Latest news with #CaliforniaLawyerAttorneyoftheYear
Business Wire
6 days ago
- Business
- Business Wire
Abacus Global Management, Inc. (NASDAQ: ABL) Under Investigation Following 'Fake Revenue' Allegations; Investors Urged to Contact Award-Winning Firm, Gibbs Mura
OAKLAND, Calif.--(BUSINESS WIRE)--Shares of Abacus Global Management, Inc. ('Abacus') fell over 30% in intraday trading on Wednesday, June 4, 2025, after Morpheus Research published an article alleging that the financial services company is a 'life settlements accounting scheme manufacturing fake revenue by systematically underestimating when people will die.' Gibbs Mura is investigating a potential Abacus Global Management, Inc. (NASDAQ: ABL) Securities Class Action Lawsuit on behalf of shareholders who lost money in Abacus. On June 4, 2025, Morpheus Research published a detailed report alleging that Abacus is a 'life settlements accounting scheme manufacturing fake revenue by systematically underestimating when people will die.' What Should Abacus Global Management, Inc. Investors Do? If you invested in ABL, visit our Abacus Global Management, Inc. investigation webpage, or call us at (888) 410-2925 to get more information about how you may be able to recover your losses. Our investigation concerns whether Abacus has violated federal securities laws by providing false or misleading statements to investors. What is the Abacus Global Management, Inc. (ABL) Lawsuit Investigation About? On June 4, 2025, Morpheus Research published a detailed report alleging that Abacus is a 'life settlements accounting scheme manufacturing fake revenue by systematically underestimating when people will die.' Morpheus's three-month investigation into Abacus, which purportedly included expert interviews, review of corporate records and court documents, and discussions with former Abacus employees, allegedly uncovered that Abacus's returns are 'primarily manufactured by the systematic overvaluation of its assets through an opaque 'mark to model' accounting scheme that closely mirrors past blow-ups in the life settlements industry.' The report claims that Abacus 'has resorted to slashing its discount rate to generate more non-cash gains,' a tactic that has been linked to other notorious life settlement frauds such as GWG Holdings. Following this news, shares of Abacus Global Management, Inc. plummeted over 30% in intraday trading on June 4, 2025, causing significant harm to investors. About Gibbs Mura, A Law Group Gibbs Mura represents investors nationwide in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world's largest corporations, and our attorneys have received numerous honors for their work, including 'Best Lawyers in America,' 'Top Plaintiff Lawyers in California,' 'California Lawyer Attorney of the Year,' 'Class Action Practice Group of the Year,' 'Consumer Protection MVP,' and 'Top Women Lawyers in California.' This press release may constitute Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Business Wire
29-05-2025
- Business
- Business Wire
Tempus AI, Inc. (NASDAQ: TEM) Securities Fraud Investigation; Investors Urged to Contact Award-Winning Firm, Gibbs Mura
OAKLAND, Calif.--(BUSINESS WIRE)--Shares of Tempus AI, Inc. fell over 19% in intraday trading on Wednesday, May 28, 2025, after Spruce Point Capital Management published a report alleging that Tempus AI is engaging in 'aggressive and suspicious accounting practices,' and the company's leaders are 'connected to troubling financial restatements and SEC-charged fraud allegations.' Gibbs Mura is investigating a potential Tempus AI, Inc. (NASDAQ: TEM) Securities Class Action Lawsuit on behalf of shareholders who lost money in Tempus AI, Inc. What Should Tempus AI, Inc. Investors Do? If you invested in Tempus AI, Inc., visit our Tempus AI, Inc. investigation webpage, or call us at (888) 410-2925 to get more information about how you may be able to recover your losses. Our investigation concerns whether Tempus AI, Inc. has violated federal securities laws by providing false or misleading statements to investors. What is the Tempus AI, Inc. (TEM) Lawsuit Investigation About? On May 28, 2025, Spruce Point Capital Management published a report alleging that Tempus AI is engaging in 'aggressive and suspicious accounting practices,' and that the company is run by 'leaders who have a dubious history.' According to Spruce Point, Tempus AI's CEO has a documented history of 'public shareholder wealth destruction,' and the company's board members and Chief Accounting Officer are connected to 'troubling financial restatements and SEC-charged fraud allegations.' The report also raises questions about Tempus AI's accounting and financial reporting, claiming that the company has 'suspicious revenue-generating partnerships,' which purportedly 'embellish the Company's weakening position.' Following this news, shares of Tempus AI, Inc. dropped over 19% in intraday trading on May 28, 2025, causing harm to investors. About Gibbs Mura Gibbs Mura represents investors nationwide in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world's largest corporations, and our attorneys have received numerous honors for their work, including 'Best Lawyers in America,' 'Top Plaintiff Lawyers in California,' 'California Lawyer Attorney of the Year,' 'Class Action Practice Group of the Year,' 'Consumer Protection MVP,' and 'Top Women Lawyers in California.' This press release may constitute Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Business Wire
09-05-2025
- Business
- Business Wire
Gibbs Mura Announces Investigation of Compass Diversified for Disclosing "Irregularities" in 2024 Financial Statements and Delaying Quarterly Earnings
OAKLAND, Calif.--(BUSINESS WIRE)--Shares of Compass Diversified ('CODI') fell over 59% in intraday trading on Thursday, May 8, 2025, after the company disclosed that its financial statements for fiscal year 2024 should no longer be relied upon due to an ongoing internal investigation into the company's subsidiary, which "preliminarily identified irregularities" in the subsidiary's 'financing, accounting, and inventory practices.' The company announced it will also delay its quarterly earnings and filing of its 2025 Q1 Form 10-Q. Gibbs Mura is investigating a potential Compass Diversified (NYSE: CODI) Securities Class Action Lawsuit on behalf of shareholders who lost money in Compass Diversified. What Should Compass Diversified Investors Do? If you invested in Compass Diversified, visit our Compass Diversified Lawsuit Investigation webpage, or call us at (888) 410-2925 to get more information about how you may be able to recover your losses. Our investigation concerns whether Compass Diversified has violated federal securities laws by providing false or misleading statements to investors. What is the Compass Diversified (CODI) Lawsuit Investigation About? After the market closed on May 7, 2025, Compass Diversified disclosed that its financial statements for fiscal year 2024 should no longer be relied upon due to an ongoing internal investigation into the Company's subsidiary, Lugano Holding, Inc. The ongoing investigation 'preliminarily identified irregularities in Lugano's non-CODI financing, accounting, and inventory practices,' leading the Audit Committee of CODI's Board to conclude that the previously issued 2024 financial statements require restatement. The company will also delay its quarterly earnings and the filing of its 2025 Q1 Form 10-Q. Additionally, Compass Diversified revealed that Lugano's founder and CEO, Moti Ferder, had 'resigned from all of his positions at Lugano and will not receive any severance compensation.' Following this news, shares of Compass Diversified dropped over 59% in intraday trading on May 8, 2025, causing harm to investors. About Gibbs Mura, A Law Group Gibbs Mura represents investors nationwide in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world's largest corporations, and our attorneys have received numerous honors for their work, including 'Best Lawyers in America,' 'Top Plaintiff Lawyers in California,' 'California Lawyer Attorney of the Year,' 'Class Action Practice Group of the Year,' 'Consumer Protection MVP,' and 'Top Women Lawyers in California.' This press release may constitute Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
