30, reflecting zero value assigned to Lugano amid expectations of a prolonged recovery [3]. Group 2: Legal and Regulatory Challenges - A securities class action lawsuit has been filed against Compass, alleging that the company misled investors regarding accounting issues at Lugano, affecting financial statements for 2024 [6][8]. - S&P Global Ratings downgraded Compass's credit rating to 'B-' and placed it on CreditWatch with negative implications due to unreliable financial statements [4]. Group 3: Company Response and Leadership Changes - In response to the crisis, Compass has entered a forbearance agreement with lenders, suspended quarterly distributions, and halted further investments in Lugano [5]. - Leadership changes occurred with Josh Gaynor appointed as interim CEO following the resignation of Lugano's founder, Moti Ferder [5]. Group 4: Historical Context and Future Implications - The acquisition of Lugano in 2021, valued at $256 million, is now viewed as risky due to alleged failures in internal controls that left investors exposed to hidden liabilities [7].

Core Viewpoint - SelectQuote Inc. is facing significant investor pressure due to disappointing quarterly results and ongoing legal issues, leading to a substantial decline in its stock price [1][3]. Financial Performance - For the quarter ended March 2025, SelectQuote reported earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.04 per share [2]. - The company posted revenues of $408.16 million, falling short of the Zacks Consensus Estimate of $417.01 million by 2.12% [2]. Legal Issues - The U.S. Department of Justice (DOJ) announced a lawsuit against SelectQuote and several major health insurers on May 1, 2025, alleging violations of the False Claims Act related to the marketing of Medicare Advantage plans [3][4]. - The lawsuit claims that from 2016 to at least 2021, SelectQuote and other brokers were incentivized to steer beneficiaries toward high-commission plans, potentially disregarding the suitability of those plans [4]. Investor Sentiment - The combination of a weaker-than-expected earnings report and serious legal allegations has heightened concerns regarding SelectQuote's financial stability and operational integrity [5]. - Hagens Berman is investigating potential violations of U.S. securities laws and is encouraging investors who suffered losses to come forward [2][5].