Latest news with #securitiesfraud
Associated Press
21 hours ago
- Business
- Associated Press
Bragar Eagel & Squire, P.C. Reminds Investors of Class Actions Against Neogen, Alto, RxSight, and Replimune and Encourages Investors to Contact the Firm
NEW YORK, July 28, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Neogen Corporation (NASDAQ:NEOG), Alto Neuroscience, Inc. (NYSE:ANRO), RxSight, Inc. (NASDAQ:RXST), and Replimune Group, Inc. (NASDAQ:REPL). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided. Neogen Corporation (NASDAQ:NEOG) The complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Specifically, the lawsuit alleges that throughout the Class Period, Defendants misrepresented the status of the 3M integration and failed to disclose the negative impact of integration issues on the financial health of Neogen. Defendants issued a series of materially false and misleading statements which led investors to believe that the integration was progressing smoothly. Defendants downplayed integration 'inefficiencies' and assured investors that they were fully aware and committed to resolving the issues quickly. Investors slowly learned the truth through a series of disclosures beginning on January 10, 2025. That day, the Company revealed that GAAP net income in the second quarter was significantly negative due to a $461 million non-cash goodwill impairment charge related to the 3M acquisition and cut its FY25 revenue and EBITDA guidance. Neogen also revealed that, as of November 30, 2024, the Company had material weaknesses in its internal control over financial reporting. On this news, the price of the Company's common stock declined 5% to close at $12.36 per share. In its next financial quarter, on April 9, 2025, Neogen announced that quarterly revenue fell 3.4% to $221 million due to integration issues and again cut its FY25 guidance and noted that capital expenditures were expected to be $100 million as a result of lowered adjusted EBITDA and a pull-forward of integration-related capital expenditures into FY25. Neogen also announced that CEO Adent would be stepping down. On this news, the price of the Company's common stock plummeted 28% to close at $5.02 per share, on a volume spike of 47 million shares. Finally, on June 4, 2025, Neogen revealed that it expected 'EBITDA margin to probably be around the high-teens' which represented a considerable drop from the previous quarter's profit margin of 22%. On this news, the price of the Company's common stock fell an additional 17%, to close at $4.96 per share. For more information on the Neogen class action go to: Alto Neuroscience, Inc. (NYSE:ANRO) According to the complaint, the Offering Documents in support of the IPO were negligently prepared. Additionally, during the class period, defendants failed to disclose that: (i) ALTO-100 was less effective in treating MDD than defendants had led investors to believe; (ii) accordingly, ALTO-100's clinical, regulatory, and commercial prospects were overstated; and (iii) as a result, Alto's business and/or financial prospects were overstated. On October 22, 2024, Alto issued a press release announcing topline results from the Phase 2b trial evaluating ALTO-100 as a treatment for MDD. That press release stated, in relevant part, that 'ALTO-100 in patients with [MDD] did not meet its primary endpoint, assessed by a change from baseline in Montgomery-Åsberg Depression Rating Scale (MADRS), compared to placebo.' On this news, Alto's stock price fell $10.17 per share, or 69.99%, to close at $4.36 per share on October 23, 2024. For more information on the Alto class action go to: RxSight, Inc. (NASDAQ:RXST) The RxSight class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) RxSight was experiencing 'adoption challenges' and/or structural issues resulting in declines in sales and utilization; (ii) defendants had overstated the demand for RxSight's products; and (iii) as a result, RxSight was unlikely to meet its own previously issued financial guidance for fiscal year 2025. The RxSight class action lawsuit further alleges that on July 8, 2025, RxSight reported preliminary second quarter of 2025 financial results, revealing significant declines in Light Delivery Device ('LDD') sales, LAL utilization, and overall revenue. RxSight also lowered its full year 2025 guidance by approximately $42.5 million at the midpoint, and RxSight's CEO, defendant Ronald Kurtz, disclosed that '[a]doption challenges over the last few quarters have been a primary reason for the LDD stall,' according to the complaint. The RxSight class action lawsuit alleges that on this news, the price of RxSight stock fell nearly 38%. For more information on the RxSight class action go to: Replimune Group, Inc. (NASDAQ:REPL) On July 22, 2025, Replimune issued a press release 'announcing that the U.S. Food and Drug Administration (FDA) has issued a Complete Response Letter (CRL) regarding the Biologics License Application (BLA) for RP1 (vusolimogene oderparepvec) in combination with nivolumab for the treatment of advanced melanoma.' Per the press release, "[t]he CRL indicates that the FDA is unable to approve the application in its present form. The FDA has indicated that the IGNYTE trial is not considered to be an adequate and well-controlled clinical investigation that provides substantial evidence of effectiveness. Furthermore, the FDA said the trial cannot be adequately interpreted due to the heterogeneity of the patient population. The CRL also states that there are items related to the confirmatory trial study design which need to be addressed, including contribution of components. Importantly, no safety issues were raised.' On this news, Replimune's stock price fell $9.52 per share, or 77.24%, to close at $2.81 per share on July 22, 2025. For more information on the Replimune class action go to: About Bragar Eagel & Squire, P.C.: Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit Attorney advertising. Prior results do not guarantee similar outcomes. Follow us for updates on LinkedIn, X, and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn and X. Contact Information: Bragar Eagel & Squire, P.C. Brandon Walker, Esq. Marion Passmore, Esq. (212) 355-4648 [email protected]
Globe and Mail
a day ago
- Business
- Globe and Mail
LMT CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit On Behalf Of Lockheed Martin Corporation Investors
Glancy Prongay & Murray LLP ('GPM'), announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Khan v. Lockheed Martin Corporation, et al., Case No. 1:25-cv-06197, on behalf of persons and entities that purchased or otherwise acquired Lockheed Martin Corporation ('Lockheed Martin' or the 'Company') (NYSE: LMT) securities between January 23, 2024 and July 21, 2025, inclusive (the 'Class Period'). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the 'Exchange Act'). Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action. IF YOU SUFFERED A LOSS ON YOUR LOCKHEED MARTIN INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS. What Happened? On October 22, 2024, before the market opened, Lockheed Martin announced it was forced to recognize losses of $80 million on a classified program at the Company's Aeronautics business segment 'due to higher than anticipated costs to achieve program objectives.' The Company also announced it had recognized a reach-forward loss in its Rotary and Mission Systems segment 'as a result of additional quantity ordering risk identified on fixed-price options.' On this news, the Company's share price fell $37.63 or 6.12% to close at $576.98 on October 22, 2024, on unusually heavy trading volume. Then, on January 28, 2025, before the market opened, Lockheed Martin announced it was forced to record pre-tax losses of $1.7 billion associated with classified programs at its Aeronautics and Missiles and Fire Control business. The Company explained 'as a result of performance trends' and 'in contemplation of near-term program milestones,' it had 'performed a comprehensive review of the program requirements, technical complexities, schedule, and risks' based on which it recognized $555 million of losses in its Aeronautics program. The Company further reported additional losses of approximately $1.3 billion in its Missiles and Fire Control business due to, among other things, the 'future requirements of the program, discussions with the customer and suppliers.' As a result, the Company's net earnings in 2024 were $5.3 billion, or $22.31 per share, compared to $6.9 billion, or $27.55 per share, in 2023. On this news, the Company's share price fell $46.24 or 9.2% to close at $457.45 on January 28, 2025 on unusually heavy trading volume. Then, on July 22, 2025, before the market opened, Lockheed Martin disclosed it was forced to record an additional $1.6 billion in pre-tax losses on classified programs, including $950 million in losses related to its Aeronautics Classified program due to 'design, integration, and test challenges, as well as other performance issues.' The Company also recorded $570 million in losses on its Canadian Maritime Helicopter Program due in part to providing 'additional mission capabilities, enhanced logistical support, fleet life extension, and revised expectations regarding flight hours.' The Company further recorded a $95 million charge related to its Turkish Utility Helicopter Program due to the 'current status of the program.' As a result, the Company reported sharply lower net earnings of $342 million, or $1.46 per share, including $1.6 billion of program losses and $169 million of other charges. On this news, the Company's share price fell $49.79 or 10.8%, to close at $410.74 on July 22, 2025, on unusually heavy trading volume. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Lockheed Martin lacked effective internal controls regarding its purportedly risk adjusted contracts including the reporting of its risk adjusted profit booking rate; (2) that Lockheed Martin lacked effective procedures to perform reasonably accurate comprehensive reviews of program requirements, technical complexities, schedule, and risks; (3) that Lockheed Martin overstated its ability to deliver on its contract commitments in terms of cost, quality and schedule; (4) that, as a result, the Company was reasonably likely to report significant losses; and (5) 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. If you purchased or otherwise acquired Lockheed Martin securities during the Class Period, you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff. Contact Us To Participate or Learn More: If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Charles Linehan, Esq., Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles California 90067 Email: shareholders@ Telephone: 310-201-9150, Toll-Free: 888-773-9224 Visit our website at Follow us for updates on LinkedIn, Twitter, or Facebook. If you inquire by email, please include your mailing address, telephone number and number of shares purchased. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Globe and Mail
a day ago
- Business
- Globe and Mail
Lost Money on 3D Systems Corporation (DDD)? Contact Levi & Korsinsky to Join Class Action Before August 12, 2025
New York, New York--(Newsfile Corp. - July 28, 2025) - If you suffered a loss on your 3D Systems Corporation (NYSE: DDD) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: or contact Joseph E. Levi, Esq. via email at jlevi@ or call (212) 363-7500 to speak to our team of experienced shareholder advocates. Cannot view this video? Visit: THE LAWSUIT: A class action securities lawsuit was filed against 3D Systems Corporation that seeks to recover losses of shareholders who were adversely affected by alleged securities fraud between August 13, 2024 and May 12, 2025. CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (i) 3D Systems had understated the impact of weakened customer spending on the Company's business, while overstating its resilience in challenging industry conditions; (ii) in addition, the updated milestone criteria in the partnership with United Therapeutics Corporation would negatively impact the Company's regenerative medicine program revenue; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times. WHAT'S NEXT? If you suffered a loss in 3D Systems Corporation stock during the relevant time frame - even if you still hold your shares - go to to learn about your rights to seek a recovery. There is no cost or obligation to participate. WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The 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. Attorney Advertising. Prior results do not guarantee similar outcomes.
Associated Press
2 days ago
- Business
- Associated Press
Berger Montague PC Investigates Securities Claims Against Fiserv, Inc. Following Class Action Filing
Philadelphia, Pennsylvania--(Newsfile Corp. - July 27, 2025) - Berger Montague PC is investigating potential securities fraud claims on behalf of investors of Fiserv, Inc. (NYSE: FI) ('Fiserv' or the 'Company') following the filing of a securities class action lawsuit. The lawsuit was filed on behalf of investors who purchased or otherwise acquired Fiserv securities between July 24, 2024 and July 22, 2025 (the 'Class Period'). Investor Deadline: Investors who purchased or acquired Fiserv securities during the Class Period may, no later than September 22, 2025, seek to be appointed as a lead plaintiff representative of the class. To learn your rights,CLICK HERE. Fiserv, headquartered in Brookfield, Wisconsin, is a global provider of financial technology and payment solutions serving financial institutions and merchants. The lawsuit alleges that Fiserv and certain executives overstated the Company's growth by failing to disclose, among other things, that its new payment platform, Clover, was experiencing a boost in revenue growth and gross payment volumes because the Company was forcing merchants to transition from its legacy Payeezy platform. Investors learned the Company's true financial picture following a series of disclosures which culminated on July 23, 2025, when Fiserv lowered its 2025 organic growth projections and confirmed that decelerated growth in its Merchant segment. On these announcements, Fiserv's share price declined dramatically. If you are a Fiserv investor and would like to learn more about this action,CLICK HEREor please contact Berger Montague: Andrew Abramowitz at[email protected]or (215) 875-3015, or Caitlin Adorni at[email protected]or (267)764-4865. About Berger Montague Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco, Chicago, Malvern, and Toronto has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States. For more information or to discuss your rights, please contact: Andrew Abramowitz, Senior Counsel Berger Montague (215) 875-3015 [email protected] Caitlin Adorni Berger Montague (267) 764-4865 [email protected] To view the source version of this press release, please visit
Associated Press
3 days ago
- Business
- Associated Press
REPL CLASS ACTION ALERT: FDA Response Letter Leads to Replimune Group, Inc. Class Action – Investors are Notified to Contact BFA Law by September 22 Deadline
NEW YORK, July 26, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Replimune Group, Inc. (NASDAQ: REPL) and certain of the Company's senior executives for potential violations of the federal securities laws. If you invested in Replimune, you are encouraged to obtain additional information by visiting: Investors have until September 22, 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 Replimune securities. The case is pending in the U.S. District Court for the District of Massachusetts and is captioned Jboor v. Replimune Group, Inc., et al., No 1:25-cv-12085. Why Was Replimune Sued for Securities Fraud? Replimune is a clinical-stage biotechnology company focused on developing and commercializing oncolytic immunotherapies for the treatment of cancer. Replimune's lead product candidate is RP1, a treatment for melanoma. On June 6, 2024, the Company announced positive top line results from its IGNYTE Phase 1/2 clinical trial for RP1 in combination with the immunotherapy drug nivolumab. On November 21, 2024, Replimune announced that it had submitted a biologics license application ('BLA') to the FDA for RP1 on the strength of the results of the IGNYTE Phase 1/2 trial. During the relevant period, the Company repeatedly touted the results of the IGNYTE Phase 1/2 trial. In truth, the IGNYTE Phase 1/2 trial design was not adequate to produce reliable results. The Stock Declines as the Truth Is Revealed On July 22, 2025, Replimune announced that it received a Complete Response Letter from the FDA regarding the BLA for RP1. According to the Company, '[t]he FDA has indicated that the IGNYTE trial is not considered to be an adequate and well-controlled clinical investigation that provides substantial evidence of effectiveness.' More specifically, 'the FDA said the trial cannot be adequately interpreted due to the heterogeneity of the patient population.' On this news, the price of Replimune stock fell more than 75% on July 22, 2025. Click here for more information: What Can You Do? If you invested in Replimune 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? BFA is a leading international law firm representing plaintiffs in securities class actions and shareholder litigation. It has been named a top plaintiff law firm by Chambers USA, The Legal 500, and ISS SCAS, and its attorneys have been named 'Elite Trial Lawyers' by the National Law Journal, among the top '500 Leading Plaintiff Financial Lawyers' by Lawdragon, 'Titans of the Plaintiffs' Bar' by Law360 and 'SuperLawyers' by Thomson 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.
