Latest news with #ThomasW.Elrod
Business Wire
3 days ago
- Business
- Business Wire
Kirby McInerney LLP is Investigating Potential Shareholder Claims Against Arvinas, Inc. (ARVN)
NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP reminds investors that the firm is investigating potential claims against Arvinas, Inc. ('Arvinas' or the 'Company') (NASDAQ:ARVN). The firm's ongoing investigation concerns whether Arvinas and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices. On May 1, 2025, Arvinas and its partner Pfizer announced that they would discontinue development of vepdegestrant, an oral SERD for HR-positive breast cancer. The move eliminated two planned Phase 3 studies, following the termination of VERITAC-3 in January. According to The Fly, a financial news platform, Oppenheimer & Co. 'was surprised by the announcement' and questioned whether 'Arvinas' management isn't telling us the whole story.' Arvinas had repeatedly pointed to clinical progress for vepdegestrant and the drug's commercial opportunity, leaving investors caught off guard by the abrupt pivot. On this news, the price of Arvinas shares declined by $2.39 per share, or approximately 25%, from $9.62 per share on April 30, 2025, to close at $7.23 on May 1, 2025. If you purchased or otherwise acquired Arvinas securities, have information, or would like to learn more about this investigation, 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. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Business Wire
3 days ago
- Business
- Business Wire
Kirby McInerney LLP is Investigating Potential Shareholder Claims Against Ichor Holdings, Inc. (ICHR)
NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP reminds investors that the firm is investigating potential claims against Ichor Holdings, Inc. ('Ichor' or the 'Company') (NASDAQ:ICHR). The firm's ongoing investigation concerns whether Ichor and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices. [Click here to learn more about the investigation ] On May 5, 2025, Ichor released its first quarter 2025 financial results, missing EPS and revenue consensus estimates and reporting gross margin of 12.4%, below the forecasted midpoint of 14.5%. The Company explained 'In Q1, our strategy did not materialize into the margin flow through we anticipated, essentially because we ended up purchasing far more external supply than we had forecasted.' On this news, the price of Ichor shares declined by $4.84 per share, or approximately 23%, from $20.84 per share on May 5, 2025, to close at $16.00 on May 6, 2025. If you purchased or otherwise acquired Ichor securities, have information, or would like to learn more about this investigation, 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. 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. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Business Wire
3 days ago
- Business
- Business Wire
Kirby McInerney LLP Reminds Krispy Kreme, Inc. (DNUT) Investors of Class Action Filing and Encourages Investors to Contact the Firm
NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP reminds investors who purchased Krispy Kreme, Inc. ('Krispy Kreme' or the 'Company') (NASDAQ:DNUT) securities to 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 the securities fraud class action lawsuit against the Company. The lawsuit was filed on behalf of investors who acquired Krispy Kreme securities from February 25, 2025, through May 7, 2025 ('the Class Period'). Investors have until July 15, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit. On October 26, 2022, Krispy Kreme commenced a small-scale test to offer donuts at McDonald's Corporation ('McDonald's') restaurants in Louisville, Kentucky and the surrounding area. On March 26, 2024, Krispy Kreme and McDonald's announced they would expand their partnership nationwide beginning in the second half of 2024. On May 8, 2025, before the market opened, Krispy Kreme released its first quarter 2025 financial results, reporting its 'net revenue was $375.2 million…a decline of 15.3%' and a 'net loss of $33.4 million, compared to prior year net loss of $6.7 million.' Additionally, the Company announced that it is 'reassessing [its] deployment schedule together with McDonald's' and 'withdrawing [its] prior full year outlook and not updating it' due in part to 'uncertainty around the McDonald's deployment schedule.' On this news, the price of Krispy Kreme shares declined by $1.07 per share, or approximately 24%, from $4.33 per share on May 7, 2025, to close at $3.26 on May 8, 2025. The complaint alleges that defendants, throughout the Class Period, failed to disclose that: (1) that demand for Krispy Kreme products declined materially at McDonald's locations after the initial marketing launch; (2) that demand at McDonald's locations was a driver of declining average sales per door per week; (3) that the partnership with McDonald's was not profitable; (4) that the foregoing posed a substantial risk to maintaining the partnership with McDonald's; and (5) that, as a result, the Company would pause expansion into new McDonald's locations. 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.
Business Wire
23-05-2025
- Business
- Business Wire
Kirby McInerney LLP Reminds West Pharmaceutical Services, Inc. (WST) Investors of Class Action Filing and Encourages Investors to Contact the Firm
NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP reminds investors who purchased West Pharmaceutical Services, Inc. ('West' or the 'Company') (NYSE:WST) securities to 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 the securities fraud class action lawsuit against the Company. The lawsuit was filed on behalf of investors who acquired West securities during the period from February 16, 2023, through February 12, 2025 ('the Class Period'). Investors have until July 7, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit. On February 13, 2025, when West issued extremely weak 2025 revenue and earnings forecasts, West attributed the disappointing guidance in part on CM headwinds, including the loss of two major continuous glucose monitoring ('CGM') customers that had begun transitioning to in-house manufacturing of next generation devices after West 'made the decision to not participate going forward as our financial thresholds cannot be achieved.' West also revealed that its SmartDose wearable injector devices would be 'margin dilutive' in 2025 and that it would be 'taking steps to improve [its SmartDose] economics, and all options are on the table.' On this news, the price of West shares declined by $123.17 per share, or approximately 38%, from $322.28 per share on February 12, 2025, to close at $199.11 on February 13, 2025. The complaint alleges that defendants, throughout the Class Period, failed to disclose that: (1) despite claiming strong visibility into customer demand and attributing headwinds to temporary COVID-related product destocking, West was in fact experiencing significant and ongoing destocking across its high-margin HVP portfolio; (2) West's SmartDose device, which was purportedly positioned as a high-margin growth product, was highly dilutive to the Company's profit margins due to operational inefficiencies; and (3) these margin pressures created the risk of costly restructuring activities, including the Company's exit from CGM contracts with long-standing customers. 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.
Business Wire
22-05-2025
- Business
- Business Wire
Kirby McInerney LLP Reminds Ibotta, Inc. (IBTA) Investors of Class Action Filing and Encourages Investors to Contact the Firm
NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP reminds investors who purchased Ibotta, Inc. ('Ibotta' or the 'Company') (NYSE:IBTA) securities to contact Thomas W. Elrod of by email at investigations@ or fill out the contact form below, to discuss your rights or interests with respect to the securities fraud class action lawsuit against the Company. The lawsuit was filed on behalf of investors who acquired Ibotta securities in connection with Ibotta's April 18, 2024 initial public offering ('IPO'). Investors have until June 16, 2025, to apply to the Court to be appointed as lead plaintiff in the lawsuit. The complaint alleges that defendants failed to disclose the risk concerning Ibotta's contract with The Kroger Co. ('Kroger') in the registration statement and related prospectus (collectively, the 'Registration Statement') issued in connection with its IPO. On April 18, 2024, Ibotta filed the final prospectus for the IPO of common stock with the SEC. In the IPO, Ibotta sold 2.5 million shares of $88.00 per share, with selling stockholders offering an additional 4 million shares. The Company received gross proceeds of approximately $206.8 million. Under applicable SEC rules and regulations, the Registration Statement was required to disclose known trends, events or uncertainties that were having, and were reasonably likely to have, an impact on the Company's continuing operations. The Registration Statement stated, in pertinent parts, in the Risk Factors section, that 'we [Ibotta] provide offers on a white-label basis to…The Kroger Co., and other retailers' and 'Our inability to maintain our relationship with our publishers on terms consistent with or better than those already in place and that are otherwise favorable to us could increase competitive pressure and/or offering pricing, and otherwise adversely affect our business, financial condition, results of operations, and prospects.' The complaint alleges that Ibotta's statements did not properly warn investors of the risks concerning Ibotta's contract with Kroger. Rather than disclosing the very real risk of a major client walking away at any time, Ibotta provided boilerplate warnings concerning the importance of maintaining ongoing relationships with their clients. On August 13, 2024, after market hours, the Company filed a quarterly report on Form 10-Q for the quarter ended June 30, 2024 ('2Q 2024 10-Q') with the SEC. The 2Q 2024 10-Q was deemed filed on August 14, 2024, by the SEC. Notably missing from the 2Q 2024 10-Q was any mention of Kroger as Ibotta's client. The price of Ibotta's securities have plummeted since the IPO, closing at $47.69 per share on April 17, 2025 – a 45% decrease from its IPO price of $88.00 per share. 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.
