Securities Class Action

Woodruff Sawyer's Mid-Year Databox Report: Security Class Action Lawsuits Steady, Settlements Way UP

Retrieved on:

Tuesday, July 25, 2023

Initial public offering, Wells Fargo, Insurance, SCA, SPAC, Security (finance), Securities Class Action, Senior, D&O, SAN, D

SAN FRANCISCO, July 25, 2023 /PRNewswire/ -- Woodruff Sawyer's 2023 Mid-Year Databox Report, tracking Securities Class Action (SCA) lawsuits, highlights an intriguing trend. Current economic conditions have dramatically slowed the pace of IPOs, SPAC IPOs, and de-SPAC activity—popular sources of litigation for the plaintiffs' bar. However, SCA filings have increased slightly in the first half of the year and settlements, clocking in at $2.1B (excluding Wells Fargo's recent $1B settlement) are the highest they have been in a decade.

Key Points:

SAN FRANCISCO, July 25, 2023 /PRNewswire/ -- Woodruff Sawyer's 2023 Mid-Year Databox Report , tracking Securities Class Action (SCA) lawsuits, highlights an intriguing trend.
Current economic conditions have dramatically slowed the pace of IPOs, SPAC IPOs, and de-SPAC activity—popular sources of litigation for the plaintiffs' bar.
Excluding the $1 billion settlement by Wells Fargo & Company, the remaining top nine settlements comprised 67% of total settlement dollars ($1.4 billion).
With over 450 cases yet to be resolved, we anticipate that this be another expensive year for settlements.

Gainey McKenna & Egleston Investigates The Officers And Directors Of Dutch Bros, Inc. (BROS)

Retrieved on:

Wednesday, July 5, 2023

BROS, Pressure, Defendant, Securities Class Action, District court, NYSE

NEW YORK, July 05, 2023 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that it is investigating the officers and directors of Dutch Bros, Inc. (“Dutch Bros” or the “Company”) (NYSE: BROS) for potential breaches of fiduciary duties, waste of corporate assets and unjust enrichment between March 1, 2022 and May 11, 2022.

Key Points:

NEW YORK, July 05, 2023 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that it is investigating the officers and directors of Dutch Bros, Inc. (“Dutch Bros” or the “Company”) (NYSE: BROS) for potential breaches of fiduciary duties, waste of corporate assets and unjust enrichment between March 1, 2022 and May 11, 2022.
A securities class action complaint is pending in the United States District Court for the Southern District of New York (the “Securities Class Action”).
If you wish to discuss your rights or interests, please contact Thomas J. McKenna, Esq.
of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected] .

Saxena White P.A. Files New Securities Fraud Class Action on Behalf of Loyalty Ventures Inc. Investors

Retrieved on:

Friday, April 28, 2023

The Class Action filed by Saxena White is captioned: Newtyn Partners, LP and Newtyn TE Partners, LP v. Alliance Data Systems Corporation n/k/a Bread Financial Holdings, Inc., No.

Key Points:

The Class Action filed by Saxena White is captioned: Newtyn Partners, LP and Newtyn TE Partners, LP v. Alliance Data Systems Corporation n/k/a Bread Financial Holdings, Inc., No.
You do not need to seek appointment as lead plaintiff to share in any Class recovery in the Class Action.
Saxena White P.A., with offices in Florida, New York, California, and Delaware, is a leading national law firm focused on prosecuting securities class actions and other complex litigation on behalf of injured investors.
Currently serving as lead counsel in numerous securities fraud class actions nationwide, Saxena White has recovered billions of dollars on behalf of injured investors.

Gainey McKenna & Egleston Investigates The Officers And Directors Of CleanSpark, Inc. (CLSK)

Retrieved on:

Friday, March 24, 2023

Complaint, Defendant, Securities Class Action

The complaint in the Securities Class Action alleges that the Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects.

Key Points:

The complaint in the Securities Class Action alleges that the Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects.
Recently the court denied in part Defendant’s motion to dismiss a shareholder class action lawsuit pending against CleanSpark and certain of its officers.
If you wish to discuss your rights or interests, please contact Thomas J. McKenna, Esq.
of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected] .

Gainey McKenna & Egleston Investigates the Officers and Directors of Polished.com Inc. (f/k/a 1847 Goedeker Inc.) (POL; GOED)

Retrieved on:

Thursday, March 9, 2023

CFO, District court, Consultant, NYSE, Securities Class Action, IPO

A securities class action complaint is pending in the United States District Court for the Eastern District of New York (the “Securities Class Action”).

Key Points:

A securities class action complaint is pending in the United States District Court for the Eastern District of New York (the “Securities Class Action”).
When the true details entered the market, the lawsuit claims that investors suffered damages.
If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq.
of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected] .

Gainey McKenna & Egleston Investigates the Officers and Directors of Block, Inc. (SQ)

Retrieved on:

Thursday, March 9, 2023

Block, Inc., News, District court, Block, Name, NYSE, Securities Class Action, Cryptocurrency, Security (finance)

A securities class action complaint is pending in the United States District Court for the Southern District of New York (the “Securities Class Action”).

Key Points:

A securities class action complaint is pending in the United States District Court for the Southern District of New York (the “Securities Class Action”).
On April 4, 2022, Block announced that a former employee had improperly downloaded certain reports of Block’s subsidiary, Cash App Investing, on December 10, 2021.
If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq.
of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected] .

Momentus Announces Settlement of Class Action Lawsuit

Retrieved on:

Thursday, February 23, 2023

Earlier today, Momentus also announced a $10 million investment.

Key Points:

Earlier today, Momentus also announced a $10 million investment.
Momentus has a Share Repurchase Agreement for a final payment to the two founders of the Company of $10 million.
“Retirement of these issues clears the way for Momentus to continue progress on its vision to provide backbone infrastructure services for the growing space economy.
“The space economy continues to develop, and Momentus plans to play a leading role in enabling the growth and evolution of this vibrant part of the global economy.”

Cornerstone Research Report: Securities Class Action Filing Activity Fell for Third Straight Year as Volume of M&A Class Actions Declined

Retrieved on:

Wednesday, February 1, 2023

MENLO PARK, Calif., Feb. 1, 2023 /PRNewswire-PRWeb/ -- The volume of securities class action lawsuit filings fell for the third straight year in 2022, according to a report released today by Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse.

Key Points:

MENLO PARK, Calif., Feb. 1, 2023 /PRNewswire-PRWeb/ -- The volume of securities class action lawsuit filings fell for the third straight year in 2022, according to a report released today by Cornerstone Research and the Stanford Law School Securities Class Action Clearinghouse .
The 2022 decline was largely due to a continued decline in federal M&A filing activity.
Filings involving federal Section 11 claims and state claims under the Securities Act of 1933 rose 43% in 2022.
The Ninth Circuit accounted for 60% of total core federal MDL but only 31% of all core federal filings.

Saxena White P.A. Files New Securities Fraud Class Action Against Atlassian Corporation and Its Subsidiary Atlassian Corporation, Plc

Retrieved on:

Friday, February 3, 2023

Corporation, Saxena, Class Action, Class, White, City, Defendant, Person, District court, BOCA, Securities Class Action, Douglas v. U.S. District Court ex rel Talk America, Letter, News, Atlassian

has filed a securities fraud class action lawsuit (the “Class Action”) in the United States District Court for the Northern District of California against Atlassian Corporation and its subsidiary Atlassian Corporation Plc (together, “Atlassian” or the “Company”) (NASDAQ: TEAM) and certain of the Company’s executive officers (collectively, “Defendants”).

Key Points:

has filed a securities fraud class action lawsuit (the “Class Action”) in the United States District Court for the Northern District of California against Atlassian Corporation and its subsidiary Atlassian Corporation Plc (together, “Atlassian” or the “Company”) (NASDAQ: TEAM) and certain of the Company’s executive officers (collectively, “Defendants”).
The Class Action filed by Saxena White is captioned: City of Hollywood Firefighters’ Pension Fund v. Atlassian Corporation, No.
You do not need to seek appointment as lead plaintiff to share in any Class recovery in the Class Action.
Currently serving as lead counsel in numerous securities fraud class actions nationwide, Saxena White has recovered billions of dollars on behalf of injured investors.

Mohawk Provides Litigation and Earnings Guidance Update

Retrieved on:

Monday, January 16, 2023

BTA, EPS, Insurance, District court, Securities Class Action, Mohawk Industries, NYSE, MHK, Calendar, Tax, Intellectual property, Mohawk Industries, Inc. v. Carpenter, Mohawk

Mohawk believes that this Securities Class Action is without merit and that it has substantive defenses to the claims of liability and damages; however, Mohawk has concluded that further litigation would be protracted, burdensome and expensive.

Key Points:

Mohawk believes that this Securities Class Action is without merit and that it has substantive defenses to the claims of liability and damages; however, Mohawk has concluded that further litigation would be protracted, burdensome and expensive.
Mohawk has also successfully settled a previously disclosed dispute with the Belgian Tax Authority (“BTA”) regarding the tax treatment of royalty income arising from intellectual property.
Although Mohawk believes its tax position in Belgium is correct, Mohawk entered into an agreement with the BTA on November 23, 2022, to settle the dispute for a one-time payment of €3 million.
Since Mohawk issued its third quarter earnings release on October 27, 2022, the U.S. Federal Reserve has announced two additional interest rate increases.