Latest news with #Pomerantz
Business Upturn
3 days ago
- Business
- Business Upturn
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of NWTN Inc.
NEW YORK, June 06, 2025 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of NWTN Inc. ('NWTN' or the 'Company') (NASDAQ: NWTN). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether NWTN and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On May 28, 2025, NWTN disclosed receipt of a determination notice from Nasdaq, informing the Company that its securities will be delisted from Nasdaq in accordance with its listing rules. On this news, NWTN's stock price fell $0.72 per share, or 32%, over the following two trading sessions, to close at $1.53 per share on May 30, 2025. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:Danielle PeytonPomerantz LLP [email protected] 646-581-9980 ext. 7980
Business Upturn
3 days ago
- Business
- Business Upturn
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Summit Therapeutics Inc.
NEW YORK, June 06, 2025 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Summit Therapeutics Inc. ('Summit' or the 'Company') (NASDAQ: SMMT). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether Summit and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On May 30, 2025, Summit issued a press release 'announc[ing] topline results from the Phase III clinical trial, HARMONi, the first global Phase III study evaluating ivonescimab[.]' Although patients treated with ivonescimab and chemotherapy were 48% less likely to progress or die than patients who received chemo alone, the drug failed to make a statistically significant difference in overall survival, a metric that measures how long patients live before dying of any cause. On this news, Summit's stock price fell $7.99 per share, or 30.5%, to close at $18.22 per share on May 30, 2025. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT:Danielle PeytonPomerantz LLP [email protected] 646-581-9980 ext. 7980
San Francisco Chronicle
6 days ago
- Business
- San Francisco Chronicle
It was one of California's biggest natural wineries. Then it became a cautionary tale
Only a year ago, Subject to Change Wine Co. looked to be on top of the world. Owner Alex Pomerantz was one of the country's largest producers of natural wine, with a Whole Foods partnership and a successful annual wine festival. He was getting ready to launch an affordable brand, All Hours, that he hoped would bring natural wine to the masses. But by March, Pomerantz was sure he was going under. Sitting in a redwood-paneled booth at Bar Gemini, the Mission District spot owned by his partner Dominique Henderson, Pomerantz described a business in disarray: debt, crashing sales, pallets of unsold wine piling up in his winery in Richmond. He'd laid off his three employees, was in the process of breaking his lease and was trying to sell off all of his winemaking equipment. Three months later, Pomerantz sees a glimmer of hope for Subject to Change — though it looks radically different from where he thought it would be. He's scrounged up enough capital to do a bottling run, which means he'll be able to move about 5,000 cases worth of wine from barrel to bottle soon. He plans to finally debut All Hours. He's still not sure what the future holds for his winery, which he called 'collateral damage in the larger market downturn.' Without its own staff or facility, it will at best be a shrunken version of the business he'd been building for eight years. Pomerantz won't produce any new wine this harvest season. 'There's bound to be fundamental change in this entire industry,' Pomerantz said. 'I just don't feel like I know the way anymore.' When Pomeranz started Subject to Change in 2017, 'natural wine was this 'if you know you know' thing,' he said. He wanted to make fun, accessible wines that would reach beyond the niche groups that populated the exclusive-feeling natural wine bars he frequented. The name 'Subject to Change' was initially a placeholder, but then he decided to keep it. Pomerantz found a remarkably wide fan base. His wines — especially the skin-fermented Sauvignon Blanc Disco! and the carbonic Zinfandel Lune Juice — became ubiquitous at trendy Bay Area restaurants. Subject to Change was distributed in 35 states and 15 countries. He hired a small team and leased a 7,000-square-foot winery in Richmond. 'It freakin' skyrocketed,' he said. 'We got to the point where it was like, wow, we've built this thing out.' Then 'it just faded,' Pomerantz said, 'slowly and then all at once.' The wine industry's overall sales decline was especially bad news for a winemaker who had been aggressively increasing his production. Whole Foods, whose private label once represented 20% of Subject to Change's overall revenue, canceled its contract. 'We were the most prone to getting caught with our pants down in the downturn,' he said. 'We were big, we were leveraged, we were growing at the wrong time.' The business fell behind on bills. He laid off his staff after realizing he wouldn't be able to make payroll. He hoped that launching All Hours, a line of $25 wines that he imagined would bring his natural-wine philosophy to a truly broad audience, would turn things around. But when Pomerantz offered All Hours to his distributors last summer, the response was disappointing. Some distributors wanted just three cases; he'd been hoping they'd take entire pallets. He didn't even have the money required to bottle them. In the past, Pomerantz would have regarded a lackluster sales season as an impetus to get creative with products and strategy. 'But with this amount of uncertainty you can't just keep doubling down,' he said. 'Frankly I'm also exhausted.' Once he decided to break his winery lease, Pomerantz needed to move the wine out of the tanks and barrels that he hoped to resell. Bottling costs money, but he said he found 'scrappy ways to finance it,' allowing him to have a new batch of wines to send into the world. This fall, Pomerantz will release some of his 2023 wines that had been languishing, like his Chill Pill Chenin Blanc and ETA Rosé. He'll finally debut the All Hours wines: a white, an orange, a chilled red, a red blend and a Cabernet Sauvignon. He'll focus on selling those wines — plus possibly some additional bulk wine — and paying down the business' debt. Beyond that, he's not sure what he'll do. Subject to Change will still be subject to change. Meanwhile, Pomerantz is devoting himself to another project: Transforming Henderson's Mission District wine shop, Gemini Bottle Co., into a gourmet grocery called Gemini Bottle & Market. That shop, too, has suffered from the decline in wine sales. 'The fact is, that place just doesn't pencil out purely on beer, wine or spirits anymore,' he said. He'll be adding groceries — everything from Cream Co. steaks and frozen lasagnas to pasta sauce and ice cream — while Henderson continues to focus on Bar Gemini nearby. 'Wine sales may be down,' Pomerantz said, 'but people still gotta eat.'
Business Upturn
02-06-2025
- Business
- Business Upturn
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Savara Inc.
NEW YORK, June 02, 2025 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Savara Inc. ('Savara' or the 'Company') (NASDAQ: SVRA). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether Savara and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On May 27, 2025, Savara issued a press release 'announc[ing] that the Company received [a refusal to file] letter from the FDA for the [Biologics License Application] of MOLBREEVI as a therapy to treat patients with autoimmune PAP.' On this news, Savara's stock price fell $0.90 per share, or 31.69%, to close at $1.94 per share on May 27, 2025. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Danielle PeytonPomerantz LLP [email protected] 646-581-9980 ext. 7980
Business Upturn
18-05-2025
- Business
- Business Upturn
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of New Fortress Energy Inc.
NEW YORK, May 18, 2025 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of New Fortress Energy Inc. ('New Fortress' or the 'Company') (NASDAQ: NFE). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether New Fortress and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On May 14, 2025, New Fortress issued a press release reporting its financial results for the first quarter of 2025. New Fortress disclosed weak performance across its business segments. Among other items, New Fortress reported total revenue of $470.5 million, compared to $690.3 million for the same period in 2024, as well as a net loss of $197.4 million, or $0.73 per share, compared to net income of $56.7 million, or $0.26 per share for the same period in 2024. On this news, New Fortress's stock price fell $4.27 per share, or 62.98%, to close at $4.27 per share on May 15, 2025. Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Danielle PeytonPomerantz LLP [email protected] 646-581-9980 ext. 7980
