Cases – Page 86 – ClaimsFiler

Recent Security Class Actions

According to the law firm press release, Immunomedics, a clinical-stage biopharmaceutical company, focuses on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune, and other diseases. Among other product candidates, the Company is developing the antibody-drug conjugate sacituzumab govitecan IMMU-132 ("IMMU-132"), which is in Phase II trials for treatment of patients with metastatic triple-negative breast cancer and small-cell and non-small-cell lung cancers.

According to the law firm press release, NewLink, a biopharmaceutical company, focuses on discovering, developing, and commercializing immunotherapeutic products to enhance treatment options for patients with cancer. Among the Company's product candidates is algenpantucel-L, a pancreatic cancer treatment.

According to the law firm press release, the lawsuit alleges throughout the Class Period defendants issued false and misleading statements about Daimler's compliance with emissions standards and Daimler's purported eco-friendly BlueTEC diesel engines. The lawsuit claims that when the true fact entered the market, the value of Daimler shares fell, damaging investors.

According to the law firm press release, Horsehead, together with its subsidiaries, is a leading U.S. producer of zinc metal and a leading recycler of electric arc furnace dust. The Company derives the majority of its revenues from the sale of zinc. On February 2, 2016, Horsehead filed for protection under the bankruptcy laws and, therefore, is not named as a defendant in this action.

According to the law firm press release, the lawsuit alleges defendants throughout the Class Period issued false and misleading statements to investors and/or failed to disclose that: (1) Sports Authority's financial woes would impact Performance Sports Group's financial performance; (2) the baseball and softball markets were in decline; (3) the consolidation of Performance Sports Group's U.S. Hockey customers would create a smaller demand for hockey equipment; and (4) as a result, defendants' statements about Performance Sports Group's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

According to the law firm press release, Navient provides financial products and services in the United States. The company operates in four segments: Federal Family Education Loan Program ("FFELP") Loans, Private Education Loans, Business Services, and Other. The Company provides FFELP loans and servicing for FFELP loan portfolios; and servicing and asset recovery services for loans on behalf of guarantors of FFELP loans, guaranty agencies, higher education institutions, the United States Department of Education, and other federal clients, as well as states, courts, and municipalities. Navient also acquires, finances, and services private education loans.

According to the law firm press release, Insys is a commercial-stage specialty pharmaceutical company that develops and commercializes supportive care products primarily designed to assist patients with pain management attributable to their disease, treatment, or therapy. The Company's principal product and source of revenue is Subsys, a sublingual fentanyl spray designed to treat breakthrough cancer pain ("BTCP") in opioid-tolerant patients.

According to the law firm press release, Esperion is a pharmaceutical company that focuses on developing and commercializing oral low-density lipoprotein cholesterol ("LDL-cholesterol") lowering therapies for patients with hypercholesterolemia. Esperion's lead product candidate is ETC-1002, a once-daily small molecule designed to lower LDL-cholesterol levels. According to Esperion, ETC-1002 is designed to lower LDL-cholesterol while avoiding the side effects associated with other LDL-cholesterol lowering therapies on the market.

On January 11, 2016, The Bank of New York Mellon was sued for violations of the federal securities laws in the United States District Court for the Southern District of New York on behalf of investors who from January 1, 1997 through the present (the “Class Period”), were holders of American depositary receipts for which BNYM served as the depositary bank and converted dividends or other cash distributions into USD.

According to the law firm press release, the lawsuit alleges throughout the Class Period Defendants issued false and misleading statements to investors and/or failed to disclose that: (1) the accident at Samarco of the bursting of the Fundao Dam resulted in the spillage of toxic waste; (2) Vale had a contract with Samarco that allowed Vale to deposit iron ore waste from its treatment plants from Vale's Alegria mine into the Fundao Dam; (3) Vale's programs and procedures to mitigate environmental, health and safety incidents were inadequate; and (4) as a result, Defendants' statements about Vale's business and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On November 20, 2015, Citigroup Inc. (“Citigroup”), Citibank, N.A. (“Citibank”), and Citigroup Global Markets Inc. (“CGMI”) were sued for violations of the federal securities laws in the United States District Court for the Southern District of New York on behalf of all persons or entities who, from or after at least January 1, 2000 to the present (the “Class Period”), are or were holders of depositary receipts for which Citi served as the depositary bank and converted foreign-currency dividends or other distributions into USD (the “Class”).

VimpelCom Ltd. (NASDAQ: VIP)

According to the law firm press release, VimpelCom provides telecommunications services under various brand names in Italy, Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Laos, Algeria, Bangladesh, and Pakistan. The Company offers voice and data services through a range of traditional and broadband mobile and fixed line technologies. The Company offers mobile telecommunications services under contract and prepaid plans for both corporate and consumer segments; value-added and call completion services; national and international roaming services; wireless Internet access; mobile financial services; and mobile bundles. It also provides fixed-line telecommunication services, such as voice, data, and Internet services to corporations, operators, and consumers.

According to the law firm press release, the lawsuit alleges throughout the Class Period, Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) Valeant had deficient internal controls, (2) Valeant had a relationship with a network of specialty pharmacies used to boost Valeant's sales of its high-priced drugs; (3) the use of specialty pharmacies left Valeant vulnerable to increased regulatory risks, (4) Defendants were under government scrutiny for its financial assistance programs for patients, pricing decisions and the distribution of its products, (5) Valeant faced the risk of scrutiny over its price increases, (6) without using specialty pharmacies, Valeant's financial performance would be negatively impacted, (7) without using specialty pharmacies, Valeant's Class Period performance would have been negatively impacted, (8) Valeant's true relationship with Philidor and the extent of that relationship, (9) Valeant controlled Philidor, (10) Valeant's subsidiary KGA had a secured lien interest on Philidor's ownership, (11) Defendants were engaged in a scheme to manipulate Valeant's stock price, and (12) as a result, Valeant's public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

According to the law firm press release, BofI operates as the holding company for BofI Federal Bank, a provider of consumer and business banking products through the Internet in the United States. BofI Federal Bank's most significant business is making mortgages to high-net worth individuals for the purchase of expensive properties though BofI Federal Bank's Bank of Internet USA ("Bank of Internet") brand.

According to the law firm press release, the lawsuit alleges throughout the Class Period, Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) the Company had deficient internal controls, (2) the lack of internal controls allowed Defendant to exert influence and control over the Company, (3) the Company was engaged in improper and undisclosed material related party transactions, (4) Defendants were engaged in a scheme to manipulate the Company's stock price, and (5) as a result, the Company's public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

On October 7, 2015, Hudson City Bancorp, Inc. was sued for violations of the federal securities laws in the United States District Court for the District of Delaware on behalf of all persons or entities who were shareholders of Hudson City Bancorp, Inc. ("Hudson City") and were entitled to vote on the Merger pursuant to the Joint Proxy dated February 22, 2013.

According to the law firm press release, Constant Contact originated as an email marketing platform for small and midsize organizations. The Company has progressed to provide a suite of online marketing tools that are designed for small organizations, including small businesses, associations and non-profits.

According to the law firm press release, LifeLock provides identity theft protection services for consumers and fraud and risk solutions for enterprises. LifeLock's threat detection, proactive identity alerts, and comprehensive remediation services purportedly provide peace of mind for consumers amid the growing threat of identity theft. In 2010 the Company entered into a settlement order with the Federal Trade Commission ("FTC") and purportedly changed its marketing and business practices in connection with this settlement.

According to the law firm press release, the lawsuit alleges defendants throughout the Class Period issued materially false and misleading statements to investors and/or failed to disclose that: (1) Silver Wheaton's financial statements contained errors concerning income tax owed from the income generated by its foreign subsidiaries; (2) Silver Wheaton lacked adequate internal controls over its financial reporting; and (3) as a result of the foregoing, Silver Wheaton's financial statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

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