Type: Securities Fraud case filed

According to the Complaint, the Company made false and misleading statements to the market. United Natural Foods failed to invest in its data management infrastructure despite its cost savings initiatives. The Company could not appropriately respond to cost changes including inflationary problems. 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 United Natural Foods, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Rite Aid filled hundreds of thousands of illegal prescriptions for controlled substances such as opioids up until June 2019. The Company’s pharmacists filled prescriptions despite “red flags” indicating they were likely unlawful. The Company ignored evidence of these prescriptions and deleted internal notes expressing concern about suspicious prescribers. 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 Rite Aid, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Tupperware failed to disclose its serious failures to maintain adequate internal controls. The Company’s financial statements beginning in 2020 contain serious errors, with misstatements focused on income taxes. The Company would be forced to restate its financials. 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 Tupperware, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Credit Suisse continued to suffer an outflow of customers despite executives’ claims that it was no longer losing business. The Company downplayed the negative impact of recent poor performance and compliance failures. The Company overstated its prospects and financial position. 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 Credit Suisse, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Norfolk Southern’s “Precision Scheduled Railroading” (“PSR”) strategy of using longer, heavier trains which were staffed with less workers led to a materially increased chance of derailment. The Company’s PSR strategy was part of its attitude of increased risk-taking due to its focus on near-term profits. The Company’s lobbying efforts interfered with its ability to provide safe rail transportation. The Company failed to create response procedures in the case of serious derailment to protect communities from toxic materials. 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 Norfolk Southern, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Alphabet abused its dominant market position in digital advertising to benefit itself and disadvantage both publishers and advertisers who used competing services. The Company’s acted in an anticompetitive manner likely to draw regulatory scrutiny. The Company’s revenue based on anticompetitive practices 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 Alphabet, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Signature Bank failed to maintain the strong fundamentals that it represented to the market. The Company’s actions left it at risk of takeover by the New York Department of Financial Services (“DFS”). 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 Signature Bank, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. SVB failed to inform investors of risks related to rising interest rates. The Company also failed to inform investors of the risks related to its business based on its customer base of tech startups and other venture capital-backed businesses in a high interest rate environment. The Company failed to disclose that it was susceptible to a bank run due to its poor investment performance. 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 SVB, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Fidelity National’s integration of Worldpay was not running ahead of schedule. In fact, the Company’s integration of Worldpay was not completed successfully during the Class Period. The Company did not achieve revenue growth due to the Worldpay integration. 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 Fidelity National, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Match claimed that its Tinder brand was effectively executing a strategy that would deliver growth throughout 2022 and beyond. The Company went so far as to ensure investors this work was “on track” in May 2022. Despite these assertions, the Company disclosed the truth of Tinder’s poor performance on August 2, 2022. The Company admitted that “Tinder did not deliver on its product roadmap for the first half of the year,” causing it to delay several initiatives expected to improve results in 2022. 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 Match, investors suffered damages.