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Elon Musk must face class action over late disclosure of Twitter stake, judge rules
Reuters· 2026-03-31 20:49
Core Viewpoint - A federal judge has allowed former Twitter investors to pursue a class action lawsuit against Elon Musk for allegedly delaying the disclosure of his stake in the company, which could lead to greater damages for investors [2]. Group 1: Legal Proceedings - The U.S. District Judge Andrew Carter's ruling enables investors to collectively sue Musk, potentially increasing the damages he may face compared to individual lawsuits [2]. - Musk's legal team did not respond to requests for comment regarding the class action [3]. - The case is distinct from another lawsuit in San Francisco, where Musk was found liable for attempting to lower the takeover price by questioning Twitter's authenticity [5]. Group 2: Financial Implications - Investors, led by the Oklahoma Firefighters Pension and Retirement System, claim Musk saved over $200 million by delaying the disclosure of his 5% stake in Twitter, which he eventually revealed as 9.2% [3][4]. - The investors argue that they sold their shares at depressed prices during the 11-day period Musk delayed his disclosure [4]. - Damages from the class action have yet to be determined, and Musk is expected to appeal the ruling [6]. Group 3: SEC Involvement - The SEC has also filed a lawsuit against Musk regarding his disclosure of his 5% stake in Twitter, with both parties currently engaged in settlement discussions [6].
The Gross Law Firm Reminds BellRing Brands, Inc. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of March 23, 2026 – BRBR
Globenewswire· 2026-03-06 21:00
Core Viewpoint - The Gross Law Firm is notifying shareholders of BellRing Brands, Inc. regarding a class action lawsuit related to misleading statements about the company's sales growth and competitive position [1][3]. Group 1: Allegations and Class Period - The class period for the lawsuit is from November 19, 2024, to August 4, 2025 [3]. - Allegations include that the defendants claimed sales growth was due to increased consumer demand and various positive factors, while downplaying competition's impact on demand [3]. Group 2: Next Steps for Shareholders - Shareholders who purchased shares during the specified timeframe are encouraged to register for the class action by March 23, 2026, to potentially become lead plaintiffs [3]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the case lifecycle [3]. Group 3: Law Firm's Mission - The Gross Law Firm aims to protect investors' rights against deceit and illegal business practices, ensuring companies adhere to responsible business practices [4].
Bragar Eagel & Squire, P.C. Urgently Reminds Fermi, Inc. (NASDAQ:FRMI) Stockholders to Contact the Firm Before the Upcoming March 6th Class Action Deadline
Globenewswire· 2026-02-24 22:39
Core Viewpoint - A class action lawsuit has been filed against Fermi, Inc. for allegedly making materially false and misleading statements regarding its business operations and prospects, particularly related to its Project Matador campus [4][8]. Allegation Details - The lawsuit claims that Fermi overstated tenant demand for its Project Matador campus [4] - It is alleged that the company did not adequately disclose its reliance on a single tenant's funding commitment for the construction of Project Matador [4] - There is a significant risk that the tenant could terminate its funding commitment, which was not disclosed [4] - As a result, the positive statements made by the defendants about the company's business and prospects were misleading and lacked a reasonable basis [4] Next Steps - Investors who purchased Fermi shares and suffered losses are encouraged to contact the law firm for more information and to discuss their rights [5][8] - The deadline for investors to apply to be appointed as lead plaintiff in the lawsuit is March 6, 2026 [8]
Levi & Korsinsky Reminds Beyond Meat, Inc. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of March 24, 2026 – BYND
Globenewswire· 2026-02-23 20:54
Core Viewpoint - A class action securities lawsuit has been filed against Beyond Meat, Inc. for alleged securities fraud affecting investors between February 27, 2025, and November 11, 2025 [1][2]. Group 1: Lawsuit Details - The complaint alleges that Beyond Meat's defendants made false statements regarding the book value of certain long-lived assets, which exceeded their fair value, indicating a likely need for a material, non-cash impairment charge [2]. - It is claimed that this situation could impair Beyond Meat's ability to timely file periodic reports with the SEC, rendering the defendants' public statements materially false and misleading [2]. Group 2: Investor Participation - Investors who suffered losses during the specified timeframe have until March 24, 2026, to request appointment as lead plaintiff, although participation in any recovery does not require serving as a lead plaintiff [3]. - Class members may be entitled to compensation without any out-of-pocket costs or fees, with no obligation to participate [3]. Group 3: Legal Firm Background - Levi & Korsinsky has a history of securing hundreds of millions of dollars for shareholders and has been recognized as one of the top securities litigation firms in the United States for seven consecutive years [4].
The Gross Law Firm Reminds Ultragenyx Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of April 6, 2026 – RARE
Globenewswire· 2026-02-18 22:30
Core Viewpoint - The Gross Law Firm is notifying shareholders of Ultragenyx Pharmaceutical Inc. regarding a class action lawsuit due to misleading statements about the company's drug setrusumab and its clinical study results [1][3]. Group 1: Allegations and Impact - The allegations state that Ultragenyx provided overly positive statements while concealing material adverse facts about setrusumab's potential and the risks in study protocols [3]. - The Phase III Orbit and Cosmic studies failed to achieve statistical significance in reducing annualized clinical fracture rates compared to placebo or bisphosphonates, contrary to management's claims [3]. - Following the announcement of the study failures on December 29, 2025, Ultragenyx's stock price plummeted from $34.19 to $19.72, a decline of approximately 42.32% in one day [3]. Group 2: Class Action Details - The class period for the lawsuit is from August 3, 2023, to December 26, 2025, and shareholders are encouraged to register for participation [3][4]. - The deadline for shareholders to seek lead plaintiff status is April 6, 2026, and there is no cost to participate in the case [4]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the lifecycle of the case [4]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].
MASONITE CLASS ACTION LAWSUIT ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Masonite International Corporation and Encourages Investors to Contact the Firm
Globenewswire· 2026-02-18 21:50
Core Viewpoint - A class action lawsuit has been filed against Masonite International Corporation for allegedly failing to disclose acquisition offers from Owens Corning while repurchasing its own stock, potentially misleading investors during the Class Period from June 5, 2023, to February 8, 2024 [2][3]. Group 1: Lawsuit Details - The lawsuit is filed in the United States District Court for the Southern District of New York on behalf of all individuals and entities who sold Masonite common stock during the specified Class Period [2]. - Investors have until April 7, 2026, to apply to be appointed as lead plaintiff in the lawsuit [2]. Group 2: Allegations - The allegations state that Masonite was aware of multiple formal acquisition offers from Owens Corning to purchase all outstanding shares at prices significantly above the market prices during the Class Period [3]. - The lawsuit claims that Masonite had an obligation to disclose these acquisition offers or refrain from repurchasing its stock from investors [3]. Group 3: Next Steps for Investors - Investors who purchased or acquired Masonite shares and suffered losses are encouraged to contact the law firm for more information regarding their rights and potential claims [4]. - There is no cost or obligation for investors to inquire about their rights or the lawsuit [4]. Group 4: About the Law Firm - Bragar Eagel & Squire, P.C. is a nationally recognized law firm that represents individual and institutional investors in various types of litigation, including securities and commercial litigation [5]. - The firm operates nationwide and handles cases in both federal and state courts [5].
Portnoy Law Firm Announces Class Action on Behalf of REGENXBIO, Inc. Investors
Globenewswire· 2026-02-17 15:39
Core Viewpoint - A class action lawsuit has been initiated against REGENXBIO, Inc. for allegedly disseminating false and misleading statements regarding the efficacy and safety of its gene therapy product RGX-111 during the class period from February 9, 2022, to January 27, 2026 [1][4]. Company Overview - REGENXBIO, Inc. is a clinical-stage biotechnology company focused on developing gene therapies that deliver functional genes to cells with genetic defects [3]. Product Information - The company is developing RGX-111, a one-time gene therapy aimed at treating severe Mucopolysaccharidosis Type I (MPS I), also known as Hurler syndrome [3]. Legal Issues - The class action lawsuit claims that during the class period, the company concealed material adverse facts about the RGX-111 trial study, leading to investor losses [4]. - On January 28, 2026, REGENXBIO announced that the U.S. FDA placed a clinical hold on RGX-111 after an intraventricular CNS tumor was found in a participant during the Phase I/II study, resulting in a nearly 18% drop in the company's stock price [5].
Investors who lost money on BellRing Brands, Inc.(BRBR) should contact The Gross Law Firm about pending Class Action - BRBR
Prnewswire· 2026-01-29 14:00
Core Viewpoint - The Gross Law Firm is notifying shareholders of BellRing Brands, Inc. regarding a class action lawsuit related to alleged misleading statements about the company's sales growth and competitive position [1]. Summary by Relevant Sections Class Action Details - Shareholders who purchased shares of BellRing Brands (NYSE: BRBR) between November 19, 2024, and August 4, 2025, are encouraged to contact the Gross Law Firm for potential lead plaintiff appointment [1]. - The deadline for shareholders to register for the class action is March 23, 2026 [1]. Allegations Against the Company - The complaint alleges that BellRing Brands misrepresented its sales growth as being driven by increased consumer demand and various positive factors, while downplaying competitive pressures [1]. - The company claimed to have a "competitive moat" in the ready-to-drink category, asserting that the complexity of the products made competition less significant [1]. Next Steps for Shareholders - Registered shareholders will be enrolled in a portfolio monitoring system to receive updates on the case [1]. - Participation in the case incurs no cost or obligation for shareholders [1].
VISTAGEN CLASS ACTION ALERT: Bragar Eagel & Squire, P.C. Reminds Vistagen Therapeutics, Inc. Stockholders of the Upcoming Lead Plaintiff Deadline and Encourages Investors to Contact the Firm
Globenewswire· 2026-01-24 15:28
Core Viewpoint - A class action lawsuit has been filed against Vistagen Therapeutics, Inc. for allegedly providing misleading information regarding its Phase 3 PALISADE-3 trial of fasedienol, leading to significant investor losses [2][8]. Group 1: Lawsuit Details - The lawsuit is on behalf of all individuals and entities who purchased Vistagen common stock between April 1, 2024, and December 16, 2025, inclusive [2]. - Investors have until March 16, 2026, to apply to the Court to be appointed as lead plaintiff in the lawsuit [2]. Group 2: Allegations - The complaint alleges that Vistagen made overwhelmingly positive statements while concealing material adverse facts about the Phase 3 PALISADE-3 trial [8]. - On December 17, 2025, Vistagen announced that the PALISADE-3 study did not show a statistically significant improvement on its primary endpoint, leading to a dramatic stock price decline [8]. Group 3: Financial Impact - Following the announcement of the trial results, Vistagen's stock price fell from $4.36 per share on December 16, 2025, to $0.86 per share on December 17, 2025, representing a decline of more than 80% [8].
The Gross Law Firm Reminds Coupang, Inc. Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of February 17, 2026 – CPNG
Globenewswire· 2026-01-22 00:00
Core Viewpoint - The Gross Law Firm is notifying shareholders of Coupang, Inc. regarding a class action lawsuit due to allegations of misleading statements and inadequate cybersecurity protocols that led to a data breach affecting customer information [1][3]. Group 1: Allegations - The complaint alleges that during the class period from May 7, 2025, to December 16, 2025, Coupang issued materially false and misleading statements [3]. - It is claimed that Coupang had inadequate cybersecurity measures, allowing a former employee to access sensitive customer information for nearly six months without detection [3]. - The company is accused of failing to disclose the data breach in compliance with SEC reporting rules, which heightened the risk of regulatory scrutiny [3]. Group 2: Class Action Details - Shareholders who purchased shares during the specified class period are encouraged to register for the class action, with a deadline set for February 17, 2026 [4]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's progress [4]. - There is no cost or obligation for shareholders to participate in the case [4]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].