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FAT Brands and investors move to settle lawsuit over alleged misuse of company funds
Yahoo Finance· 2025-10-22 16:08
Core Points - FAT Brands and its shareholders have proposed a $10 million joint settlement for two derivative lawsuits against CEO Andy Wiederhorn and his affiliates, alleging "self-dealing" and "misuse of funds" [1] - The lawsuits accuse Wiederhorn of taking tens of millions of dollars through insider loans and creating a class of "super-voting stock" for himself after a merger, which allegedly unjustly enriched him [1] - The proposed settlement includes a cash payment of $10 million, the transfer of 200,000 shares from Twin Hospitality Group to FAT Brands, and the implementation of corporate governance reforms [1] Legal Context - The proposed settlement is distinct from a separate lawsuit filed in June 2024 by former investor Mitchell Kates, which also alleges financial misconduct [2] - The Harris lawsuits are connected to previous investigations by the U.S. Department of Justice and the Securities and Exchange Commission, with the DOJ dropping its charges in July 2025, while SEC civil charges remain under appeal [2] Settlement Implications - If the court approves the settlement, the lawsuits will conclude immediately, and Wiederhorn and his associates will be protected from being sued again for the same issues [3] - A settlement hearing is scheduled for December [3]
JAMES HARDIE INVESTIGATION: Bragar Eagel & Squire, P.C. Reminds Investors of James Hardie Industries to Contact the Firm Regarding the Ongoing Investigation on Behalf of James Hardie Stockholders
Globenewswire· 2025-10-16 21:45
Core Insights - Bragar Eagel & Squire, P.C. is investigating potential claims against James Hardie Industries plc for possible violations of federal securities laws and other unlawful business practices [1][2] Company Financial Performance - On August 19, 2025, James Hardie reported a 29% decline in first-quarter profit for the period ending June 30, 2025, and projected lower-than-expected earnings for fiscal 2026 due to high borrowing costs [5] - Following the announcement, James Hardie's American Depositary Receipt (ADR) price fell by $9.79, or 34.44%, closing at $18.64 per ADR on August 20, 2025 [5] Legal Context - The law firm is encouraging investors who suffered losses in James Hardie to contact them to discuss their legal rights and options [1][2] - There is no cost or obligation for investors to inquire about their rights or the ongoing investigation [2]
Savara Inc. Sued for Securities Law Violations - Contact The Gross Law Firm Before November 7, 2025 to Discuss Your Rights – SVRA
Globenewswire· 2025-10-16 20:00
Core Viewpoint - Savara Inc. is facing a class action lawsuit due to allegations of issuing materially false and misleading statements regarding its drug MOLBREEVI, which is intended for the treatment of pulmonary alveolar proteinosis [3]. Group 1: Allegations and Class Period - The class period for the lawsuit is from March 4, 2024, to May 23, 2025 [3]. - Allegations include that Savara failed to disclose critical information about MOLBREEVI's chemistry, manufacturing, and controls, leading to doubts about FDA approval [3]. - The lawsuit claims that the delay in regulatory approval would likely necessitate Savara to raise additional capital [3]. Group 2: Shareholder Actions - Shareholders who purchased SVRA shares during the class period are encouraged to register for the class action, with a deadline of November 7, 2025, to seek lead plaintiff status [4]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle [4]. Group 3: Law Firm Information - The Gross Law Firm is representing the shareholders and is recognized for protecting investors' rights against deceit and fraud [5]. - The firm emphasizes its commitment to responsible business practices and seeks recovery for investors affected by misleading statements [5].
The Gross Law Firm Notifies Fortinet, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline - FTNT
Prnewswire· 2025-10-16 13:00
Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Fortinet, Inc. regarding a class action lawsuit, alleging that the company made false statements about its product refresh cycle and the number of FortiGate firewalls that could be upgraded [1]. Summary by Sections Allegations - The complaint claims that Fortinet misrepresented the profitability of its product refresh cycle, stating it would not be as lucrative as suggested, as it involved old products that constituted a "small percentage" of the company's business [1]. - It is alleged that Fortinet did not have a clear understanding of the actual number of FortiGate firewalls eligible for upgrades and misled investors about the momentum of the refresh cycle, which was pushed through rapidly in a few months rather than over the projected two years [1]. Class Action Details - The class period for the lawsuit is defined as November 8, 2024, to August 6, 2025, and shareholders are encouraged to register for participation by November 21, 2025 [2]. - Shareholders who register will receive updates on the case's progress through a portfolio monitoring software [2]. Firm's Mission - The Gross Law Firm aims to protect investors' rights against deceit and fraud, emphasizing the importance of responsible business practices and corporate citizenship [3].
ALERT: Rowley Law PLLC is Investigating Proposed Acquisition of PotlatchDeltic
Prnewswire· 2025-10-14 20:18
Core Viewpoint - Rowley Law PLLC is investigating potential securities law violations related to the proposed acquisition of PotlatchDeltic by Rayonier, which involves a stock exchange offer for shareholders [1] Group 1: Acquisition Details - PotlatchDeltic shareholders will receive 1.7339 shares of Rayonier common stock for each share of PotlatchDeltic they hold [1] - Following the acquisition, PotlatchDeltic stockholders will own approximately 46% of the combined company [1] - The transaction is anticipated to close in early 2026 [1] Group 2: Legal Investigation - Rowley Law PLLC is representing shareholders in investigating the acquisition for potential securities law violations [1] - Additional information regarding the investigation can be obtained through Rowley Law PLLC's website or by contacting their office directly [2]
JEF LEGAL UPDATE: Jefferies Financial Group Inc. Investors may have been Affected by Fraud -- Contact BFA Law if You Lost Money
Globenewswire· 2025-10-14 12:37
Core Viewpoint - Jefferies Financial Group Inc. and its trade finance arm Point Bonita Capital are under investigation for potential violations of federal securities laws following their significant exposure to the bankrupt First Brands Group, LLC [1][2][4]. Group 1: Company Overview - Jefferies is an investment banking and capital markets firm, while Point Bonita Capital serves as its trade finance division [2]. - Both firms were closely associated with First Brands Group, an auto parts supplier that declared bankruptcy in September 2025 [2]. Group 2: Financial Exposure - On October 8, 2025, Jefferies disclosed that it and Point Bonita had approximately $715 million in exposure to First Brands' receivables, which constitutes about 25% of Point Bonita's trade finance portfolio [3]. - Following this announcement, Jefferies' stock price dropped by $4.66, or approximately 8%, from $59.10 on October 7, 2025, to $54.44 on October 8, 2025 [3]. Group 3: Legal Investigation - Bleichmar Fonti & Auld LLP is investigating whether Jefferies and/or Point Bonita made materially false and misleading statements to investors regarding their exposure to First Brands [4].
Quantum BioPharma Ltd. Responds to Vague and Misleading Allegations by The Schall Law Firm and DJS Law Group
Globenewswire· 2025-10-14 12:15
Core Viewpoint - Quantum BioPharma Ltd. strongly refutes allegations of securities law violations made by The Schall Law Firm and DJS Law Group, describing the claims as vague and unsubstantiated [1][2]. Company Overview - Quantum BioPharma is a biopharmaceutical company focused on developing innovative treatments for neurodegenerative and metabolic disorders, as well as alcohol misuse disorders [5]. - The company is advancing its lead compound, Lucid-MS, which is designed to prevent and reverse myelin degradation associated with multiple sclerosis [5]. - Quantum BioPharma retains a 20.10% ownership stake in Unbuzzd Wellness Inc., which is linked to its product unbuzzd™, and has a royalty agreement that includes 7% of sales until reaching $250 million, after which the royalty will drop to 3% [5]. Legal Response - The company views the announcements from the law firms as opportunistic litigation tactics aimed at exploiting public markets without merit [3]. - Quantum BioPharma is reviewing the conduct of the law firms involved and plans to take appropriate action to protect its reputation [3]. Call for Information - The company invites individuals or entities who feel they have been treated unfairly by the law firms to come forward, assuring confidentiality [4].
Snap Inc. Sued for Securities Law Violations – Investors Should Contact The Gross Law Firm Before October 20, 2025 to Discuss Your Rights – SNAP
Globenewswire· 2025-10-13 20:00
Core Viewpoint - The Gross Law Firm is notifying shareholders of Snap Inc. regarding a potential class action lawsuit due to misleading statements about the company's advertising revenue growth, which significantly declined during the reported period [1][3]. Summary by Sections Allegations - The complaint alleges that Snap Inc. provided overly positive statements to investors while concealing material adverse facts about its advertising revenue growth rate, which fell from 9% in Q1 to only 1% in April 2025 [3]. Financial Impact - On August 5, 2025, Snap announced a deceleration in advertising revenue growth, attributing it to issues with its ad platform and other factors. Following this announcement, Snap's stock price dropped from $9.39 to $7.78 per share, a decline of approximately 17.15% in one day [3]. Class Action Details - The class period for the lawsuit is from April 29, 2025, to August 5, 2025. Shareholders are encouraged to register for the class action by October 20, 2025, to participate in potential recovery [4]. Law Firm's Mission - The Gross Law Firm aims to protect investors' rights and seeks recovery for those who suffered losses due to false or misleading statements by companies, emphasizing the importance of responsible business practices [5].
V.F. Corporation Sued for Securities Law Violations - Contact The Gross Law Firm Before November 12, 2025 to Discuss Your Rights - VFC
Prnewswire· 2025-10-09 12:45
Core Viewpoint - V.F. Corporation (VFC) is facing a class action lawsuit due to allegations of disseminating false and misleading statements regarding its turnaround plans for the Vans brand, which has resulted in significant revenue setbacks [1][2]. Summary by Sections Allegations - The complaint claims that VFC concealed material adverse facts about its turnaround plans, specifically that additional significant reset actions were necessary for Vans to return to growth [1]. - The company's fourth quarter and full-year fiscal 2025 results revealed a decline in Vans' growth trajectory, with losses worsening from an 8% decline in the previous quarter to a 20% loss in the fourth quarter [1]. - VFC attributed its disappointing results to "deliberately reduced revenue" aimed at eliminating unprofitable businesses and noted that even without these actions, Vans would have experienced a "high single digit" revenue decline [1]. Stock Price Impact - Following the disclosure of the negative results, VFC's stock price dropped from $14.43 per share on May 20, 2025, to $12.15 per share on May 21, 2025, marking a decline of approximately 15.8% in one day [1]. Next Steps for Shareholders - Shareholders who purchased VFC shares during the specified class period are encouraged to register for the class action, with a deadline to seek lead plaintiff status set for November 12, 2025 [2]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle [2].
INFA Investors Have Opportunity to Join Informatica Inc. Fraud Investigation with the Schall Law Firm
Businesswire· 2025-10-07 22:13
Core Viewpoint - The Schall Law Firm is investigating Informatica Inc. for potential violations of securities laws following a significant drop in its stock price after disappointing financial results [1][2]. Group 1: Investigation Details - The investigation is centered on whether Informatica made false or misleading statements or failed to disclose important information to investors [2]. - Informatica reported its Q4 2024 and full year 2024 financial results on February 13, 2025, missing financial projections [2]. - The company experienced a year-over-year decrease in GAAP total revenues, subscription revenues, and the midpoint of non-GAAP operating income [2]. Group 2: Market Reaction - Following the release of the financial results, Informatica's shares fell by more than 21% [2].