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Deadline Alert: Vestis Corporation (VSTS) Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit
GlobeNewswire News Roomยท 2025-06-23 17:00
Core Viewpoint - The article discusses a class action lawsuit against Vestis Corporation due to significant stock price decline following disappointing financial results and misleading statements made by the company regarding its growth and revenue guidance [2][3]. Group 1: Financial Performance - On May 7, 2025, Vestis reported its second quarter fiscal 2025 financial results, revising its growth and revenue guidance for 2025, which fell significantly below market expectations [2]. - The company attributed the poor results to "lost business in excess of new business" and "lower adds over stops," indicating a decline in revenue from existing customers [2]. Group 2: Stock Price Impact - Following the announcement of the disappointing financial results, Vestis's stock price dropped by $3.27, or 37.5%, closing at $5.44 per share on May 7, 2025, resulting in losses for investors [2]. Group 3: Lawsuit Details - The class action lawsuit alleges that during the Class Period, Vestis made materially false and misleading statements and failed to disclose adverse facts about its business and operations [3]. - Specifically, the lawsuit claims that the company was not equipped to achieve its growth guidance, leading to a significant revenue decline from existing customers, which rendered the positive statements misleading [3]. Group 4: Legal Action - Investors who purchased Vestis securities during the Class Period have until August 8, 2025, to file a lead plaintiff motion in the class action lawsuit [1][4].
Deadline Approaching: Vestis Corporation (VSTS) Investors Who Lost Money Urged To Contact Law Offices of Howard G. Smith
Prnewswireยท 2025-06-18 20:05
Core Viewpoint - The article discusses a class action lawsuit against Vestis Corporation due to significant stock price decline following disappointing financial results and misleading statements made by the company regarding its growth and revenue guidance [3][4]. Group 1: Financial Performance - On May 7, 2025, Vestis reported its second quarter fiscal 2025 financial results, revising its growth and revenue guidance for 2025, which fell significantly below market expectations [3]. - The company attributed the poor results to "lost business in excess of new business" and "lower adds over stops," indicating a decline in revenue from existing customers [3]. Group 2: Stock Price Impact - Following the release of the disappointing financial results, Vestis's stock price dropped by $3.27, or 37.5%, closing at $5.44 per share on May 7, 2025, resulting in losses for investors [3]. Group 3: Lawsuit Details - The class action lawsuit alleges that during the Class Period, the defendants made materially false and misleading statements and failed to disclose adverse facts about the company's business and prospects [4]. - Specifically, the lawsuit claims that the company was not equipped to achieve its growth guidance, leading to a significant revenue decline from existing customers, which rendered the defendants' positive statements misleading [4]. Group 4: Legal Actions - Investors who purchased Vestis securities during the Class Period have until August 8, 2025, to file a lead plaintiff motion in the ongoing lawsuit [5].
CLASS ACTION REMINDER: Berger Montague Advises Organon & Co. (NYSE: OGN) Investors to Inquire About a Securities Fraud Lawsuit by July 22, 2025
Prnewswireยท 2025-06-09 19:11
Core Viewpoint - A securities class action lawsuit has been filed against Organon & Co. for alleged misrepresentation regarding its capital allocation priorities and dividend payouts following its acquisition of Dermavant [1][3][4]. Company Overview - Organon & Co. is a healthcare company focused on women's health, headquartered in Jersey City, NJ [2]. - In October 2024, Organon acquired Dermavant, a biopharmaceutical company, for $1.2 billion [2]. Lawsuit Details - The lawsuit claims that despite increasing debt from the Dermavant acquisition, Organon assured investors it would maintain its dividend as its "1 capital allocation priority" [3]. - Following the acquisition, Organon allegedly shifted its capital allocation focus to debt reduction, contrary to its previous assurances [3]. Dividend Changes - On May 1, 2025, Organon announced a significant reduction in its dividend payout from $0.28 per share to $0.02 per share, citing a reset of capital allocation priorities to prioritize deleveraging [4]. - This announcement led to a decline in Organon's stock price by $3.48 per share, approximately 27%, from $12.93 to $9.45 on the following day [4].
Deadline Alert: Iovance Biotherapeutics, Inc. (IOVA) Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit
GlobeNewswire News Roomยท 2025-06-05 17:19
Core Viewpoint - Iovance Biotherapeutics, Inc. faces a class action lawsuit following a significant decline in its financial performance and revenue guidance, leading to a sharp drop in its stock price [1][2][3]. Financial Performance - For Q1 2025, Iovance reported total product revenue of $49.3 million, down from $73.7 million in the previous quarter, indicating a decline of approximately 33% [2]. - The company revised its full fiscal year 2025 revenue guidance from a range of $450 million - $475 million to $250 million - $300 million, representing a reduction of over 40% at the midpoint [2]. Lawsuit Details - The class action lawsuit alleges that Iovance made materially false and misleading statements regarding its business operations and prospects during the class period [3]. - Specific allegations include delays in new Authorized Treatment Centers (ATCs) beginning patient treatments, inefficiencies in patient identification and selection, and resulting higher costs and lower revenues due to ATCs not keeping pace with manufactured products [3]. Legal Action - Investors who purchased Iovance securities during the class period have until July 14, 2025, to file a lead plaintiff motion in the class action lawsuit [1][4].
Deadline Alert: Digimarc Corporation (DMRC) Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit
GlobeNewswire News Roomยท 2025-06-02 16:00
Core Viewpoint - Digimarc Corporation is facing a class action lawsuit due to significant declines in subscription revenue and annual recurring revenue, which were not disclosed to investors during the class period [2][3]. Financial Performance - On February 26, 2025, Digimarc reported a 10% drop in quarterly subscription revenue and a decrease in annual recurring revenue by approximately $2 million, primarily due to a $5.8 million decrease in ARR from a commercial contract expiration in June 2024 [2]. - Following the announcement, Digimarc's stock price fell by $11.65, or 43.1%, closing at $15.39 per share on February 27, 2025 [2]. Lawsuit Details - The class action complaint alleges that Digimarc's management made materially false and misleading statements and failed to disclose adverse facts about the company's business and prospects [3]. - Specific allegations include the failure to disclose that a major commercial partner would not renew a significant contract on the same terms, leading to renegotiation and adverse effects on subscription and annual recurring revenue [3]. Class Action Participation - Investors who purchased Digimarc securities during the class period can file a motion to be appointed as lead plaintiff by July 8, 2025 [4].
Deadline Alert: NET Power Inc. (NPWR) Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit
GlobeNewswire News Roomยท 2025-06-02 16:00
Core Viewpoint - The article discusses a class action lawsuit against NET Power Inc. due to significant delays and cost overruns related to its Project Permian, which has negatively impacted the company's stock price and investor confidence [1][6]. Financial Performance and Events - On November 14, 2023, NET Power announced a delay in its Project Permian, pushing the expected operational date from 2026 to between the second half of 2027 and the first half of 2028, citing global supply chain issues [2]. - Following this announcement, NET Power's stock price dropped by $2.47, or 18.5%, closing at $10.85 per share [3]. - On March 10, 2025, the company revealed that the cost estimate for Project Permian had risen significantly, with total installed costs now estimated between $1.7 billion and $2 billion, leading to another stock price decline of $2.18, or 31.5%, closing at $4.75 per share [4]. - On April 15, 2025, the departure of key executives resulted in a further stock price decrease of $0.13, or 5.8%, closing at $2.13 per share [5]. Lawsuit Details - The class action lawsuit alleges that NET Power made materially false and misleading statements regarding the project's timeline and costs, failing to disclose the likelihood of delays and increased expenses due to supply chain issues and other challenges [6]. - Investors who purchased NET Power securities during the class period (June 9, 2023, to March 7, 2025) are encouraged to file a lead plaintiff motion by June 17, 2025 [1][7].
TMCI Deadline: TMCI Investors with Losses in Excess of $100K Have Opportunity to Lead Treace Medical Concepts, Inc. Securities Fraud Lawsuit
Prnewswireยท 2025-05-30 18:55
Core Viewpoint - Rosen Law Firm is reminding investors who purchased Treace Medical Concepts, Inc. securities during the specified Class Period of the upcoming lead plaintiff deadline for a class action lawsuit [1] Group 1: Class Action Details - The Class Period for the Treace Medical securities is from May 8, 2023, to May 7, 2024 [1] - Investors may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1] - A class action lawsuit has already been filed, and interested parties must move the Court to serve as lead plaintiff by June 10, 2025 [2] Group 2: Law Firm Credentials - Rosen Law Firm has a strong track record in securities class actions, having achieved the largest settlement against a Chinese company at the time [3] - The firm was ranked No. 1 by ISS Securities Class Action Services for the number of settlements in 2017 and has consistently ranked in the top 4 since 2013 [3] - In 2019, the firm secured over $438 million for investors [3] Group 3: Case Allegations - The lawsuit alleges that Treace Medical made false or misleading statements regarding competition affecting the demand for its primary product, the Lapiplasty 3D Bunion Correction System [4] - It is claimed that Treace Medical's revenue declined, necessitating an acceleration of plans to offer an alternative product to osteotomy [4] - The lawsuit asserts that the positive statements made by the defendants about the company's business and prospects were materially misleading [4]
CLASS ACTION REMINDER: Berger Montague Advises Open Lending Corporation (NASDAQ: LPRO) Investors to Inquire About a Securities Fraud Lawsuit by June 30, 2025
Prnewswireยท 2025-05-21 19:44
Core Viewpoint - A securities class action lawsuit has been filed against Open Lending Corporation for misrepresentation and failure to disclose significant financial issues during the Class Period from February 24, 2022, to March 31, 2025 [1][3]. Group 1: Lawsuit Details - The lawsuit is on behalf of investors who purchased Open Lending securities during the specified Class Period [1][2]. - Investors have until June 30, 2025, to seek appointment as lead plaintiff representative of the class [2]. Group 2: Allegations Against the Company - The complaint alleges that Open Lending misrepresented its risk-based pricing models and profit share revenue [3]. - It is claimed that the company failed to disclose that its 2021 and 2022 vintage loans were worth significantly less than their outstanding balances [3]. - The underperformance of the company's 2023 and 2024 vintage loans was also misrepresented [3]. Group 3: Financial Impact and Company Response - On March 17, 2025, Open Lending announced it would delay its Annual Report for 2024, leading to a 9% drop in share price to $3.91 [4]. - The company reported a quarterly revenue of negative $56.9 million for Q4 2024, attributed to an $81.3 million reduction in estimated profit share revenues due to heightened delinquencies and defaults [5]. - Open Lending identified three factors contributing to the reduction in estimated profit share: deterioration of 2021 and 2022 vintages, underperformance of 2023 and 2024 vintages, and continued elevated delinquencies [5]. - Following the financial disclosure, the share price plummeted 57% to $1.17 on April 1, 2025 [6].
IOVA Investors Have the Opportunity to Lead the Iovance Securities Fraud Lawsuit with Faruqi & Faruqi, LLP
GlobeNewswire News Roomยท 2025-05-18 12:47
Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Iovance Biotherapeutics, Inc. due to significant declines in revenue and misleading statements made by the company regarding its business operations and prospects [2][4]. Financial Performance - Iovance reported a quarterly total product revenue of $49.3 million for Q1 2025, down from $73.7 million in the previous quarter, indicating a substantial decline [5]. - The company revised its full fiscal year 2025 total product revenue guidance from a range of $450 million - $475 million to $250 million - $300 million, representing a reduction of over 40% at the midpoint [5]. Legal Proceedings - A federal securities class action has been filed against Iovance, with a deadline of July 14, 2025, for investors to seek the role of lead plaintiff [2][7]. - The complaint alleges that Iovance made materially false and misleading statements and failed to disclose adverse facts about its business, including issues with new Authorized Treatment Centers (ATCs) and patient treatment timelines [4]. Market Reaction - Following the release of the disappointing financial results, Iovance's share price fell by $1.42, or 44.8%, closing at $1.75 per share on May 9, 2025, with unusually high trading volume [6].
IBTA Investors Have the Opportunity to Lead the Ibotta Securities Fraud Lawsuit with Faruqi & Faruqi, LLP
GlobeNewswire News Roomยท 2025-04-29 15:16
Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Ibotta, Inc. due to alleged violations of federal securities laws related to misleading statements about its contract with Kroger and subsequent financial performance, leading to significant investor losses. Group 1: Legal Investigation and Claims - Faruqi & Faruqi, LLP is encouraging investors who suffered losses exceeding $100,000 in Ibotta to contact them for legal options [1] - The firm is investigating claims against Ibotta and reminds investors of the June 16, 2025 deadline to seek the role of lead plaintiff in a federal securities class action [3] - The complaint alleges that Ibotta and its executives made false statements and failed to disclose risks regarding their at-will contract with Kroger, which could be canceled without warning [5] Group 2: Financial Performance and Stock Impact - Ibotta conducted its IPO on April 13, 2024, offering 6.6 million shares at $88.00 each [6] - On August 13, 2024, Ibotta reported a net loss of $34.0 million for Q2 2024, with operating expenses more than doubling year-over-year, and provided a revenue forecast below consensus estimates [7] - Following the Q2 report, Ibotta's stock dropped by $15.53 per share, or 26%, closing at $42.66 on August 14, 2024 [8] - On February 26, 2025, Ibotta's shares fell by $29.08 per share, or 46%, closing at $34.01 after reporting Q4 earnings that missed expectations and provided weak guidance for Q1 2025 [8]