Home
Join A Case
Contact
MoreAccording to the Complaint, the Company made false and misleading statements to the market. Checkpoint failed to maintain appropriate controls over third-party manufacturers. The Company suffered from multiple issues with its third-party contract manufacturers for cosibelimab. These problems would impact the likelihood of cosibelimab achieving 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 Checkpoint, investors suffered damages.
Archives: Cases
Lamb Weston Holdings, Inc.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Lamb Weston is the subject of a report published by the Wall Street Journal on April 4, 2024. According to the Journal, “The company lowered its full-year forecast for sales to between $6.54 billion and $6.6 billion, and for adjusted earnings per share to a range of $5.50 and $5.65. Those numbers were down from prior guidance of sales between $6.8 billion and $7 billion and adjusted EPS to between $5.70 and $6.15. The report adds, “Chief Executive Tom Werner attributed the reduced guidance to soft near-term restaurant traffic trends and a transition to a new enterprise resource planning system in North America that has hurt its financial results more than expected.” Based on this news, shares of Lamb Weston fell by more than 17.7% in morning trading on the same day.
Dayforce Inc
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Dayforce is the subject of a report published on April 4, 2024, by Blue Orca Capital. The report alleges that the Company “engages in highly aggressive revenue recognition and accounting maneuvers to inappropriately pull forward revenues and inflate profits.” The report continues, “Dayforce is plagued by worst-in-class GAAP gross margins, yet its stock trades at an unjustified 25%+ premium above other human capital management companies, likely because of a latticework of misperceptions created around the Company’s business and true profitability.”
The Bancorp, Inc.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The Bancorp is the subject of a report issued by Culper Research (“Culper”) on March 21, 2024. According to the report, “TBBK’s book also appears rife with unsophisticated syndicated borrowers” with “‘get rich quick dreams’ who believed that they could easily rehab units, fill them with tenants, increase rents, and cash out for quick ‘passive’ returns.” The report continues, “for these properties, none of these things have happened: costs have skyrocketed, vacancies remain high, rents have remained relatively stagnant, and interest rates have more than doubled.” Culper concludes, “TBBK’s $4.7 million in reserves, at just 0.24% of its REBL book, are a total farce.”
Luna Innovations Incorporated
According to the Complaint, the Company made false and misleading statements to the market. Luna’s financial statements from August 10, 2023 to the current day include false figures derived from improper revenue recognition. The Company would be forced to restate earnings for multiple periods. The Company failed to maintain appropriate internal controls. 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 Luna, investors suffered damages.
Verve Therapeutics, Inc.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Verve is the subject of an article published by Bloomberg on April 2, 2024. According to the article, the Company “cited safety concerns for pausing enrollment in a study of its gene-editing treatment for people with high cholesterol, delivering a setback to the promising new field of medicine.” Based on this news, shares of Verve fell by more than 40% in morning trading on the same day.
Sharecare, Inc.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Sharecare disclosed on March 29, 2024, admitted its failure to maintain appropriate controls over financial reporting and revenue recognition. Based on this news, shares of Sharecare fell by more than 28% in intraday trading on April 1, 2024.
AdTheorent Holding Company, Inc.
The investigation focuses on determining if the AdTheorent board breached its fiduciary duties to shareholders. AdTheorent announced on April 1, 2024, that Cadent, LLC (“Cadent”) will acquire the Company’s shares at a price of $3.21 per share. According to the Company, it has “entered into a definitive agreement under which a wholly owned subsidiary of Cadent will acquire the Company in an all-cash transaction. Upon closing of the transaction, AdTheorent will become a privately held company.”
bluebird bio, Inc.
According to the Complaint, the Company made false and misleading statements to the market. Despite its comments to the contrary, bluebird would fail to secure FDA approval for lovo-cel without a black box warning. The Company overstated the commercial prospects of lovo-cel. 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 bluebird, investors suffered damages.
Sotera Health Company
The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Sotera Health Company (“Sotera” or “the Company”) (NASDAQ: SHC) for violations of the securities laws.