On July 22, 2022, U.S. District Judge John H. Chun of the Western District of Washington appointed Pomerantz LLP as Co-Lead Counsel on behalf of Menora Mivtachim Insurance Ltd., Menora Mivtachim Pensions and Gemel Ltd., The Phoenix Insurance Company, Ltd. and The Phoenix Provident Pension Fund Ltd. – the Co-Lead Plaintiffs, and the class, in Joyce v. Amazon.com, Inc., 22-cv-617 (W.D. Wash.). This securities action alleges that Amazon.com, Inc. misled the market by concealing that it had engaged in anticompetitive behavior. Amazon is a multinational company that engages primarily in the businesses of e-commerce, cloud computing…
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Pomerantz is proud to announce the promotion of J. Alexander Hood II to Partner. Alex focuses his practice on securities fraud litigation. He joined the Firm in 2015 as an Associate and was elevated to Of Counsel in 2019. Alex leads the Firm’s case origination team, identifying and investigating potential violations of the federal securities laws. Alex played a key role in securing Pomerantz’s appointment as Lead or Co-Lead Counsel in actions against Meta Platforms (Facebook), Yahoo! Inc., Fiat Chrysler Automobiles N.V., Wynn Resorts Limited, Mylan N.V., The Western Union Company, Perrigo Company plc, Blue Apron Holdings, Inc., AT&T Inc., Wells Fargo & Company, Raytheon…
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On July 12, 2022, U.S. District Judge Vince Chhabria of the Northern District of California appointed Pomerantz LLP as Lead Counsel on behalf of The Phoenix Insurance Company Ltd. and The Phoenix Provident Pension Fund Ltd. – the Lead Plaintiffs, and the class, in Felipe v. Playstudios, Inc., 22-cv-2164 (N.D. Cal.). This securities action alleges that PLAYSTUDIOS, Inc. misled investors and the market about the state of development, financial prospects and future projections for Kingdom Boss, its flagship game. PLAYSTUDIOS is a developer and publisher of free-to-play casual games for mobile and social platforms. The Company was formed through a merger between…
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Pomerantz is honored that fifteen of the Firm’s attorneys were named by Lawdragon to their list of the top 500 Leading Plaintiff Financial Lawyers for 2022. "They’re tough, they’re rough," according to Lawdragon, “[serving on] the front lines for investors who’ve lost millions, individuals who’ve had their data stolen and small businesses who’ve been bamboozled by financial predators." Founded in 1936 by Abe Pomerantz, the legendary “dean of the class action bar,” Pomerantz is the oldest law firm in the world dedicated to representing defrauded investors. For over 85 years, Pomerantz has shaped the law, winning landmark decisions…
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On July 7, 2022, U.S. District Judge Jacqueline Scott Corley of the Northern District of California (San Francisco Division) appointed Pomerantz LLP as Lead Counsel on behalf of Tyler hardy, the Lead Plaintiff, and the class, in Hardy v. Embark Technology, Inc., 22-cv-2090 (N.D. Cal.). This securities action alleges that Embark Technology, Inc. failed to perform adequate due diligence related to its merger with Embark Trucks Inc. (“Legacy Embark”) (the “Business Combination”) and overstated the business and financial prospects of the Company. Embark develops self-driving software solutions for the trucking industry in the U.S., including autonomous trucking…
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On July 1, 2022, U.S. District Judge Fernando L. Aenlle-Rocha of the Central District of California appointed Pomerantz LLP as Co-Lead Counsel on behalf of Jason Rofeh – the Co-Lead Plaintiff, and the class, in Pizzuto v. Homology Medicines, Inc., 22-cv-1968 (C.D. Cal.). This securities action alleges that Homology Medicines, Inc. misled the market regarding the efficacy of its lead product candidate, HMO-102 – a gene therapy for the treatment of phenylketonuria in adults – and overstated the regulatory and commercial prospects for the drug. Homology is a genetic medicines company that develops treatments for rare genetic diseases at…
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On May 27, 2022, U.S. Magistrate Judge Vera M. Scanlon of the Eastern District of New York appointed Pomerantz LLP as Co-Lead Counsel on behalf of Abraham Kiswani, the Co-Lead Plaintiff, and the class, in Deputy v. Akebia Therapeutics, Inc., 22-cv-1411 (E.D.N.Y.). This securities action alleges that Akebia Therapeutics, Inc. misled the market regarding the efficacy of its lead product, vadadustat, and overstated the regulatory and commercial prospects for the drug. Akebia is a biopharmaceutical company that focuses on the development and commercialization of therapeutics for patients suffering from kidney disease. The Company’s lead product…
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For the second year in a row, The Legal 500 ranked Pomerantz as a Tier 1 firm, recognizing it as one of the top plaintiffs’ securities litigation firms in the United States. This honor follows a rigorous vetting process that involved in-depth analysis of the Firm’s recent and current litigation actions, discussions with dozens of clients, colleagues, and judges, and interviews with Pomerantz partners. In particular, The Legal 500 cited Pomerantz’s “strong record in investment recovery” on behalf of institutional investors and the Firm’s notable “strength in cases involving foreign-traded securities.” In describing their experiences with Pomerantz, testimonials from anonymous…
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On May 24, 2022, the 2nd Circuit reversed, in part, the district court’s decision in dismissing the Plaintiffs’ Complaint in Noto v. 22nd Century Grp., Inc., 35 F.4th 95 (2d Cir. 2022). This securities class action alleges, among other things, that 22nd Century Group, Inc. (“22nd Century” or the “Company”), failed to disclose that it was the subject of an investigation by the U.S. Securities and Exchange Commission (“SEC”) in connection with material weaknesses in the Company’s accounting controls. 22nd Century is a biotechnology company working to genetically engineer tobacco plants to produce reduced-nicotine tobacco products. The Company is also…
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On June 7, 2022, U.S. District Judge Victor Marrero of the Southern District of New York appointed Pomerantz LLP as Co-Lead Counsel on behalf of Si Fan and Amit Batra – Co-Lead Plaintiffs in the case – and the class, in In re Grab Holdings Limited Securities Litigation, 22-cv-2189 (S.D.N.Y.). This securities action alleges that Grab Holdings Limited misrepresented its financial performance and prospects. Grab is a Southeast Asia-based technology company that provides access to transportation, food delivery and financial services via a mobile application. On December 1, 2021, Grab became a public entity via a business combination with…
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On June 6, 2022, U.S. District Judge Yvonne Gonzalez Rogers of the Northern District of California appointed Pomerantz LLP as Lead Counsel on behalf of the Lead Plaintiffs – Menora Mivtachim Insurance Ltd., Menora Mivtachim Pensions and Gemel Ltd., The Phoenix Insurance Company, Ltd., and The Phoenix Provident Pension Fund Ltd. – and the class, in Plumbers and Steamfitters Local 60 Pension Trust v. Meta Platforms, Inc., 22-cv-1470 (N.D. Cal.). This securities action alleges that Meta Platforms, Inc. misled the market regarding its mitigation efforts to counteract changes that Apple, Inc. made to the iOS operating system that negatively impacted…
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On June 3, 2022, U.S. District Judge Susan Illston of the Northern District of California appointed Pomerantz LLP as Co-Lead Counsel on behalf of Leon Yu and Max Wisdom Technology Limited – Co-Lead Plaintiffs in the case – and the class, in Modrak v. Talis Biomedical Corporation, 22-cv-105 (N.D. Cal.). This securities action alleges that Talis Biomedical Corporation failed to disclose deficiencies in the testing of its Talis One COVID-19 test (“Talis One”) and the resulting delays with its application to the U.S. Food and Drug Administration (“FDA”) for Emergency Use Authorization (“EUA”). Talis is a medical manufacturing company that focuses on creating “point of care…
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On May 20, 2022, U.S. Magistrate Judge Becky R. Thorson of the District of Minnesota appointed Pomerantz LLP as Co-Lead Counsel on behalf of Ricardo Dario Schammas, the Co-Lead Plaintiff, and the class, in Steamfitters Local 449 Pension & Retirement Security Funds v. Sleep Number Corporation, 21-cv-2669 (D. Minn.). This securities action alleges that Sleep Number Corporation failed to disclose significant disruptions in its supply chain which resulted in a failure to fulfill orders in a timely manner and to meet surging customer demand. Sleep Number manufactures beds and bedding accessories, including the Sleep Number 360® smart bed…
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Pomerantz won an important victory for investors on May 18, 2022, when Judge Jed S. Rakoff of the United States District Court for the Southern District of New York denied in large part defendants’ motion to dismiss all claims for securities fraud in Karimi v. Deutsche Bank AG, a securities class action in which Pomerantz is sole Lead Counsel. The complaint alleges that from November 7, 2018 through July 6, 2020 (the “Class Period”), defendants made materially false and misleading statements about its anti-money-laundering (“AML”) deficiencies and didn’t properly monitor or gave exemptions to customers it considered high risk, such as financier and accused sex offender Jeffrey Epstein.
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On May 9, 2022, U.S. District Judge Catherine C. Eagles of the Middle District of North Carolina appointed Pomerantz LLP as Lead Counsel on behalf of Jeffrey D. Fisher, the Lead Plaintiff, and the class, in Fisher v. Fennec Pharmaceuticals, Inc., 22-cv-115 (M.D.N.C.). This securities action alleges that Fennec Pharmaceuticals, Inc. misled the market regarding its remediation of manufacturing issues with Pedmark, its lead product candidate, and overstated the regulatory and commercial prospects for the drug. Fennec is a biopharmaceutical company that develops product candidates for use in the treatment of pediatric cancer…
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After winning European Pensions’ inaugural Thought Leadership Award in 2020 and being shortlisted in 2021, Pomerantz has again been shortlisted for the Thought Leadership Award in 2022. Further, for the second year in a row, the Firm has also been shortlisted for the organization’s Law Firm of the Year Award. The Law Firm of the Year Award recognizes a firm that “stands out in its dedication to understanding the complexities of pensions legislation and works with its clients to see them through the legal maze.” The Thought Leadership Award honors a firm, pension fund or association that is “leading the way” with…
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On May 3, 2022, after six years of hard-fought litigation, Pomerantz and co-counsel achieved a significant victory on behalf of consumers by securing a $20 million settlement, pending final approval of the Court, in a consumer class action against Apple, Inc., on behalf of iPhone owners. The motion to settle, filed in U.S. District Court for the Eastern District of New York and unopposed by Apple, would entitle the class members to a recovery of between $15 to $150 per device owned, depending on how many class members file claims. In October 2020, Pomerantz successfully fought to have the Court certify two classes of iPhone users: All individuals and entities…
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On May 2, 2022, U.S. District Judge Josephine L. Staton of the Central District of California appointed Pomerantz LLP as Lead Counsel on behalf of Arthur Gary LaFrano, the Lead Plaintiff, and the class, in Eljon Lako v. Loandepot, Inc. et al, 8:21-cv-01449-JLS-JDE (C.D. Cal.). This securities action alleges that loanDepot, Inc. ("loanDepot" or the "Company") failed to disclose declines in its loan operation business that negatively impacted its revenue and growth. loanDepot is an independent retail mortgage lender that provides residential loans, refinance loans, and personal loan products nationwide. Allegations against loanDepot include that…
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Pomerantz is proud to announce that Partner Murielle Steven Walsh has been selected to join Law360’s newly formed 2022 Securities Editorial Advisory Board. The board will provide Law360 with feedback on its coverage and offer expert insight on how best to shape future coverage of securities litigation, regulation, and enforcement. As a recognized leader in plaintiffs’ securities litigation, Murielle has successfully prosecuted securities class actions and corporate governance cases. Beyond winning substantial financial recoveries for clients and classes of defrauded investors, she has also secured precedential rulings from courts that have made new law…
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On April 6, 2022, U.S. District Judge Maryellen Noreika of the District of Delaware appointed Pomerantz LLP as Co-Lead Counsel on behalf of the Co-Lead Plaintiff, and the class, in NRx Pharmaceuticals, Inc., 1:22-cv-00066-MN (D. Del.). This securities action alleges that NRx Pharmaceuticals, Inc. misrepresented the efficacy and regulatory prospects of ZYESAMI (also known as aviptadil), its investigational pre-commercial drug for the treatment COVID-19 related respiratory failure. NRx is a clinical-stage pharmaceutical company that develops various therapeutics for the treatment of central nervous system disorders and the treatment and prevention…
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