Latest news with #KirbyMcInerney
Globe and Mail
4 days ago
- Business
- Globe and Mail
XIFR INVESTOR ALERT: Kirby McInerney LLP Alerts XPLR Infrastructure, LP f/k/a NextEra Energy Partners, LP Investors of Important Lead Plaintiff Deadline in Class Action Lawsuit
The law firm of Kirby McInerney LLP alerts investors of the imminent September 8, 2025 deadline to seek the role of lead plaintiff in a federal securities class action filed on behalf of investors who acquired XPLR Infrastructure, LP f/k/a NextEra Energy Partners, LP ('XPLR' or the 'Company') (NYSE:XIFR) securities during the period from September 27, 2023 and January 27, 2025 ('the Class Period'). The firm encourages investors to contact the firm as soon as possible to be appointed lead plaintiff. [ LEARN MORE ABOUT THE CLASS ACTION ] On January 28, 2025, XPLR announced that it would suspend cash distributions to common unitholders entirely and essentially abandon its yieldco model. In a press release, XPLR revealed a strategic repositioning and stated that the Company was moving from a business model that focused almost entirely on raising new capital to acquire assets while distributing substantially all of its excess cash flows to unitholders to a model in which XPLR Infrastructure utilizes retained operating cash flows to fund attractive investments. In addition, XPLR announced that the Company's CEO and CFO had both resigned and been replaced. On this news, the price of XPLR's common units declined by $5.31, or approximately 33.6%, from $15.80 per unit on January 27, 2025 to close at $10.49 per unit on January 29, 2025. The lawsuit alleges that XPLR made materially false and/or misleading statements regarding the Company's: (i) struggle to maintain its operations as a yieldco; (ii) financing arrangements which were made while downplaying the attendant risks; (iii) inability to resolve those financings before their maturity date without risking unitholder dilution, and (iv) plan to halt cash distributions to investors and redirect funds to resolve those financings. If you purchased or otherwise acquired XPLR securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@ or fill out the contact form below, to discuss your rights or interests with respect to these matters without any cost to you. [ CONTACT FORM ] Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP's website. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Globe and Mail
11-07-2025
- Business
- Globe and Mail
Kirby McInerney LLP Urges Investors in DoubleVerify Holdings, Inc. (DV) to Inquire About Their Rights in Class Action Lawsuit
The law firm of Kirby McInerney LLP reminds investors of the July 21, 2025, deadline to seek the role of lead plaintiff in a federal securities class action filed on behalf of investors who acquired DoubleVerify Holdings, Inc. ('DoubleVerify' or the 'Company') (NYSE:DV) securities during the period from November 10, 2023, through February 27, 2025 ('the Class Period'). [ LEARN MORE ABOUT THE CLASS ACTION ] On February 28, 2024, DoubleVerify issued lower revenue growth expectations for the first quarter of 2024 due to 'a slow start by brand advertisers and a slow ramp by recently signed new large customers.' On this news, the price of DoubleVerify shares declined by $8.25 per share, or approximately 21%, from $39.24 per share on February 28, 2024, to close at $30.89 on February 29, 2024. On May 7, 2024, in connection with its first quarter 2024 earnings report, DoubleVerify surprised analysts by cutting its full-year 2024 revenue outlook due to customers that were pulling back on their ad spending. On this news, the price of DoubleVerify shares declined by $11.79 per share, or approximately 38%, from $30.57 per share on May 7, 2024, to close at $18.78 on May 8, 2024. Then, on February 27, 2025, when DoubleVerify reported lower-than-expected fourth quarter 2024 sales and earnings due in part to reduced customer spending, DoubleVerify also disclosed that the shift of ad dollars from open exchanges to closed platforms was negatively impacting the Company. On this news, the price of DoubleVerify shares declined by $7.83, or approximately 36%, from $21.73 per share on February 27, 2025, to close at $13.90 on February 28, 2025. Finally, on March 28, 2025, market research company Adalytics Research, LLC released a report claiming that DoubleVerify's web advertisement verification and fraud protection services are ineffective, and that DoubleVerify customers are regularly billed for ad impressions served to declared bots operating out of known data center server farms. On the same day, The Wall Street Journal reported that DoubleVerify regularly misses detection of nonhuman traffic in contradiction to the Company's claims that it helps brand avoid serving ads to nonhuman bot accounts. If you purchased or otherwise acquired DoubleVerify securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@ or fill out the form below, to discuss your rights or interests with respect to these matters without any cost to you. Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP's website.
Yahoo
11-07-2025
- Business
- Yahoo
Kirby McInerney LLP Announces Creation of DOJ Antitrust Whistleblower Practice
NEW YORK, July 11, 2025--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is pleased to announce that it has created a new practice group focused on supporting whistleblowers under the newly-announced U.S. Department of Justice's Antitrust Division Whistleblower Rewards Program. The DOJ Antitrust Division's Whistleblower Rewards Program offers rewards for individuals who report antitrust crimes and related offenses that harm consumers, taxpayers, and free market competition. Under the program rules, whistleblowers who voluntarily report original information about antitrust and related offenses that result in criminal fines or other recoveries of at least $1 million may be eligible to receive a whistleblower reward. Subject to the discretion of the Antitrust Division, if a whistleblower is eligible for an award the presumptive award amount will be between 15 and 30% of the amount of the criminal fine or recovery. "Kirby McInerney has developed one of the leading whistleblower practices in recent years. The Firm also has decades of experience litigating some of the most cutting-edge areas of antitrust and market manipulation cases," said David E. Kovel, Co-Managing Partner, will lead the Firm's new practice. Mr. Kovel added, "Kirby McInerney looks forward to bringing these experiences together to represent whistleblowers under the new DOJ Antitrust Whistleblower Program." Kirby McInerney's extensive antitrust experience prosecuting cases against corporations for violations of the full breadth of antitrust laws: illegal price fixing, unlawful monopolization, monopoly leveraging, illegal tying arrangements, illegal mergers or acquisitions, unfair competition, exclusive dealing, and refusals to deal. In the whistleblower context, Kirby McInerney represented the whistleblower who received the largest CFTC whistleblower award ever and the second largest whistleblower award arising under the Dodd-Frank and IRS whistleblower programs. That whistleblower received nearly $200 million in connection with recoveries by the CFTC and other regulators of billions of dollars from global banks who were alleged to have manipulated benchmark interest rates to illegally enrich itself to the detriment of other market participants. If you are aware of potential violations of antitrust laws and would like to discuss them with a member of Kirby McInerney's DOJ Antitrust Whistleblower Rewards Program team, please contact us at our dedicated whistleblower line, 212-699-1160, or by filling out this form. [CONTACT FORM] Kirby McInerney LLP is a New York-based law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. Additional information about the firm can be found at Kirby McInerney LLP's website. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. View source version on Contacts Kirby McInerney LLPDavid E. Kovel, Esq.212-699-1160https:// dkovel@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
11-07-2025
- Business
- Business Wire
Kirby McInerney LLP Announces Creation of DOJ Antitrust Whistleblower Practice
NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is pleased to announce that it has created a new practice group focused on supporting whistleblowers under the newly-announced U.S. Department of Justice's Antitrust Division Whistleblower Rewards Program. The DOJ Antitrust Division's Whistleblower Rewards Program offers rewards for individuals who report antitrust crimes and related offenses that harm consumers, taxpayers, and free market competition. Under the program rules, whistleblowers who voluntarily report original information about antitrust and related offenses that result in criminal fines or other recoveries of at least $1 million may be eligible to receive a whistleblower reward. Subject to the discretion of the Antitrust Division, if a whistleblower is eligible for an award the presumptive award amount will be between 15 and 30% of the amount of the criminal fine or recovery. 'Kirby McInerney has developed one of the leading whistleblower practices in recent years. The Firm also has decades of experience litigating some of the most cutting-edge areas of antitrust and market manipulation cases,' said David E. Kovel, Co-Managing Partner, will lead the Firm's new practice. Mr. Kovel added, 'Kirby McInerney looks forward to bringing these experiences together to represent whistleblowers under the new DOJ Antitrust Whistleblower Program.' Kirby McInerney's extensive antitrust experience prosecuting cases against corporations for violations of the full breadth of antitrust laws: illegal price fixing, unlawful monopolization, monopoly leveraging, illegal tying arrangements, illegal mergers or acquisitions, unfair competition, exclusive dealing, and refusals to deal. In the whistleblower context, Kirby McInerney represented the whistleblower who received the largest CFTC whistleblower award ever and the second largest whistleblower award arising under the Dodd-Frank and IRS whistleblower programs. That whistleblower received nearly $200 million in connection with recoveries by the CFTC and other regulators of billions of dollars from global banks who were alleged to have manipulated benchmark interest rates to illegally enrich itself to the detriment of other market participants. If you are aware of potential violations of antitrust laws and would like to discuss them with a member of Kirby McInerney's DOJ Antitrust Whistleblower Rewards Program team, please contact us at our dedicated whistleblower line, 212-699-1160, or by filling out this form. Kirby McInerney LLP is a New York-based law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. Additional information about the firm can be found at Kirby McInerney LLP's website. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Globe and Mail
11-07-2025
- Business
- Globe and Mail
FTRE INVESTOR ALERT: Kirby McInerney LLP Notifies Fortrea Holdings Inc. Investors of Upcoming Lead Plaintiff Deadline in Class Action Lawsuit
The law firm of Kirby McInerney LLP reminds investors of the August 1, 2025, deadline to seek the role of lead plaintiff in a federal securities class action filed on behalf of investors who acquired Fortrea Holdings Inc. ('Fortrea' or the 'Company') (NASDAQ:FTRE) securities during the period of July 3, 2023, through February 28, 2025 ('the Class Period'). [ LEARN MORE ABOUT THE CLASS ACTION ] In March 2024, the Company announced that it was targeting 2025 adjusted EBITDA margins on a full-year basis of approximately 13%. In August 2024, the Company slightly lowered its targeted adjusted 2025 EBITDA margins to the '11% to 12% range,' but touted that this would still 'represent a roughly 300 basis points improvement at the midpoint versus 2024, and broadly a 30% to 40% increase in adjusted EBITDA dollars delivered.' On September 25, 2024, the investment bank Jefferies published a report (the 'Jefferies Report') downgrading Fortrea from buy to hold. Among other things, the Jefferies Report cited perceived weaknesses in Fortrea's business model as a contract research organization amid pressure on biotechnology funding and suggested that the cost savings Fortrea expects to achieve by exiting the TSAs are 'not as material as [o]ne [m]ight think,' stating that 'IT infrastructure costs to exit the TSAs are already non-GAAPed out of adjusted EBITDA. Thus, once TSAs are exited, Fortrea will just be replacing TSA costs with internal operating costs.' On this news, the price of Fortrea shares declined by $2.73 per share, from $22.21 per share on September 24, 2024, to close at $19.48 on September 25, 2025. Then, on December 6, 2024, market analyst Baird Equity Research ('Baird') downgraded Fortrea to neutral from outperform after the Company abruptly cancelled two scheduled conferences. A Baird analyst said that 'given our ongoing concerns around the sector, Fortrea's choppy history post spin, and lack of clarity on the abrupt communications course change, we cannot recommend an actionable investment (buy or sell)[.]' On this news, the price of Fortrea shares declined by $1.90 per share from $23.57 per share on December 5, 2024, to close at $21.67 on December 6, 2024. Finally, on March 3, 2025, Fortrea announced its fourth quarter and full year 2024 financial results, disclosing that its 'targeted revenue and adjusted EBITDA trajectories for 2025 [were] not in line with [its] prior expectations.' Specifically, in an earnings call held that same day, Fortrea revealed that the Company's Pre-Spin projects are 'late in their life cycle [and] have less revenue and less profitability than expected for 2025' and that 'post-spin work is not coming on fast enough to offset the pre-spin contract economics.' The Company also said this 'older versus newer mix issue will continue to negatively impact Fortrea's financial performance during 2025.' On this news, the price of Fortrea shares declined by $3.47 per share, or approximately 25.1%, from $13.85 per share on February 28, 2025, to close at $10.38 on March 3, 2025. The complaint filed alleges that defendants, throughout the Class Period, failed to disclose that: (1) Fortrea overestimated the amount of revenue the Pre-Spin Projects were likely to contribute to the Company's 2025 earnings; (2) Fortrea overstated the cost savings it would likely achieve by exiting the TSAs; and (3) as a result, the Company's previously announced EBITDA targets for 2025 were inflated. If you purchased or otherwise acquired Fortrea securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@ or fill out the form below, to discuss your rights or interests with respect to these matters without any cost to you. CONTACT FORM Kirby McInerney LLP is a New York-based plaintiffs' law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP's website. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
