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Applied Therapeutics Inc® 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.

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AstraZeneca PLC® Class Action

he AstraZeneca PLC® class action lawsuit alleges the company misled investors about its performance in China. AstraZeneca claimed strong growth driven by rising demand, competitive advantage, and new product launches. However, the truth emerged when it was revealed that AstraZeneca’s success in China was based on an extensive insurance fraud scheme and illegal drug imports. This led to the arrest of senior executives, including the President of its Chinese division. Following the revelations, AstraZeneca’s stock price fell significantly, losing over 19% in value from October to December 2024, causing harm to investors.

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BioAge Labs, Inc® Shareholder Class Action

The BioAge® class action lawsuit alleges that the company misled investors in its IPO documents by falsely describing its lead drug candidate, azelaprag, as "well-tolerated" without disclosing significant safety risks. The lawsuit claims BioAge omitted details about elevated liver enzyme levels, a potential sign of organ damage, in the STRIDES Phase 2 trial. On December 6, 2024, BioAge announced it was halting the trial due to safety concerns, causing its stock price to crash over 76%. Investors suffered substantial losses, with shares falling from $18 at the IPO to $5.36.

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Capri Holdings Ltd® Class Action

The Capri Holdings Limited® class action lawsuit claims the company misled investors about its merger with Tapestry. The lawsuit alleges that Capri and Tapestry failed to disclose their brands, including Michael Kors and Coach, were direct competitors in the "accessible luxury handbag" market, and that the merger aimed to reduce competition and increase prices. The truth emerged when a federal judge blocked the acquisition, revealing that the brands were indeed direct competitors. Following this news, Capri’s stock price dropped by nearly 50%, resulting in significant losses for investors.

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Cassava Sciences Inc® Class Action

The Cassava Sciences, Inc.® class action lawsuit claims that the company misled investors about its leading drug candidate, simufilam, for treating Alzheimer's Disease. Cassava executives expressed strong confidence in the drug’s potential. However, on November 25, 2024, the company released disappointing results from its "ReThink-ALZ" Phase 3 study, showing that simufilam failed to meet key clinical endpoints and performed worse than the placebo. Following this revelation, Cassava’s stock price plummeted by nearly 84%, dropping from $26.48 to $4.30 per share, causing significant financial losses for investors.

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Dentsply Sirona Inc® Class Action

The Dentsply Sirona, Inc.® class action alleges that the company misled investors by making false statements about its Byte aligners and failing to disclose significant issues. Key claims include Dentsply targeting ineligible low-income patients, leading to severe injuries and inadequate patient screening. Despite knowing about these injuries, Dentsply did not inform the FDA as required. The company also overstated the value of Byte, and its positive statements were misleading. The truth emerged in late 2024 when Dentsply suspended Byte sales, revealing a $450-$550 million goodwill impairment and causing its stock price to drop significantly.

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DMC Global Inc® Class Action

The DMC Global Inc.® class action claims the company misled investors by making false statements about its operations and financial performance. The lawsuit alleges that DMC overstated the value of its Acadia Products segment, failed to address internal system issues, and provided inaccurate financial guidance. These misrepresentations led to the company’s financial results being misrepresented. The truth was revealed in October 2024 when DMC revised its economic outlook and disclosed a $142 million goodwill impairment, causing the stock to drop by more than 18%. Further disappointing results in November led to an additional stock decline.

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Enphase Energy Inc® Class Action

The Enphase Energy, Inc.® class action lawsuit alleges the company misled investors about its ability to maintain market share and pricing levels in Europe. Enphase’s leadership falsely claimed strong growth across European markets during the class period, particularly in the Netherlands, France, and Germany. However, the company later reported a significant decline in European revenue due to softening demand and competitive pressures from low-cost Chinese alternatives. These omissions and misstatements led to stock price drops of 15% in 2023 and 2024 after the truth about the company’s financial performance was revealed.

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Flagstar Financial Inc® Class Action

The Flagstar Financial, Inc.® class action lawsuit claims that before its merger with New York Community Bancorp (NYCB), Flagstar misrepresented NYCB's financial health. The merger's offering documents falsely inflated NYCB's income, assets, and goodwill while understating expenses and risks. After the merger, NYCB revealed a significant $252 million loss due to excessive loan provisions, causing its stock price to drop 38%. Further disclosures of poor risk management and internal control failures led to further losses, credit downgrades, and leadership changes, resulting in financial harm for shareholders.

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Kyverna Therapeutics Inc® Class Action

The Kyverna Therapeutics, Inc.® class action lawsuit alleges the company misled investors during its IPO by failing to disclose negative information about one of its clinical trials. The lawsuit claims this omission misrepresented the company's prospects, as the undisclosed issues significantly impacted Kyverna's main product. The company's registration statement failed to adequately address the risks related to the trial's adverse results. After the information was revealed in June 2024, Kyverna's stock price dropped by over 82%, from $22 per share at the IPO to as low as $3.92 per share.

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Marqeta Inc® Class Action

The Marqeta, Inc.® class action lawsuit claims the company misled investors by failing to disclose the regulatory challenges impacting its business and overstating its growth outlook. The lawsuit alleges that Marqeta's failure to communicate these challenges accurately led to the company cutting its fourth-quarter guidance for 2024. When the truth was revealed on November 4, 2024, Marqeta lowered its revenue and profit growth projections, causing the stock price to drop 42%. Following this, analysts downgraded Marqeta's stock, citing a loss of credibility and uncertainty about future performance.

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MGP Ingredients Inc® Class Action

The MGP Ingredients, Inc.® class action lawsuit claims that the company misled investors about the demand for alcoholic beverages, particularly whiskey and tequila. Defendants falsely advertised strong demand and normal inventory levels while there was a slowdown in consumption and an oversupply of products. The truth came to light in October 2024 when MGPI reported a 14% decline in sales and acknowledged softening trends in the whiskey market. This led to significant stock price drops, with shares falling nearly 30% following the news.

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Nextracker Inc® Class Action

The Nextracker Inc.® class action lawsuit alleges the company misled investors about its financial health and prospects. Specifically, Nextracker downplayed the impact of project delays, permitting issues, and interconnection setbacks on its ability to convert backlog into revenue. The company also misrepresented its competitive advantages and ability to offset industry-wide challenges. When Nextracker revealed declining revenue and a reduction in profit for the first fiscal quarter of 2025, its stock price dropped by approximately 15%, exposing the company's false statements.

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Regeneron Pharmaceuticals, Inc.®

The Regeneron class action lawsuit alleges the company misled investors by failing to disclose its subsidized credit card fees for Eylea distributors, boosting sales figures, and violating the False Claims Act. On April 10, 2024, the DOJ filed a complaint, claiming Regeneron inflated Eylea's Average Sales Price, resulting in higher Medicare reimbursements. Following the news, shares dropped $31.50. Later, on October 31, 2024, disappointing Eylea sales were revealed, missing estimates and reflecting price declines. This caused Regeneron's stock to fall $84.59, leaving investors facing significant losses.

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Rentokil Initial PLC® Class Action

The Rentokil Initial PLC® class action accuses the company of making false statements and withholding critical information about its integration of Terminix. It claims Rentokil faced significant challenges in merging the two businesses, leading to disruptions and negatively impacting North American revenue growth. Despite assurances from company leadership, the truth emerged when Rentokil reported lower-than-expected growth in early 2024, causing a significant drop in stock prices. Further updates revealed ongoing integration struggles, prompting another sharp decline in stock value by September 2024, confirming the company's inability to meet its growth targets.

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Sun Communities Inc® Class Action

The Sun Communities, Inc.® class action lawsuit alleges that the company misled investors about its financial practices and internal controls. Defendants, including the CEO, made overly optimistic statements about SUI's performance while concealing material facts, such as undisclosed loans and a $4 million mortgage involving the CEO and a board member. These omissions led to inflated stock prices, with investors unknowingly purchasing securities at artificially high values. The truth came to light on September 24, 2024, when a report revealed the undisclosed financial dealings, causing SUI's stock price to drop significantly.

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Transocean Ltd® Class Action

The Transocean Ltd.® class action lawsuit alleges the company misled investors about its offshore drilling operations and asset values. Specifically, Transocean failed to disclose that two rigs, the Discoverer Inspiration, and the Development Driller III, were considered non-strategic assets and that their sale would result in a significant impairment charge. The truth emerged when the company announced the sale and the $645 million impairment, causing Transocean's stock price to drop by 8.86%, leading to substantial losses for investors.