Pomerantz Law Firm Investigates Claims on Behalf of Investors of ASML Holding N.V. - ASML

Pomerantz LLP is investigating claims on behalf of investors of ASML Holding N.V. (“ASML” or the “Company”) (NASDAQ: ASML).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.   

The investigation concerns whether ASML 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 17, 2024, ASML issued a press release reporting its financial results for the first quarter of 2024.  Among other items, ASML disclosed net bookings of €3.6 billion for the quarter, significantly below consensus estimates of €4.63 billion, as well as a decline in net bookings for the Company’s extreme ultraviolet lithography machines compared to the first quarter of 2023. 

On this news, ASML’s American Depositary Receipt (“ADR”) price fell $69.31 per ADR, or 7.09%, to close at $907.61 per ADR on April 17, 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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Reviva Pharmaceuticals Holdings, Inc. - RVPH

Pomerantz LLP is investigating claims on behalf of investors of Reviva Pharmaceuticals Holdings, Inc. (“Reviva” or the “Company”) (NASDAQ: RVPH). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980

The investigation concerns whether Reviva 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 15, 2024, Revival disclosed in a filing with the U.S. Securities and Exchange Commission that “[o]n April 12, 2024, the Audit Committee . . . of the Board of Directors . . . concluded that the Company’s previously issued financial statements for the fiscal year ended December 31, 2022 included in its Annual Report on Form 10-K, the interim financial statements for the quarterly period ended September 30, 2022 included in its Quarterly Report on Form 10-Q, and each of the interim financial statements for the quarterly periods in fiscal 2023 included in its Quarterly Reports on Form 10-Q (cumulatively, the ‘Restatement Periods’) should be restated to correct historical errors related principally to the timing of recognition of the Company’s estimated accrual of certain research and development expenses, and should therefore no longer be relied upon.”  Specifically, the Company advised that “Reported Research and Development Expenses of $18.9 million, reported Total Operating Expenses of $24.3 million, reported Loss from Operations of $24.3 million, and reported Net Loss of $24.3 million, were each understated by approximately $3.9 million, representing the under accrual of clinical expenses.”  Reviva stated that it “principally attributes the errors to material weaknesses in its internal control over financial reporting and clinical trial expenses”.  

On this news, Reviva’s stock price fell $0.21 per share, or 5.69%, to close at $3.48 per share on April 15, 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 www.pomlaw.com.

Attorney advertising.  Prior results do not guarantee similar outcomes. 

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Jabil Inc. - JBL

Pomerantz LLP is investigating claims on behalf of investors of Jabil Inc. (“Jabil” or the “Company”) (NYSE: JBL).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.   

The investigation concerns whether Jabil 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 18, 2024, Jabil disclosed in filing with the U.S. Securities and Exchange Commission that “[o]n April 15, 2024, Mr. Kenneth S. Wilson, Chief Executive Officer and Director of [Jabil] was placed on a paid leave pending completion of an investigation related to corporate policies.”  Additionally, the Company represented that “[t]he conduct that prompted this review does not relate to, and does not impact, the Company's financial statements or financial reporting.” 

On this news, Jabil’s stock price fell $10.84 per share, or 8.36%, to close at $118.75 per share on April 19, 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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Akero Therapeutics, Inc. - AKRO

Pomerantz LLP announces that a class action lawsuit has been filed against Akero Therapeutics, Inc. (“Akero” or the “Company”) (NASDAQ: AKRO).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 Akero and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until June 25, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Akero securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]    

On October 10, 2023, Akero announced the results of the Phase 2b SYMMETRY trial for the Company’s lead product candidate efruxifermin, a proposed treatment for patients with nonalcoholic steatohepatitis, disclosing that the trial had failed to meet its primary endpoint.  On a subsequent call with investors to discuss the SYMMETRY trial’s results, Akero’s top officers acknowledged that patients with cryptogenic cirrhosis had been included in the study’s patient population, a fact that Akero had previously failed to disclose to investors.  Analysts reacted negatively to this disclosure, with one analyst opining that “this feature of the study needlessly introduces confounding risk, and may have played a part in missing the primary endpoint[.]” 

On this news, Akero’s stock price fell $30.39 per share, or 62.61%, to close at $18.15 per share on October 10, 2023.

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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Lincoln National Corporation - LNC

Pomerantz LLP announces that a class action lawsuit has been filed against Lincoln National Corporation  (“Lincoln National” or the “Company”) (NYSE: LNC).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 Lincoln National and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until June 24, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Lincoln National securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]    

On November 2, 2022, after the market closed, Lincoln National released its third quarter 2022 financial results, reporting a net loss of $2.6 billion for the quarter.  This was compared to a net income of $318 million for the third quarter of 2021 the previous year.  Lincoln National stated that “[t]he current quarter’s adjusted operating results included net unfavorable notable items of $2.0 billion, or $11.62 per share, related to the company’s annual review of DAC and reserve assumptions.”  The Company also disclosed that it “incurred a $634 million goodwill impairment to the life insurance business.” 

On this news, Lincoln National’s stock price fell $17.27 per share, or 33.2%, to close at $34.83 per share on November 3, 2022.

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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against GoodRx Holdings, Inc. - GDRX

Pomerantz LLP announces that a class action lawsuit has been filed against GoodRx Holdings, Inc. (“GoodRx” or the “Company”) (NASDAQ: GDRX).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 GoodRx and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until June 21, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired GoodRx securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]

On May 9, 2022, GoodRx revealed that, late in the first quarter of 2022, “a grocery chain had taken actions that impacted acceptance of discounts from most PBMs [pharmacy benefit managers] for a subset of drugs” and that this “impacted the acceptance of many PBM discounts for certain drugs at this grocer’s stores.”  GoodRx further acknowledged that this disruption “could have an estimated revenue impact of roughly $30 million” in the second quarter of 2022—resulting in the Company announcing disappointing second quarter 2022 revenue guidance of only about $190 million.  In the accompanying investor earnings call held that same day, GoodRx’s Co-Chief Executive Officer Trevor Bezdek admitted that the use of GoodRx discounts at the “grocery chain” were responsible for nearly 25% of GoodRx’s prescription transactions revenue.  While the Company refused to identify the grocer by name, analysts and media outlets quickly recognized that the unnamed grocery chain was Kroger. 

On this news, GoodRx’s stock price fell $2.78 per share, or more than 25%, to close at $7.97 per share on May 10, 2022. 

Then, on November 8, 2022, GoodRx provided further information on the severity of the revenue impact from the Kroger disruption, estimating that the “impact of the grocer issue on third quarter [prescription transactions revenue] was approximately $40 million” and that the Company expected “a combined $45 million to $50 million estimated impact to prescription transactions revenue” for the fourth quarter of 2022.  GoodRx further acknowledged that the Company was seeking to enter into contractual relationships with pharmacies to prevent similar disruptions from occurring in the future. 

On this news, GoodRx’s stock price fell another $1.18 per share, or more than 22%, to close at $4.06 per share on November 9, 2022.

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 www.pomlaw.com.

Attorney advertising.  Prior results do not guarantee similar outcomes.

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Sharecare, Inc. – SHCR

Pomerantz LLP announces that a class action lawsuit has been filed against Sharecare, Inc. (“Sharecare” or the “Company”) (NASDAQ: SHCR).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 Sharecare and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until June 18, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Sharecare securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]   

On March 29, 2024 Sharecare filed its Annual Report on Form 10-K for 2023 (the “2023 Annual Report”) with the U.S. Securities and Exchange Commission.  Among other items, the 2023 Annual Report disclosed that “[b]ased upon their evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures . . . were not effective as of December 31, 2023 due to [a] material weakness in our internal control over financial reporting”.  Sharecare stated that the material weakness related “to its revenue recognition evaluation resulting from a change in services provided to a customer, due to untimely communication between cross-functional teams.” 

On this news, Sharecare’s stock price fell $0.22 per share, or 28.28%, to close at $0.55 per share on April 1, 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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against AST SpaceMobile, Inc. – ASTS

Pomerantz LLP announces that a class action lawsuit has been filed against AST SpaceMobile, Inc. (“AST” or the “Company”) (NASDAQ: ASTS).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 AST and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until June 17, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired The Children’s Place securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]   

On April 1, 2024, after the market closed, SpaceMobile issued a press release disclosing that production of five Block 1 BlueBird satellites had been “impacted by two suppliers, leading to delays in integration and testing.” As a result, these five satellites were expected to be transported to the launch site between July or August 2024, later than the previously expected launch in the first quarter of 2024. 

On this news, SpaceMobile’s stock price fell $0.62 per share, or 23.6%, to close at $2.01 per share on April 2, 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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Doximity, Inc. – DOCS

Pomerantz LLP announces that a class action lawsuit has been filed against Doximity, Inc. (“Doximity” or the “Company”) (NYSE: DOCS).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 Doximity and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until June 17, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Doximity securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]   

On August 8, 2023, Doximity reported its financial results for the first quarter of fiscal year 2024, which ended June 30, 2023.  While the Company exceeded its quarterly revenue and adjusted EBITDA guidance for the first quarter, it provided disappointing guidance for the second quarter of fiscal year 2024 and slashed its guidance for the full fiscal year 2024.  Specifically, Doximity announced that it expected fiscal year 2024 revenue of between $452 million and $468 million (down from prior guidance of between $500 million and $506 million, and representing year-over-year revenue growth of only between 7.9% and 11.7%), and adjusted EBITDA of between $193 million and $209 million (down from prior guidance of between $216 million and $222 million, and representing year-over-year adjusted EBITDA growth of only between 4.9% and 13.6%).  In conjunction with the disappointing guidance, Doximity announced that it would reduce its workforce by approximately 10%, noting that the workforce reduction is expected to cost approximately $8 million to $10 million. 

On this news, Doximity’s stock price fell $7.49 per share, or 22.84%, to close at $25.30 per share on August 9, 2023.  

Then, on April 1, 2024, Jehoshaphat Research published a report alleging, among other things, that “Doximity’s underlying sales . . . are declining at a negative -3-6% rate, but that this decline has been masked through accelerated revenue recognition.”

On this news, Doximity’s stock price fell $1.11 per share, or 4.12%, over the following two trading sessions, to close at $25.80 per share on April 2, 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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Perion Network Ltd. – PERI

Pomerantz LLP announces that a class action lawsuit has been filed against Perion Network Ltd. (“Perion” or the “Company”) (NASDAQ: PERI).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 Perion and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until June 17, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Perion securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]   

On April 8, 2024, Perion issued a press release announcing preliminary financial results for the first quarter of 2024 and updated full year 2024 guidance, revealing that “[i]n the first quarter of 2024, Perion experienced a decline in search advertising activity, attributable to changes in advertising pricing and mechanisms implemented by Microsoft Bing in its Search Distribution marketplace.”  Perion further revealed that “[t]hese adjustments led to a reduction in Revenue Per Thousand Impressions (RPM) for both Perion and other Microsoft Bing distribution partners” and “contributed to decreased search volume.”  The Company also revealed that for the full 2024 year, it now expects revenue in the range of $590 million to $610 million, down from the prior guidance range of $860 to $880 million the Company gave on February 7, 2024.

On this news, Perion’s stock price fell $8.61 per share, or approximately 40%, to close at $12.50 per share on April 8, 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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against QuidelOrtho Corporation – QDEL

Pomerantz LLP announces that a class action lawsuit has been filed against QuidelOrtho Corporation (“QuidelOrtho” or the “Company”) (NASDAQ: QDEL).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 QuidelOrtho and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until June 11, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired QuidelOrtho securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]   

On February 13, 2024, QuidelOrtho reported underwhelming results for its fourth quarter ended December 31, 2023.  Among other things, the Company’s Adjusted Earnings Per Share was 46% below the midpoint of Wall Street analysts’ expectations.  This miss was largely attributed to lower endemic COVID-19 revenues during the quarter due to distributor destocking.  The Company also slashed its 2024 financial forecasts, including a drastic cut to its COVID-19 revenue guidance.  Specifically, QuidelOrtho lowered its annual endemic COVID-19 revenue forecast from the range of $200-$400 million to $200 million.  On this news, QuidelOrtho’s stock price fell $21.50 per share, or 32.2%, to close at $45.27 per share on February 14, 2024. 

On February 21, 2024, QuidelOrtho announced that its Board of Directors had terminated Douglas Bryant from his positions as President and Chief Executive Officer (“CEO”) of the Company.  Bryant also resigned from the Company’s Board, effective February 21, 2024.  Then, on April 2, 2024, QuidelOrtho announced that it had withdrawn its FDA 510(k) submission for approval to sell the Savanna RVP4 Test in the United States after recent data did not meet expectations.  According to a Citi analyst, the Savanna RVP4 Test was “expected to be a key driver of Savanna uptake in the respiratory season.” 

On this news, QuidelOrtho’s stock price fell $4.85, per share, or 10.32%, to close at $42.15 per share on April 2, 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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Sonder Holdings Inc. – SOND

Pomerantz LLP announces that a class action lawsuit has been filed against Sonder Holdings Inc. (“Sonder” or the “Company”) (NASDAQ: SOND).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 Sonder and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until June 10, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired The Children’s Place securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]   

On March 15, 2024, after market hours, Sonder issued a press release announcing that the Company’s audited financial statement for its 2022 Annual Report, as well as the Company’s unaudited consolidated financial statements in 2023 (collectively with the 2022 Annual Report, the “Affected Financial Statements”), should no longer be relied upon due to “accounting errors related to the valuation and impairment of operating lease ROU [right of use] assets and related items.”  Sonder stated that it “intends to restate the Affected Financial Statements” and that it “expects that the restatements will increase the Company’s overall net loss and loss per share in the impacted periods.” 

On this news, Sonder’s stock price fell $2.10 per share, or 38.2%, to close at $3.40 per share on March 18, 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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Ocugen, Inc. - OCGN

Pomerantz LLP announces that a class action lawsuit has been filed against Ocugen, Inc. (“Ocugen” or the “Company”) (NASDAQ: OCGN).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 Ocugen and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until June 10, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Ocugen securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]

On April 1, 2024, after the market closed, Ocugen filed a Current Report on Form 8-K with the United States (“U.S.”) Securities and Exchange Commission revealing that, in connection with the preparation of the Company’s financial statements for the year ended December 31, 2023, Ocugen identified certain accounting errors related to the application of U.S. GAAP to certain agreements with one of its business partners related to a collaboration agreement and that the Company’s previously-issued audited consolidated financial statements for each fiscal year beginning January 1, 2020 and its previously-issued unaudited interim condensed consolidated financial statements for each of the first three quarters in such years (the “Restated Periods”), as well as the associated earnings releases and investor presentations or other communications describing such financial statements, were materially misstated and, accordingly, should no longer be relied upon and will be restated.  In additional, Ocugen indicated that it had determined that the errors resulted from the existence of a material weakness in its internal control over financial reporting that also existed during the Restated Periods and that its internal control over financial reporting was not effective as of December 31, 2023.  As a result, the Company’s Chief Executive Officer and Chief Accounting Officer concluded that the Ocugen’s disclosure controls and procedures were not effective as of December 31, 2023. 

On this news, Ocugen’s stock price fell $0.16 per share, or 10.38%, to close at $1.38 per share on April 2, 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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Luna Innovations Incorporated - LUNA

Pomerantz LLP announces that a class action lawsuit has been filed against Luna Innovations Incorporated (“Luna” or the “Company”) (NASDAQ: LUNA).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 Luna and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until May 31, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Luna securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.

[Click here for information about joining the class action]

On March 12, 2024, Luna disclosed that a Special Committee of the Company’s Board of Directors was reviewing “certain transactions for which revenue was recognized in the second and third quarters of 2023 that did not qualify for revenue recognition under U.S. generally accepted accounting principles,” and that the Company’s previously issued financial statements for those quarters should no longer be relied upon.  Additionally, Luna stated that it has identified material weaknesses in its internal control over financial reporting, and that the Company would thus be delaying the release of its fourth quarter and full year 2024 financial results. 

On this news, Luna’s stock price fell $2.24 per share, or 35.78%, to close at $4.02 per share on March 13, 2024.

Then, on March 25, 2024, Luna announced that its Chief Executive Officer (“CEO”), Scott Graeff, had retired from his role as President and CEO, as well as stepped down from the Company’s Board of Directors. 

On this news, Luna’s stock price fell $0.41 per share, or 11.54%, to close at $3.14 per share on March 26, 2024. 

Then, on April 19, 2024, Luna announced that its financial statements for the fiscal year ended December 31, 2022, and the interim periods ended March 31, 2022, June 30, 2022, and September 30, 2022 and March 31, 2023 should not be relied upon and needed to be restated, citing identified accounting errors relating to revenue recognition. 

On this news, Luna’s stock price fell $0.03 per share, or 1.07%, to close at $2.77 per share on April 19, 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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against bluebird bio, Inc. - BLUE

Pomerantz LLP announces that a class action lawsuit has been filed against bluebird bio, Inc. (“bluebird” or the “Company”) (NASDAQ: BLUE).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 bluebird and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until May 28, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired bluebird securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]

On December 8, 2023, bluebird announced that the United States Food and Drug Administration approved its drug Lyfgenia (lovotibeglogene autotemcel), also known as lovo-cel, for the treatment of sickle cell disease in patients ages 12 and older who have a history of vaso-occlusive events.  However, the Lyfgenia approval came with a black box warning for haematological malignancies after two patients developed acute myeloid leukemia during the clinical trials.  Analysts noted that they did not expect the black box warning or the absence of a priority review voucher. 

On this news, bluebird’s stock price fell $1.95 per share, or 40.54%, to close at $2.86 per share on December 8, 2023.

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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Evolv Technologies Holdings, Inc. f/k/a NewHold Investment Corp. – EVLV;EVLVW

Pomerantz LLP announces that a class action lawsuit has been filed against Evolv Technologies Holdings, Inc. f/k/a NewHold Investment Corp. (“Evolv” or the “Company”) (NASDAQ: EVLV).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 Evolv and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until May 24, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Evolv securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]

On November 2, 2022, before market hours, IPVM, which describes itself as the “world’s leading authority on physical security technology”, released a report entitled “BBC Exposes Evolv with IPVM Research,” which stated that “[a] BBC special report based on 1,000+ pages of documents obtained by IPVM has exposed security screening manufacturer Evolv for deceptive marketing and colluding with NCS4, a public entity, to hide test results showing failures at weapons screening.”  That same day, BBC released an article entitled “Manchester Arena’s weapon scanning tech questioned,” which revealed documents shared with the BBC by IPVM suggest the Company may fail to detect certain types of knives, as well as some bombs and components. 

On this news, the price of Evolv stock fell by $0.08, or 2.73% to close at $2.85 on November 2, 2022.  The next day, Evolv’s stock price fell a further $0.16, or 5.6%, to close at $2.69. 

Then, on May 23, 2023, BBC News published an article entitled “AI scanner used in hundreds of US schools misses knives,” which stated that “[a] security firm that sells AI weapons scanners to schools is facing fresh questions about its technology after a student was attacked with a knife that the $3.7 [million] system failed to detect.” 

On this news, the price of Evolv stock fell by $0.45, or 7.56%, to close at $5.50 on May 23, 2023.  

Then, On October 12, 2023, before the market opened, Evolv filed with the United States (“U.S.”) Securities and Exchange Commission (“SEC”) a Current Report on Form 8-K which stated that on October 12, 2023, the Company announced that the U.S. Federal Trade Commission had requested information about certain aspects of its marketing practices. 

On this news, the price of Evolv stock fell $0.58 per share, or 13.33%, to close at $3.77 on October 12, 2023. 

Then, on October 25, 2023, during market hours, IPVM released an article entitled “Why We Believe Evolv Express Is Not Actually Intelligent,” which stated, in part, that “[w]hile Evolv prominently markets ‘AI’ (Artificial Intelligence), we do not believe Evolv Express is actually intelligent because it struggles to differentiate small knives from cell phones and guns from laptops, capabilities that we believe are basic to being an ‘intelligent’ weapons detector.” 

On this news, the price of Evolv stock fell $0.06, or 1.48%, to close at $3.99 on October 25, 2023. 

Then, on February 20, 2024, before the market opened, Evolv filed with the SEC a current report on Form 8-K, attached to which was a press release entitled “Evolv Technology Provides Regulatory Update,” which stated, in pertinent part, that “on Friday, February 16, 2024 the SEC notified the Company it was initiating an investigation that was described as a confidential ‘non-public, fact finding inquiry.’” 

On this news, the price of Evolv stock fell by $0.82 per share, or 15.67%, to close at $4.41 on February 20, 2024.  

Finally, on March 13, 2024, the BBC released an article entitled “AI weapons scanner backtracks on UK testing claims,” which revealed that Evolv told BBC News it had altered its claims about UK testing to “better reflect the process taken.” 

On this news, the price of Evolv stock fell by $0.13 per share, or 3.51%, to close at $3.57 on March 13, 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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Shoals Technologies Group, Inc. - SHLS

Pomerantz LLP announces that a class action lawsuit has been filed against Shoals Technologies Group, Inc. (“Shoals” or the “Company”) (NASDAQ: SHLS).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 Shoals and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until May 21, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Shoals securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]    

On November 7, 2023, Shoals filed its Quarterly Report on Form 10-Q for the third quarter of 2023 with the United States Securities and Exchange Commission and held an accompanying earnings call in which it was revealed that an issue involving excessive pull back of wire insulation, or “shrinkback,” was far more severe than previously disclosed.  Specifically, the Company reported that the shrinkback issue affected 30% of Shoals’ harnesses installed between 2020 and 2022, booked a $50.2 million warranty expense for the quarter related to the shrinkback issue, and provided a range of potential loss related to the shrinkback issue of $59.7 million to $184.9 million. 

On this news, Shoals’ stock price fell $3.28 per share over the next two trading days, or 20.2%, to close at $12.95 per share on November 9, 2023.

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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against The Chemours Company - CC

Pomerantz LLP announces that a class action lawsuit has been filed against The Chemours Company (“Chemours” or the “Company”) (NYSE: CC). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 Chemours and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until May 20, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Chemours securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]

On February 13, 2024, Chemours issued a press release “announc[ing] that it has postponed the release of its financial results and conference call related to the fourth quarter and full year ended December 31, 2023, which had previously been scheduled for February 14, 2024 and February 15, 2024, respectively” and “currently expects to issue its fourth quarter and full year 2023 financial results after market close on Wednesday, February 28, 2024.” 

Chemours stated that it “is delaying the release of financial results and the conference call because it needs additional time to complete its year-end reporting process.  The Company is evaluating its internal control over financial reporting as of December 31, 2023 with respect to maintaining effective controls related to information and communications.  The Company’s Audit Committee also needs additional time to complete a related internal review.” 

On this news, Chemours’s stock price fell $3.85 per share, or 12.63%, to close at $26.64 per share on February 14, 2024.  Then, on February 28, 2024, Chemours issued a press release announcing that its Board of Directors had “place[d] President and Chief Executive Officer Mark Newman, Senior Vice President and Chief Financial Officer Jonathan Lock and Vice President, Controller and Principal Accounting Officer Camela Wisel on administrative leave”, “pending the completion of an internal review being overseen by the Audit Committee of the Board of Directors with the assistance of independent outside counsel”.  On this news, Chemours’s stock price fell sharply during intraday trading on February 29, 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 www.pomlaw.com.

Attorney advertising.  Prior results do not guarantee similar outcomes. 

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against agilon health, inc. - AGL

Pomerantz LLP announces that a class action lawsuit has been filed against agilon health, inc. (“Agilon” or the “Company”) (NYSE: AGL).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 Agilon and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until May 20, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Agilon securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]    

On April 15, 2021, Agilon conducted its initial public offering, selling over 53 million shares of its stock at $23.00 per share. 

On November 2, 2023, Agilon issued a press release announcing its third quarter financial results for the 2023. 

Therein, Agilon revealed a significant deterioration in its medical margins coming in at just $108 million for the quarter, far below analyst consensus estimates, due in part to $9 million in previously unreported prior year claims.  In addition, Agilon disclosed that it had suffered a $6 million loss in quarterly adjusted EBITDA, which also missed analyst estimates, and sharply lowered its 2023 expected medical margins.  On a related earnings call, Agilon executives revealed that the Company had suffered higher utilization rates earlier in the year, had already significantly drawn down the reserves it had set aside to cover increased costs, and was adding an additional $30 million to its reserves because of the potential for higher utilization trends to continue. 

On this news, Agilon’s stock price fell $2.23 per share, or 13%, to close at $14.66 per share on November 3, 2023. 

On January 5, 2024, Agilon issued a press release revealing that it had suffered dramatically higher prior medical expenses than previously revealed and, as a result, was again significantly lowering its 2023 expected medical margin.  Agilon also disclosed that its adjusted EBITDA had fallen significantly, withdrew its 2026 guidance, and provided a dismal 2024 outlook.  Separately, Agilon announced that its Chief Financial Officer would be stepping down from that role.  During a related earnings call that day, Company management admitted, among other things, that Agilon had failed to include “elevated cost trends” in its prior forecast provided to investors. 

On this news, Agilon’s stock price fell $3.45 per share, or nearly 29%, to close at $8.63 per share on January 5, 2024. 

Then, on February 27, 2024, Agilon issued a press release revealing that its medical costs and utilization rates were even higher than previously represented and that its 2023 medical margin had come in at just $299 million for the year, far lower than the already reduced range of $340 million to $360 million.  Agilon also revealed, among other things, that it had slashed its 2024 medical margin guidance by 27% and its 2024 adjusted EBITDA guidance from a $40 to $60 million gain to a $15 to $60 million loss. 

On this news, Agilon’s stock price fell $0.44 per share, or 7%, to close at $6.04 per share on March 1, 2024.  In subsequent days, the price of Agilon stock continued to decline, falling to a low of just $5.66 per share.

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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.    

SHAREHOLDER ALERT: Pomerantz Law Firm Announces the Filing of a Class Action Against Autodesk, Inc. - ADSK

Pomerantz LLP announces that a class action lawsuit has been filed against Autodesk, Inc. (“Autodesk” or the “Company”) (NASDAQ: ADSK).   Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com 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 Autodesk and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

You have until June 24, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Autodesk securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.         

[Click here for information about joining the class action]    

On April 1, 2024, Autodesk filed a Notification of Late Filing with the U.S. Securities and Exchange Commission, stating that the Company “is unable to file its Annual Report on Form 10-K for the year ended January 31, 2024 . . . within the prescribed time period, without unreasonable effort or expense.”  Specifically, Autodesk revealed that “[a]fter the Company’s earnings release on February 29, 2024, information was brought to the attention of management, which promptly informed the Audit Committee (the ‘Committee’) of the Board of Directors of the Company, that caused the Committee to commence an internal investigation with the assistance of outside counsel and advisors, regarding the Company’s free cash flow and non-GAAP operating margin practices.” 

On this news, Autodesk’s stock price fell $10.73 per share, or 4.14%, to close at $248.71 per share on April 2, 2024. 

Then, on April 16, 2024, Autodesk issued a press release providing an update on the internal investigation, stating that it “will not file its Annual Report . . . within the 15-day extension period . . . due to the ongoing investigation” and accordingly “expects to receive a notice from The Nasdaq Stock Market . . . that it is not in compliance with the timely filing requirement for continued listing under Nasdaq Listing Rule 5250(c)(1).” 

On this news, Autodesk’s stock price fell $13.32 per share, or 5.84%, to close at $214.92 per share on April 17, 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 www.pomlaw.com.   

Attorney advertising.  Prior results do not guarantee similar outcomes.