Latest news with #securitiesfraud
CTV News
21 hours ago
- Business
- CTV News
B.C. Man fined $50,000 for breaching Alberta securities laws
A B.C. man has been fined $50,000 by the Alberta Securities Commission for involvement in a market manipulation scheme. (Bloomberg Creative Photos/Bloomberg Creative Collection) A B.C. man has been fined $50,000 by the Alberta Securities Commission (ASC) following a settlement agreement relating to a market manipulation scheme. In the settlement agreement, Michael Baron admitted to engaging in uptick trading and bid support of Softlab9 Software Solutions Inc. shares in 2020. At the time, the B.C. company was a reporting issuer in Alberta. 'Uptick trading and bid support are trading strategies used in market manipulations to show false momentum or interest in the trading of a stock and creating an artificial price for the stock, not reflective of genuine supply and demand,' said a statement from ASC Monday. 'Manipulative trading is a form of fraud and is fundamentally incompatible with investor protection, market fairness and public trust in capital markets,' said the ASC. As part of the settlement agreement, Baron agreed to resign all positions he may have had as a director and/or officer of any reporting issuer on top of paying the ASC $50,000. He is also prohibited for four years from acting as a director/officer of any reporting issuer, engaging in investor relations activities in respect of any reporting issuer, and trading in or purchasing securities or derivatives, with limited exceptions. A notice of hearing was issued by the ASC on April 2, 2024. According to the settlement agreement, Baron had a less-significant role in the admitted conduct than the other respondents. There were initially four other Albertan respondents involved, plus Baron. A hearing into the allegations against the others was scheduled to commence on May 26 but has been adjourned. A new date for the hearing has yet to be set.
Associated Press
2 days ago
- Business
- Associated Press
URGN STOCK: Suffer Losses on UroGen Pharma Ltd.? BFA Law Notifies Investors of Imminent July 28 Securities Class Action Deadline (NASDAQ:URGN)
NEW YORK, June 02, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against UroGen Pharma Ltd. (NASDAQ: URGN) and certain of the Company's senior executives for potential violations of the federal securities laws. If you invested in UroGen you are encouraged to obtain additional information by visiting Investors have until July 28, 2025, to ask the Court to be appointed to lead the case. The complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors who purchased UroGen securities. The case is pending in the U.S. District Court for the District of New Jersey and is captioned: Cockrell v. UroGen Pharma Ltd., et al., No. 3:25-cv-06088. Why was UroGen Sued for Securities Fraud? UroGen develops treatments for specialty cancers. The Company's lead pipeline product is UGN-102 (mitomycin), an intravesical solution intended to treat low-grade intermediate risk non-muscle invasive bladder cancer. One of the Phase 3 trials for UGN-102 is named ENVISION. As alleged, UroGen stated that the ENVISION trial met its primary endpoint and that UroGen had reached 'agreement with the FDA' that the ENVISION trial would support an NDA submission. In truth, the FDA had previously expressed significant concerns to UroGen regarding the ENVISION trial, which lacked a concurrent control arm. The Stock Declines as the Truth is Revealed On May 16, 2025, the FDA published a briefing document stating that it doubted whether the submitted data was sufficient to conclude that UGN-102 was effective. FDA stated that because 'ENVISION lacked a concurrent control arm,' the primary endpoints were 'difficult to interpret' and that UroGen 'chose not to conduct a randomized trial with a design and endpoints that the FDA considered appropriate.' On this news, the price of UroGen stock declined $2.54 per share, or nearly 26%, from a closing price of $9.85 per share on May 15, 2025, to $7.31 per share on May 16, 2025. Then, on May 21, 2025, the Oncologic Drugs Advisory Committee voted against approving the UGN-102 NDA, finding that the overall benefit-risk profile of UGN-102 was not favorable in patients with recurrent low-grade, intermediate-risk non-muscle invasive bladder cancer. On this news, the price of UroGen stock declined $3.37 per share, or nearly 45%, from a closing price of $7.54 per share on May 20, 2025, to $4.17 per share on May 21, 2025. Click here if you suffered losses: What Can You Do? If you invested in UroGen you may have legal options and are encouraged to submit your information to the firm. All representation is on a contingency fee basis, there is no cost to you. Shareholders are not responsible for any court costs or expenses of litigation. The firm will seek court approval for any potential fees and expenses. Submit your information by visiting: Or contact: Ross Shikowitz [email protected] 212-789-3619 Why Bleichmar Fonti & Auld LLP? Bleichmar Fonti & Auld LLP is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It was named among the Top 5 plaintiff law firms by ISS SCAS in 2023 and its attorneys have been named Titans of the Plaintiffs' Bar by Law360 and SuperLawyers by Thompson Reuters. Among its recent notable successes, BFA recovered over $900 million in value from Tesla, Inc.'s Board of Directors, as well as $420 million from Teva Pharmaceutical Ind. Ltd. For more information about BFA and its attorneys, please visit Attorney advertising. Past results do not guarantee future outcomes.
Associated Press
5 days ago
- Business
- Associated Press
IBTA LAWSUIT ALERT: Levi & Korsinsky Notifies Ibotta, Inc. Investors of a Class Action Lawsuit and Upcoming Deadline
NEW YORK, May 30, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in Ibotta, Inc. ('Ibotta' or the 'Company') (NYSE: IBTA) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Ibotta investors who were adversely affected by alleged securities fraud. This lawsuit is on behalf of persons or entities who purchased or otherwise acquired publicly traded Ibotta securities pursuant and/or traceable to documents issued in connection with Ibotta's April 18, 2024 initial public offering. Follow the link below to get more information and be contacted by a member of our team: IBTA investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500. CASE DETAILS: According to the filed complaint, defendants made false statements and/or concealed that they did not properly warn investors of the risks concerning Ibotta's contract with The Kroger Co. ('Kroger'). Kroger's contract was at-will, and Ibotta failed to warn investors that a large client could cancel their contract with Ibotta without warning. Despite providing a detailed explanation of the terms of Ibotta's contract with Walmart, there was not a single warning of the at-will nature of Kroger's contract. 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. WHAT'S NEXT? If you suffered a loss in Ibotta during the relevant time frame, you have until June 16, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate. WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. Ed Korsinsky, Esq. 33 Whitehall Street, 17th Floor New York, NY 10004 [email protected] Tel: (212) 363-7500 Fax: (212) 363-7171
Associated Press
5 days ago
- Business
- Associated Press
Class Action Filed Against UnitedHealth Group Incorporated (UNH) - July 7, 2025 Deadline to Join – Contact Levi & Korsinsky
NEW YORK, May 30, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in UnitedHealth Group Incorporated ('UnitedHealth Group Incorporated' or the 'Company') (NYSE: UNH) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of UnitedHealth Group Incorporated investors who were adversely affected by alleged securities fraud between December 3, 2024 and April 16, 2025. Follow the link below to get more information and be contacted by a member of our team: UNH investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500. CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) UnitedHealth had, for years, engaged in a corporate strategy of denying health coverage in order to boost its profits, and ultimately, its share price; (2) this anti-consumer strategy resulted in regulatory scrutiny against UnitedHealth, which ultimately resulted in the murder of Brian Thompson; (3) animus towards UnitedHealth was such that, subsequent to the murder of Mr. Thompson, many Americans openly celebrated his demise, expressed admiration for his accused killer, and/or otherwise demanded that UnitedHealth change its strategy even if they condemned Mr. Thompson's killing; (4) the foregoing regulatory and public outrage caused UnitedHealth to change its corporate practices; (5) notwithstanding the foregoing, UnitedHealth recklessly stuck with the guidance it issued the day before Thompson's murder, which was unrealistic considering the Company's changing corporate strategies; and (6) as a result, defendants' public statements were materially false and/or misleading at all relevant times. WHAT'S NEXT? If you suffered a loss in UnitedHealth Group Incorporated during the relevant time frame, you have until July 7, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate. WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. Ed Korsinsky, Esq. 33 Whitehall Street, 17th Floor New York, NY 10004 [email protected] Tel: (212) 363-7500 Fax: (212) 363-7171
Associated Press
5 days ago
- Business
- Associated Press
Class Action Filed Against West Pharmaceutical Services, Inc. (WST) - July 7, 2025 Deadline to Join – Contact Levi & Korsinsky
NEW YORK, May 30, 2025 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP notifies investors in West Pharmaceutical Services, Inc. ('West Pharmaceutical Services, Inc.' or the 'Company') (NYSE: WST) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of West Pharmaceutical Services, Inc. investors who were adversely affected by alleged securities fraud between February 16, 2023 and February 12, 2025. Follow the link below to get more information and be contacted by a member of our team: WST investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500. CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (a) 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; (b) 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; (c) these margin pressures created the risk of costly restructuring activities, including the Company's exit from continuous glucose monitoring contracts with longstanding customers; and (d) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially false and/or misleading or lacked a reasonable basis. WHAT'S NEXT? If you suffered a loss in West Pharmaceutical Services, Inc. during the relevant time frame, you have until July 7, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate. WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. Ed Korsinsky, Esq. 33 Whitehall Street, 17th Floor New York, NY 10004 [email protected] Tel: (212) 363-7500 Fax: (212) 363-7171
