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SOC 1-WEEK DEADLINE ALERT: Lawsuit Accuses Sable Offshore (SOC) of Misleading Investors on Oil Production – Hagens Berman
Globenewswire· 2025-09-19 13:14
SAN FRANCISCO, Sept. 19, 2025 (GLOBE NEWSWIRE) -- A securities class-action lawsuit has been filed against Sable Offshore Corp. (NYSE: SOC) and its executives, alleging the company misled investors about the restart of its oil production off the California coast. The litigation, filed in California federal court, claims the company used a false press release to artificially inflate its stock price just before a secondary public offering (SPO), resulting in significant investor losses. Hagens Berman urges Sa ...
LMT 8-DAY DEADLINE ALERT: Did Lockheed Martin (LMT) Mislead Investors on Financial Health? -- Hagens Berman
Prnewswire· 2025-09-19 00:47
Core Viewpoint - A securities class action lawsuit has been filed against Lockheed Martin Corporation, alleging that the company misled investors regarding its financial health and internal controls from January 23, 2024, to July 21, 2025 [1][2]. Group 1: Allegations and Misrepresentations - The lawsuit claims Lockheed Martin overstated its operational capabilities, particularly in the Aeronautics and Rotary and Mission Systems (RMS) segments, while lacking effective internal controls to assess program risks [2][4]. - It is alleged that the company failed to disclose significant potential losses due to inadequate internal controls, which misled investors about the company's true financial condition [2][5]. Group 2: Impact of Disclosures - A series of negative disclosures led to significant stock price drops, with shares falling nearly 11% following the final disclosure [3]. - Specific financial losses reported include $1.8 billion in pre-tax losses in the Aeronautics segment on January 28, 2025, and an additional $950 million and $570 million in pre-tax losses for the Aeronautics and RMS segments, respectively, disclosed on July 22, 2025 [6]. Group 3: Investigation and Legal Actions - Hagens Berman is investigating the claims on behalf of investors who suffered substantial losses, focusing on whether the company's internal control issues were known to executives [4][5]. - The firm encourages investors with losses to contact them before the September 26, 2025, deadline for the lead plaintiff [2].
SOC 9-DAY DEADLINE ALERT: Lawsuit Accuses Sable Offshore (SOC) of Misleading Investors on Oil Production– Hagens Berman
Globenewswire· 2025-09-17 12:48
Core Viewpoint - A securities class-action lawsuit has been filed against Sable Offshore Corp. and its executives for allegedly misleading investors regarding the restart of oil production, which led to significant investor losses [1][2]. Group 1: Allegations and Legal Proceedings - The lawsuit, Johnson v. Sable Offshore Corp., represents investors who purchased shares between May 19, 2025, and June 3, 2025, including those who participated in the secondary public offering on May 21, 2025 [2]. - Sable Offshore issued a press release on May 19 claiming it had restarted oil production, which was later challenged by California's Lieutenant Governor, stating that the activities were only "well-testing procedures" [2]. - The alleged deception was revealed on May 28, 2025, when the Lieutenant Governor's letter became public, causing Sable's stock price to drop by over 15% [3]. - On June 4, 2025, a Santa Barbara County Superior Court judge issued a temporary restraining order against Sable, prohibiting oil transportation through the Las Flores Pipeline System, further impacting the stock price [3]. Group 2: Legal and Investigative Actions - The lawsuit seeks to hold Sable Offshore and its underwriters accountable for raising capital under false pretenses [4]. - Hagens Berman, a national shareholder rights firm, is investigating the claims and assessing whether the company's statements about oil production and subsequent judicial actions were part of a pattern of misleading behavior [5]. - Whistleblowers with non-public information regarding Sable Offshore are encouraged to assist in the investigation, with potential rewards under the SEC Whistleblower program [5].
Lawsuit Accuses Sable Offshore (SOC) of Misleading Investors on Oil Production- Hagens Berman
Prnewswire· 2025-09-17 01:33
Core Viewpoint - A securities class-action lawsuit has been filed against Sable Offshore Corp. and its executives, alleging that the company misled investors regarding the restart of its oil production, which led to significant investor losses [1][2]. Group 1: Allegations and Legal Proceedings - The lawsuit, Johnson v. Sable Offshore Corp., represents investors who purchased shares between May 19, 2025, and June 3, 2025, including those who participated in the secondary public offering on May 21, 2025 [2]. - Sable Offshore issued a press release on May 19 claiming it had restarted oil production, which was later challenged by California's Lieutenant Governor, stating that the activities were only "well-testing procedures" [2]. - The alleged deception was exposed on May 28, 2025, when the Lieutenant Governor's letter became public, causing Sable's stock price to plummet by over 15% [3]. Group 2: Impact on Stock and Legal Consequences - Following the exposure of the misleading statements, a Santa Barbara County Superior Court judge issued a temporary restraining order on June 4, 2025, prohibiting Sable from transporting oil through the Las Flores Pipeline System, leading to further declines in the stock price [3]. - The lawsuit seeks to hold Sable Offshore and its underwriters accountable for allegedly raising capital under false pretenses [4]. Group 3: Investigation and Whistleblower Information - Hagens Berman, a national shareholder rights firm, is investigating the claims against Sable Offshore, focusing on whether the company's statements about oil production and subsequent judicial intervention were part of a pattern of misleading behavior [5]. - Whistleblowers with non-public information regarding Sable Offshore are encouraged to consider their options to assist in the investigation or participate in the SEC Whistleblower program, which offers rewards for original information [5].
KinderCare (KLC) Faces Investor Lawsuit Over IPO After Allegations of Child Neglect Surface - Hagens Berman
Prnewswire· 2025-09-16 22:28
Core Viewpoint - A securities class action lawsuit has been filed against KinderCare Learning Companies, Inc. alleging that the company misled investors during its October 2024 IPO, claiming that the IPO documents presented a false image of the company's operations [1][4]. Group 1: Allegations and Claims - The lawsuit claims that KinderCare's IPO documents misrepresented the quality of care provided, stating it offered "the highest quality care possible" while concealing a history of serious safety and care failures [1][5]. - More than 30% of KinderCare's revenues are derived from federal subsidies, making the alleged omissions regarding safety and care failures particularly significant, as they expose the company to undisclosed legal and regulatory risks [2][3]. - Since the IPO, KinderCare's stock has significantly declined from an 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 positive statements [3][4]. Group 2: Legal Investigation and Actions - Hagens Berman is investigating the claims against KinderCare and encourages affected investors to consider their legal options, focusing on the alleged concealment of safety and care failures that led to an inflated IPO price [4][5]. - The firm is examining whether the failure to disclose key risks constitutes a violation of U.S. securities laws, emphasizing the disconnect between KinderCare's presentation to investors and the actual operational realities [5][6].
LMT Lawsuit: Did Lockheed Martin (LMT) Mislead Investors on Financial Health? – Hagens Berman
Globenewswire· 2025-09-15 17:24
Core Viewpoint - A securities class action lawsuit has been filed against Lockheed Martin Corporation, alleging misleading financial disclosures and inadequate internal controls regarding program risks, impacting investors who purchased shares between January 23, 2024, and July 21, 2025 [1][2]. Group 1: Allegations and Claims - The lawsuit claims Lockheed Martin overstated its operational capabilities in the Aeronautics and Rotary and Mission Systems segments, failing to disclose significant internal control deficiencies [2]. - It is alleged that the company incurred substantial undisclosed losses due to these internal control failures, which misled investors about the company's financial health [2][4]. - The investigation by Hagens Berman focuses on whether the losses were a foreseeable result of these internal control issues and if management was transparent about the associated risks [4][5]. Group 2: Impact on Stock Price - Following a series of negative disclosures, Lockheed Martin's stock price experienced significant declines, including a nearly 11% drop on the final disclosure [3]. - The company reported $1.8 billion in pre-tax losses in its Aeronautics segment on January 28, 2025, and further losses of $950 million and $570 million in subsequent disclosures related to the Aeronautics and RMS segments, respectively [8]. Group 3: Legal and Investigative Actions - Hagens Berman is actively encouraging investors who suffered substantial losses to come forward and assist in the investigation [2][4]. - The firm is examining the systemic nature of the losses across different programs, suggesting a broader issue rather than isolated incidents [5].
SOC 13-DAY DEADLINE ALERT: Sable Offshore (SOC) Sued for Misleading Investors on Oil Production – Hagens Berman
Globenewswire· 2025-09-13 19:43
Core Viewpoint - A class-action lawsuit has been filed against Sable Offshore Corp. and its executives, alleging misrepresentation of oil production status to investors, which led to an artificial inflation of stock price prior to a secondary public offering [1][6]. Group 1: Lawsuit Details - The lawsuit, Johnson v. Sable Offshore Corp., involves investors who purchased Sable Offshore securities between May 19, 2025, and June 3, 2025, including those who bought shares in the May 21, 2025, secondary public offering [2]. - The complaint states that Sable Offshore issued a misleading press release on May 19, 2025, claiming a restart of oil production, which was later challenged by California Lieutenant Governor Eleni Kounalakis, clarifying that the activities were merely well-testing procedures [3]. - Following the public disclosure of the Lieutenant Governor's letter on May 28, 2025, Sable Offshore's stock price dropped over 15% as the market recognized the inaccuracies in the company's statements [4]. Group 2: Legal and Financial Implications - On June 4, 2025, Sable Offshore faced further legal issues when a Santa Barbara County Superior Court judge issued a temporary restraining order preventing the company from restarting oil transportation through the Las Flores Pipeline System, leading to additional stock price declines [5]. - The lawsuit seeks to hold Sable Offshore and its underwriters accountable for raising capital under false pretenses, resulting in significant investor losses [6]. Group 3: Investigation and Whistleblower Information - Hagens Berman is investigating the claims on behalf of investors who have suffered substantial losses, focusing on whether the company's public statements accurately reflected its operational reality [7]. - Whistleblowers with non-public information regarding Sable Offshore are encouraged to assist in the investigation or utilize the SEC Whistleblower program, which offers rewards of up to 30% of any successful recovery made by the SEC [7].
Sable Offshore (SOC) Sued for Misleading Investors on Oil Production - Hagens Berman
Prnewswire· 2025-09-12 17:57
Core Viewpoint - A class-action lawsuit has been filed against Sable Offshore Corp. for allegedly misrepresenting its oil production status, which led to inflated stock prices prior to a secondary public offering [1][2][6]. Group 1: Allegations and Legal Proceedings - The lawsuit, Johnson v. Sable Offshore Corp., targets investors who purchased securities between May 19, 2025, and June 3, 2025, including those involved in the May 21, 2025 secondary public offering [2][6]. - Sable Offshore issued a press release on May 19, 2025, claiming a restart of oil production, which was later challenged by California Lieutenant Governor Eleni Kounalakis, stating the activities were merely well-testing procedures [3][4]. - Following the Lieutenant Governor's letter on May 28, 2025, Sable Offshore's stock price dropped over 15% as the market recognized the inaccuracies in the company's statements [4]. Group 2: Impact on Stock and Company Operations - On June 4, 2025, Sable Offshore disclosed a temporary restraining order from a Santa Barbara County Superior Court judge, preventing the company from restarting oil transportation through the Las Flores Pipeline System, which further impacted the stock price negatively [5]. - The lawsuit seeks to hold Sable Offshore and its underwriters accountable for raising capital under false pretenses, resulting in significant investor losses [6]. Group 3: Investigation and Whistleblower Information - Hagens Berman is investigating the claims on behalf of investors who suffered substantial losses, focusing on whether the company's public statements accurately reflected its operational reality [7]. - Whistleblowers with non-public information regarding Sable Offshore are encouraged to assist in the investigation, with potential rewards under the SEC Whistleblower program [7].
Synopsys, Inc. (SNPS) Shares Suffer Worst Day Ever Amid Q325 Results Revealing Problems With Major Foundry Customer -- Hagens Berman
Businesswire· 2025-09-11 22:10
Core Viewpoint - Synopsys, Inc. experienced a significant decline in share price, dropping over $216 (-36%) following the release of its Q3 2025 financial results, which revealed major issues with a key foundry customer [1][4]. Financial Performance - In Q3 2025, Synopsys reported a negative guidance for Q4 2025 GAAP EPS, estimating between negative $0.27 to negative $0.16 [4]. - The company's underperformance in its IP business was attributed to challenges with a major foundry customer, which had a considerable impact on the overall year [4]. Customer Relations - Synopsys had previously assured investors that the reduction in R&D spending by its largest customer, Intel, would not significantly affect its EDA software business, citing committed agreements [3][4]. - The recent financial results have raised questions about whether Synopsys misled investors regarding risks associated with its high concentration of business with a single customer [5]. Legal and Investigative Actions - Hagens Berman, a national shareholders rights firm, has initiated an investigation into Synopsys to determine if the company misled investors about customer risks and growth prospects [2][5]. - The firm is encouraging investors who have suffered losses to come forward and assist in the investigation [2][5].
Investor Lawsuit Targets Replimune (REPL) After FDA Deems RP1 Trial Inadequate - Hagens Berman
Prnewswire· 2025-09-04 13:30
Core Viewpoint - A securities class action lawsuit has been filed against Replimune Group, Inc. alleging that the company misled investors regarding the success of its cancer drug RP1, resulting in a 77% stock price crash after the FDA rejected its application [1][2]. Group 1: Lawsuit Details - The lawsuit, Jboor v. Replimune Group, Inc., represents investors who purchased Replimune securities between November 22, 2024, and July 21, 2025 [1][2]. - The FDA issued a "Complete Response Letter" on July 22, 2025, rejecting the Biologics License Application for RP1, which led to a significant sell-off and a 77% decline in stock price [2][4]. Group 2: Allegations of Misleading Information - The lawsuit claims that Replimune presented an overly optimistic view of the drug's prospects, failing to disclose regulatory concerns that contributed to the stock's collapse [3][4]. - The FDA's rejection letter indicated that the IGNYTE trial was not "well-designed" and lacked substantial evidence of effectiveness due to issues such as patient heterogeneity and flawed design [6][7]. Group 3: Investigation and Implications - Hagens Berman is investigating whether Replimune misled investors about the IGNYTE trial, which was central to the drug's application [5][6]. - The investigation focuses on whether management was aware of the trial's fundamental weaknesses and did not disclose them to investors [6][7].