Latest news with #securitiesFraud
Bloomberg
6 days ago
- Business
- Bloomberg
Sports Park Promoters Plead Guilty to $280 Million Bond Fraud
A father and son from Phoenix pleaded guilty to defrauding several of the nation's biggest investment firms about the business prospects of a failed Arizona sports complex that wound up costing municipal bondholders more than $280 million. Randy Miller, 70, and his son Chad, 40, entered their pleas Wednesday to securities fraud and aggravated identity theft in Manhattan federal court. Victims of the scheme included Vanguard Group Inc., AllianceBernstein Holding LP, Macquarie Group 's Delaware Funds and others firms that invested in bonds linked to their Legacy Park development in Mesa.
Associated Press
27-05-2025
- Business
- Associated Press
DNUT INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that Krispy Kreme, Inc. Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit
SAN DIEGO--(BUSINESS WIRE)--May 27, 2025-- Robbins Geller Rudman & Dowd LLP announces that The Krispy Kreme class action lawsuit – captioned Cameron v. Krispy Kreme, Inc., No. 25-cv-00332 (W.D.N.C.) – seeks to represent purchasers or acquirers of Krispy Kreme, Inc. (NASDAQ: DNUT) securities and charges Krispy Kreme as well as certain of Krispy Kreme's top executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Krispy Kreme class action lawsuit, please provide your information here: You can also contact attorneysJ.C. SanchezorJennifer N. Caringalof Robbins Geller by calling 800/449-4900 or via e-mail at[email protected]. CASE ALLEGATIONS: Krispy Kreme, together with its subsidiaries, produces doughnuts. On October 26, 2022, Krispy Kreme commenced a small-scale test to offer doughnuts at McDonald's Corporation restaurants in Louisville, Kentucky and the surrounding area and on March 26, 2024, Krispy Kreme and McDonald's announced they would expand their partnership nationwide beginning in the second half of 2024, the complaint alleges. The Krispy Kreme class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) demand for Krispy Kreme products declined materially at McDonald's locations after the initial marketing launch; (ii) demand at McDonald's locations was a driver of declining average sales per door per week; (iii) the partnership with McDonald's was not profitable; (iv) the foregoing posed a substantial risk to maintaining the partnership with McDonald's; and (v) as a result, Krispy Kreme would pause expansion into new McDonald's locations. The Krispy Kreme class action lawsuit further alleges that on May 8, 2025, Krispy Kreme released its first quarter 2025 financial results, reporting its '[n]et revenue was $375.2 million . . . a decline of 15.3%' and a '[n]et [l]oss [of] $33.4 million, compared to prior year net loss of $6.7 million.' Additionally, Krispy Kreme 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,' the complaint alleges. On this news, the price of Krispy Kreme shares fell by nearly 25%, the Krispy Kreme class action lawsuit alleges. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Krispy Kreme securities during the Class Period to seek appointment as lead plaintiff in the Krispy Kreme class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Krispy Kreme class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Krispy Kreme class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Krispy Kreme class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. View source version on CONTACT: Robbins Geller Rudman & Dowd LLP J.C. Sanchez, Jennifer N. Caringal 655 W. Broadway, Suite 1900, San Diego, CA 92101 800-449-4900 [email protected] KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL SOURCE: Robbins Geller Rudman & Dowd LLP Copyright Business Wire 2025. PUB: 05/27/2025 11:15 AM/DISC: 05/27/2025 11:16 AM
Associated Press
18-05-2025
- Business
- Associated Press
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Northrop Grumman Corporation
NEW YORK, May 18, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Northrop Grumman Corporation ('Northrop Grumman' or the 'Company') (NYSE: NOC). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether Northrop Grumman 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 April 22, 2025, Northrop Grumman issued a press release announcing its financial results for the first quarter of 2025. Among other items, Northrop Grumman reported revenue of $9.47 billion, representing a 7% year-over-year decline and missing consensus estimates by $480 million. The Company's results included a charge of $477 million pretax tied to manufacturing updates related to its B-21 bomber program. On a related earnings call, Northrop Grumman's Chief Executive Officer attributed the 'charges on the [B-21 bomber] program' largely to 'inflationary factors[.]' On this news, Northrop Grumman's stock price fell $67.25 per share, or 12.66%, to close at $464.08 per share on April 22, 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 Peyton Pomerantz LLP
Associated Press
18-05-2025
- Business
- Associated Press
INVESTOR ALERT: Pomerantz Law Firm Reminds Investors with Losses on their Investment in West Pharmaceutical Services, Inc. of Class Action Lawsuit and Upcoming Deadlines
NEW YORK, May 18, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against West Pharmaceutical Services, Inc. ('West' or the 'Company') (NYSE: WST). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased. The class action concerns whether West and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. You have until July 7, 2025 to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired West securities during the Class Period. A copy of the Complaint can be obtained at [Click here for information about joining the class action] On February 13, 2025, West issued weak 2025 revenue and earnings forecasts. The Company attributed the disappointing guidance in part to headwinds affecting its Contract Manufacturing segment, including the loss of two major continuous glucose monitoring customers that had begun transitioning to in-house manufacturing of next-generation devices after West 'made the decision not to 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, West's stock price fell $123.17 per share, or 38.2%, to close at $199.11 per share on February 13, 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 Peyton Pomerantz LLP
Associated Press
18-05-2025
- Business
- Associated Press
INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of ICU Medical, Inc.
NEW YORK, May 18, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of ICU Medical, Inc. ('ICU' or the 'Company') (NASDAQ: ICUI). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980. The investigation concerns whether ICU 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 April 22, 2025, ICU disclosed receipt of a warning letter from the U.S. Food and Drug Administration ('FDA'), citing unauthorized changes to two of the Company's infusion pump products. The FDA's warning letter stated that the pumps were 'adulterated' and 'misbranded,' noting that the Company's modifications 'can significantly impact the functionality of the device with respect to the infusion pumps delivery profile, [and] alarm functionality.' The FDA further stated that these changes may have significantly impacted the safety and efficacy of the devices, raising concerns about the adequacy of ICU's regulatory disclosures. On this news, ICU's stock price fell $6.04 per share, or 4.42%, to close at $130.68 per share on April 22, 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 Peyton Pomerantz LLP
