Type: Securities Fraud case filed

According to the Complaint, the Company made false and misleading statements to the market. Archer relied on heavy doctored videos from early test flights to create the illusion it had run extensive flight testing of its eVTOL aircraft. The Company exaggerated the nature of its partnerships. The Company was unlikely to secure FAA certification for its aircraft in the timeframe it presented to the market, which would in turn delay its manufacturing and operations timelines. 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 Archer, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Despite DISCO touting its rapid revenue growth, the Company was “aware of, or recklessly disregarded, the fact that the handful of customers that drove this explosive growth had already decided to end their projects with [DISCO] by end of 2021, and CS Disco had excellent advance visibility into this shakeup in its business.” According to the complaint, “The truth began to emerge on August 11, 2022, when CS Disco released financial results for the second quarter of 2022 that shocked investors and analysts alike. Not only did the Company’s revenue growth taper drastically [as compared to] past quarters, but the Company alerted the markets that it would no longer be including in its guidance any revenues attributable to its largest customers for the entire year.” 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 DISCO, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Lumen owns thousands of miles of lead-wrapped cables throughout the United States. These cables represent a hazard to the environment, the Company’s employees, and the general public. The Company knew of this danger but did not disclose the cables as a potential threat, nor did it properly train employees on the danger. 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 Lumen, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Enviva and its executives stated that its liquidity was “strong” entering 2023 and that its leverage ratio could remain “conservative.” The Company was forced to completely reset its expectations, which it blamed on its customer mix, unplanned repair expenses, professional fees, and accounting concerns. 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 Enviva, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Integra announced on May 23, 2023, that it was recalling all products made at its Boston plant between March 1, 2018, and May 22, 2023. The Company admitted that its Boston facility deviated from good manufacturing practices related to the release of products with high levels of endotoxins. This action forced the Company to revise its guidance for the second quarter and announce a $22 million impairment charge. 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 Integra, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Legacy HUB’s prospectus and other materials related to the Merger concealed material facts from investors. Shareholders were encouraged to vote in favor of the Merger and to exchange their shares in Legacy HUB for shares in the Company based on this defective prospectus and other public statements. Based on these facts, the Company’s public statements and materials were false and materially misleading throughout the merger period. When the market learned the truth about HUB, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. PacWest understated the impact of interest rates on its wholly-owned subsidiary, Pacific Western Bank (“PWB”). The Company had overstated the stability of its deposit base. 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 PacWest, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. DigitalOcean failed to maintain appropriate controls over its accounting for income taxes. The Company’s failure was due to a lack of skill and experience with complicated tax matters. 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 DigitalOcean, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Tandem released its third quarter 2022 results on November 2, 2022. During a conference call to discuss the results, the Company substantially lowered its guidance for the year, resulting in downgrades and a significant decline in share price. 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 Tandem, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. UiPath concocted a widespread discounting program that temporarily boosted revenues while cannibalizing future sales and eroding its margins. The Company’s total addressable market was smaller than it had claimed. The Company was losing customers to major competitors like Microsoft and Salesforce as they added automation to their platforms. 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 UiPath, investors suffered damages.