Cases – Page 40 – ClaimsFiler

Recent Security Class Actions

According to the Complaint, Covia purports to be in the business of minerals and materials solutions for the industrial and energy markets, including producing proprietary sand for use in fracking.

According to the Complaint, Minerva Neurosciences, Inc. purports to be a clinical-stage biopharmaceutical company focused on the development and commercialization of a portfolio of product candidates to treat patients suffering from central nervous diseases. The Company’s lead product candidate is roluperidone, in development for the treatment of negative symptoms in patients with schizophrenia.

According to the Complaint, Changyou.com Limited is a leading online game developer and operator in China as measured by the popularity of its PC game TLBB and its mobile game Legacy TLBB Mobile. Changyou also engages in the development, operation and licensing of its massively multi-player online role-playing games, which are interactive games that may be played simultaneously by hundreds of thousands of game players.

According to the Complaint, Splunk Inc. "provides innovative software solutions that ingest data from different sources including systems, devices and interactions, and turn that data into meaningful business insights across the organization." Splunk states that its "Data-to-Everything platform enables users to investigate, monitor, analyze and act on data regardless of format or source."

According to the Complaint, Northern Dynasty Minerals Ltd. engages in the exploration of mineral properties in the United States. Its principal mineral property is the Pebble copper-gold-molybdenum project comprising 2,402 mineral claims that covers an area of approximately 417 square miles located in southwest Alaska (the "Pebble Project").

According to the Complaint, Fortress Biotech, Inc. develops and commercializes pharmaceutical and biotechnology products. In December 2019, the Company’s majority-controlled subsidiary, Avenue Therapeutics, Inc., which Fortress founded in 2015, submitted a New Drug Application for its intravenous Tramadol product to the U.S. Food and Drug Administration for the management of moderate to moderately severe pain in adults in a medically supervised health care setting.

According to the Complaint, Pinterest is a Delaware corporation headquartered in San Francisco, California. The Company is an image sharing and social media service comprised of small images or “pins” for finding ideas like recipes, home décor and style inspiration.

According to the Complaint, it is alleged that Defendants made false and/or misleading statements and/or failed to disclose that: (1) JOYY dramatically overstated its revenues from live streaming sources; (2) the majority of users at any given time were bots; (2) the Company utilized these bots to effect a roundtripping scheme that manufactured the false appearance of revenues; (3) the Company overstated its cash reserves; (4) the Company’s acquisition of Bigo was largely contrived to benefit corporate insiders; and (5) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

According to the Complaint, Berry purports to be an independent upstream energy company and engages in the development and production of conventional oil reserves located in the western United States. The Company's properties are located in the San Joaquin and Ventura basins, California; Uinta basin, Utah; and Piceance basin, Colorado. As of December 31, 2019, Berry had a total of 3,541 net producing wells.

K12 Inc. (NYSE: LRN)

According to the Complaint, K12 is a technology-based education company that provides proprietary and third-party educational curriculum, teacher training, administrative support, information technology support, software systems and educational services. The Company operates virtual learning systems worldwide.

According to the Complaint, it is alleged Defendants made false and/or misleading statements and/or failed to disclose that: (1) the larger dataset did not provide necessary data regarding aducanumab’s effectiveness; (2) the EMERGE study did not and would not provide necessary data regarding aducanumab’s effectiveness; (3) the PRIME study did not and would not provide necessary data regarding aducanumab’s effectiveness; (4) the data provided by the Company to the FDA’s Peripheral and Central Nervous System Drugs Advisory Committee did not support finding efficacy of aducanumab; and (5) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

According to the Complaint, Interface, Inc. is a modular flooring company that designs, produces, and sells modular carpet products primarily in the Americas, Europe, and the Asia-Pacific.

According to the Complaint, Neovasc Inc. is a specialty medical device company that develops, manufactures and markets products for cardiovascular diseases, including the Tiara technology and the Reducer. The Company’s Reducer is a medical device that treats refractory angina by altering blood flow in the heart’s circulatory system.

According to the Complaint, Intercept Pharmaceuticals, Inc. is a biopharmaceutical company that focuses on the development and commercialization of therapeutics to treat progressive non-viral liver diseases in the U.S. Intercept's lead product candidate is Ocaliva (OCA), a farnesoid X receptor agonist used for the treatment of PBC, a rare and chronic liver disease, in combination with ursodeoxycholic acid in adults. The Company is also developing OCA for various other indications, including NASH.

According to the Complaint, HP Inc. provides personal computers, printers, and related supplies, solutions, and services. The Company conducts business primarily through two segments: Printing and Personal Systems. The Printing segment provides consumer and commercial printer hardware, supplies, solutions, and services. The Personal Systems segment provides commercial and consumer computers and related software, support, and services.

According to the Complaint, Raytheon Technologies Corporation purports to be an aerospace and defense company providing advanced systems and services for commercial, military, and government customers worldwide. On April 3, 2020, United Technologies Corporation and Raytheon Company completed a merger and changed the Company’s name to “Raytheon Technologies Corporation” and its common stock symbol to “RTX.” Before the merger in April 2020, Raytheon Company stock traded under the ticker symbol “RTN.”

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