Latest news with #securitieslawsuit
Associated Press
02-06-2025
- Business
- Associated Press
Pomerantz Law Firm Announces the Filing of a Class Action Against NET Power Inc. and Certain Officers
NEW YORK, June 02, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against NET Power Inc. ('Net Power' or the 'Company') (NYSE: NPWR) and certain officers. The class action, filed in the United States District Court for the Middle District of North Carolina, and docketed under 25-cv-00296, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Net Power securities between June 9, 2023 and March 7, 2025, both dates inclusive (the 'Class Period'), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the 'Exchange Act') and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials. If you are an investor who purchased or otherwise acquired Net Power securities during the Class Period, you have until June 17, 2025, to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at To discuss this action, 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. [Click here for information about joining the class action] Net Power is a clean energy technology company. Its business is centered around its so-called 'Net Power Cycle' technology, which is a purported novel power generation system designed to produce reliable and affordable electricity from natural gas while capturing virtually all atmospheric emissions. Net Power has a facility located in La Porte, Texas, which it uses to demonstrate the viability of the NET Power Cycle, referred to as 'La Porte' or the 'Demonstration Plant.' Net Power conducts research and equipment validation testing campaigns at the Demonstration Plant as part of its efforts to develop its first utility-scale plant, which it variably refers to as 'SN1' or 'Project Permian.' Project Permian is located at a site in the Permian Basin of West Texas. Since before the start of the Class Period, Defendants had represented that they anticipated SN1 to be operational in 2026. In 2023, Net Power's cost estimate for Project Permian was roughly $950 million, which increased to $1.1 billion in 2024. Net Power's commencement of commercial operations and, accordingly, its business and financial prospects, rely on its completion of Project Permian. As such, Defendants' projected timelines and cost estimates for Project Permian are of particular importance to investors and analysts. The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) accordingly, Defendants' projections regarding the time and capital needed to complete Project Permian were unrealistic; (iii) 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 (iv) 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. 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 billions of dollars in damages awards on behalf of class members. See Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Danielle Peyton Pomerantz LLP [email protected] 646-581-9980 ext. 7980
Associated Press
18-05-2025
- Business
- Associated Press
INVESTOR ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Sana Biotechnology, Inc. and Certain Officers
NEW YORK, May 18, 2025 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Sana Biotechnology, Inc. ('Sana' or the 'Company') (NASDAQ: SANA) and certain officers. The class action, filed in the United States District Court for the Western District of Washington, and docketed under 25-cv-00512, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Sana securities between March 17, 2023 and November 4, 2024, both dates inclusive (the 'Class Period'), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the 'Exchange Act') and Rule 10b-5 promulgated thereunder, against Sana and certain of its top officials. If you are an investor who purchased or otherwise acquired Sana securities during the Class Period, you have until May 20, 2025 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at To discuss this action, 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. [Click here for information about joining the class action] Sana is a biotechnology company that develops ex vivo and in vivo cell engineering programs to purportedly revolutionize treatment across a broad array of therapeutic areas with unmet treatment needs, including, inter alia, oncology, diabetes, central nervous system ('CNS') disorders, and B-cell-mediated autoimmune diseases. The Company's product candidates include, among others, SC291 for the treatment of, inter alia, B-cell malignancies; SC379 for the treatment of certain CNS disorders; and SG299, which is part of the Company's fusogen platform for in vivo gene delivery for the treatment of hematologic malignancies. Despite the attendant financial burden of developing numerous product candidates for a wide array of therapeutic areas, throughout the Class Period, Defendants repeatedly touted Sana's financial wherewithal to maintain its current operations and advance its existing product candidates. Simultaneously, Defendants consistently represented to investors that they were committed to financing and advancing SC291 (in oncology), SC379, and SG299. For example, throughout the Class Period, Defendants repeatedly touted those product candidates' purportedly promising preclinical and/or clinical results, upcoming data readouts, and regulatory events and timelines, including, inter alia, the preparation, submission, and/or approval of multiple investigational new drug applications ('INDs') with the United States Food and Drug Administration. The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding Sana's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Sana was at significant risk of having insufficient funds to maintain its current operations and advance one or more of its product candidates; (ii) SC291 in oncology, SC379, and SG299 were less promising than Defendants had led investors to believe; (iii) 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; (iv) accordingly, Defendants overstated Sana's financial capacity to maintain its current operations and advance its existing product candidates; and (v) 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. 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 billions of dollars in damages awards on behalf of class members. See Attorney advertising. Prior results do not guarantee similar outcomes.
Associated Press
10-05-2025
- Business
- Associated Press
GERN Deadline in 2 Days: Kessler Topaz Meltzer & Check, LLP Reminds Geron Corporation (GERN) Investors of Filing Deadline in Class Action Lawsuit
RADNOR, PA - May 10, 2025 ( NEWMEDIAWIRE ) - The law firm of Kessler Topaz Meltzer & Check, LLP ( ) informs investors that securities class action lawsuits have been filed against Geron Corporation ('Geron') ( NASDAQ: GERN ) on behalf of those who purchased or otherwise acquired Geron securities between February 28, 2024, and February 25, 2025, inclusive (the 'Class Period'). The lead plaintiff deadline is May 12, 2025. CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP: If you suffered Geron losses, you may CLICK HERE or copy and paste the following link into your browser: You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at [email protected]. DEFENDANTS' ALLEGED MISCONDUCT: The complaints allege that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendants created the false impression that they possessed reliable information pertaining to Geron's projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations; (2) in truth, Geron's optimistic reports of its primary product, RYTELO's, launch success and potential growth fell short of reality as the impacts of seasonality, existing competition, and the burden of continued monitoring played a much more significant role in patient starts than Defendants had implied; (3) RYTELO lacked the necessary awareness to penetrate the market, resulting in an inability for Geron to capitalize on the purportedly significant unmet need for the drug, particularly among first-line patients and those outside the academic setting; and (4) as a result, Defendants' statements about the company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. THE LEAD PLAINTIFF PROCESS: Geron investors may, no later than May 12, 2025, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check, LLP encourages Geron investors who have suffered significant losses to contact the firm directly to acquire more information. CLICK HERE TO SIGN UP FOR THE CASE OR GO TO: ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP: Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit CONTACT: Kessler Topaz Meltzer & Check, LLP Jonathan Naji, Esq. (484) 270-1453 280 King of Prussia Road Radnor, PA 19087 [email protected] May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.
Associated Press
08-05-2025
- Business
- Associated Press
GERN Deadline in 4 Days: Kessler Topaz Meltzer & Check, LLP Reminds Geron Corporation (GERN) Investors of Filing Deadline in Class Action Lawsuit
RADNOR, PA - May 8, 2025 ( NEWMEDIAWIRE ) - The law firm of Kessler Topaz Meltzer & Check, LLP ( ) informs investors that securities class action lawsuits have been filed against Geron Corporation ('Geron') ( NASDAQ: GERN ) on behalf of those who purchased or otherwise acquired Geron securities between February 28, 2024, and February 25, 2025, inclusive (the 'Class Period'). The lead plaintiff deadline is May 12, 2025. CONTACT KESSLER TOPAZ MELTZER & CHECK, LLP: If you suffered Geron losses, you may CLICK HERE or copy and paste the following link into your browser: You can also contact attorney Jonathan Naji, Esq. by calling (484) 270-1453 or by email at [email protected]. DEFENDANTS' ALLEGED MISCONDUCT: The complaints allege that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendants created the false impression that they possessed reliable information pertaining to Geron's projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations; (2) in truth, Geron's optimistic reports of its primary product, RYTELO's, launch success and potential growth fell short of reality as the impacts of seasonality, existing competition, and the burden of continued monitoring played a much more significant role in patient starts than Defendants had implied; (3) RYTELO lacked the necessary awareness to penetrate the market, resulting in an inability for Geron to capitalize on the purportedly significant unmet need for the drug, particularly among first-line patients and those outside the academic setting; and (4) as a result, Defendants' statements about the company's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. THE LEAD PLAINTIFF PROCESS: Geron investors may, no later than May 12, 2025, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Kessler Topaz Meltzer & Check, LLP encourages Geron investors who have suffered significant losses to contact the firm directly to acquire more information. CLICK HERE TO SIGN UP FOR THE CASE OR GO TO: ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP: Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit CONTACT: Kessler Topaz Meltzer & Check, LLP Jonathan Naji, Esq. (484) 270-1453 280 King of Prussia Road Radnor, PA 19087 [email protected] May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.
