Latest news with #investorlosses
Associated Press
2 days ago
- Business
- Associated Press
INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of NET Power
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In NET Power To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $50,000 in NET Power between June 9, 2023 and March 7, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] New York, New York--(Newsfile Corp. - June 8, 2025) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against NET Power Inc. ('Net Power' or the 'Company') (NYSE: NPWR) and reminds investors of the June 17, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. [ This image cannot be displayed. Please visit the source: ] Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Net Power was unlikely to complete Project Permian on schedule, and the project was likely to be significantly more expensive than Defendants had represented, because of, inter alia, supply chain issues and numerous site- and region-specific challenges; (2) accordingly, Defendants' projections regarding the time and capital needed to complete Project Permian were unrealistic; (3) the increased time and capital needed to complete Project Permian were likely to have a significant negative impact on the Company's business and financial results; and (4) as a result, Defendants' public statements were materially false and misleading at all relevant times. On November 14, 2023, during pre-market hours, Net Power issued a press release announcing its third quarter 2023 results and providing a business update. Therein, the Company disclosed that "[d]ue to . . . tightness in the global supply chain, we are incorporating a 12-month cushion into our expected schedule for Project Permian' with Defendants 'now expecting to achieve initial power generation sometime between the second half of 2027 and first half of 2028.' This represented a significant delay from Defendants' initial schedule to have the plant operational by 2026. On this news, Net Power's stock price fell $2.47 per share, or 18.54%, to close at $10.85 per share on November 14, 2023. On March 10, 2025, during pre-market hours, Net Power issued a press release announcing its fourth quarter and full year 2024 results and providing a business update. Therein, Net Power disclosed that it 'now estimates Project Permian's total installed cost to be between $1.7 billion and $2.0 billion"-significantly higher than its last estimate of $1.1 billion-"which is inclusive of non-recurring first-of-a-kind, Project Permian site-specific and owner costs[,]' advising that 'there are a number of site- and region-specific challenges which impact cost.' The Company further advised that Project Permian 'would come online no earlier than 2029[,]' representing a significant delay from its prior timeline of sometime between the second half of 2027 and first half of 2028. In addition, Net Power reported that it ended 2024 'with $533 million in cash, cash equivalents, and investments, down from $580 million last quarter, primarily due to $13 million in operating cash outflows and $29 million in capital expenditures for La Porte upgrades and SN1 development.' On this news, Net Power's stock price fell $2.18 per share, or 31.46%, to close at $4.75 per share on March 10, 2025. Then, on April 15, 2025, Net Power issued a press release announcing that its President and Chief Operating Officer ('COO') and Chief Financial Officer would depart the Company on May 1, 2025, and that the Company had appointed a new COO, effective immediately. On this news, Net Power's stock price fell $0.13 per share, or 5.75%, to close at $2.13 per share on April 16, 2025. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding NET Powers' conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the NET Power class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( ). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. To view the source version of this press release, please visit
Bloomberg
6 days ago
- Business
- Bloomberg
Lex Greensill Set to Testify in $440 Million Credit Suisse UK Trial
Lex Greensill will testify in court for the first time since the high-profile collapse of his trade finance firm, as a $440 million Credit Suisse lawsuit against SoftBank Group Corp. gets underway. Evidence from the embattled financier will be the centerpiece of a month long London trial that starts on Thursday over investor losses in a failed startup. Credit Suisse is seeking damages from SoftBank alleging that a series of transactions with Greensill deprived its investors of $440 million in funds.
Associated Press
25-05-2025
- Business
- Associated Press
INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Organon
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Organon To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $75,000 in Organon between October 31, 2024 and April 30, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, May 25, 2025 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Organon & Co. ('Organon' or the 'Company') (NYSE: OGN) and reminds investors of the July 22, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See Defendants provided investors with material information concerning Organon's prioritization of its capital allocation strategy through regular, quarterly dividends. Defendants' statements included, among other things, reassurance that capital allocation through the aforementioned dividends was a '#1 capital allocation priority' and that Organon was committed to consistent deployment of capital. Defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of the Company's priorities, particularly, related to capital allocation through quarterly dividends. Notably, Defendants concealed the high priority of Organon's debt reduction strategy following the Company's acquisition of Dermavant, resulting in a 70% decrease for the regular quarterly dividend. Such statements absent these material facts caused Plaintiff and other shareholders to purchase Organon's securities at artificially inflated prices. Investors and analysts again reacted promptly to Organon's revelations. The price of Organon's common stock declined dramatically. From a closing market price of $12.93 per share on April 30, 2025, Organon's stock price fell to $9.45 per share on May 1, 2025, a decline of more than 27% in the span of just a single day. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Organon's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Organon & Co. class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. A photo accompanying this announcement is available at
Associated Press
11-05-2025
- Business
- Associated Press
Faruqi & Faruqi Reminds Sana Biotechnology Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of May 20, 2025
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Sana To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $50,000 in Sana between March 17, 2023 and November 4, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, May 11, 2025 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Sana Biotechnology, Inc. ('Sana' or the 'Company') (NASDAQ: SANA) and reminds investors of the May 20, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Sana was at significant risk of having insufficient funds to maintain its current operations and advance one or more of its product candidates; (2) SC291 in oncology, SC379, and SG299 were less promising than Defendants had led investors to believe; (3) in order to preserve cash and advance its more promising product candidates, Sana was likely to decrease funding for and/or discontinue SC291 in oncology, SC379, and SG299, as well as significantly reduce its headcount; (4) accordingly, Defendants overstated Sana's financial capacity to maintain its current operations and advance its existing product candidates; and (5) as a result, Defendants' public statements were materially false and/or misleading at all relevant times. On October 10, 2023, during after-market hours, Sana issued a press release announcing that it 'will reduce near-term spend on its fusogen platform for in vivo gene delivery' and instead "[i]ncreas[e its] focus on [its] ex vivo cell therapy platform[,]' thereby 'postpon[ing] the planned SG299 IND' while 'decreas[ing] its expected forward operating burn.' Sana further disclosed a '29% headcount reduction' that, in tandem with the 'decreased expenses related to the fusogen platform[,]' would keep its '2024 operating cash burn . . . below $200 million[,]' thereby 'allowing [its] current cash position to extend further into 2025.' The same press release also quoted Defendant Steven D. Harr ('Harr'), Sana's President and Chief Executive Officer, as stating that "[w]e need to ensure that we have a financeable cost structure with . . . emerging opportunities factored in,' and that 'this strategic re-positioning enables us to deliver significant clinical data across multiple drug candidates with the current balance sheet.' On this news, Sana's stock price fell $0.34 per share, or 8.95%, to close at $3.46 per share on October 11, 2023. Then, on November 4, 2024, during after-market hours, Sana issued a press release announcing that it 'will suspend development of both SC291 in oncology and of SC379 . . . as it seeks partnerships for these programs' and instead 'increase its investment in its type 1 diabetes program with the cash savings from these changes[,]' thereby 'extend[ing] its expected cash runway into 2026.' The same press release also quoted Defendant Harr as stating that 'we need to ensure that we are directing our investments into the areas where we believe we can have the greatest impact for patients' and that "[t]his modified strategy will also help us reduce our cash burn but comes with the necessity of parting with some talented and valued colleagues.' On this news, Sana's stock price fell $0.37 per share, or 9.84%, to close at $3.39 per share on November 5, 2024. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Sana's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Sana Biotechnology class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. A photo accompanying this announcement is available at
