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AppLovin® Shareholder Class Action
The AppLovin® class action lawsuit alleges that the company misled investors about its AXON 2.0 digital ad platform, promoting it as a revolutionary tool for mobile game advertising and e-commerce. However, the lawsuit claims AppLovin used deceptive practices, including reverse-engineering data from Meta Platforms and unknowingly forcing users to install apps to inflate installation numbers and boost profits.
Arconic Corporation® Class Action
The Arconic class action lawsuit claims that the company misled investors by failing to disclose material non-public information regarding acquisition offers while simultaneously repurchasing shares at artificially deflated prices. These misleading actions created an inaccurate valuation of Arconic's stock and misled investors regarding the company's financial standing and acquisition potential.
Atkore Inc.® Shareholder Class Action
The Atkore class action lawsuit alleges the company participated in an anticompetitive price-fixing scheme, artificially inflating the prices of PVC pipes. The lawsuit claims Atkore exchanged confidential pricing data with other U.S.-based manufacturers during the COVID-19 pandemic when foreign competitors could not participate. This scheme was kept hidden, and Atkore failed to disclose its significant impact on the company's operations and pricing strategy. The truth was revealed on February 4, 2025, when Atkore announced disappointing Q1 FY2025 financial results, missing analysts' expectations. The company cited the normalization of PVC pricing as a major factor, leading to a substantial drop in earnings guidance.
Cardlytics Inc® Class Action
The Cardlytics, Inc. class action lawsuit alleges that the company misled investors about its business operations and financial prospects. Defendants failed to disclose key issues such as increasing consumer incentives and the inability to increase billings in line with rising consumer engagement. This led to a slowdown in revenue growth and an under-delivery of budgets and billing estimates. Investors faced significant financial losses when the company revealed disappointing earnings, including a 9% revenue drop and a 57% stock price drop.
Constellation Brands® Shareholder Class Action
The Constellation Brands class action lawsuit alleges the company misled investors about the success of its efforts to improve product mix, inventory management, and sales execution in its Wine and Spirits division. Specifically, the lawsuit claims that Constellation exaggerated the effectiveness of investments in media spending, price promotions, and sales adjustments, which ultimately failed to deliver the company's projected growth. The truth was revealed on January 8, 2025, when Constellation released disappointing Q3 FY2025 financial results, showing a significant sales miss in its Beer segment and an even larger shortfall in its Wine & Spirits division.
Crocs, Inc® Class Action
The Crocs, Inc. class action lawsuit alleges that the company misled investors about the performance of its recently acquired HEYDUDE brand. Defendants failed to disclose that strong revenue growth was primarily driven by an overstocking strategy, which resulted in inflated sales numbers that did not reflect actual retail demand. Despite assurances from the CEO that Crocs would not overstock wholesalers, the company aggressively filled the supply chain. As a result, when retail partners began destocking, the company's financial results were negatively impacted, leading to significant shareholder losses.
ESSA Pharma Inc® Class Action
The ESSA Pharma Inc. class action lawsuit alleges that the company misled investors regarding the efficacy of its lead product candidate, masofaniten (EPI-7386), in treating prostate cancer. Defendants falsely claimed that masofaniten, in combination with enzalutamide, had significant efficacy benefits, leading investors to believe in its potential for success. However, the combination therapy showed no clear efficacy benefit over enzalutamide alone, and a later study revealed a low likelihood of meeting its primary endpoint. Following the disclosure of these results, ESSA’s stock price plummeted by 73.08%, causing substantial losses for shareholders.
Integral Ad Science Holding Corp® Class Action
The Applied Therapeutics, Inc.® class action lawsuit alleges that the company misled investors about the progress and results of its Phase III INSPIRE trial for the drug govorestat, intended to treat rare metabolic diseases. Defendants made optimistic statements regarding the drug's effectiveness despite failing to disclose issues with electronic data capture and a dosing error in the trial. After the company received a Complete Response Letter from the FDA in November 2024 and a warning letter in December, the stock price plummeted by over 80%, causing significant losses for shareholders.
Manhattan Associates Inc.® Class Action
The Manhattan Associates class action lawsuit alleges the company misled investors about its revenue forecasts and growth prospects, particularly in its professional services segment. The lawsuit claims that Manhattan Associates provided overly optimistic projections despite internal challenges and failed to disclose its inability to meet revenue targets amid macroeconomic fluctuations. The truth was revealed on January 28, 2025, when Manhattan Associates announced reduced revenue guidance for fiscal year 2025 due to delays in professional services work and reduced customization.
Rocket Lab USA, Inc.® Class Action
The Rocket Lab class action lawsuit alleges the company misled investors by failing to disclose critical information about its Neutron Launch Vehicle project. Specifically, Rocket Lab allegedly failed to disclose significant delays in its plans for barge landing tests, concealed a critical potable water issue at its launch pad site, and misrepresented the Neutron rocket’s launch timeline. Additionally, the lawsuit claims Rocket Lab misled investors about its only Neutron contract, which was discounted and secured with an unreliable partner, E-Space. The truth was revealed on February 25, 2025, when Bleecker Street Research published a report detailing the delays and contract concerns, warning that the Neutron launch schedule was unlikely to be met.
Semtech Corporation ® Class Action
The Semtech class action lawsuit alleges the company misled investors about its CopperEdge product line. Specifically, Semtech failed to disclose that CopperEdge products did not meet customer needs and required modifications to server rack architecture. The company also misrepresented CopperEdge sales growth, falsely suggesting a ramp-up during fiscal 2026, and concealed that sales would fall below the $50 million floor estimate. On February 7, 2025, Semtech disclosed that CopperEdge sales would not meet expectations for fiscal 2026, citing issues with rack architecture and customer feedback. This caused Semtech’s stock price to drop $16.91 per share (31%), closing at $37.60 on February 10, 2025.
Skyworks Solutions Inc® Class Action
The Skyworks class action lawsuit alleges that the company misled investors by making false claims regarding its relationship with Apple and its market positioning. Skyworks allegedly misrepresented the stability of its relationship with Apple, overstated its readiness to capitalize on AI advancements, and concealed growing competitive pressures. These misleading actions led investors to overestimate Skyworks' financial outlook. On February 5, 2025, Skyworks reported lower-than-expected Q1 FY2025 results and issued weak guidance for Q2 FY2025, causing its stock price to plummet over 24% in one day, reflecting concerns over its growth prospects.
The Trade Desk, Inc.® Class Action
The Trade Desk class action lawsuit alleges the company misled investors by failing to disclose issues with its AI forecasting tool, Kokai. Specifically, the lawsuit claims that The Trade Desk concealed delays in the Kokai rollout, misrepresented its performance, and failed to acknowledge the negative impact on business operations and revenue growth. These misleading actions caused investors to overestimate the company's growth potential. On February 12, 2025, The Trade Desk reported disappointing Q4 2024 results, missing its revenue guidance. Following this, the stock price plummeted more than 32%, falling from $122.23 to $81.92 per share.
Venture Global, Inc.® Class Action
The Venture Global class action lawsuit claims that the company misled investors during its IPO by falsely stating its plans to construct and develop natural gas liquefaction and export projects. The company misrepresented the development of LNG facilities and pipeline systems, leading to false expectations about its growth potential and operational reliability. On February 5, 2025, TotalEnergies, a potential long-term customer, refused to engage with Venture Global due to trust concerns, causing the stock price to drop from $19.68 to $17.48 per share in a single day.
Walgreens Boots Alliance, Inc® Class Action
The Walgreens Boots Alliance, Inc. class action lawsuit alleges that the company misled investors about its regulatory compliance and engaged in widespread federal law violations regarding dispensing prescription medications. Defendants failed to disclose that Walgreens was involved in unlawful practices, including filling millions of controlled substance prescriptions without proper validation, leading to civil liability and reputational harm. When the U.S. Department of Justice filed a lawsuit against Walgreens, its stock price dropped by 12.06%, resulting in significant losses for shareholders.