Pomerantz Law Firm Investigates Claims on Behalf of Investors of Stellantis N.V. - STLA

Pomerantz LLP is investigating claims on behalf of investors of Stellantis N.V. (“Stellantis” or the “Company”) (NYSE: STLA).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.   

The investigation concerns whether Stellantis and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]    

On July 25, 2024, Stellantis issued a press release announcing its financial results for the first half of 2024.  The Company reported a steep drop in earnings that fell below forecasts, citing weak margins and high inventory at its U.S. operations.  In addition, Stellantis’s Chief Executive Officer Carlos Tavares indicated that the Company was ready to dispose of underperforming brands in its portfolio, while Chief Financial Officer Natalie Knight disclosed the need to take “decisive actions to address operational challenges” in North America, including reducing production and prices for the Company’s vehicles. 

On this news, Stellantis’s stock price fell $1.51 per share, or 7.7%, to close at $18.09 per share on July 25, 2024.

Pomerantz Law Firm Investigates Claims On Behalf of Investors of Sage Therapeutics, Inc. - SAGE

Pomerantz LLP is investigating claims on behalf of investors of  Sage Therapeutics, Inc. (“Sage” or the “Company”) (NASDAQ: SAGE).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether Sage and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On July 24, 2024, Sage announced that it will no longer advance its oral experimental therapy SAGE-324 for essential tremor following a failure in a mid-stage trial. Citing topline data from its KINETIC 2 Phase 2 trial, Sage said SAGE-324 didn't generate statistically significant results for the primary endpoint from baseline to Day 91. Additionally, there were no statistically significant differences between SAGE-324 doses and placebo over the same period for the primary endpoint, which took into account a clinical metric designed to measure tremor in the upper limb. As for the drug's tolerability, Sage said there was a relationship between SAGE-324 and treatment-emergent adverse events (“TEAEs”) related to the central nervous system as well as TEAE frequency.

On this news, Sage’s stock price fell $2.70 per share, or 20.64%, to close at $10. 38 per share on July 24, 2024.

Pomerantz Law Firm Investigates Claims On Behalf of Investors of STMicroelectronics N.V. - STM

Pomerantz LLP is investigating claims on behalf of investors of STMicroelectronics N.V. (“ST” or the “Company”) (NYSE: STM).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether ST and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On July 25, 2024, ST issued a press release announcing its second quarter 2024 results, including negatively revised full year revenue and margin projections for the second time within the current fiscal year.  The Company anticipated total revenue for 2024 to fall within the range of $13.2 billion to $13.7 billion, a reduction from the prior forecast of $14 billion to $15 billion.  Notably, during ST’s fourth quarter 2023 earnings call in January 2024, the Company had projected 2024 revenues in a range between $15.9 billion and $16.9 billion.  In addition, ST’s second quarter revenue experienced a 25.3% decline year-over-year, amounting to $3.23 billion, and net sales to original equipment manufacturers and through distribution channels decreased by 14.9% and 43.7%, respectively, on a year-over-year basis. 

On this news, ST’s stock price fell $6.07 per share, or 15.35%, to close at $33.47 per share on July 25, 2024.

Pomerantz Law Firm Investigates Claims On Behalf of Investors of MaxLinear, Inc. - MXL

Pomerantz LLP is investigating claims on behalf of investors of MaxLinear, Inc. (“MaxLinear” or the “Company”) (NASDAQ: MXL).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether MaxLinear and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On July 24, 2024, MaxLinear issued a press release announcing its second quarter 2024 results, including net revenue for the quarter amounting to just $92 million, down 50% year-over-year.  The Company attributed this decline, at least in part, to a prolonged burn-off of excess customer inventory leading to weakened demand. 

On this news, MaxLinear’s stock price fell $8.27 per share, or 37.1%, to close at $14.02 per share on July 25, 2024.

Pomerantz Law Firm Investigates Claims On Behalf of Investors of Allarity Therapeutics, Inc. - ALLR

Pomerantz LLP is investigating claims on behalf of investors of  Allarity Therapeutics, Inc. (“Allarity” or the “Company”) (NASDAQ: ALLR).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether Allarity and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On February 6, 2023, Allarity disclosed in a regulatory filing that it had received a letter from the U.S. Securities and Exchange Commission (“SEC”) in January 2023, requesting documents that “appear to focus on disclosures relating to submissions, communications and meetings with the [U.S. Food and Drug Administration (‘FDA’)] regarding our [New Drug Application] for Dovitinib or Dovitinib-DRP,” which was submitted to the FDA in 2021. 

On this news, Allarity’s stock price fell $0.009 per share, or 3.8%, to close at $0.228 per share on February 6, 2023. 

Then, on July 22, 2024, Allarity disclosed in another regulatory filing that it had “received a ‘Wells Notice’ from the Staff of the [SEC] relating to the Company’s previously disclosed SEC investigation,” that “three of its former officers received Wells Notices from the SEC relating to the same conduct,” and “that the SEC Staff has made a preliminary determination to recommend that the SEC file an enforcement action against the Company that would allege certain violations of the federal securities laws.” 

On this news, Allarity’s stock price fell $0.004 per share, or 2.38%, to close at $0.164 per share on July 22, 2024.

Pomerantz Law Firm Investigates Claims On Behalf of Investors of Coinbase Global, Inc. - COIN

Pomerantz LLP is investigating claims on behalf of investors of  Coinbase Global, Inc. (“Coinbase” or the “Company”) (NASDAQ: COIN).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether Coinbase and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On July 25, 2024, the Financial Conduct Authority (“FCA”), a U.K. financial regulator, issued a press release announcing that it had fined Coinbase’s U.K. unit, CB Payments Limited (“CBPL”), approximately $4.5 million “for repeatedly breaching a requirement that prevented the firm from offering services to high-risk customers.”  The FCA noted that “[t]he breaches were the result of CBPL’s lack of due skill, care and diligence in the design, testing, implementation and monitoring of the controls put in place” to prevent such violations. 

On this news, Coinbase’s stock price fell $13.54 per share, or 5.53%, to close at $231.52 per share on July 25, 2024.

Pomerantz Law Firm Investigates Claims On Behalf of Investors of Ford Motor Company - F

Pomerantz LLP is investigating claims on behalf of investors of Ford Motor Company (“Ford” or the “Company”) (NYSE: F).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether Ford and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On July 24, 2024, Ford issued a press release announcing its second quarter 2024 results, including non-GAAP EPS of $0.47, missing consensus estimates by $0.21, and revenue of $44.81 billion, missing consensus estimates by $70 million.  In explaining these disappointing results, the Company cited increased warranty costs and losses associated with its electric vehicle division. 

On this news, Ford’s stock price fell $2.51 per share, or 18.36%, to close at $11.16 per share on July 25, 2024.

Pomerantz Law Firm Investigates Claims On Behalf of Investors of Tesla, Inc. - TSLA

Pomerantz LLP is investigating claims on behalf of investors of  Tesla, Inc. (“Tesla” or the “Company”) (NASDAQ: TSLA).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.

The investigation concerns whether Tesla and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

After the market closed on July 23, 2024, Tesla announced its Q2 2024 results, reporting lower earnings-per-share (“EPS”) and operating income than anticipated. Specifically, EPS came in at $0.52 vs. $0.62 consensus and $0.91 a year ago and, while operating margin was reported at 6.3% of sales to improve from last quarter's mark of 5.5%, this figure landed below last year's mark of 9.6%.  In addition, although Tesla promised a “fleet” of robotaxis and was optimistic regarding the Company’s autonomous Autopilot driving system, market analysts reported that investors focused more on the Company's Q2 EPS miss, disappointing operating margins and free cash flow lines, and slower 2024 growth forecast.

On this news, Tesla’s stock price fell $30.39 per share, or 12.33%, to close at $215.99 per share on July 24, 2024. 

Then, on July 30, 2024, as part of a comprehensive investigation into the Autopilot system, the Wall Street Journal published a video about Tesla’s Autopilot system, highlighting “longstanding concerns” regarding the company's camera-based technology and suggesting that this technology has been a key factor in several crashes, some of which were fatal. 

On this news, Tesla’s stock price fell $9.48 per share, or 4.08%, to close at $222.62 per share on July 30, 2024.

Pomerantz Law Firm Announces the Filing of a Class Action Against Arbor Realty Trust, Inc. - ABR

Pomerantz LLP announces that a class action lawsuit has been filed against Arbor Realty Trust, Inc. (“Arbor” or the “Company”) (NYSE: ABR).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether Arbor and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until September 30, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Arbor securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]

On March 14, 2023, NINGI Research (“NINGI”) published a report on Arbor, alleging, among other things, that Arbor “has been hiding a toxic real estate portfolio of mobile homes with a complex web of real and fake holdings companies for more than a decade.” 

Following publication of the NINGI report, Arbor’s stock price fell $1.46 per share, or 11.24%, over the following two trading sessions, to close at $11.53 per share on March 15, 2023. 

Then, on December 5, 2023, Viceroy published an in-depth study of Arbor’s properties in Jacksonville, Florida.  Citing their findings, Viceroy concluded that in an “industry plagued with delusion and bad decisions, [Arbor] stands out as the worst of the worst.  Viceroy’s dive into [Arbor’s] CLOs suggest its entire loan book is distressed and underlying collateral is vastly overstated.” 

Following publication of the Viceroy report, Arbor’s stock price fell $0.71 per share, or 5.12%, over the following two trading sessions, to close at $13.15 per share on December 6, 2023. 

Finally, on July 12, 2024, Bloomberg reported that Arbor was “being probed by federal prosecutors and the Federal Bureau of Investigation in New York.”  According to Bloomberg, “[t]he investigators are inquiring about lending practices and the company’s claims about the performance of their loan book.” 

On this news, Arbor’s stock price fell $2.64 per share, or 17%, to close at $12.89 per share on July 12, 2024.

Pomerantz Law Firm Announces the Filing of a Class Action Against CrowdStrike Holdings, Inc. - CRWD

Pomerantz LLP announces that a class action lawsuit has been filed against CrowdStrike Holdings, Inc. (“CrowdStrike” or the “Company”) (NASDAQ: CRWD).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether CrowdStrike and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until September 30, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired CrowdStrike securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]

On July 19, 2024, a single update pushed by CrowdStrike caused outages for millions of users of Microsoft Windows devices worldwide, including financial institutions, government entities, and corporations (the “CrowdStrike Outage”).  Further, CrowdStrike disclosed that the outages had left users vulnerable to potential hacking threats. 

On this news, CrowdStrike’s stock price fell $38.09 per share, or 11%, to close at $304.96 on July 19, 2024. 

On July 22, 2024, Congress called on CrowdStrike’s Chief Executive Officer George R. Kurtz to testify regarding the crisis.  That same day, the Company’s stock rating was downgraded by analysts, including Guggenheim and BTIG.

On this news, CrowdStrike’s stock price fell $41.05 per share, or 13.5%, to close at $263.91 per share on July 22, 2024. 

On July 29, 2024, news outlets reported that Delta Air Lines had hired prominent attorney David Boies to seek damages from the Company following the CrowdStrike Outage. 

On this news, CrowdStrike’s stock price fell $25.16 per share, or 10%, to close at $233.65 per share on July 30, 2024.

Pomerantz Law Firm Announces the Filing of a Class Action Against MacroGenics, Inc. - MGNX

Pomerantz LLP announces that a class action lawsuit has been filed against MacroGenics, Inc. (“MacroGenics” or the “Company”) (NASDAQ: MGNX).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether MacroGenics and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until September 24, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired MacroGenics securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]

On May 9, 2024, MacroGenics issued a press release disclosing the deaths of five patients in the Company’s Phase 2 TAMARACK study of vobramitamab duocarmazine (vobra duo) in patients with metastatic astration. 

On this news, MacroGenics’ stock price fell $11.36 per share, or 77.4%, to close at $3.31 per share on May 10, 2024.

Pomerantz Law Firm Announces the Filing of a Class Action Against American Airlines Group Inc. - AAL

Pomerantz LLP announces that a class action lawsuit has been filed against American Airlines Group Inc. (“American Airlines” or the “Company”) (NASDAQ: AAL).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether American Airlines and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until September 16, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired American Airlines securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]

On May 28, 2024, American Airlines reported the termination of its Executive Vice President and Chief Commercial Officer, Vasu S. Raja, and abruptly reduced its short-term guidance.  During a conference presentation on May 29, 2024, the Company attributed its lowered guidance to a softness in consumer bookings, a domestic supply and demand imbalance, and a reduction in capacity growth.  In pertinent part, American Airlines attributed the reduced consumer bookings to changes American had made to its sales and distribution strategy and a failure to properly execute the Company’s business strategy, and announced plans to modify its strategy in an effort to regain customers.  As a result, American lowered its second quarter fiscal year 2024 projections, cutting projections for operating margin by a full percentage point and adjusted earnings per share for the quarter by more than 17%. 

On this news, American Airlines’ stock price fell $1.82 per share, or 13.54%, to close at $11.62 per share on May 29, 2024.

Pomerantz Law Firm Announces the Filing of a Class Action Against CAE Inc. – CAE

Pomerantz LLP announces that a class action lawsuit has been filed against CAE Inc. (“CAE” or the “Company”) (NYSE: CAE).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether CAE and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until September 16, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired CAE securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]   

On November 14, 2023, CAE issued a press release reporting its second quarter fiscal year 2024 results and stated that certain of the Company’s legacy contracts continued to be plagued by cost overruns.  CAE revealed that, within its Defense and Security (“Defense”) segment, the Company planned to “retir[e] legacy contracts, which have been most affected by inflationary pressures” and further stated that “[w]e are firmly focused on retiring legacy contracts as soon as possible and to mitigating the cost pressures associated with them.” 

On this news, CAE’s stock price fell $0.85 per share, or nearly 4%, to close at $21.07 per share on November 14, 2023. 

Then, on February 14, 2024, CAE issued a press release reporting its third quarter fiscal year 2024 results and identified “eight distinct legacy contracts” that are firm, fixed-price in structure and that suffered from severe cost overruns due to supply chain disruptions, inflationary pressures, and availability of labor.  According to the press release, the Company “sought to further accelerate the retirement of outstanding program risks, mainly associated with certain legacy Defense contracts that we entered into pre-COVID and have been most impacted by economic headwinds.”  CAE further revealed that “[a]lthough [the contracts] represent only a small fraction of the current business, these contracts have disproportionately impacted overall Defense profitability.” 

On this news, CAE’s stock price fell $2.01 per share, or nearly 10%, to close at $18.91 per share on February 14, 2024. 

Finally, after the close of trading on May 21, 2024, CAE issued a press release announcing a “re-baselining of its Defense business, Defense impairments, accelerated risk recognition on Legacy Contracts and appointment of Nick Leontidis as COO[.]”  The Company stated that “CAE has recorded a $568.0 million non-cash impairment of Defense goodwill,” “$90.3 million in unfavorable Defense contract profit adjustments as a result of accelerated risk recognition on the Legacy Contracts,” and a “$35.7 million impairment of related technology and other non-financial assets which are principally related to the Legacy Contracts.” 

On this news, CAE’s stock price fell $1.03 per share, or more than 5%, to close at $18.80 per share on May 22, 2024.

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Walgreens Boots Alliance, Inc. - WBA

Pomerantz LLP announces that a class action lawsuit has been filed against Walgreens Boots Alliance, Inc. (“Walgreens” or the “Company”) (NASDAQ: WBA).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether Walgreens and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until September 10, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Walgreens securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]

On June 27, 2024, Walgreens announced its financial results for the third quarter of fiscal year 2024 and reduced its revenue guidance for the fourth quarter and full fiscal year 2024.  Among other items, Walgreens reported that “[a]djusted EPS was $0.63, down 36.6 percent on a constant currency basis compared to the year-ago quarter.”  The Company attributed its disappointing results and lowered guidance to “significant challenges in the U.S. Retail Pharmacy business stemming from a worse-than-expected consumer environment and challenging pharmacy industry trends.” 

On this news, Walgreens’ stock price fell $3.47 per share, or 22.16%, to close at $12.19 per share on June 27, 2024.

Pomerantz Law Firm Announces the Filing of a Class Action Against MongoDB, Inc. – MDB

Pomerantz LLP announces that a class action lawsuit has been filed against MongoDB, Inc. (“MongoDB” or the “Company”) (NASDAQ: MDB).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether MongoDB and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until September 9, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired MongoDB securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]   

On March 7, 2024, MongoDB issued a press release announcing its fiscal year 2024 earnings and held a related earnings call that same day.  Among other items, MongoDB announced an anticipated near-zero revenue from unused commitments for the Company’s MongoDB Atlas platform in fiscal year 2025, a decrease of approximately $40 million in revenue, attributed to the Company’s decision to change their sales incentive structure to reduce enrollment.  Additionally, MongoDB projected only 14% growth for fiscal year 2025, compared to projected 16% growth for the previous year, which had resulted in an actualized 31% growth. 

On this news, MongoDB’s stock price fell $28.59 per share, or 6.94%, to close at $383.42 per share on March 8, 2024. 

Then, on May 30, 2024, MongoDB again announced significantly reduced growth projections for fiscal year 2025.  The Company attributed the reduction to its decision to change its sales incentive structure to reduce enrollment frictions, as well as purportedly unanticipated macroeconomic headwinds. 

On this news, Mongo’s stock price fell $73.94 per share, or 23.85%, to close at $236.06 per share on May 31, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

Pomerantz Law Firm Announces the Filing of a Class Action Against FutureFuel Corp. – FF

Pomerantz LLP announces that a class action lawsuit has been filed against FutureFuel Corp. (“FutureFuel” or the “Company”) (NYSE: FF).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether FutureFuel and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until August 23, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired FutureFuel securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]   

On May 10, 2024, FutureFuel disclosed in a filing with the U.S. Securities and Exchange Commission that it “has identified a correction required to be made to its historical consolidated statements of cash flows for the six months ended June 30, 2023, nine months ended September 30, 2023 and year ended December 31, 2023”, “relat[ing] solely to the reported amount of ‘Other assets’ and the resulting total amount of ‘Net Cash Flows From Operating Activities’ and the reported amount of ‘Collateralization of derivative instruments’ and the resulting total amount of ‘Net Cash Flows from Investing Activities’ in the respective consolidated statements of cash flows for the six months ended June 30, 2023, nine months ended September 30, 2023 and year ended December 31, 2023 (collectively, the ‘Correction’).”  Accordingly, FutureFuel advised that certain of the Company’s previous financial statements should no longer be relied upon and would be restated. 

On this news, FutureFuel’s stock price fell $0.47 per share, or 8.55%, to close at $5.03 per share on May 13, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

Pomerantz Law Firm Announces the Filing of a Class Action Against Seritage Growth Properties – SRG

Pomerantz LLP announces that a class action lawsuit has been filed against Seritage Growth Properties (“Seritage” or the “Company”) (NYSE: SRG).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether Seritage and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until August 30, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Seritage securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]   

On August 14, 2023, after the market closed, Seritage revealed that there was a “material weakness” in the Company’s internal control over financial reporting “due to a deficiency in the design of our control over the identification of impairment indicators for investments in real estate and documentation of evidence of review.”  Moreover, the deficiency related “to the failure to identify potential indicators of impairment related to development projects in a timely manner.” 

On this news, Seritage’s stock price fell $0.86 per share, or 9.67%, to close at $8.03 per share on August 15, 2023. 

Then, on May 10, 2024, after the market closed, Seritage released its first quarter 2024 financial results, revealing it was “adjusting [its] pricing projections for some of [its] assets.”  As a result, the gross value of the Company’s portfolio of assets was reduced by at least $325 million. 

On this news, Seritage’s stock price fell $2.54 per share, or 27.3%, to close at $6.78 per share on May 13, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

Pomerantz Law Firm Announces the Filing of a Class Action Against Maxeon Solar Technologies, Ltd. - MAXN

Pomerantz LLP announces that a class action lawsuit has been filed against Maxeon Solar Technologies, Ltd. (“Maxeon” or the “Company”) (NASDAQ: MAXN).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether Maxeon and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until August 26, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Maxeon securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]

On May 30, 2024, before the market opened, Maxeon announced financial results for first quarter 2024 in a press release, reporting a 41% year-over-year decline in revenue to $187.5 million. The Company disclosed that it was “facing a serious cash flow challenge” due in part to the termination of its supply agreement with SunPower Corp.  The Company revealed that, as a result, it was forced to “negotiate[] commitments for significant liquidity support” which will result in “substantial dilution to existing public shareholders, with TZE [TCL Zhonghuan Renewable Energy Technology Co. Ltd.] ultimately becoming a controlling shareholder.” 

On this news, Maxeon’s stock price fell $1.08 per share, or 34.7%, to close at $2.03 per share on May 30, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

Pomerantz Law Firm Announces the Filing of a Class Action Against Toyota Motor Corporation - TM

Pomerantz LLP announces that a class action lawsuit has been filed against Toyota Motor Corporation (“Toyota” or the “Company”) (NYSE: TM).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.

The class action concerns whether Toyota and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until August 23, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Toyota securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]    

On June 3, 2024, Toyota filed with the U.S. Securities and Exchange Commission an English translation of an announcement that Toyota filed with the Tokyo Stock Exchange earlier that day.  Toyota’s announcement said that after “investigat[ing] its model certification applications as per instructions from the Ministry of Land, Infrastructure, Transport and Tourism (MLIT)”, Toyota discovered that “seven models . . . were tested using methods that differed from the government standards[.]”  That same day, The New York Times published an article entitled “Toyota and Other Japanese Carmakers Say They Mishandled Safety Tests.”  The article reported that “Toyota [. . .] and other top Japanese automakers [acknowledged] that internal investigations found they had mishandled vehicle testing on dozens of models over the past decade.”  Further, “Toyota said it had failed to gather proper data when doing pedestrian and occupant safety tests for three models, including its popular Yaris Cross sport utility vehicle.” 

On this news, Toyota’s American depositary share (“ADS”) price fell $5.34 per ADS, or 2.45%, to close at $212.17 per ADS on June 3, 2024.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.