Core Viewpoint - Napco Security Technologies, Inc. is facing significant challenges, including a 21% decline in share price year-to-date, amid legal scrutiny and operational difficulties, particularly related to a securities class action lawsuit concerning its distribution practices and sales forecasting [1][2]. Financial Performance - Napco's third-quarter results for fiscal year 2025 showed a 10.8% year-over-year decrease in net sales, totaling $43.96 million, while earnings per share exceeded expectations at $0.36 compared to a forecast of $0.29. However, net income fell by over 23% year-over-year, attributed to inventory reductions by key distributors [2][4]. - The company reported a 25% drop in equipment sales in its February 3, 2025 earnings report, leading to a withdrawal of its 45% EBITDA margin target for fiscal 2026, which resulted in a 26% decline in share price in a single trading session [4][6]. Legal Issues - A class action lawsuit, Patel v. Napco Security Technologies, Inc., alleges that the company's leadership misled investors regarding its ability to forecast hardware demand and maintain margin targets, failing to disclose vulnerabilities in its distribution network [3][5]. - The lawsuit claims that optimistic statements about sales and margins were misleading, leading to inflated stock prices during the class period and substantial losses when the true financial situation was revealed [5][8]. Investigation - Hagens Berman, a shareholder rights firm, is investigating the allegations against Napco, focusing on whether the company misled investors about its sales forecasting and distribution practices [8][9].

SAN FRANCISCO, May 22, 2025 (GLOBE NEWSWIRE) -- Biotechnology firm Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) is facing a securities class action lawsuit in the Northern District of California, alleging that the company misled investors about its growth potential and ability to capitalize on demand for its cancer treatments. The case, Farberov v. Iovance Biotherapeutics, Inc., et al., centers on statements made between May 9, 2024, and May 8, 2025, a period that includes an expansion from the initial Augu ...

Core Viewpoint - Iovance Biotherapeutics, Inc. is facing a securities class action lawsuit for allegedly misleading investors about its growth potential and ability to meet market demand for its cancer treatments [1][2]. Company Overview - Iovance Biotherapeutics is a biotechnology firm that specializes in cancer treatments [1]. - The lawsuit claims that the company and its executives made overly positive statements while concealing material adverse facts about its operational readiness [2][5]. Legal Proceedings - The class action lawsuit is titled Farberov v. Iovance Biotherapeutics, Inc., et al., and covers the period from May 9, 2024, to May 8, 2025 [1][2]. - The lead plaintiff deadline for the lawsuit is set for July 14, 2025 [2]. Financial Impact - On May 9, 2025, Iovance's stock price dropped approximately 44.8%, from $3.17 to $1.75, following the announcement of disappointing financial results and a downward revision of revenue guidance [3]. - The company attributed its lower revenue guidance to a significant reduction in manufacturing capacity and lower-than-expected sales of its existing therapy, Proleukin [4]. Allegations of Misleading Information - The lawsuit argues that the disclosures made by Iovance revealed previously concealed issues that negatively impacted the company's growth prospects [5]. - Investors contend that earlier positive statements misrepresented Iovance's operational readiness and commercialization efforts [5].

SAN FRANCISCO, May 14, 2025 (GLOBE NEWSWIRE) -- A class-action lawsuit has been filed against Zynex, Inc. (NASDAQ: ZYXI), a medical device manufacturer specializing in electrotherapy devices, alleging that the company and certain of its top executives misled investors by overstating revenue through the practice of shipping excessive and unnecessary supplies to patients. The complaint, Tuncel v. Zynex, Inc., No. 25-cv-00913, filed in the U.S. District Court for the District of Colorado, seeks to represent in ...