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Investors Sue Archer Daniels Midland (ADM) After Placing CFO On Leave Amid Accounting Probe and SEC Investigation – Hagens Berman

Retrieved on: 
Friday, February 16, 2024

SAN FRANCISCO, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Archer Daniels Midland Co. (NYSE: ADM) investors who suffered substantial losses to submit your losses now .

Key Points: 
  • SAN FRANCISCO, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Archer Daniels Midland Co. (NYSE: ADM) investors who suffered substantial losses to submit your losses now .
  • Archer Daniels Midland Co. (ADM) Securities Fraud Class Action:
    The litigation focuses on Archer Daniels’ statements about the performance of its Nutrition segment, a business the company poured billions of dollars into to protect against commodity price volatility in its legacy agricultural commodities trading business.
  • Investors began to learn the truth on Jan. 21, 2024, when Archer Daniels announced that it had placed CFO Vikram Luther on leave effective immediately.
  • This news sent the price of Archer Daniels shares crashing as much as $14.46 (or about 21%) lower during intraday trading on Jan. 22, 2024.

Cinemark Holdings, Inc. Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Friday, February 16, 2024

“2023 represented another year of meaningful progress for our industry and our company,” stated Sean Gamble, Cinemark’s President and CEO.

Key Points: 
  • “2023 represented another year of meaningful progress for our industry and our company,” stated Sean Gamble, Cinemark’s President and CEO.
  • Delivered $3.1 billion of total revenue for FY 2023, an increase of 25% year-over-year and within 7% of FY 2019.
  • Cinemark Holdings, Inc.’s total revenue for the three months ended December 31, 2023 increased 6.5% to $638.9 million compared with $599.7 million for the three months ended December 31, 2022.
  • Cinemark Holdings, Inc.’s total revenue for the twelve months ended December 31, 2023 increased 24.9% to $3,066.7 million compared with $2,454.7 million for the twelve months ended December 31, 2022.

Metalpha Reports Fiscal Year 2023 Financial Results

Retrieved on: 
Friday, February 16, 2024

HONG KONG, Feb. 15, 2024 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) (the "Company" or "Metalpha"), a global digital asset-based wealth management company, announced financial results for the fiscal year ended March 31, 2023 (the "FY 2023").

Key Points: 
  • HONG KONG, Feb. 15, 2024 /PRNewswire/ -- Metalpha Technology Holding Limited (Nasdaq: MATH) (the "Company" or "Metalpha"), a global digital asset-based wealth management company, announced financial results for the fiscal year ended March 31, 2023 (the "FY 2023").
  • The adjusted loss of the Company in FY 2023 was about $0.7 million.
  • The notional amount of derivative products issued in FY 2023 was $382 million compared to only $49 million in the fiscal year ended March 31, 2022 (the "FY 2022").
  • The income from the wealth management business jumped from $0.1 million in FY 2022 to $5.7 million in FY 2023.

Travere Therapeutics Reports Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Thursday, February 15, 2024

Net product sales for the fourth quarter of 2023 were $39.9 million, compared to $25.8 million for the same period in 2022.

Key Points: 
  • Net product sales for the fourth quarter of 2023 were $39.9 million, compared to $25.8 million for the same period in 2022.
  • Research and development (R&D) expenses for the fourth quarter of 2023 were $59.7 million, compared to $58.1 million for the same period in 2022.
  • Total other income, net, for the fourth quarter of 2023 was $5.7 million, compared to $1.1 million for the same period in 2022.
  • ET to discuss company updates as well as fourth quarter and full year 2023 financial results.

Snap Inc. (SNAP) stock tanks after reporting decelerating growth in DAUs - Hagens Berman

Retrieved on: 
Thursday, February 15, 2024

SAN FRANCISCO, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Snap Inc. (NYSE: SNAP) investors who suffered losses in excess of $250,000 to submit your losses now .

Key Points: 
  • SAN FRANCISCO, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Snap Inc. (NYSE: SNAP) investors who suffered losses in excess of $250,000 to submit your losses now .
  • “We’re focused on investors’ losses and whether Snap may have misled investors about its ability to capture increased ad spending,” said Reed Kathrein, the Hagens Berman partner leading the firm’s investigation.
  • Quarterly revenues came in at about $1.36 billion, just a 5% year-over-year increase and missing analysts’ consensus.
  • While the company said that its daily active user base grew 10% year-over-year to 414 million, that rate decelerated from prior quarters.

ADM INVESTOR DEADLINE APPROACHING: Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In ADM To Contact Him Directly To Discuss Their Options

Retrieved on: 
Thursday, February 15, 2024

NEW YORK, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Archer-Daniels-Midland Company (“ADM” or the “Company”) (NYSE: ADM) and reminds investors of the March 25, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

Key Points: 
  • Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
  • As ADM was aggressively acquiring companies to expand its capabilities in Nutrition, investors were under the impression that the segment was growing rapidly.
  • As a result, ADM delayed its Q4 and FY 2023 earnings release and withdrew its outlook for the Nutrition segment.
  • Faruqi & Faruqi, LLP also encourages anyone with information regarding ADM’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

SunPower Reports Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Thursday, February 15, 2024

"With the recent infusion of capital, SunPower is focused on driving positive free cash flow and profitability," said Peter Faricy, SunPower CEO.

Key Points: 
  • "With the recent infusion of capital, SunPower is focused on driving positive free cash flow and profitability," said Peter Faricy, SunPower CEO.
  • "This is a new opportunity for SunPower to reinforce our strong foundation as we continue to navigate an uncertain market in early 2024.
  • With this funding and industry tailwinds of extended tax credits and lower equipment costs, we believe SunPower is positioned to execute on maximizing the value proposition of solar and storage for our customers."
  • We will provide additional guidance later in the year, after we assess the implications of the recapitalization and restructuring."

Allot Announces Fourth Quarter & Full Year 2023 Financial Results

Retrieved on: 
Thursday, February 15, 2024

Total revenues for the fourth quarter of 2023 were $24.3 million, a decrease of 26.3% compared to $33.0 million in the fourth quarter of 2022.

Key Points: 
  • Total revenues for the fourth quarter of 2023 were $24.3 million, a decrease of 26.3% compared to $33.0 million in the fourth quarter of 2022.
  • Gross profit on a GAAP basis for the fourth quarter of 2023 was $11.4 million (gross margin of 46.8%), a 47.9% decline compared with $21.9 million (gross margin of 66.3%) in the fourth quarter of 2022.
  • Gross profit on a non-GAAP basis for the fourth quarter of 2023 was $12.6 million (gross margin of 51.7%), a 43.7% decline compared with $22.4 million (gross margin of 67.7%) in the fourth quarter of 2022.
  • The Allot management team will host a conference call to discuss its fourth quarter and full year 2023 earnings results today, February 15, 2024, at 8:30 am ET, 3:30 pm Israel time.

QuidelOrtho (QDEL) Stock Crashes After Posting YoY Revenue Decline, Analyst Downgrades - Hagens Berman

Retrieved on: 
Thursday, February 15, 2024

SAN FRANCISCO, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges QuidelOrtho Corporation (NASDAQ: QDEL) investors who suffered substantial losses to submit your losses now .

Key Points: 
  • SAN FRANCISCO, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges QuidelOrtho Corporation (NASDAQ: QDEL) investors who suffered substantial losses to submit your losses now .
  • “We’re investigating whether QuidelOrtho may have potentially misrepresented or concealed the true extent of the deterioration in its respiratory revenue,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
  • This news sent the price of QuidelOrtho crashing $21.50, or over 32%, lower on Feb. 14, 2024.
  • Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.

Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against BioNTech, Mobileye, BioVie, and ADM and Encourages Investors to Contact the Firm

Retrieved on: 
Thursday, February 15, 2024

According to the filed complaint, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects.

Key Points: 
  • According to the filed complaint, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects.
  • As ADM was aggressively acquiring companies to expand its capabilities in Nutrition, investors were under the impression that the segment was growing rapidly.
  • As a result, ADM delayed its Q4 and FY 2023 earnings release and withdrew its outlook for the Nutrition segment.
  • For more information on the ADM class action go to: https://bespc.com/cases/ADM