ALERT: Grabar Law Office Investigates Claims on Behalf of Shareholders of Axsome Therapeutics, Inc. (NASDAQ: AXSM); BioVie Inc. (NASDAQ: BIVI); Maison Solutions Inc. (NASDAQ: MSS); and Virtu Financial Inc. (NASDAQ: VIRT), as Securities Fraud Class Actions Survive Motions to Dismiss
PHILADELPHIA, April 08, 2025 (GLOBE NEWSWIRE) --
Axsome Therapeutics Inc. (NASDAQ: AXSM) Class Action Survives Motion to Dismiss:
Grabar Law Office is investigating claims on behalf of shareholders of Axsome Therapeutics, Inc. (NASDAQ: AXSM) as an underlying securities fraud class action has survived a motion to dismiss the complaint. The investigation concerns whether certain officers and directors breached the fiduciary duties they owed to the company.
If you are a current Axsome (NASDAQ: AXSM) shareholder who purchased Axsome shares on prior to May 10, 2021 and still hold shares today, you may be able to seek corporate reforms, the return of money back to the company, and a court approved incentive award at no cost to you whatsoever. Please visit https://grabarlaw.com/the-latest/axsome-shareholder-investigation/, contact Joshua Grabar at [email protected], or call us at 267-507-6085
WHY?: An underlying securities fraud class action complaint alleges that Axsome Therapeutics (NASDAQ: AXSM), via certain of its officers, made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Axsome's chemistry, manufacturing, and control ('CMC') practices were deficient with respect to AXS-07 and its manufacturing process; (ii) as a result, Axsome was unlikely to submit the AXS-07 NDA on its initially represented timeline; (iii) the foregoing CMC issues remained unresolved at the time that the FDA reviewed the AXS-07 NDA; (iv) accordingly, the FDA was unlikely to approve the AXS-07 NDA; (v) as a result of all the foregoing, Axsome had overstated AXS-07's regulatory and commercial prospects; and (vi) as a result, the Company's public statements were materially false and misleading at all relevant times.
On March 31, 2025, the Court issued an Order denying Axsome's Motion to Dismiss. In doing so the court determined that the operative complaint sufficiently pleads material misrepresentations or omissions regarding two categories of statements: (1) Defendants' statements that the manufacturing facility and suppliers for AXS-07 were not experiencing problems and (2) Defendants' statements about AXS-07's NDA. $AXSM #Axsome
WHAT YOU CAN DO NOW: If you purchased Axsome Therapeutics (NASDAQ: AXSM) prior to May 10, 2021 and still hold shares today, you are encouraged to visit https://grabarlaw.com/the-latest/axsome-shareholder-investigation/, contact Joshua Grabar at [email protected], or call 267-507-6085. You may be able to seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever.
BioVie Inc. (NASDAQ: BIVI) Class Action Survives Motion to Dismiss:
Grabar Law Office is investigating claims on behalf of shareholders of BioVie Inc. (NASDAQ: BIVI) as an underlying securities fraud class action has survived a motion to dismiss the complaint. The investigation concerns whether certain officers and directors breached the fiduciary duties they owed to the company.
If you are a current BioVie (NASDAQ: BIVI) shareholder who purchased BioVie shares on prior to December 7, 2022 and still hold shares today, you may be able to seek corporate reforms, the return of money back to the company, and a court approved incentive award at no cost to you whatsoever. Please visit https://grabarlaw.com/the-latest/biovie-shareholder-investigation/ contact Joshua Grabar at [email protected] or call us at 267-507-6085.
Why? On August 5, 2021, BioVie announced in a Form 8-K filed with the SEC the enrollment of the first patient in its Phase 3 study of NE3107 in Alzheimer's Disease.
An underlying securities fraud class action complaint has survived a motion to dismiss. According to that complaint, BioVie Inc. (NASDAQ: BIVI), through certain of its officers, made materially false and/or misleading statements and failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges that Defendants misled investors by failing to disclose that (1) BioVie was not conducting proper oversight of its Phase 3 clinical trial; (2) that the COVID-19 pandemic significantly and negatively impacted the Company's ability to adequately conduct proper oversight of the Phase 3 clinical trial; (3) that due to lack of proper oversight and reliance on contract research organizations, the data from Defendants' Phase 3 clinical trial faced a greater risk of being unreliable and that the majority of patients would have to be excluded from the clinical trial; (4) that, as a result of the significant exclusions from the trial results, the Phase 3 clinical trial would fail to meet its primary endpoints; and (5) statements about BioVie's business, operations, prospects, and compliance with current good clinical practices were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
On March 27, 2025, the Court issued an Order denying Defendants' Motion to Dismiss. In so doing, the Court noted that 'that a compelling inference that Individual Defendants acted with minimum deliberate recklessness is at least as strong as an opposing inference of good faith.'
WHAT YOU CAN DO NOW: If you purchased BioVie (NASDAQ: BIVI) prior to December 7, 2022 and still hold shares today, you are encouraged to visit https://grabarlaw.com/the-latest/biovie-shareholder-investigation/, contact Joshua Grabar at [email protected], or call 267-507-6085. You may be able to seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever. #BioVie $BIVI
Maison Solutions Inc. (NASDAQ: MSS) Class Action Survives Motion to Dismiss:
Grabar Law Office is investigating claims on behalf of shareholders of Maison Solutions Inc. (NASDAQ: MSS) as an underlying securities fraud class action has survived a motion to dismiss the complaint. The investigation concerns whether certain officers and directors breached the fiduciary duties they owed to the company.
If you are a current Maison Solutions Inc. (NASDAQ: MSS) shareholder who purchased Maison shares on or near its October 5, 2023 IPO and still hold shares today, you may be able to seek corporate reforms, the return of money back to the company, and a court approved incentive award at no cost to you whatsoever. Please visit https://grabarlaw.com/the-latest/maison-shareholder-investigation/, contact Joshua Grabar at [email protected] or call us at 267-507-6085
WHY? On October 5, 2023, the Maison Solutions filed its prospectus on Form 424B4 with the SEC, which forms part of the Registration Statement. In the IPO, the Company sold 2,500,000 shares of Class A common stock at a price of $4.00 per share. The Company received net proceeds of approximately $10 million from the Offering.
On December 15, 2023, at approximately 2:30 p.m. Eastern Standard Time, Hindenburg Research published a report about Maison, alleging a number of 'red flags' concerning potentially illegal activities.
An underlying securities fraud class action complaint alleges that in the Registration Statement and throughout the Class Period (October 5, 2023 through December 15, 2023), Maison, through certain of its officers, made materially false and/or misleading statements, including failing to disclose to investors: (1) that the Company's vendor XHJC Holdings Inc., is a related party; (2) that the Company's CEO and related entities were alleged to have used supermarkets as a front to defraud the EB-5 visa program; and (3) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On March 31, 2025, material portions of the underlying complaint survived a motion to dismiss.
WHAT YOU CAN DO NOW: If you purchased Maison Solutions Inc. (NASDAQ: MSS) on or near its October 5, 2023 IPO and still hold shares today, you are encouraged to visit https://grabarlaw.com/the-latest/maison-shareholder-investigation/, contact Joshua Grabar at [email protected], or call 267-507-6085. You may be able to seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever. $MSS #MaisonSolutions
Virtu Financial Inc. (NASDAQ: VIRT) Class Action Survives Motion to Dismiss:
A federal securities fraud class action alleging that Virtu Financial Inc. (NASDAQ: VIRT), and certain of its officers failed to disclose to investors that it had improper safeguards in place and was not monitoring which of its employees were accessing the primary database containing sensitive trader information, has survived a motion to dismiss.
Virtu shareholders who have continuously held Virtu shares since prior to November 7, 2018, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever. Learn more or join by clicking https://grabarlaw.com/the-latest/Virtu-shareholder-investigation/, contact Joshua H. Grabar at [email protected], or call 267-507-6085.
WHAT IS HAPPENING: Grabar Law Office is investigating claims on behalf of long-term Virtu (NASDAQ: VIRT) shareholders. The investigation concerns whether certain officers of the company have breached their fiduciary duties owed to the company. This investigation comes as a shareholder securities fraud class action has survived a motion to dismiss.
WHY: A securities fraud class action complaint alleges that Virtu Financial, via certain of its officers and directors, made false and/or misleading statements and/or failed to disclose that: (i) the Company maintained deficient policies and procedures with respect to its information access barriers; (ii) accordingly, Virtu had overstated the Company's operational and technological efficacy as well as its capacity to block the exchange of confidential information between departments or individuals within the Company; (iii) the foregoing deficiencies increased the likelihood that the Company would be subject to enhanced regulatory scrutiny; and (iv) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
On March 17, 2025, a federal Court determined that key allegations were sufficiently pled to survive defendants' motion to dismiss.
According to the Court's Order, 'essentially anyone at Virtu, including its proprietary traders' could directly access this material non-public information from at least January 2018 through April 2019, and to do so, Virtu traders only needed to use a 'widely known and frequently shared username and password.'
'The court concludes that plaintiff's 'inference of scienter,' [inference that defendants knew their statements or omissions were false or misleading or acted with reckless disregard for the truth] supported by circumstantial evidence of defendants' reckless failure to inform its investors about the FS Database issue, is 'cogent and at least as compelling as' defendants' opposing inference that they identified the FS Database issue, rectified it, and self-reported it to the SEC, while continuously updating the market on the fact of and substance of the resultant SEC investigation.'
WHAT YOU SHOULD DO NOW: If you are a current Virtu shareholder who has held Virtu stock since on or before November 7, 2018, you can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to you.
Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
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