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DEADLINE ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Fortrea
GlobeNewswire News Room· 2025-06-06 14:33
Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Fortrea Holdings Inc. for alleged violations of federal securities laws, with a deadline for investors to seek lead plaintiff status by August 1, 2025 [2][4]. Company Overview - Fortrea Holdings Inc. (NASDAQ: FTRE) is under scrutiny for allegedly making false or misleading statements regarding its financial performance and business model [4]. - The company has faced significant stock price declines following negative reports and announcements, indicating potential weaknesses in its business model and financial projections [5][6][7]. Financial Performance - Fortrea's stock price fell by $2.73 (12.29%) to $19.48 on September 25, 2024, after Jefferies downgraded the stock from buy to hold, citing concerns over the company's business model and cost savings [5]. - Following a downgrade by Baird Equity Research on December 6, 2024, the stock price dropped by $1.90 (8.06%) to $21.67, attributed to concerns about the company's communication and sector challenges [6]. - On March 3, 2025, Fortrea announced that its revenue and adjusted EBITDA expectations for 2025 were not aligned with prior forecasts, leading to a stock price decline of $3.47 (25.05%) to $10.38 [7]. Legal Proceedings - A federal securities class action has been filed against Fortrea, and investors who suffered losses are encouraged to contact Faruqi & Faruqi for potential legal recourse [2][4][9]. - The role of lead plaintiff in the class action is open to any member of the putative class, with the deadline for applications set for August 1, 2025 [8].
SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Open Lending
GlobeNewswire News Room· 2025-06-02 16:41
Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Open Lending Corporation due to alleged violations of federal securities laws, with a deadline for investors to seek lead plaintiff status by June 30, 2025 [3][5]. Group 1: Allegations Against Open Lending - The complaint alleges that Open Lending and its executives made false or misleading statements and failed to disclose material adverse facts about the company's business and operations [5]. - Specific allegations include misrepresentation of the company's risk-based pricing models, misleading statements regarding profit share revenue, and failure to disclose the significant depreciation of 2021 and 2022 vintage loans [5]. - The company is accused of misrepresenting the underperformance of its 2023 and 2024 vintage loans, leading to materially misleading statements about its business prospects [5]. Group 2: Stock Price Impact - Following the announcement of a postponed earnings release on March 17, 2025, Open Lending's stock price fell by $0.40, or 9.3%, closing at $3.91 per share [7]. - On March 31, 2025, the company reported a significant year-over-year increase in net loss for Q4 2024, which contributed to a further decline in stock price [7]. - On April 1, 2025, Open Lending's stock price dropped by $1.59, or 57.61%, closing at $1.17 per share, indicating substantial investor injury [8]. Group 3: Legal Proceedings - The court-appointed lead plaintiff will be the investor with the largest financial interest in the relief sought, who will oversee the litigation on behalf of the class [9]. - Any member of the class can move to serve as lead plaintiff or remain an absent class member without affecting their ability to share in any recovery [9]. - Faruqi & Faruqi encourages individuals with information regarding Open Lending's conduct to come forward, including whistleblowers and former employees [10].
SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of NET Power
GlobeNewswire News Room· 2025-06-02 16:41
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In NET Power To Contact Him Directly To Discuss Their Options If you purchased or acquired securities in NET Power between June 9, 2023 and March 7, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, June 02, 2025 (GLOBE NEWSWIRE) -- Faruqi & ...
Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Red Cat Holdings, Inc. (RCAT)
GlobeNewswire News Room· 2025-05-27 16:27
NEW YORK, May 27, 2025 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of all persons or entities who purchased the securities of Red Cat Holdings, Inc. (“Red Cat” or the “Company”) (NASDAQ: RCAT) between March 18, 2022 and January 15, 2025, both dates inclusive (the “Class Period”). The Complaint alleges that Defendants throughout the Class Period made false and/or misl ...
INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Organon
GlobeNewswire News Room· 2025-05-25 12:49
Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Organon & Co. due to misleading statements regarding its capital allocation strategy, particularly concerning dividends and debt reduction, which led to significant financial losses for investors [3][5]. Group 1: Legal Investigation and Class Action - Faruqi & Faruqi is encouraging investors who suffered losses exceeding $75,000 in Organon between October 31, 2024, and April 30, 2025, to discuss their legal options [1]. - A federal securities class action has been filed against Organon, with a deadline of July 22, 2025, for investors to seek the role of lead plaintiff [3]. - The firm has a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [4]. Group 2: Financial Misrepresentation - Defendants provided misleading information about Organon's commitment to regular quarterly dividends, claiming it was a "1 capital allocation priority" while concealing the prioritization of debt reduction following the acquisition of Dermavant [5]. - The misleading statements resulted in a 70% decrease in the regular quarterly dividend, causing shareholders to purchase securities at artificially inflated prices [5]. Group 3: Market Reaction - Following the revelations about Organon's financial practices, the company's stock price dropped from $12.93 per share on April 30, 2025, to $9.45 per share on May 1, 2025, marking a decline of over 27% in just one day [6].
GoHealth, Inc. Investor News: If You Have Suffered Losses in GoHealth, Inc. (NASDAQ: GOCO), You Are Encouraged to Contact The Rosen Law Firm About Your Rights
GlobeNewswire News Room· 2025-05-24 13:15
Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of GoHealth, Inc. due to allegations of materially misleading business information issued by the company [1]. Group 1: Legal Investigation and Class Action - Shareholders who purchased GoHealth securities may be entitled to compensation through a class action lawsuit without any out-of-pocket fees [2]. - The Rosen Law Firm is preparing a class action to seek recovery of investor losses related to GoHealth [2]. Group 2: Allegations and Stock Impact - The U.S. Department of Justice announced charges against GoHealth, alleging that from 2016 to 2021, the company was involved in illegal kickbacks totaling hundreds of millions of dollars to brokers for enrollments in Medicare Advantage plans [3]. - Following the announcement of these charges, GoHealth's stock price dropped by 10.3% on May 1, 2025, and an additional 6.7% on May 2, 2025 [3]. Group 3: Rosen Law Firm's Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved the largest securities class action settlement against a Chinese company at the time [4]. - The firm has been ranked in the top 4 for securities class action settlements since 2013 and recovered over $438 million for investors in 2019 alone [4].
INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Ibotta
GlobeNewswire News Room· 2025-05-14 17:59
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Ibotta To Contact Him Directly To Discuss Their Options If you purchased or otherwise acquired stock of Ibotta pursuant and/or traceable to the registration statement and related prospectus (collectively, the "Registration Statement") issued in connection with Ibotta's April 18, 2024 initial public offering (the "IPO") and would like to discuss your legal rights, call Faruqi ...
INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Avis Budget Group
GlobeNewswire News Room· 2025-05-14 17:37
Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Avis Budget Group, Inc. due to significant financial losses attributed to misleading statements and a flawed fleet rotation strategy [3][5]. Group 1: Financial Performance - Avis Budget reported a loss of $1.96 billion, or $55.66 per share, for Q4 2024, compared to a profit of $259 million, or $7.10 per share, in the same period the previous year [6]. - The loss was primarily due to a one-time non-cash impairment of $2.3 billion and additional non-cash charges of $180 million resulting from an accelerated fleet rotation strategy [6]. Group 2: Legal Implications - A federal securities class action has been filed against Avis, with a deadline of June 24, 2025, for investors to seek the role of lead plaintiff [3][8]. - The complaint alleges that Avis and its executives violated federal securities laws by making false or misleading statements regarding the company's financial health and fleet management strategy [5]. Group 3: Management Changes - CEO Joseph A. Ferraro will transition to a Board Advisor role effective June 30, 2025, with Brian Choi, the Chief Transformation Officer, taking over as CEO on July 1, 2025 [7]. - Following the announcement of these changes, Avis Budget's stock price fell by $6.12 per share, or 6.82%, closing at $83.59 per share [7]. Group 4: Investor Outreach - Faruqi & Faruqi encourages investors who suffered losses exceeding $100,000 in Avis to contact them for discussions regarding their legal rights [1][9]. - The firm is also seeking information from whistleblowers, former employees, and shareholders regarding Avis' conduct [9].
Faruqi & Faruqi Reminds NET Power Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of June 17, 2025 - NPWR
Prnewswire· 2025-04-27 12:56
Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against NET Power Inc. due to allegations of false and misleading statements regarding Project Permian, which has faced significant delays and cost overruns [2][4]. Company Overview - NET Power Inc. is a publicly traded company on the NYSE under the ticker NPWR [2]. - The company has been involved in Project Permian, which is now estimated to have a total installed cost between $1.7 billion and $2.0 billion, significantly higher than the previous estimate of $1.1 billion [7]. Project Permian Updates - The project is now expected to come online no earlier than 2029, a significant delay from earlier projections of initial power generation between the second half of 2027 and the first half of 2028 [5][7]. - The delays and increased costs are attributed to supply chain issues and various site- and region-specific challenges [4][7]. Financial Impact - Following the announcement of the delays and increased costs, NET Power's stock price fell by $2.47 per share (18.54%) to close at $10.85 on November 14, 2023 [6]. - On March 10, 2025, after further disclosures, the stock price dropped by $2.18 per share (31.46%) to close at $4.75 [7]. - The company reported a decrease in cash reserves, ending 2024 with $533 million, down from $580 million [7]. Management Changes - On April 15, 2025, NET Power announced the departure of its President and COO, as well as its CFO, with a new COO appointed immediately [8]. - This news led to a further decline in the stock price by $0.13 per share (5.75%) to close at $2.13 on April 16, 2025 [8]. Legal Proceedings - Investors who suffered losses exceeding $50,000 between June 9, 2023, and March 7, 2025, are encouraged to contact Faruqi & Faruqi to discuss their legal options [1][2]. - There is a deadline of June 17, 2025, for investors to seek the role of lead plaintiff in the federal securities class action against NET Power [2].
INVESTOR ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of NET Power
GlobeNewswire News Room· 2025-04-26 15:42
Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against NET Power Inc. due to allegations of misleading statements regarding Project Permian's timeline and costs, which have led to significant stock price declines and investor losses [4][6]. Group 1: Allegations and Financial Impact - The complaint alleges that NET Power and its executives violated federal securities laws by making false statements and failing to disclose that Project Permian was unlikely to be completed on schedule and would be significantly more expensive than previously represented [6]. - The company now estimates Project Permian's total installed cost to be between $1.7 billion and $2.0 billion, up from a previous estimate of $1.1 billion, indicating a substantial increase in projected expenses [9]. - Following the announcement of delays and increased costs, NET Power's stock price fell by 18.54% to $10.85 per share on November 14, 2023, and by 31.46% to $4.75 per share on March 10, 2025 [8][9]. Group 2: Management Changes and Investor Actions - On April 15, 2025, NET Power announced the departure of its President and COO, as well as its CFO, which resulted in a further stock price decline of 5.75% to $2.13 per share [10]. - Investors who suffered losses during the specified period are encouraged to contact Faruqi & Faruqi to discuss their legal rights and options for participating in a federal securities class action [4][12].