Securities litigation

Search documents
INVESTOR ALERT: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of The Bancorp
GlobeNewswire News Room· 2025-04-26 17:03
Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against The Bancorp, Inc. due to allegations of securities law violations, with a deadline for investors to seek lead plaintiff status in a class action lawsuit by May 16, 2025 [3][11]. Group 1: Allegations Against The Bancorp - The complaint alleges that The Bancorp and its executives made false or misleading statements regarding the risks associated with its REBL loan portfolio, including underrepresenting the risk of default [5]. - It is claimed that the company's expected credit loss methodology was inadequate, leading to a likely increase in provisions for credit losses [5]. - The company reportedly had material weaknesses in its internal controls over financial reporting, and its financial statements were not approved by independent auditors, making them unreliable [5]. Group 2: Market Reactions and Financial Disclosures - Following a report from Culper Research on March 21, 2024, alleging significant risks in the company's loan portfolio, The Bancorp's share price fell by $3.63, or 10.15%, closing at $32.12 [7]. - On October 24, 2024, the company reported a net income of $51.5 million for Q3 2024, but this included a $1.5 million reduction due to increased provisions for credit losses, leading to a share price drop of $7.95, or 14.47%, to $47.01 [8]. - On March 4, 2025, The Bancorp disclosed that its financial statements for fiscal years 2022 to 2024 should no longer be relied upon, resulting in a share price decline of $2.34, or 4.38%, to $51.25 [9][10].
SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors It Has Filed a New Complaint to Recover Losses Suffered by Purchasers of Skyworks Solutions, Inc. Securities with a Lead Plaintiff Deadline of May 5, 2025
Prnewswire· 2025-04-25 19:55
Core Viewpoint - A class action lawsuit has been initiated against Skyworks Solutions, Inc. due to allegations of misleading investors regarding the company's expected revenue and business prospects during a specified period [1][2]. Group 1: Lawsuit Details - The class period for the lawsuit spans from August 8, 2023, to February 5, 2025, during which investors are claimed to have been provided with material information about Skyworks' expected revenue for fiscal year 2025 [2]. - The lawsuit alleges that the defendants expressed confidence in Skyworks' ability to grow its mobile business and diversify its offerings through new technology investments [2]. Group 2: Financial Performance - On February 5, 2025, Skyworks reported its financial results for Q1 of fiscal year 2025 and issued lower-than-expected revenue guidance for Q2, attributing this to an intensified competitive landscape [3]. - Following the announcement, Skyworks' stock price plummeted from $87.08 per share to $65.60 per share on February 6, 2025, marking a decline of over 24% in just one day [3]. Group 3: Legal Process - Investors who suffered losses in Skyworks securities have until May 5, 2025, to request appointment as lead plaintiff in the lawsuit, although participation in any recovery does not require serving as lead plaintiff [4]. Group 4: Law Firm Background - Levi & Korsinsky, the law firm handling the case, has a history of securing significant settlements for shareholders and is recognized as one of the top securities litigation firms in the United States [5].
INVESTOR ALERT: Investigation of TechTarget, Inc. (TTGT) Announced by Holzer & Holzer, LLC
GlobeNewswire News Room· 2025-04-24 15:58
Core Insights - Holzer & Holzer, LLC is investigating TechTarget, Inc. for potential non-compliance with federal securities laws following the announcement of accounting errors in previously issued financial statements [1] - The announcement led to a decline in TechTarget's stock price [1] Company Summary - TechTarget, Inc. is facing scrutiny due to accounting errors related to the Informa Tech Digital Businesses of Informa PLC, which has raised concerns about the reliability of its financial statements [1] - The investigation by Holzer & Holzer, LLC indicates potential legal implications for TechTarget and its shareholders [1] Legal Context - Holzer & Holzer, LLC is a law firm specializing in securities litigation, representing shareholders and investors in cases of corporate misconduct [3] - The firm has a history of recovering significant amounts for shareholders affected by fraud, indicating a proactive approach to investor rights [3]
INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Sana Biotechnology
Newsfilter· 2025-04-09 15:40
Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Sana Biotechnology, Inc. for alleged violations of federal securities laws, particularly regarding misleading statements about the company's financial health and product development [3][5]. Group 1: Legal Investigation and Claims - The firm is encouraging investors who suffered losses in Sana between March 17, 2023, and November 4, 2024, to discuss their legal rights [1][3]. - A federal securities class action has been filed against Sana, with a deadline of May 20, 2025, for investors to seek the role of lead plaintiff [3][9]. - The complaint alleges that Sana and its executives made false statements about the company's financial capacity and the potential of its product candidates [5]. Group 2: Company Financials and Operations - On October 10, 2023, Sana announced a strategic shift to reduce spending on its fusogen platform and focus on its ex vivo cell therapy platform, resulting in a 29% headcount reduction [6][7]. - Following this announcement, Sana's stock price fell by $0.34 per share, or 8.95%, closing at $3.46 per share on October 11, 2023 [7]. - On November 4, 2024, Sana suspended development of SC291 and SC379, reallocating resources to its type 1 diabetes program, which extended its cash runway into 2026 [8]. - After this announcement, Sana's stock price dropped by $0.37 per share, or 9.84%, closing at $3.39 per share on November 5, 2024 [8].