Latest news with #FEDERALSECURITIESLAWS
Business Wire
11 hours ago
- Business
- Business Wire
LMT CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit On Behalf Of Lockheed Martin Corporation Investors
LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP ('GPM'), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Khan v. Lockheed Martin Corporation, et al., Case No. 1:25-cv-06197, on behalf of persons and entities that purchased or otherwise acquired Lockheed Martin Corporation ('Lockheed Martin' or the 'Company') (NYSE: LMT) securities between , inclusive (the 'Class Period'). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the 'Exchange Act'). Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action. IF YOU SUFFERED A LOSS ON YOUR LOCKHEED MARTIN INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS. What Happened? On October 22, 2024, before the market opened, Lockheed Martin announced it was forced to recognize losses of $80 million on a classified program at the Company's Aeronautics business segment 'due to higher than anticipated costs to achieve program objectives.' The Company also announced it had recognized a reach-forward loss in its Rotary and Mission Systems segment 'as a result of additional quantity ordering risk identified on fixed-price options.' On this news, the Company's share price fell $37.63 or 6.12% to close at $576.98 on October 22, 2024, on unusually heavy trading volume. Then, on January 28, 2025, before the market opened, Lockheed Martin announced it was forced to record pre-tax losses of $1.7 billion associated with classified programs at its Aeronautics and Missiles and Fire Control business. The Company explained 'as a result of performance trends' and 'in contemplation of near-term program milestones,' it had 'performed a comprehensive review of the program requirements, technical complexities, schedule, and risks' based on which it recognized $555 million of losses in its Aeronautics program. The Company further reported additional losses of approximately $1.3 billion in its Missiles and Fire Control business due to, among other things, the 'future requirements of the program, discussions with the customer and suppliers.' As a result, the Company's net earnings in 2024 were $5.3 billion, or $22.31 per share, compared to $6.9 billion, or $27.55 per share, in 2023. On this news, the Company's share price fell $46.24 or 9.2% to close at $457.45 on January 28, 2025 on unusually heavy trading volume. Then, on July 22, 2025, before the market opened, Lockheed Martin disclosed it was forced to record an additional $1.6 billion in pre-tax losses on classified programs, including $950 million in losses related to its Aeronautics Classified program due to 'design, integration, and test challenges, as well as other performance issues.' The Company also recorded $570 million in losses on its Canadian Maritime Helicopter Program due in part to providing 'additional mission capabilities, enhanced logistical support, fleet life extension, and revised expectations regarding flight hours.' The Company further recorded a $95 million charge related to its Turkish Utility Helicopter Program due to the 'current status of the program.' As a result, the Company reported sharply lower net earnings of $342 million, or $1.46 per share, including $1.6 billion of program losses and $169 million of other charges. On this news, the Company's share price fell $49.79 or 10.8%, to close at $410.74 on July 22, 2025, on unusually heavy trading volume. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Lockheed Martin lacked effective internal controls regarding its purportedly risk adjusted contracts including the reporting of its risk adjusted profit booking rate; (2) that Lockheed Martin lacked effective procedures to perform reasonably accurate comprehensive reviews of program requirements, technical complexities, schedule, and risks; (3) that Lockheed Martin overstated its ability to deliver on its contract commitments in terms of cost, quality and schedule; (4) that, as a result, the Company was reasonably likely to report significant losses; and (5) 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. If you purchased or otherwise acquired Lockheed Martin securities during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff. Contact Us To Participate or Learn More: If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Charles Linehan, Esq., Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles California 90067 Email: shareholders@ Telephone: 310-201-9150, Toll-Free: 888-773-9224 Visit our website at Follow us for updates on LinkedIn, Twitter, or Facebook. If you inquire by email, please include your mailing address, telephone number and number of shares purchased. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Business Wire
4 days ago
- Business
- Business Wire
Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm Encourages Neogen Corporation (NEOG) Investors To Inquire About Securities Fraud Class Action
LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, announces that a securities fraud class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Neogen Corporation ('Neogen' or the 'Company') (NASDAQ: NEOG) common stock between , inclusive (the 'Class Period'). Neogen investors have until September 16, 2025 to file a lead plaintiff motion. IF YOU SUFFERED A LOSS ON YOUR NEOGEN CORPORATION (NEOG) INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS What Happened? On January 10, 2025, Neogen disclosed that its second quarter GAAP net income was significantly negative due to a $461 million non-cash goodwill impairment charge related to its acquisition of the 3M Company ('3M'). The Company also revised its full year outlook, cutting revenue and EBITDA guidance. Further, the Company also revealed that as of November 30, 2024, it had material weaknesses in its internal control over financial reporting. On this news, Neogen's stock price fell $0.71, or 5.4%, to close at $12.36 per share on January 10, 2025, thereby injuring investors. Then, on April 9, 2025, Neogen disclosed that quarterly revenue had fallen 3.4% due, in part, to integration issues. The Company also further cut its full year revenue and EBITDA outlook and revealed that its CEO would be stepping down. On this news, Neogen's stock price fell $2.02, or 28.7%, to close at $5.02 per share on April 9, 2025. Then, on June 4, 2025, Neogen disclosed that, while its fourth quarter fiscal 2025 financial results would be 'materially approximate [to] where [the Company] had put [its] guide,' it 'would expect EBITDA margin to probably be around the high-teens' compared to the previous quarter's 22%. The Company explained that EBITDA margins would likely 'be in the low-20s, if not for the elevated inventory write-offs.' On this news, Neogen's stock price fell $1.04, or 17.3%, to close at $4.96 per share on June 4, 2025, thereby injuring investors further. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the integration with 3M was plagued with inefficiencies that Defendants knew would necessitate a goodwill impairment and would impact capital expenditures, revenues, and EBITDA margins; and (2) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you purchased or otherwise acquired Neogen common stock during the Class Period, you may move the Court no later than September 16, 2025 to request appointment as lead plaintiff in this putative class action lawsuit. Contact Us To Participate or Learn More: If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Charles Linehan, Esq., Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles California 90067 Email: shareholders@ Telephone: 310-201-9150, Toll-Free: 888-773-9224 Visit our website at Follow us for updates on LinkedIn, Twitter, or Facebook. If you inquire by email, please include your mailing address, telephone number and number of shares purchased. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Business Upturn
5 days ago
- Business
- Business Upturn
Deadline Alert: Reddit, Inc. (RDDT) Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit
LOS ANGELES, July 24, 2025 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP reminds investors of the upcoming August 18, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Reddit, Inc. ('Reddit' or the 'Company') (NYSE: RDDT) securities between October 29, 2024 and May 20, 2025, inclusive (the 'Class Period'). IF YOU SUFFERED A LOSS ON YOUR REDDIT INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS. What Happened? On May 1, 2025, after market hours, Reddit released its first quarter 2025 financial results, marking a third consecutive quarter with slowdown in daily active user growth. On this news, Reddit's stock price fell $4.96, or 4.2%, to close at $113.83 per share on May 2, 2025, thereby injuring investors. Then, on May 19, 2025, Wells Fargo analysts downgraded Reddit's stock, stating that Google's AI features would likely cause 'permanent' disruptions to user traffic for Reddit, and that traffic to Reddit from Google Search would continue to decline and ultimately hurt Reddit's advertising revenue. On this news, Reddit's stock price fell $5.24, or 4.6%, to close at $107.99 per share on May 19, 2025. Then, on May 21, 2025, Baird analysts downgraded Reddit's stock, citing similar concerns as Wells Fargo. On this news, Reddit's stock price fell $9.79, or 9.3%, to close at $95.85 per share on May 21, 2025, thereby injuring investors further. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) changes in Google Search's algorithm and features like AI Overview were causing users to stop their query on Google Search; (2) these algorithm changes were materially different than prior instances of reduced traffic to the Reddit website; (3) Defendants were aware that the increase in the query term 'Reddit' on search engines was because users were getting the sought after answer from Google Search without having to go to Reddit, and not because they intended to visit Reddit; (4) this zero-click search reality was dramatically reducing traffic to Reddit in a manner the Company was unable to overcome in the short term; (5) Defendants, therefore, lacked a reasonable basis for their outlook on user rates and advertising revenues; and (6) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you purchased or otherwise acquired Reddit securities during the Class Period, you may move the Court no later than August 18, 2025 to request appointment as lead plaintiff in this putative class action lawsuit. Contact Us To Participate or Learn More: If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Charles Linehan, Esq., Glancy Prongay & Murray LLP,1925 Century Park East, Suite 2100, Los Angeles California 90067 Email: [email protected] Telephone: 310-201-9150, Toll-Free: 888-773-9224 Visit our website at Follow us for updates on LinkedIn, Twitter, or Facebook.
Business Upturn
5 days ago
- Business
- Business Upturn
Deadline Alert: Centene Corporation (CNC) Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit
LOS ANGELES, July 24, 2025 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP reminds investors of the upcoming September 8, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Centene Corporation ('Centene' or the 'Company') (NYSE: CNC) securities between December 12, 2024 to June 30, 2025, inclusive (the 'Class Period'). IF YOU SUFFERED A LOSS ON YOUR CENTENE INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS. What Happened? On July 1, 2025, Centene announced that it was withdrawing its previous 2025 financial guidance following analysis of data from the Affordable Care Act marketplace that showed a significant revenue decline from a risk-sharing mechanism. On this news, Centene's stock price fell $22.87, or 40.4%, to close at $33.78 per share on July 2, 2025, thereby injuring investors. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) a preliminary analysis of over two-thirds of Centene's marketplace share showed lower-than-anticipated enrollment and increased aggregate market morbidity; and (2) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you purchased or otherwise acquired Centene securities during the Class Period, you may move the Court no later than September 8, 2025 to request appointment as lead plaintiff in this putative class action lawsuit. Contact Us To Participate or Learn More: If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Charles Linehan, Esq., Glancy Prongay & Murray LLP,1925 Century Park East, Suite 2100, Los Angeles California 90067 Email: [email protected] Telephone: 310-201-9150, Toll-Free: 888-773-9224 Visit our website at Follow us for updates on LinkedIn, Twitter, or Facebook.
Business Upturn
5 days ago
- Business
- Business Upturn
Deadline Alert: Biohaven Ltd. (BHVN) Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit
LOS ANGELES, July 24, 2025 (GLOBE NEWSWIRE) — Glancy Prongay & Murray LLP reminds investors of the upcoming September 12, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Biohaven Ltd. ('Biohaven' or the 'Company') (NYSE: BHVN) securities between March 24, 2023 and May 14, 2025, inclusive (the 'Class Period'). IF YOU SUFFERED A LOSS ON YOUR BIOHAVEN INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS. What Happened? On July 17, 2023, Biohaven disclosed that the FDA had rejected the New Drug Application ('NDA') for its spinocerebellar ataxia ('SCA') treatment, troriluzole, having refused to even review the application after the Phase 3 SCA Trial had failed to meet its primary endpoint. On this news, Biohaven's stock price fell $5.38, or 22.6%, to close at $18.42 per share on July 27, 2023, thereby injuring investors. Then, on March 3, 2025, Biohaven released its fourth quarter and full year 2024 financial results, disclosing that recent data from a late-stage study of its BHV-7000 treatment for bipolar mania 'did not statistically separate from the comparator on the Young Mania Rating Scale primary outcome measure[.]' On this news, Biohaven's stock price fell $5.12, or 13.8%, to close at $32.06 per share on March 3, 2025. Then, on April 25, 2025, news reports emerged that, according to the European Medicines Agency ('EMA'), Biohaven had withdrawn its Marketing Authorization Application ('MAA') for troriluzole in late March 2025. On this news, Biohaven's stock price fell $3.56, or 15.2%, to close at $19.84 per share on April 25, 2025. Then, on May 14, 2025, Biohaven announced that 'the Division of Neurology 1 within FDA's Office of Neuroscience informed the Company that they are extending the [Prescription Drug User Fee Act ('PDUFA')] date for the troriluzole [NDA] for the treatment of [SCA] by three months to provide time for a full review of Biohaven's recent submissions related to information requests from the FDA,' and that '[t]he Division also informed Biohaven that it is currently planning to hold an advisory committee meeting to discuss the application, but no date has been scheduled.' On this news, Biohaven's stock price fell $3.84, or 19.5%, to close at $15.82 per share on May 15, 2025, thereby injuring investors further. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) troriluzole's regulatory prospects as a treatment for SCA, and/or the sufficiency of data that Biohaven submitted in support of troriluzole's regulatory approval for this indication, were overstated; (2) BHV-7000's efficacy and clinical prospects as a treatment for bipolar disorder were likewise overstated; (3) all the foregoing, once revealed, was likely to have a significant negative impact on Biohaven's business and financial condition; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you purchased or otherwise acquired Biohaven securities during the Class Period, you may move the Court no later than September 12, 2025 to request appointment as lead plaintiff in this putative class action lawsuit. Contact Us To Participate or Learn More: If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Charles Linehan, Esq., Glancy Prongay & Murray LLP,1925 Century Park East, Suite 2100, Los Angeles California 90067 Email: [email protected] Telephone: 310-201-9150, Toll-Free: 888-773-9224 Visit our website at Follow us for updates on LinkedIn, Twitter, or Facebook.
