On February 11, 2022, U.S. District Judge J. Paul Oetken of the Southern District of New York appointed Pomerantz LLP as Lead Counsel on behalf of Yanhong Chen, the Lead Plaintiff in Bannerjee v. Zhangmen Education Inc., 21-cv-9634 (S.D.N.Y.), a securities action brought on behalf of a class of defrauded investors concerning allegations that Zhangmen Education Inc.’s Offering Documents for its June 2017 IPO failed to disclose known risks of impending new regulatory reforms in China that were reasonably likely to have a material adverse effect on the Company's business and financial performance. Zhangmen is an online education platform…
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On January 26, 2022, U.S. District Judge Theodore D. Chuang of the District of Maryland appointed Pomerantz LLP as Co-Lead Counsel on behalf of Nuggehalli Balmukund Nandkumar and Jeffrey A. Gabbert, Co-Lead Plaintiffs with another Co-Lead Plaintiff in Sinnathurai v. Novavax, Inc., 21-cv-2910 (D. Md.), a securities action brought on behalf of a class of defrauded investors concerning allegations that Novavax, Inc. failed to disclose manufacturing issues with its lead vaccine candidate for COVID-19. Novavax is a biopharmaceutical company that develops vaccines to prevent serious infectious diseases, including NVX-CoV2373, its coronavirus vaccine…
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On January 25, 2022, U.S. Magistrate Judge Peggy Kuo of the Eastern District of New York appointed Pomerantz LLP as Lead Counsel on behalf of Davian Holdings Limited, the Lead Plaintiff in McLaughlin v. Nano-X Imaging Ltd., 21-cv-5517 (E.D.N.Y.), a securities action brought on behalf of a class of defrauded investors concerning allegations that Nano-X Imaging Ltd. misrepresented the regulatory and commercial prospects of its Nanox.ARC digital x-ray medical imaging system. Nano-X develops medical imaging technology, including digital x-ray systems, cloud-based image analysis and online diagnosis solutions, and billing services systems.
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Pomerantz Partner Michael Grunfeld will moderate the panel ‘Enhancing Reputational Accountability to Investors’ at the Institute for Law and Economic Policy’s (ILEP) 28th Annual Symposium. The panel will discuss the role that a corporation’s Board of Directors can play in monitoring the company’s environmental, sustainability, and governance (“ESG”) responsibilities toward non-shareholder stakeholders, and what to do when the Board does not live up to its oversight duties. The panel will be presented by Professors Lisa Fairfax (University of Pennsylvania School of Law and Hillary Sale (Georgetown…
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Pomerantz is proud to announce the promotion of Ari Basser to Of Counsel. Ari focuses his practice on strategic consumer litigation. He joined the Firm as an associate in April 2019, and represents consumers in unfair competition, fraud, false advertising, and auto defect actions that recover monetary and injunctive relief on behalf of class members while also advocating for consumer rights. Ari has successfully prosecuted claims involving California’s Unfair Competition Law, California’s Consumers Legal Remedies Act, the Song-Beverly Consumer Warranty Act, and the Magnusson-Moss Warranty Act. Ari also plays an integral role in Pomerantz’s actions in state and federal courts against major…
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Pomerantz is proud to announce the promotion of Brenda Szydlo to Partner. Brenda focuses her practice on securities fraud litigation. She joined the Firm in 2016 as Of Counsel, bringing extensive experience in complex civil litigation in federal and state court on behalf of plaintiffs and defendants, with a particular focus on securities and financial fraud litigation, litigation against pharmaceutical corporations, accountants’ liability and commercial litigation. Brenda played a leading role in the Firm’s securities class action case in the Southern District of New York against Brazil’s largest oil company, Petrobras, arising from a multi-billion-dollar kickback and bribery scheme, in which the Firm, as sole Lead Counsel…
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On January 4, 2022, U.S. Magistrate Judge Arlene R. Lindsay of the Eastern District of New York appointed Pomerantz LLP as Lead Counsel on behalf of Kenneth Rickert, the Lead Plaintiff in Gong v. Neptune Wellness Solutions Inc., 21-cv-1386 (E.D.N.Y.), a securities action brought on behalf of a class of defrauded investors concerning allegations that Neptune Wellness Solutions, Inc. failed to disclose the true cost and financial strain of integrating the assets and operations that it had acquired from SugarLeaf Labs, LLC and Forest Remedies LLC (collectively, “SugarLeaf”), two commercial hemp companies. Neptune operates as…
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On December 23, 2021, U.S. District Judge Paul W. Grimm, of the District of Maryland, appointed Pomerantz LLP as Lead Counsel on behalf of Nova Scotia Health Employees’ Pension Plan and the City of Fort Lauderdale Police & Firefighters’ Retirement System, the Lead Plaintiffs in In re Emergent Biosolutions Inc., 21-cv-995 (D. Md.), a securities action brought on behalf of a class of defrauded investors concerning allegations that Emergent BioSolutions Inc. had a manufacturing and quality control issues with the product of vaccines which resulted in the need to destroy contaminated vaccines and FDA citations. Emergent is a…
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On December 16, 2021, U.S. District Judge Beth Labson Freeman, of the Northern District of California – San Jose Division, appointed Pomerantz LLP as Lead Counsel on behalf of Aaron Sneed and Yaacov Musry, the Lead Plaintiffs in Sneed Jr. v. AcelRx Pharmaceuticals, Inc. et al, 21-cv-4353 (N.D. Cal.), a securities action brought on behalf of a class of defrauded investors concerning allegations that AcelRx Pharmaceuticals, Inc. made false or misleading claims and representations in marketing materials about the risks and efficacy of DSUVIA, its lead product candidate for the treatment of moderate-to-severe…
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On December 15, 2021, U.S. District Judge Lynn Adelman of the Eastern District of Wisconsin appointed Pomerantz LLP as Lead Counsel on behalf of Carey Don Procter, the Lead Plaintiffs in In re Generac Holdings Inc. Sec. Litig., 21-cv-1342 (E.D. Wis.), a securities action brought on behalf of a class of defrauded investors concerning allegations that Generac Holdings Inc. had made false and misleading statements regarding product safety, product recalls, and the impact that these issues would have on revenue. Generac designs and manufactures a wide range of energy technology solutions, which provides…
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On November 18, 2021, U.S. District Judge Steven P. Logan of the District of Arizona appointed Pomerantz LLP as Co-Lead Counsel on behalf of Vincent Chau, Stanley Karcynski, and George Mersho, the Lead Plaintiffs in Borteanu v. Nikola Corporation, 20-cv-1797 (D. Ariz.), a securities action brought on behalf of a class of defrauded investors concerning allegations that Nikola Corporation had made false and misleading statements regarding its business operations, financial growth prospects and the viability of its fuel cell technology. Nikola manufactures commercial electric vehicles and energy solutions, providing battery…
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On November 18, 2021, U.S. District Judge Edmond E. Chang of the Northern District of Illinois appointed Pomerantz LLP as Lead Counsel on behalf of Phoenix Insurance Company Ltd. and The Phoenix Pension & Provident Funds, Lead Plaintiffs in Burbige v. ATI Physical Therapy, Inc., 21-cv-4349 (N.D. Ill.), a securities action brought on behalf of a class of defrauded investors concerning allegations that ATI Physical Therapy, Inc. had made false and misleading statements regarding its business operations and financial performance. ATI is an outpatient physical therapy company.
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On November 17, 2021, U.S. District Judge Michael A. Shipp of the District of New Jersey appointed Pomerantz LLP as Lead Counsel on behalf of George L. Jordan, Jr., Lead Plaintiff in Paxton v. Provention Bio, Inc., 21-cv-11613 (D.N.J.), a securities action brought on behalf of a class of defrauded investors concerning allegations that Provention Bio, Inc. had made false and misleading statements regarding the sufficiency of testing data and approval prospects for its lead product candidate for the treatment of type one diabetes Provention is a clinical stage biopharmaceutical company that develops and…
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On November 17, 2021, U.S. District Judge John C. Hinderaker of the District of Arizona appointed Pomerantz LLP as Lead Counsel on behalf of the State Teachers Retirement System of Ohio, Lead Plaintiff in Bajjuri v. Raytheon Technologies Corporation, 20-cv-00468 (D. Ariz.), a securities action brought on behalf of a class of defrauded investors concerning allegations that Raytheon Technologies Corporation had made false and misleading statements regarding the effectiveness of Raytheon’s internal controls over financial reporting and disclosure controls and procedures, as well as a number of relevant financial metrics. Raytheon purports to be…
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On November 8, 2021, U.S. District Judge Paul A. Engelmayer of the Southern District of New York appointed Pomerantz LLP as Lead Counsel on behalf of Peifa Xu and Yongjun Li, Lead Plaintiffs in Crass v. Yalla Group Limited, 21-cv-6854 (S.D.N.Y.), a securities action brought on behalf of a class of defrauded investors concerning allegations that Yalla Group Limited had made false and misleading statements and omitted material facts which concealed that the Company’s user metrics, reported revenues and cash balances were substantially lower than publicly represented. Yalla is a voice-centric social networking and entertainment platform…
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Benchmark Litigation, in their rankings for 2022, has again recognized Pomerantz LLP as one of the top plaintiffs’ securities litigation firms in the United States and has honored individual Pomerantz partners as litigation stars. Benchmark praised Pomerantz’s “prodigious capacity for cases and its tenacity to keep pursuing them,” citing the “eye-popping $3 billion settlement” with Petrobras, the Brazilian energy giant, that was achieved by the Firm as sole lead counsel for the class, along with lead plaintiff…
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On November 3, 2021, U.S. District Judge Margo K. Brodie of the Eastern District of New York appointed Pomerantz LLP as Lead Counsel on behalf of Richard Sun, Lead Plaintiff in Patel v. Koninklijke Philips N.V., 21-cv-4606 (E.D.N.Y.), a securities action brought on behalf of a class of defrauded investors concerning allegations that Koninklijke Philips N.V. had deficient manufacturing controls and procedures that subjected it to product recalls, diminished revenue and potential legal action. Philips operates as a health technology company in North America, Greater China…
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On November 2, 2021, U.S. District Judge Charles R. Breyer of the Northern District of California appointed Pomerantz LLP as Co-Lead Counsel on behalf of Huei-Ting Kang, Co-Lead Plaintiff in Kang v. Paypal Holdings, Inc., 21-cv-6468 (N.D. Cal.), a securities action brought on behalf of a class of defrauded investors concerning allegations that PayPal Holdings, Inc. failed to disclose deficiencies in its PayPal Credit debit and credit card services and the resulting non-compliance of these programs with applicable laws and regulations. PayPal operates as a technology platform and digital payments company…
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Pomerantz is proud to announce that Managing Partner Jeremy A. Lieberman has been honored as a Top 100 New York Metro Super Lawyer, leading the Firm’s 24 attorneys recognized for their excellence by Super Lawyers® this year. Super Lawyers® – a division of Thomson Reuters – rates outstanding lawyers through a selection process that includes independent research, peer nominations and peer evaluations, recognizing attorneys who have attained a high-degree of peer recognition and professional achievement. Founded in 1936, Pomerantz, the oldest law firm in the world dedicated to…
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On October 12, 2021, U.S. District Judge Julien Xavier Neals of the District of New Jersey appointed Pomerantz LLP as Co-Lead Counsel on behalf of John V. Levon, the Lead Plaintiff in In re CorMedix Inc. Securities Litigation, 20-cv-13819 (D.N.J.), a securities action brought on behalf of a class of defrauded investors concerning alleged material misrepresentations related CorMedix Inc.’s manufacturing process of its lead product candidate for the treatment of catheter-related bloodstream infections (“CRBSIs”). CorMedix is a biopharmaceutical company that focuses on developing and commercializing therapeutic…
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