Latest news with #SecuritiesClassAction
Associated Press
23-05-2025
- Business
- Associated Press
Scott+Scott Attorneys at Law LLP Reminds Investors of the Ongoing Action Against Iovance Biotherapeutics, Inc. (NASDAQ: IOVA)
NEW YORK, May 23, 2025 (GLOBE NEWSWIRE) -- Scott+Scott Attorneys at Law LLP ('Scott+Scott'), an international shareholder and consumer rights litigation firm, alerts investors that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California against Iovance Biotherapeutics, Inc. ('Iovance' or the 'Company') (NASDAQ: IOVA), and certain of its former and current officers and/or directors (collectively, 'Defendants'). The Class Action asserts claims under §§10(b) and 20(a) of the Securities Exchange Act of 1934 (15 U.S.C. §§78j(b) and 78t(a)) and U.S. Securities and Exchange Commission Rule 10b-5 promulgated thereunder (17 C.F.R. §240.10b5) on behalf of all persons other than Defendants who purchased or otherwise acquired Iovance securities between May 9, 2024, and May 8, 2025, inclusive (the 'Class Period'), and were damaged thereby (the 'Class'). The Class Action is captioned: Farberov v. Iovance Therapeutics, Inc., et al., No. 3:25-cv-04199 (N.D. Cal.). CLICK HERE TO RECEIVE ADDITIONAL INFORMATION ABOUT THIS POTENTIAL CLASS ACTION Iovance is a commercial-stage biopharmaceutical company that develops and commercializes cell therapies for the treatment of metastatic melanoma and other solid tumor cancers. The Company's top priority is the commercialization of Amtagvi, a tumor-derived autologous T-cell immunotherapy used to treat adult patients with unresectable or metastatic melanoma. The Company received FDA approval for Amtagvi on February 16, 2024. The Company commercially launched Amtagvi on February 20, 2024. The Class Action alleges that, during the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) new Authorized Treatment Centers ('ATCs') were experiencing longer timelines to begin treating patients with Amtagvi; (2) the Company's sales team and new ATCs were ineffective in patient identification and patient selection for Amtagvi, leading to higher patient drop-offs; (3) the foregoing dynamics led to higher costs and lower revenue because ATCs could not keep pace with manufactured product; and (4) 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. The truth began to emerge on May 8, 2025, after market hours, when the Company released its 1Q25 financial results, revealing a quarterly total product revenue of $49.3 million, a significant decline from the prior quarter's $73.7 million. The Company also announced its FY25 total product revenue guidance had been slashed from between $450 million and $475 million to between $250 million and $300 million. The Company revealed it was 'revising full-year 2025 revenue guidance to reflect recent launch dynamics' of Amtagvi. The Company further revealed '[t]he updated forecast considers experience with ATC [authorized treatment center] growth trajectories and treatment timelines for new ATCs.' On this news, the price of Iovance shares declined $1.42 per share, or 44.8%, to close at $1.75 per share on May 9, 2025, on unusually heavy trading volume. ARE YOU A POTENTIAL CLASS MEMBER ELIGIBLE TO RECOVER? CLICK HERE If you purchased or otherwise acquired Iovance securities during the Class Period and were damaged thereby, you are a member of the 'Class' and may be able to seek appointment as lead plaintiff. If you wish to apply to be lead plaintiff, a motion on your behalf must be filed with the U.S. District Court for the Northern District of California no later than July 14, 2025. The lead plaintiff is a court-appointed representative for absent class members of the Class. You do not need to seek appointment as lead plaintiff to share in any Class recovery in the Class Action. If you are a Class member and there is a recovery for the Class, you can share in that recovery as an absent Class member. If you wish to apply to be lead plaintiff, please contact attorney Nicholas Bruno at (888) 398-9312 or at [email protected]. CLICK HERE TO FIND OUT IF YOU CAN RECOVER YOUR LOSSES About Scott+Scott Scott+Scott is an international law firm known for its expertise in representing corporate clients, institutional investors, businesses, and individuals harmed by anticompetitive conduct or other forms of wrongdoing, including securities law and shareholder violations. With more than 100 attorneys in eight offices in the United States, as well as three offices in Europe, our advocacy has resulted in significant monetary settlements on behalf of our clients, along with other forms of relief. Our highly experienced attorneys have been recognized for being among the top financial lawyers in 2024 by Lawdragon, WWL: Commercial Litigation 2024, and Legal 500 in Antitrust Civil Litigation, and have received top Chambers 2024 rankings. In addition, we have been repeatedly recognized by the American Antitrust Institute for the successful litigation of high-stakes anticompetitive claims in the United States. ARE YOU A POTENTIAL CLASS MEMBER IN ANOTHER CASE? CLICK HERE TO VIEW PENDING CLASS ACTIONS This may be considered Attorney Advertising. CONTACT: Nicholas Bruno Scott+Scott Attorneys at Law LLP 230 Park Avenue, 24th Floor, New York, NY 10169 (888) 398-9312 [email protected]
Yahoo
17-02-2025
- Business
- Yahoo
AI Chips Today - Legal Challenge Sparks Volatility Concerns for Micron Technology Investors
A recent class action lawsuit against Micron Technology, Inc. highlights alleged misleading statements related to the demand for its NAND products. According to the lawsuit, the company purportedly overstated market demand and the sustainability of interest in its semiconductor storage devices, leading to potential investor damages once the alleged inaccuracies became public. The Rosen Law Firm, representing the plaintiffs, emphasizes the March 10, 2025, deadline for interested parties to seek lead plaintiff status. This legal development underscores ongoing concerns and volatility in the AI chip sector, particularly for semiconductor manufacturers. last closed at $99.52 up 4%. In other trading, was a notable mover up 5.6% and closing at CN¥660.82. Meanwhile, lagged, down 8.2% to end trading at $169.20. Micron Technology's investment in high-bandwidth memory positions it for substantial growth in the expanding HBM market. Click here to explore a detailed narrative on how this strategic move could influence Micron's market position and profitability. For more on this topic, don't miss our Market Insights article, "DeepSeek Upends AI Industry," which explores the disruptive influence of DeepSeek's cost-effective R1 model on the GPU investment landscape and its potential implications for the AI chip market. ended the day at $138.85 up 2.6%. ended the day at $113.10 up 1.2%. settled at $23.60 down 2.2%. Embark on your investment journey to our 53 AI Chip Stocks selection, featuring Rockchip Electronics, ON Semiconductor and Giga Device Semiconductor, right here. Got skin in the game with these stocks? Elevate how you manage them by using Simply Wall St's portfolio, where intuitive tools await to help optimize your investment outcomes. Invest smarter with the free Simply Wall St app providing detailed insights into every stock market around the globe. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sources: Simply Wall St "ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Micron Technology, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – MU" from The Rosen Law Firm PA on GlobeNewswire (published 16 February 2025) Companies discussed in this article include SHSE:688256 NasdaqGS:MU NasdaqGS:NVDA NasdaqGS:AMD NasdaqGS:INTC and NasdaqGS:AMAT. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Yahoo
17-02-2025
- Business
- Yahoo
AI Chips Today - Legal Challenge Sparks Volatility Concerns for Micron Technology Investors
A recent class action lawsuit against Micron Technology, Inc. highlights alleged misleading statements related to the demand for its NAND products. According to the lawsuit, the company purportedly overstated market demand and the sustainability of interest in its semiconductor storage devices, leading to potential investor damages once the alleged inaccuracies became public. The Rosen Law Firm, representing the plaintiffs, emphasizes the March 10, 2025, deadline for interested parties to seek lead plaintiff status. This legal development underscores ongoing concerns and volatility in the AI chip sector, particularly for semiconductor manufacturers. last closed at $99.52 up 4%. In other trading, was a notable mover up 5.6% and closing at CN¥660.82. Meanwhile, lagged, down 8.2% to end trading at $169.20. Micron Technology's investment in high-bandwidth memory positions it for substantial growth in the expanding HBM market. Click here to explore a detailed narrative on how this strategic move could influence Micron's market position and profitability. For more on this topic, don't miss our Market Insights article, "DeepSeek Upends AI Industry," which explores the disruptive influence of DeepSeek's cost-effective R1 model on the GPU investment landscape and its potential implications for the AI chip market. ended the day at $138.85 up 2.6%. ended the day at $113.10 up 1.2%. settled at $23.60 down 2.2%. Embark on your investment journey to our 53 AI Chip Stocks selection, featuring Rockchip Electronics, ON Semiconductor and Giga Device Semiconductor, right here. Got skin in the game with these stocks? Elevate how you manage them by using Simply Wall St's portfolio, where intuitive tools await to help optimize your investment outcomes. Invest smarter with the free Simply Wall St app providing detailed insights into every stock market around the globe. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sources: Simply Wall St "ROSEN, GLOBAL INVESTOR COUNSEL, Encourages Micron Technology, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – MU" from The Rosen Law Firm PA on GlobeNewswire (published 16 February 2025) Companies discussed in this article include SHSE:688256 NasdaqGS:MU NasdaqGS:NVDA NasdaqGS:AMD NasdaqGS:INTC and NasdaqGS:AMAT. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
