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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].
Sable Offshore (SOC) Sued for Misleading Investors on Oil Production – Hagens Berman
GlobeNewswire News Room· 2025-08-29 15:37
Core Viewpoint - A class-action lawsuit has been filed against Sable Offshore Corp. and its executives for allegedly misrepresenting the company's oil production status, which led to inflated stock prices prior to a secondary public offering [1][6]. Group 1: Allegations and Legal Proceedings - The lawsuit, Johnson v. Sable Offshore Corp., covers investors who purchased securities between May 19, 2025, and June 3, 2025, including those who bought shares during the May 21, 2025 secondary public offering [2]. - 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 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 by more than 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 litigation 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, with potential rewards of up to 30% of any successful recovery made by the SEC [7].
Replimune (REPL) Faces Investor Lawsuit Following 77% Stock Crash After FDA Rejects Key Drug - Hagens Berman
GlobeNewswire News Room· 2025-08-25 20:17
Core Viewpoint - Replimune Group, Inc. faces a securities class action lawsuit following the FDA's rejection of its cancer drug RP1, which led to a significant drop in stock value and allegations of misleading investors regarding trial data and regulatory risks [1][2][3]. 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, with a lead plaintiff deadline set for September 22, 2025 [2]. - The FDA issued a Complete Response Letter (CRL) on July 22, 2025, halting the approval process for RP1, which was intended for advanced melanoma treatment [2][5]. Group 2: Market Reaction - Following the FDA's announcement, Replimune's stock plummeted by 77% in a single day, resulting in billions in lost market value [3]. Group 3: Allegations of Misleading Information - The lawsuit claims Replimune provided a false sense of security by emphasizing prior FDA designations and trial data while failing to disclose critical issues with the IGNYTE trial's design [4][7]. - The FDA's CRL indicated that the IGNYTE trial was not adequately designed to provide substantial evidence of effectiveness, which was not disclosed to investors [4][5]. Group 4: FDA's Rejection Reasons - The FDA's rejection was based on undisclosed methodological issues in the IGNYTE trial, including patient heterogeneity and flaws in the planned confirmatory trial [8][5]. - The agency found the patient population too varied to draw reliable conclusions about the drug's effectiveness and questioned the evaluation of individual contributions in combination therapy [8]. Group 5: Investigation by Hagens Berman - Hagens Berman is investigating whether Replimune misled investors about the FDA's concerns, emphasizing the importance of transparency when a company's valuation relies on a single trial [9].
LMT Investor Update: Securities Lawsuit Hits Lockheed Martin (LMT) Over Program Losses -- Hagens Berman
GlobeNewswire News Room· 2025-08-22 15:58
Core Viewpoint - A securities class action lawsuit has been filed against Lockheed Martin Corporation, alleging misleading statements regarding the financial health of its Aeronautics and Rotary and Mission Systems (RMS) segments, impacting investors who purchased shares between January 23, 2024, and July 21, 2025 [1][2]. Allegations and Financial Fallout - The lawsuit claims Lockheed Martin failed to disclose ineffective internal controls and procedures for assessing program risks, leading to an overstatement of its ability to meet contractual commitments [2]. - The company reported significant pre-tax losses, including $1.8 billion in the Aeronautics segment on January 28, 2025, and an additional $950 million in pre-tax losses for the Aeronautics segment and $570 million for the RMS segment on July 22, 2025, attributed to issues with the Canadian Maritime Helicopter Program [6]. Investor Impact - Following negative disclosures, Lockheed Martin's stock price experienced a notable decline, with shares dropping almost 11% on the final disclosure [3]. - Hagens Berman is investigating these claims on behalf of investors who suffered substantial losses during the class period [4][5]. Company Management Changes - The resignation of the CFO was announced on April 17, 2025, which may indicate underlying issues within the company's management and financial reporting [6].
SOC Update: Lawsuit Alleges Sable Offshore Misled Investors on Oil Production – Hagens Berman
GlobeNewswire News Room· 2025-08-22 15:38
Core Viewpoint - A class-action lawsuit has been filed against Sable Offshore Corp. for allegedly misrepresenting its oil production status, leading to significant investor losses during a specific period in 2025 [1][2]. Allegations and Regulatory Scrutiny - The lawsuit claims that Sable Offshore and its SPO underwriters misled investors by stating that oil production had resumed off the California coast, which was contradicted by California Lieutenant Governor Eleni Kounalakis, clarifying that the activities were merely "well-testing procedures" [2]. - Following the revelation, Sable Offshore's stock price dropped over 15% on May 28, 2025 [2]. Judicial Intervention and Further Stock Drop - 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 [3]. Litigation Context - The lawsuit, Johnson v. Sable Offshore Corp., is being litigated in the U.S. District Court for the Central District of California, aiming to hold the company accountable for allegedly raising capital under false pretenses [4]. Investigation by Hagens Berman - Hagens Berman is investigating claims on behalf of investors who experienced substantial losses, suggesting that the press release may have been a tactic to inflate stock prices prior to the secondary offering [5]. - The firm encourages whistleblowers with non-public information regarding Sable Offshore to come forward, highlighting potential rewards under the SEC Whistleblower program [5].
KLC Investor Update: Class Action Lawsuit Filed Against KinderCare Over IPO– Hagens Berman
GlobeNewswire News Room· 2025-08-21 20:34
Core Viewpoint - A securities class action lawsuit has been filed against KinderCare, alleging that the company misled investors during its October 2024 IPO by failing to disclose significant risks related to the quality and safety of its childcare services [1][2]. Group 1: Lawsuit Details - The lawsuit claims that KinderCare's IPO documents falsely portrayed its services as consistently "high-quality" and a "safe, nurturing and engaging environment," while neglecting to disclose incidents of child abuse, neglect, and harm at its facilities [2][6]. - The lead plaintiff deadline for the lawsuit is set for October 14, 2025, and investors who suffered substantial losses are encouraged to submit their claims [2][4]. Group 2: Financial Impact - Following the allegations and revelations, KinderCare's share price has fallen significantly below the initial IPO price of $24, indicating a loss of investor confidence [3]. - The company has reported disappointing financial results since going public, citing a decline in enrollment as a contributing factor [3]. Group 3: Investigative Actions - Hagens Berman, the law firm leading the investigation, is focusing on whether KinderCare's offering documents misrepresented the company's quality and concealed safety failures that have jeopardized its reputation and business model [5]. - The lawsuit references research reports from analyst Edwin Dorsey, which highlighted incidents of child endangerment and noted increasing scrutiny from lawmakers [6].