Waterdrop Inc.

According to the Complaint, the Company made false and misleading statements to the market. Waterdrop achieved its past revenue growth through illicit means likely to draw the attention of Chinese regulators for violating their rules. The Company was ordered by the Chinese government to shut down its mutual aid platform because it did not comply with Chinese law. The Company’s operating losses increased significantly in the first quarter of 2021 based on shutting down the mutual aid platform and increased customer acquisition costs. Based on these facts, the Company’s public statements were false and materially misleading throughout the IPO period. When the market learned the truth about Waterdrop, investors suffered damages.

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The Boston Beer Company, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Boston Beer was suffering from decelerating sales of its hard seltzer products. The Company was likely to suffer inventory write-offs. The Company was also reasonably likely to be forced to pay shortfall fees to third-party brewers. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Boston Beer, investors suffered damages.

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Longeveron Inc.

According to the Complaint, the Company made false and misleading statements to the market. Longeveron’s cell-based therapy product, Lomecel-B, did not demonstrate the effectiveness in treating aging frailty that it had touted to investors. The Company overstated the commercial prospects of Lomecel-B. Based on these facts, the Company’s claims were false and materially misleading throughout the IPO and class period. When the market learned the truth about Longeveron, investors suffered damages.

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loanDepot, Inc.

According to the Complaint, the Company made false and misleading statements to the market. LoanDepot’s refinance originations were in decline at the time of the IPO due to competition amongst other factors. The Company’s gain-on-sale margins had also fallen significantly at the same time. Both declines would impact the Company’s financial results. Based on these facts, the Company’s public statements were false and materially misleading throughout the IPO period. When the market learned the truth about loanDepot, investors suffered damages.

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Tyson Foods, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Tyson knew that coronavirus was both highly contagious and spreading around the world. The Company failed to implement appropriate safety protocols for its employees. Based on this failure, the Company’s employees spread coronavirus throughout its facilities. The Company’s production was thereby hampered, including complete shutdowns at some facilities, causing financial harm. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Tyson, investors suffered damages.

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Cassava Sciences, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Cassava overstated the quality and integrity of scientific data supporting its claims of the efficacy of simufilam for the treatment of Alzheimer’s disease. The Company’s data in support of this efficacy was biased. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Cassava, investors suffered damages.

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Spectrum Pharmaceuticals, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Spectrum’s manufacturing facility for ROLONTIS failed to maintain appropriate controls and procedures. These deficiencies diminished the likelihood of the Company’s Biologics License Application (BLA) for ROLONTIS receiving FDA approval. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Spectrum, investors suffered damages.

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HyreCar Inc.

According to the Complaint, the Company made false and misleading statements to the market. HyreCar understated its insurance reserves. The Company consistently failed to pay valid insurance claims incurred before May 2021. The Company suffered from considerable expenses transitioning to a new third-party claims administrator. The Company failed to price appropriate risk into its insurance products leading to a higher claims rate. The Company had to completely overhaul its claims underwriting policies and procedures in the face of high claims severity and customer complaints. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about HyreCar, investors suffered damages.

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Katapult Holdings, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Katapult suffered from declining e-commerce sales and lower consumer spending. Although the Company touted its value proposition to both consumers and merchants, it had no visibility into the future buying behavior of consumers. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Katapult, investors suffered damages.

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PayPal Holdings, Inc.

According to the Complaint, the Company made false and misleading statements to the market. PayPal failed to maintain appropriate disclosure controls and procedures. The Company’s PayPal Credit business was non-compliant with applicable laws and regulations. The Company’s interchange rate practices regarding its debit cards were also non-compliant with applicable laws and regulations. The Company’s revenues from its PayPal Credit and debit card businesses were unsustainable. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about PayPal, investors suffered damages.

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