Latest news with #AdamSavett
Business Upturn
3 days ago
- Business
- Business Upturn
Wolf Popper LLP, a Nationally Recognized Law Firm, Notifies Investors That a Class Action Lawsuit Has Been Filed Against Compass Diversified Holdings: July 8, 2025 Filing Deadline in Securities Class Action Lawsuit
NEW YORK, May 30, 2025 (GLOBE NEWSWIRE) — Wolf Popper LLP announced that three class action lawsuits have been filed on behalf of investors who purchased Compass Diversified Holdings ('Compass') common or preferred stock (NYSE: CODI, CODI PR A, CODI PR B, CODI PR C) between May 1, 2024 and May 7, 2025. The lead plaintiff deadline is July 8, 2025. On May 7, 2025, Compass issued a press release 'disclos[ing] non-reliance on its financial statements for fiscal 2024 amid an ongoing internal investigation into its subsidiary, Lugano Holding, Inc.' and 'announc[ing] that it intends to delay the filing of its first quarter 2025 Form 10-Q.' The press release disclosed that '[t]he Audit Committee of CODI's Board of Directors promptly launched an investigation after CODI's senior leadership was made aware of concerns about how Lugano was potentially financing inventory' and that '[t]he investigation…is ongoing but has preliminarily identified irregularities in Lugano's non-CODI financing, accounting, and inventory practices.' Accordingly, '[a]fter discussing with senior leadership and investigators, the Audit Committee of CODI's Board has concluded that the previously issued financial statements for 2024 require restatement and should no longer be relied upon.' An 'irregularity' is defined in the accounting literature as an intentional misstatement of financial results. Furthermore, Compass disclosed Lugano's founder and CEO had resigned from all of his positions at Lugano. On this news, Compass' stock price collapsed $10.70 per share to $6.55 on May 8, 2025, down 62.0% on extremely heavy volume. Before the market opened on May 28, 2025, Compass announced it was taking steps to enhance its liquidity and reduce costs, including suspending Compass' quarterly dividend, in reaction to the Lugano investigation. Compass' intraday stock price is down 13.5% to $6.51 per share. Investors who lost over $50,000 trading in Compass common or preferred stock and who would like to discuss the investigation should contact Adam Savett at (212) 451-9655, or [email protected]. Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper's reputation and expertise have been repeatedly recognized by courts that have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm's website at May Be Considered Attorney Advertising in Certain Jurisdictions. Prior Results Do Not Guarantee a Similar Outcome. Wolf Popper LLPAdam Savett845 Third AvenueNew York, NY 10022Tel.: (212) 451-9655 Email: [email protected]
Associated Press
4 days ago
- Business
- Associated Press
Compass Diversified Holdings: July 8, 2025 Filing Deadline in Securities Class Action Lawsuit – Contact Wolf Popper LLP
NEW YORK, May 29, 2025 (GLOBE NEWSWIRE) -- Wolf Popper LLP announced that three class action lawsuits have been filed on behalf of investors who purchased Compass Diversified Holdings ('Compass') common or preferred stock (NYSE: CODI, CODI PR A, CODI PR B, CODI PR C) between May 1, 2024 and May 7, 2025. The lead plaintiff deadline is July 8, 2025. On May 7, 2025, Compass issued a press release 'disclos[ing] non-reliance on its financial statements for fiscal 2024 amid an ongoing internal investigation into its subsidiary, Lugano Holding, Inc.' and 'announc[ing] that it intends to delay the filing of its first quarter 2025 Form 10-Q.' The press release disclosed that '[t]he Audit Committee of CODI's Board of Directors promptly launched an investigation after CODI's senior leadership was made aware of concerns about how Lugano was potentially financing inventory' and that '[t]he investigation…is ongoing but has preliminarily identified irregularities in Lugano's non-CODI financing, accounting, and inventory practices.' Accordingly, '[a]fter discussing with senior leadership and investigators, the Audit Committee of CODI's Board has concluded that the previously issued financial statements for 2024 require restatement and should no longer be relied upon.' An 'irregularity' is defined in the accounting literature as an intentional misstatement of financial results. Furthermore, Compass disclosed Lugano's founder and CEO had resigned from all of his positions at Lugano. On this news, Compass' stock price collapsed $10.70 per share to $6.55 on May 8, 2025, down 62.0% on extremely heavy volume. Before the market opened on May 28, 2025, Compass announced it was taking steps to enhance its liquidity and reduce costs, including suspending Compass' quarterly dividend, in reaction to the Lugano investigation. Compass' intraday stock price is down 13.5% to $6.51 per share. Investors who lost over $50,000 trading in Compass common or preferred stock and who would like to discuss the investigation should contact Adam Savett at (212) 451-9655, or [email protected]. Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper's reputation and expertise have been repeatedly recognized by courts that have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm's website at May Be Considered Attorney Advertising in Certain Jurisdictions. Prior Results Do Not Guarantee a Similar Outcome. Wolf Popper LLP Adam Savett 845 Third Avenue New York, NY 10022 Tel.: (212) 451-9655 Email: [email protected]
Associated Press
4 days ago
- Business
- Associated Press
Wolf Popper LLP Announces Investigation on Behalf of Tempus AI, Inc. Investors
NEW YORK, May 29, 2025 (GLOBE NEWSWIRE) -- Wolf Popper LLP is investigating potential claims on behalf of purchasers of Tempus AI, Inc. ('Tempus') common stock (NASDAQ: TEM). Tempus uses AI to provide medical solutions to physicians. Before the market opened on May 28, 2025, Spruce Point Capital Management published a report entitled The Tempest Surrounding Tempus AI. The report discussed 1) Tempus' CEO and a large Tempus shareholder have been associated with several companies that have either gone bankrupt or have done very poorly as public companies, 2) several Tempus board members and Tempus' Chief Accounting Officer have been connected to companies that had to restate their financials, 3) potential financial irregularities and related party issues, 4) whether Tempus' technology actually works, and 5) the selling of Tempus shares by insiders. On this news, Tempus' stock price fell $12.67 per share to $53.20 on May 28, 2025, down 19.2% on very heavy volume. Investors who lost over $50,000 trading in Tempus common stock and who would like to discuss the investigation should contact Adam Savett at (212) 451-9655, or [email protected]. Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper's reputation and expertise have been repeatedly recognized by courts that have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm's website at May Be Considered Attorney Advertising in Certain Jurisdictions. Prior Results Do Not Guarantee a Similar Outcome. Wolf Popper LLP Adam Savett 845 Third Avenue New York, NY 10022 Tel.: (212) 451-9655 Email: [email protected]
Associated Press
29-01-2025
- Business
- Associated Press
ARNC Shareholder Alert: Wolf Popper LLP Files Securities Class Action Lawsuit Against Arconic Corporation
NEW YORK, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Prominent investor rights law firm Wolf Popper LLP announces that it has filed a securities class action lawsuit on behalf of sellers of Arconic Corporation (NYSE: ARNC) common stock between April 19, 2022 and May 3, 2023, inclusive (the 'Class Period'). Captioned Charter Township of Shelby Police & Fire Pension & Retirement System v. Arconic Corporation et al., No. 25-cv-00863 (S.D.N.Y.), the Arconic class action lawsuit charges Arconic and certain of its executive officers and directors with violations of the Securities Exchange Act of 1934. A copy of the complaint is available on Wolf Popper's website by clicking here. If you sold Arconic common stock during the Class Period and wish to serve as lead plaintiff of the Arconic class action lawsuit, or have any questions concerning the Arconic class action lawsuit, please contact attorney Adam Savett of Wolf Popper by calling (212) 451-9655, or via e-mail at [email protected]. Lead plaintiff motions for the Arconic class action lawsuit must be filed with the Court no later than March 31, 2025. CASE ALLEGATIONS: Arconic is a provider of aluminum sheets, plates, and extrusions, as well as architectural products to the ground transportation, aerospace, building and construction, industrial and packaging end markets The Arconic class action lawsuit alleges that Arconic and certain of its senior officers and directors failed to disclose offers to purchase all of the outstanding shares of Arconic common stock at a material premium far above the Company's then-current stock price, while at the same time repurchasing millions of shares of Arconic common stock through stock buyback programs at prices below the offer price. These failures to disclose material non-public information artificially deflated the price of Arconic common stock. Arconic had an obligation to either disclose that it had received a formal acquisition offer from Apollo Global Management, Inc. ('Apollo') or abstain from trading in its own securities. On April 19, 2022, Arconic received an unsolicited non-public offer from Apollo to purchase all of the outstanding shares of Arconic at a price between $34 and $36 per share. On April 29, 2022, Arconic rejected Apollo's offer. However, Apollo continued to demonstrate interest in an acquisition of Arconic. Apollo partnered with Irenic Capital Management LP ('Irenic') concerning the potential acquisition of Arconic starting in May 2022. From May 5, 2022 through June 23, 2022, Apollo, Irenic, and Arconic had discussions concerning a potential acquisition of Arconic. Apollo and Irenic informed Arconic of their interest in exploring a negotiated transaction for Arconic and intent to submit a revised offer to acquire Arconic. Between June 23, 2022 and November 28, 2022, Arconic, Apollo and Irenic kept in contact, but these contacts did not result in the submission of any new proposals for an acquisition of Arconic. During the period June 1, 2022 through August 31, 2022, Arconic repurchased 4,357,690 shares of its common stock on public markets for a total cost of $122,943,904 and at an average price of $28.21 per share, significantly below Apollo's offer of $34 to $36 per share. On November 28, 2022, Apollo informed Arconic that it was considering submitting a new proposal for an acquisition of Arconic at a meaningful premium to Arconic's stock price, which closed at $21.65 per share on November 28, 2022. On December 12, 2022, Apollo submitted a revised proposal for to acquire Arconic in an all-cash transaction at a price of $30.00 per share, a meaningful premium to the price of Arconic's common stock, which closed on December 12, 2022 at $22.57 per share. Arconic thereafter negotiated and engaged with Apollo. Arconic also reached out to three additional parties concerning their interest in a potential acquisition of Arconic. However, Arconic continued to engage in share repurchases at prices materially below Apollo's $30 per share offer. From November 2022 to January 2023, Arconic repurchased an additional 2,107,450 shares of Arconic common stock on the public markets for a total cost of $47,032,891, and at an average price of $22.32 per share. On February 28, 2023, at approximately 2:00 p.m. Eastern Time, The Wall Street Journal reported that Apollo had submitted a bid at an unspecific price to acquire Arconic and that Arconic's advisors had reached out to other potential acquirors. In response, the price of Arconic common stock increased $4.68 per share, or 21.5%, from its price immediately before the WSJ report of $21.76 per share to a closing price on February 28, 2023 of $26.44 per share. On May 4, 2023, during pre-market hours, Arconic announced that it had entered into an agreement to be acquired by Apollo in an all-cash transaction at $30.00 per share. In response, the price of Arconic common stock increased $6.38 per share, or 28.3 %, from a closing price on May 3, 2023 of $22.55 per share to a closing price on May 4, 2023 of $28.93 per share. The merger eventually closed on August 18, 2023, with Apollo acquiring Arconic for $30 per share. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who sold Arconic common stock during the Class Period to seek appointment as lead plaintiff in the Arconic class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Arconic class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Arconic class action lawsuit. An investor's ability to share in any potential future recovery of the Arconic class action lawsuit is not dependent upon serving as lead plaintiff. ABOUT WOLF POPPER: Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper's reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm's website at May be considered attorney advertising in certain jurisdictions. Prior Results Do Not Guarantee A Similar Outcome. Contact Wolf Popper LLP Adam T. Savett 845 Third Avenue New York, NY 10022 Tel.: (212) 451-9655 Tel.: (877) 370-7703
