Pomerantz is pleased to announce that on October 1, 2022, it opened its first London office, and that Dr. Daniel Summerfield has joined Pomerantz as Manager of the new office and Business Development Director for the United Kingdom. Jennifer Pafiti, Pomerantz Partner and Head of Client Services as well as a dually qualified U.K. Solicitor and U.S. attorney, co-heads the London office with Dr. Summerfield. Dr. Summerfield was formerly the Head of Corporate Affairs of the Universities Superannuation Scheme (USS), the U.K.’s largest private pension fund, having previously served as USS’s Co-Head of Responsible Investment for many years. Dr. Summerfield brings to Pomerantz a wealth of professional experience, particularly with his strong background…
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For the third year running, Pomerantz has been recognized by Benchmark Litigation as one of the top plaintiffs’ securities litigation firms in the United States. Benchmark has also honored individual Pomerantz partners as litigation stars. Following Benchmark’s “most comprehensive” review of the litigation market to date, featuring a reportedly record-breaking number of firms vying for rankings, Benchmark praised Pomerantz’s “prodigious capacity for cases and its tenacity to keep pursuing them.” Specifically, Benchmark cited the “eye-popping $3 billion settlement” with…
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In a significant victory for damaged Deutsche Bank AG investors, the bank has agreed to pay nearly $26.3 million to end a proposed class action against it on behalf of investors who acquired Deutsche Bank stock between March 14, 2017, and May 12, 2020. Pomerantz is sole lead counsel representing the putative class of plaintiffs in the litigation. The recovery represents approximately 49.4% of the likely recoverable damages in this case, which is well above the median recovery of 1.8% of estimated damages for all securities class actions settled in 2021. Plaintiffs have moved the court for approval of the settlement. The complaint, filed in 2020, alleges…
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On September 19, 2022, U.S. Magistrate Judge Roanne L. Mann, of the Eastern District of New York, appointed Pomerantz LLP as Lead Counsel on behalf of Kashif Memon, the Lead Plaintiff, and the class, in In re Spero Therapeutics, Inc. Sec. Litig., 22-cv-3125 (E.D.N.Y.). This securities action alleges that Spero Therapeutics misled the market regarding the regulatory and commercial prospects for Tebipenem Pivoxil Hydrobromide (“Tebipenem HBr”), an oral carbapenem-class antibiotic to treat complicated urinary tract infections, including pyelonephritis for adults. Spero is a clinical-stage biopharmaceutical company…
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On September 16, 2022, U.S. District Judge Roy B. Dalton Jr., of the Middle District of Florida (Orlando Division), appointed Pomerantz LLP as Co-Lead Counsel on behalf of its client, Michael Edge, who serves as the Co-Lead Plaintiff – with another, and the class, in Edge v. Tupperware Brands Corporation, 22-cv-1518 (M.D. Fla.). This securities action alleges that Tupperware Brands Corporation misled the market regarding its financial performance and condition. Tupperware is a global consumer products company that markets kitchen and household products, including its well-known line of plastic food storage containers. The Company also makes…
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On August 25, 2022, U.S. Magistrate Judge Scott T. Varholak, of the District of Colorado, appointed Pomerantz LLP as Lead Counsel on behalf of Jan Lambert, the Lead Plaintiff, and the class, in Saee v. Enservco Corporation, 22-cv-1267 (D. Colo.). This securities action alleges that Enservco Corporation misled the market regarding the effectiveness of its disclosure controls, the accuracy of its financial statements, and the true scope of its financial reporting issues. Enservco, through its subsidiaries, provides well enhancement and fluid management services to the onshore oil and natural gas industry in the U.S. Allegations against Enservco include that: (i) the Company…
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On August 5, 2022, U.S. District Judge Fernando L. Aenlle-Rocha, of the Central District of California, appointed Pomerantz LLP as Lead Counsel on behalf of Ken Callen, the Lead Plaintiff, and the class, in Boudre v. Resonant, Inc., 22-cv-3403 (C.D. Cal.). This securities action alleges that Resonant, Inc. ("Resonant" or the "Company") misled the market regarding its financial projections, valuation, and reasonability of the tender offer from PJ Cosmos Acquisition Company, Inc. (“PJ Cosmos”) – a wholly-owned subsidiary of Murata Electronics North America, Inc. (“Murata”) – for a merger (“the “Merger”). Resonant designs and develops radio frequency (“RF”) filters, design software and…
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On August 3, 2022, U.S. Magistrate Judge Peggy Kuo of the Eastern District of New York appointed Pomerantz LLP as Co-Lead Counsel on behalf of Tse Winston Wing Kuen and James Liner – the Co-Lead Plaintiffs – with others, and the class, in Poirier v. Bakkt Holdings, Inc., 22-cv-2283 (E.D.N.Y.). This securities action alleges that Bakkt Holdings, Inc. misled the market through faulty financial controls and reporting. Bakkt is a digital asset platform that enables business and retail customers to manage payments and buy, sell, spend and redeem digital financial assets, including cryptocurrencies and loyalty rewards. The Company was formed…
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Pomerantz is proud to announce that Partner Michael Grunfeld was, for the third year in a row, named to Benchmark Litigation’s 40 & Under List. The list honors the “best and brightest law firm partners who stand out in their practices,” aged 40 or younger, who handle “high-stakes or precedent-setting” major cases. Honorees have established themselves in their respective practice areas, distinguishing themselves through a track record of superior recent case work, and earned exceptional feedback from peers and clients during Benchmark Litigation’s research review. Michael has played a leading role in some of Pomerantz’s most significant class action litigations, including its case against Yahoo!…
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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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