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Telix Pharmaceuticals Limited (TLX) Hits Another Roadblock After SEC Subpoena, Shares Fall Again – Hagens Berman
Globenewswire· 2025-09-11 18:32
Core Insights - Telix Pharmaceuticals Limited experienced a significant decline in the price of its American Depositary Shares (ADS), falling approximately 16% after the FDA requested additional data for its kidney cancer detection drug [1] - The company had previously faced a 10% drop in ADS price following the announcement of a subpoena from the SEC regarding its disclosures related to prostate cancer therapeutic candidates [1][3] Company Developments - On August 28, 2025, Telix received a Complete Response Letter (CRL) from the FDA for its Biologics License Application for Zircaix, which is intended for diagnosing clear cell renal cell carcinoma [3] - The CRL highlighted deficiencies in chemistry, manufacturing, and controls, and requested further data to establish comparability between the drug product used in clinical trials and the intended commercial manufacturing process [3] - The FDA also issued notices of deficiency to Telix's third-party manufacturing and supply chain partners, which need to be addressed [3] Legal and Investigative Actions - Hagens Berman, a national shareholders rights firm, is investigating whether Telix misled investors regarding its drug candidates and their development [2][4] - The investigation is particularly focused on the company's statements about its prostate cancer therapeutic candidates and the kidney cancer detection drug [2][4] - Investors who have suffered substantial losses are encouraged to submit their losses to assist in the investigation [2][4]
Celanese Corporation (CE) Drops 13% Amid Another Inventory Destocking Disclosure – Hagens Berman
Globenewswire· 2025-09-10 16:19
Core Viewpoint - Celanese Corporation's share price dropped significantly following disappointing financial results and ongoing inventory destocking issues, leading to an investigation into potential misleading disclosures to investors [1][4][5]. Financial Performance - On August 12, 2025, Celanese reported Q2 2025 financial results, resulting in a share price decline of $6.20 (-13%) due to ongoing inventory destocking issues [1]. - The company experienced a 54% decline in net cash provided by operations for the nine months ended September 30, 2024, compared to the same period in 2023, attributing this to inventory increases and timing of collections [3]. - Subsequent quarterly reports in February and May 2025 continued to show disappointing results, with significant automotive destocking impacting performance [4]. Investigation Details - Hagens Berman has initiated an investigation into Celanese's disclosures regarding sales practices, inventory reporting, and growth trajectory, particularly in the Engineered Materials segment [2][5]. - The investigation is focused on whether Celanese misled investors about overloading customers with excess inventory [5]. Market Reaction - Following the Q3 2024 results announcement, Celanese shares fell 26% the next day, and further declines were observed after subsequent disappointing quarterly reports [3][4].
James Hardie Industries (JHX) Stock Plunges Amid Inventory “Destocking” Revelation -- Hagens Berman
GlobeNewswire News Room· 2025-09-05 17:51
Core Insights - James Hardie Industries experienced a 34% drop in share price following the disclosure of significant issues in its North America business, which is its largest segment [1] - An investigation by Hagens Berman is underway to determine if the company misled investors regarding its sales practices and business model sustainability [1][4] Financial Performance - In May 2025, James Hardie assured investors of a business model capable of "structurally grow through expansions and contractions" [3] - However, on August 19, 2025, the company reported disappointing Q1 2026 results, revealing a 12% year-over-year decline in North America sales volumes due to customer "destocking" [3] Investigation Details - The investigation focuses on when and to what extent James Hardie's management was aware of the inventory destocking and whether this information was properly disclosed to investors [4] - Hagens Berman is examining if the company misled investors by presenting a facade of sustained demand while potentially overloading channel partners with excess products [5]
SelectQuote (SLQT) Faces Investor Lawsuit After DOJ Steps into Medicare Sales Probe – Hagens Berman
GlobeNewswire News Room· 2025-09-04 15:31
Core Viewpoint - SelectQuote Inc. is under legal scrutiny due to a whistleblower lawsuit alleging deceptive sales practices, leading to a significant drop in its stock price and a class-action lawsuit from investors [1][4][5] Legal Issues - The U.S. Department of Justice intervened in a lawsuit claiming SelectQuote misled investors about its business model and regulatory risks, particularly regarding its Medicare Advantage sales practices [1][2][3] - The lawsuit alleges that SelectQuote received tens of millions of dollars in improper payments and directed customers away from lower-margin plans, violating federal statutes including the False Claims Act [3][7] Market Impact - Following the DOJ's involvement, SelectQuote's stock price fell nearly 20% on May 1, 2025, and has since declined over 40% in the past six months, reflecting investor concerns about legal exposure and reputational damage [4][5] Class-Action Lawsuit - The class-action lawsuit, Pahlkotter v. SelectQuote Inc., covers investors who purchased stock between September 9, 2020, and May 1, 2025, alleging that the company failed to disclose material risks related to its sales practices [2][5] - Hagens Berman, the law firm representing the investors, is investigating potential revenue manipulation and deceptive conduct by SelectQuote [6]
Did KinderCare (KLC) Mislead IPO Investors? Lawsuit Alleges Company Concealed History of Child Safety Failures– Hagens Berman
GlobeNewswire News Room· 2025-09-04 15:28
Core Viewpoint - A securities class action lawsuit has been filed against KinderCare Learning Companies, Inc. alleging misleading statements during its October 2024 IPO, which has led to significant investor losses [1][2][4]. Group 1: Lawsuit Details - The lawsuit, Gollapalli v. KinderCare Learning Companies, Inc., claims that KinderCare's IPO documents misrepresented the company's operations, presenting a false image of providing high-quality care while concealing a history of safety and care failures [2][5]. - The lawsuit seeks to represent investors who purchased KLC common stock during or traceable to the IPO [1]. - The lead plaintiff deadline for the lawsuit is set for October 14, 2025 [3]. Group 2: Financial Implications - KinderCare's stock has significantly declined from its IPO offering price of $24 per share to lows near $9 per share, attributed to the market's realization of the misleading nature of the company's statements [4]. - More than 30% of KinderCare's revenues are derived from federal subsidies, making the alleged omissions regarding safety and care failures particularly critical, as they expose the company to undisclosed legal and regulatory risks [3][6]. Group 3: Investigation and Legal Options - Hagens Berman, the law firm investigating these claims, is focused on the extent of KinderCare's alleged concealment of safety and care failures, which may have led to an artificially inflated IPO price and subsequent investor losses [5][6]. - The firm encourages investors who suffered losses to consider their legal options and report any relevant information that may assist in the investigation [6].
Coty Inc. (COTY) Drops 21% Amid Another Retailer Inventory Destocking Disclosure -- Hagens Berman
GlobeNewswire News Room· 2025-09-02 13:33
Core Viewpoint - Coty Inc. experienced a significant drop in share price following the release of its FY 2025 and Q4 financial results, which highlighted ongoing inventory destocking issues and weak revenue performance [1][4]. Company Overview - Coty Inc. is one of the largest beauty companies, with a diverse portfolio that includes fragrance, color cosmetics, and skin and body care products. The company operates through two reporting segments: Prestige and Consumer Beauty, which contributed approximately 65% and 35% of its revenues in 2025, respectively [2]. Financial Performance - In its Q4 report, Coty disclosed substantial year-over-year revenue declines in both its Prestige and Consumer Beauty segments. The company attributed its poor financial results partly to retailers' inventory reduction, a situation it had previously downplayed since the transition to its digital inventory strategy [4]. Investigation Details - Hagens Berman, a national shareholders rights firm, has initiated an investigation into whether Coty misled investors regarding its growth prospects and the effectiveness of its digital inventory strategy, specifically the SAP S/4HANA transition [3][5]. The firm is examining claims that Coty may have overloaded retailers with excess inventory to manage its own inventory buildup and meet earnings expectations [5]. Market Reaction - Following the earnings call and the revelation of inventory issues, Coty's share price fell by $1.05, representing a 21% decrease [1].
Telix Pharmaceuticals Limited (TLX) Hits Another Roadblock After SEC Subpoena, Shares Fall Again -- Hagens Berman
GlobeNewswire News Room· 2025-08-29 20:13
Core Viewpoint - Telix Pharmaceuticals Limited experienced a significant decline in its American Depositary Shares (ADS) price due to regulatory challenges, including a request for additional data from the FDA regarding a kidney cancer detection drug and an ongoing SEC investigation into the company's disclosures [1][3]. Group 1: FDA and SEC Developments - On August 28, 2025, Telix announced that the FDA requested more data for its drug intended to detect a specific type of kidney cancer, leading to a 16% drop in ADS price [1]. - The company received a Complete Response Letter (CRL) from the FDA, citing deficiencies in chemistry, manufacturing, and controls, and requested additional data to establish comparability of the drug product used in clinical trials [3]. - On July 22, 2025, Telix disclosed that it was under investigation by the SEC regarding its disclosures related to prostate cancer therapeutic candidates, which caused a 10% decline in ADS price the following day [1][3]. Group 2: Investigation by Hagens Berman - Hagens Berman, a national shareholders rights firm, is investigating whether Telix misled investors about its drug candidates and is urging affected investors to report their losses [2][4]. - The investigation focuses on the accuracy of Telix's statements regarding its prostate cancer therapeutic candidates and the kidney cancer detection drug [2][4]. - The firm is also encouraging whistleblowers with non-public information about Telix to come forward, as they may be eligible for rewards under the SEC Whistleblower program [4].
Nutex Health (NUTX) Securities Suit Alleges Fraud and Financial Misstatements – Hagens Berman
GlobeNewswire News Room· 2025-08-25 17:38
Core Viewpoint - A class-action lawsuit has been filed against Nutex, alleging fraudulent activities in collaboration with a third-party billing firm, leading to significant investor losses and a decline in stock price [1][2][3]. Group 1: Allegations and Lawsuit Details - The lawsuit claims that Nutex and its partner HaloMD engaged in a scheme to defraud insurance companies by submitting ineligible claims, which inflated Nutex's reported revenues [2][3]. - Blue Orca Capital's report highlighted that HaloMD's operations were based on fraudulent practices, warning that Nutex's stock could revert to penny stock status without unsustainable reimbursement rates [3]. - The class action seeks damages for investors who purchased Nutex securities during the specified class period, asserting that public statements made by the defendants were materially false and misleading [7]. Group 2: Financial Reporting Issues - Nutex is accused of overstating its progress in addressing weaknesses in financial reporting controls, leading to improper accounting of stock-based compensation as equity instead of liabilities [4][6]. - The company's delay in filing its Form 10-Q and failure to adequately respond to allegations contributed to a further decline in stock price, with shares dropping 16.39% to close at $92.91 on August 15, 2025 [5]. Group 3: Company Response and Investigation - Following the allegations, Nutex's Audit Committee concluded that prior financial statements needed restatement due to improper treatment of non-cash obligations [6]. - Hagens Berman is investigating whether Nutex's business model was based on fraudulent practices and whether its financial controls misled investors [8].
CNC Investor Update: Lawsuit Filed Against Centene (CNC) Over Enrollment – Hagens Berman
GlobeNewswire News Room· 2025-08-22 15:50
Core Viewpoint - A securities class-action lawsuit has been filed against Centene Corporation, alleging that the company misrepresented its financial health and market conditions to investors [1][2]. Group 1: Lawsuit Details - The lawsuit, titled Lunstrum v. Centene Corporation, targets investors who purchased Centene securities between December 12, 2024, and June 30, 2025 [1]. - The complaint claims that Centene's leadership provided a misleadingly optimistic view of projected revenue growth, strong enrollment, and low morbidity levels, which contradicted internal data [2]. Group 2: Financial Impact - On July 1, 2025, Centene withdrew its 2025 financial guidance after an independent actuarial review indicated that market growth was "lower than expected" and morbidity levels were "materially inconsistent" with prior assumptions, leading to a stock price drop of over 40% [3]. - Following the lawsuit, Centene reported a Q2 diluted loss per share of -$0.51, attributed to reduced revenue estimates [4]. Group 3: Investigation and Whistleblower Information - Hagens Berman, a national plaintiffs' rights law firm, is investigating claims on behalf of investors who suffered losses, focusing on whether Centene misrepresented its marketplace business health [5]. - The firm encourages whistleblowers with non-public information about Centene to come forward, offering potential rewards of up to 30% of any successful SEC recovery [5].
Hims & Hers (HIMS) Stock Lawsuits: Investors Urged to Act - Hagens Berman
GlobeNewswire News Room· 2025-08-20 19:35
Core Viewpoint - Hims & Hers is facing a securities class action lawsuit due to allegations of misleading statements regarding its GLP-1 weight-loss drug business and a partnership with Novo Nordisk that was abruptly terminated [1][4][5] Group 1: Lawsuit Details - The class action lawsuit represents investors who acquired Hims & Hers securities between April 29, 2025, and June 23, 2025, alleging violations of the Securities Exchange Act of 1934 [3] - The lawsuit claims that Hims & Hers and its executives made false and misleading statements to investors, particularly concerning the partnership with Novo Nordisk [3][4] - The deadline for investors to apply as Lead Plaintiff is August 25, 2025 [2][3] Group 2: Allegations of Misconduct - The core allegations involve Hims & Hers' deceptive promotion and sale of "illegitimate, knockoff versions of Wegovy®," which allegedly jeopardized patient safety and led to the termination of the partnership with Novo Nordisk [4][5] - Novo Nordisk cited Hims & Hers' "deceptive promotion and selling" as the reason for ending the collaboration, which resulted in a stock price drop of over 34% on June 23, 2025 [2][5] Group 3: Investigations and Implications - The Federal Trade Commission (FTC) is investigating Hims & Hers over its advertising and subscription cancellation practices [6] - Hagens Berman is investigating whether Hims & Hers misled investors about its business practices, particularly regarding compounded weight-loss drugs and the terminated partnership [7][8] - The swift termination of the Novo Nordisk deal and the subsequent stock price collapse suggest a potential disconnect between what investors were told and the actual operations of Hims & Hers [8]