Category: Regulations & Security

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Regulations & Security Sports & Gaming

Supreme Court of British Columbia grants final order to theScore approving arrangement with Penn National Gaming

Acquisition Expected to Close on October 19, 2021

 

TORONTO — (BUSINESS WIRE) — $SCR–Score Media and Gaming Inc. (TSX: SCR; NASDAQ: SCR) (“theScore” or the “Company”) is pleased to announce that the Supreme Court of British Columbia has issued a final order approving the previously announced plan of arrangement (the “Arrangement”) pursuant to which Penn National Gaming, Inc. (“Penn National”), by way of its subsidiary, will acquire all of the outstanding shares of theScore (other than those held by Penn National and its subsidiaries).

Subject to the satisfaction or waiver of the remaining conditions to closing contained in the arrangement agreement with Penn National, the Arrangement is expected to close on October 19, 2021.

 

About Score Media and Gaming Inc.

theScore empowers millions of sports fans through its digital media and sports betting products. Its media app ‘theScore’ is one of the most popular in North America, delivering fans highly personalized live scores, News stats, and betting information from their favorite teams, leagues, and players. The Company’s sports betting app ‘theScore Bet’ delivers an immersive and holistic mobile sports betting experience and is currently available to place wagers in New Jersey, Colorado, Indiana and Iowa. theScore also creates and distributes innovative digital content through its web, social and esports platforms.

 

About Penn National Gaming

With the nation’s largest and most diversified regional gaming footprint, including 43 properties across 20 states, Penn National continues to evolve into a highly innovative omni-channel provider of retail and online gaming, live racing and sports betting entertainment. The Company’s properties feature approximately 50,000 gaming machines, 1,300 table games and 8,800 hotel rooms, and operate under various well-known brands, including Hollywood, Ameristar, and L’Auberge. Our wholly-owned interactive division, Penn Interactive, operates retail sports betting across the Company’s portfolio, as well online social casino, bingo, and iCasino products. In February 2020, Penn National entered into a strategic partnership with Barstool Sports, whereby Barstool is exclusively promoting the Company’s land-based and online casinos and sports betting products, including the Barstool Sportsbook mobile app, to its national audience. The Company’s omni-channel approach is bolstered by the mychoice loyalty program, which rewards and recognizes its over 24 million members for their loyalty to both retail and online gaming and sports betting products with the most dynamic set of offers, experiences, and service levels in the industry.

 

Forward-Looking Information

Forward-Looking Information This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. These statements can be identified by the use of forward-looking terminology such as “expects,” “believes,” “estimates,” “projects,” “intends,” “plans,” “goal,” “seeks,” “may,” “will,” “should,” or “anticipates” or the negative or other variations of these or similar words, or by discussions of future events, strategies or risks and uncertainties. Specifically, forward-looking statements include, but are not limited to, statements regarding the Arrangement and the expected closing thereof. Such statements are all subject to risks, uncertainties and changes in circumstances that could significantly affect the Company’s future financial results and business as well as the expected completion of the Arrangement and the timing thereof. Accordingly, the Company cautions that the forward-looking statements contained herein are qualified by important factors that could cause actual results to differ materially from those reflected by such statements. Such factors include, but are not limited to: (a) the closing of the Arrangement may be delayed or may not occur at all, for reasons beyond the Company’s control; (b) the requirement for the closing conditions in the arrangement agreement with Penn National to be satisfied or waived; (c) the occurrence of any event, change or other circumstances that could give rise to the right of one or both of theScore and Penn National to terminate the arrangement agreement between the companies; and (d) other factors as discussed in theScore’s Annual Information Form as filed with applicable securities regulatory authorities in Canada and as filed with the U.S. Securities and Exchange Commission, and elsewhere in documents that theScore files from time to time with such securities regulatory authorities in Canada and with the U.S. Securities and Exchange Commission, including its Management’s Discussion & Analysis and the Management Information Circular of theScore dated September 10, 2021. The Company does not intend to update publicly any forward-looking statements except as required by law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release may not occur.

Contacts

Investor Relations:

Alvin Lobo

Chief Financial Officer

ir@thescore.com
416-479-8812

Richard Land, James Leahy

JCIR

scr@jcir.com
212-835-8500

General Media Inquiries:

Eric Schippers

SVP, Public Affairs & Government Relations

Penn National Gaming

Eric.Schippers@pngaming.com
610-378-8321

Daniel Sabreen

Vice President, Communications

Score Media and Gaming Inc.

dan.sabreen@thescore.com
917-722-3888 ext. 706

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Business Regulations & Security

LDI shareholder alert: Bronstein, Gewirtz & Grossman, LLC notifies loanDepot, Inc. investors of class action and encourages shareholders to contact the firm

NEW YORK — (BUSINESS WIRE) — Attorney Advertising– Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against loanDepot, Inc. (“loanDepot” or the “Company”) (NYSE: LDI) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired loanDepot securities pursuant and/or traceable to loanDepot’s February 16, 2021, initial public offering (the “IPO” or the “Offering”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/ldi.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933.

The Complaint alleges that the Registration Statement was negligently prepared and omitted to disclose material adverse facts. Specifically, Defendants failed to disclose to investors that: (1) the Company’s refinance originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition; (2) the Company’s gain-on-sale margins had already declined substantially at the time of the IPO; (3) as a result, the Company’s revenue and growth would be negatively impacted; and (4) consequently, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/ldi or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in loanDepot you have until November 8, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Nathanson

212-697-6484 | info@bgandg.com

Categories
Regulations & Security

CRMD SHAREHOLDER ALERT: Investors with substantial losses have opportunity to lead the CorMedix Inc. class action lawsuit

SAN DIEGO — (BUSINESS WIRE) — #CRMDstock—Robbins Geller Rudman & Dowd LLP announces that purchasers of CorMedix Inc. (NASDAQ: CRMD) securities between July 8, 2020 and May 13, 2021, inclusive (“Class Period”) have until September 20, 2021 to seek appointment as lead plaintiff in the CorMedix class action lawsuit. The CorMedix class action lawsuit charges CorMedix and certain of its top executives with violations of the Securities Exchange Act of 1934. The CorMedix class action lawsuit (Patrick v. CorMedix Inc., No. 21-cv-14020) was commenced on July 22, 2021 in the District of New Jersey and is assigned to Judge Julien Xavier Neals.

If you wish to serve as lead plaintiff of the CorMedix class action lawsuit, please provide your information by clicking here. You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com. Lead plaintiff motions for the CorMedix class action lawsuit must be filed with the court no later than September 20, 2021.

 

CASE ALLEGATIONS: The CorMedix class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) deficiencies existed with respect to CorMedix’s lead product candidate DefenCath’s manufacturing process and/or at the facility responsible for manufacturing DefenCath; (ii) in light of the foregoing deficiencies, the U.S. Food and Drug Administration (“FDA”) was unlikely to approve the DefenCath New Drug Application (“NDA”) for catheter-related bloodstream infections (“CRBSIs”) in its present form; (iii) defendants had downplayed the true scope of the deficiencies with DefenCath’s manufacturing process and/or at the facility responsible for manufacturing DefenCath; and (iv) as a result, CorMedix’s public statements were materially false and misleading at all relevant times.

 

On March 1, 2021, CorMedix issued a press release “announc[ing] that the [FDA] cannot approve the [NDA] for DefenCath . . . in its present form.” CorMedix informed investors that the “FDA noted concerns at the third-party manufacturing facility after a review of records requested by FDA and provided by the manufacturing facility”; that the “FDA did not specify the issues and CorMedix intends to work with the manufacturing facility to develop a plan for resolution when FDA informs the facility of the specific concerns”; that, “[w]hen we are informed of the issues, we will schedule an investor conference call to provide an update on our expected timeline for resolution”; and that “[a]dditionally, FDA is requiring a manual extraction study to demonstrate that the labeled volume can be consistently withdrawn from the vials despite an existing in-process control to demonstrate fill volume within specifications.” On this News CorMedix’s stock price fell nearly 40%.

 

Then, on April 14, 2021, CorMedix announced that it would have to take additional steps to meet the FDA’s requirements for DefenCath’s manufacturing process, including “[a]ddressing [the] FDA’s concerns regarding the qualification of the filling operation [that] may necessitate adjustments in the process and generation of additional data on operating parameters for manufacture of DefenCath.” On this News CorMedix’s stock price fell more than 15%.

 

Finally, on May 13, 2021, CorMedix announced that “[b]ased on our analyses, we have concluded that additional process qualification will be needed with subsequent validation to address the deficiencies identified by [the] FDA.” After an analyst pressed for clearer information on DefenCath’s manufacturing deficiencies on a conference call held that same day, CorMedix’s Executive Vice President and General Counsel, defendant Phoebe Mounts, disclosed among other things that “there are times when there may be unexpected results obtained”; that the FDA “expect[s] us to generate sufficient data to demonstrate that [the filling] process is a controlled process and is consistent with the agency’s requirements for good manufacturing practice”; that “sterility is a very important part of that process,” as well as “the accuracy in making sure the right volume of DefenCath is loaded into the vials”; that “we’re talking about thousands of vials during the manufacturing run”; that CorMedix must “generat[e] a lot of data to make sure that . . . all the equipment has been qualified for the intended use and every step in the manufacturing process has been qualified”; that “th[e] process needs to be very robust, [and] needs to be reproducible”; and that “the burden is on the manufacturer to demonstrate that the facility can do that process reducibly and generate the required product for commercial distribution.” On this News CorMedix’s stock price fell an additional 20%, further damaging investors.

 

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased CorMedix securities during the Class Period to seek appointment as lead plaintiff in the CorMedix class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the CorMedix class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the CorMedix class action lawsuit. An investor’s ability to share in any potential future recovery of the CorMedix class action lawsuit is not dependent upon serving as lead plaintiff.

 

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 lawyers in 9 offices nationwide, Robbins Geller Rudman & Dowd LLP is the largest U.S. law firm representing investors in securities class actions. Robbins Geller attorneys have obtained many of the largest shareholder recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. The 2020 ISS Securities Class Action Services Top 50 Report ranked Robbins Geller first for recovering $1.6 billion for investors last year, more than double the amount recovered by any other securities plaintiffs’ firm. Please visit https://www.rgrdlaw.com/firm.html for more information.

Attorney advertising.

Past results do not guarantee future outcomes.

Services may be performed by attorneys in any of our offices.

Contacts

Robbins Geller Rudman & Dowd LLP

655 W. Broadway, San Diego, CA 92101

J.C. Sanchez, 800-449-4900

jsanchez@rgrdlaw.com

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Regulations & Security Special/Sponsored Content

CORMEDIX ALERT: Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed against CorMedix Inc. and encourages investors to contact the firm

NEW YORK — (BUSINESS WIRE) — Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against CorMedix Inc. (“CorMedix” or the “Company”) (NASDAQ: CRMD) in the United States District Court for the District of New Jersey on behalf of all persons and entities who purchased or otherwise acquired CorMedix securities between July 8, 2020 and May 13, 2021, both dates inclusive (the “Class Period”). Investors have until September 20, 2021 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

Click here to participate in the action.

On March 1, 2021, CorMedix issued a press release “announc[ing] that the [FDA] cannot approve the [new drug application (“NDA”)] for DefenCath…in its present form.” CorMedix informed investors that the “FDA noted concerns at the third-party manufacturing facility after a review of records requested by FDA and provided by the manufacturing facility.”

On this News CorMedix’s stock price fell $5.98 per share, or 39.87%, to close at $9.02 per share on March 1, 2021.

Then on March 13, 2021, CorMedix announced that “[b]ased on our analyses, we have concluded that additional process qualification will be needed with subsequent validation to address the deficiencies identified by FDA.”

On this News CorMedix’s stock price fell $1.51 per share, or 19.97%, to close at $6.05 per share on May 14, 2021.

The complaint alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) deficiencies existed with respect to DefenCath’s manufacturing process and/or at the facility responsible for manufacturing DefenCath; (ii) in light of the foregoing deficiencies, the FDA was unlikely to approve the DefenCath NDA for catheter-related bloodstream infections (“CRBSIs”) in its present form; (iii) Defendants had downplayed the true scope of the deficiencies with DefenCath’s manufacturing process and/or at the facility responsible for manufacturing DefenCath; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

If you purchased or otherwise acquired CorMedix shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Bragar Eagel & Squire, P.C.

Brandon Walker, Esq.

Melissa Fortunato, Esq.

Marion Passmore, Esq.

(212) 355-4648

investigations@bespc.com
www.bespc.com

Categories
Regulations & Security

TEDU Investor Alert: Bronstein, Gewirtz & Grossman, LLC reminds Tarena International, Inc. investors of class action and encourages shareholders to contact the firm

NEW YORK — (BUSINESS WIRE) — Attorney Advertising–Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Tarena International, Inc. (“Tarena” or “the Company”) (NASDAQ: TEDU) and certain of its directors on behalf of shareholders who purchased or otherwise acquired Tarena securities between August 16, 2016 and November 1, 2019 (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/tedu.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) certain employees were interfering with external audits of Tarena’s financial statements for certain periods; (2) Tarena suffered from revenue and expense inaccuracies; (3) Tarena engaged in business transactions with organizations owned, invested in or controlled by Tarena employees or their family members, which in some instances were not properly disclosed by Tarena; (4) as a result of the foregoing, Tarena’s financial statements from 2014 through the end of Class Period were not accurate; 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.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/tedu or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Tarena you have until August 23, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Hurwitz

212-697-6484 | info@bgandg.com

Categories
Regulations & Security

HMPT Investor Alert: Bronstein, Gewirtz & Grossman, LLC reminds Home Point Capital Inc. Investors of class action and encourages shareholders to contact the firm

NEW YORK — (BUSINESS WIRE) — Attorney Advertising–Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Home Point Capital Inc. (“Home Point” or “the Company”) (NASDAQ: HMPT) and certain of its directors on behalf of shareholders who purchased or otherwise acquired Home Point securities common stock pursuant and/or traceable to the Company’s January 29, 2021, initial public offering (the “IPO” or “Offering”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/hmpt.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933.

The complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and was not prepared in accordance with the rules and regulations governing its preparation. Specifically, the complaint alleges that the Offering Documents made false and/or misleading statements and/or failed to disclose that: (1) Home Point’s aggressive expansion of its broker partners would dramatically increase the Company’s expenses; (2) the mortgage industry was anticipating industry-wide decreased gain-on-sale margins as a result of rising interest rates in 2021 and Home Point would be subject to the same competitive pressures; (3) accordingly, the Company had overstated its business and financial prospects; and (4) as a result, the Offering Documents were materially false and/or misleading and failed to state information required to be stated therein.

On May 6, 2021, Home Point issued a press release announcing the Company’s financial results for the first quarter of 2021. Among other results, Home Point reported revenue of $324.2 million, missing consensus estimates by $41.72 million. Following this News Home Point’s stock price fell $1.66 per share, or 17.7%, to close at $7.72 per share on May 6, 2021.

At the time this Complaint was filed, Home Point’s stock price has continued to trade below the $13.00 per share Offering price, damaging investors.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/hmpt or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Home Point you have until August 20, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Hurwitz

212-697-6484 | info@bgandg.com

Categories
Regulations & Security

What are Your Rights as an Employee in New Jersey?

The majority of employees in many countries work as a way of earning a living. To others, their careers and jobs define who they are as a person. Therefore, understanding their rights in employment places is essential to provide for the family as well as remain happy and healthy. The law clearly outlines the rights of every employee to ensure they are not discriminated against in workplaces. Consult with an employment lawyer in Trenton, NJ, to know your options if you are a victim of retaliation, wrongful termination, or any other injustice. Here are your rights in New Jersey:  

David Zatuchni
— Courtsey photo

 

Time off work

Did you know that you have permission to apply for time off from work in addition to the standard personal days, vacation time, paid time off, and sick leave? According to the Family and Medical Leave Act (FMLA), you have the right to take some time off to take care of a family member suffering from a severe medical condition or bond with a newborn child. Other rights to take time off include domestic violence leave, parental leave, paid family leave, and temporary disability benefits.

 

Employees attending to civic responsibility of voting or serving on a jury can take time off without the fear of retaliation or wrongful termination. The federal law also prohibits employers from deducting salaries from employees serving on a jury unless they spent more than one week away from work. Time off from work after domestic violence is usually meant to seek medical attention, attend court proceedings, and receive necessary counseling.

 

Discrimination and harassment law

Harassment and discrimination in workplaces is a direct violation of title vii of the civil rights act of 1964. The act prohibits employers from discriminating against their workers based on their race, age, sex, religion, gender, and national origin. Therefore, you should talk to a lawyer if you feel that the employer, supervisor, or other staff is mistreating you because of any mentioned factors. You should not be denied employment or fired because of your sex, religion, or even pregnancy.

 

Wage and hour rules

New Jersey provides strict guidelines on wages for all workers. The law states that the minimum wage in New Jersey as of 2014 is $8.25 per hour, and any overtime for hours exceeding 40 must be paid to hourly workers. Contact a legal professional if you have missed payment to recover the damages.

 

Sexual harassment

An employee in New Jersey and almost every other state in the U.S. can reject sexual advances from anyone in the workplace without fear of retaliation. If the choice creates a hostile working environment, you have the right to sue your employer for compensation.

 

Protecting your rights in New Jersey

As you have learned, there are so many ways the law protects workers in New Jersey against unethical practices by their employers. Discuss anything you feel is wrong with an experienced attorney to know whether you have a case.

 

— Zatuchni & Associates, Employment Lawyers

https://www.zatlaw.com/about/david-zatuchni/
Categories
Business Regulations & Security

Notice of lead plaintiff deadline for shareholders in the Provention Bio, Inc. class action lawsuit

SAN DIEGO — (BUSINESS WIRE) — #PRVBstock—Robbins Geller Rudman & Dowd LLP announces that a class action lawsuit has been filed in the District of New Jersey on behalf of purchasers of Provention Bio, Inc. (NASDAQ:PRVB) securities between November 2, 2020 and April 8, 2021, inclusive (the “Class Period”). The case is captioned Paxton v. Provention Bio, Inc., No. 21-cv-11613. The Provention Bio class action lawsuit charges Provention Bio and certain of its executives with violations of the Securities Exchange Act of 1934.

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Provention Bio securities during the Class Period to seek appointment as lead plaintiff in the Provention Bio class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Provention Bio class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Provention Bio class action lawsuit. An investor’s ability to share in any potential future recovery of the Provention Bio class action lawsuit is not dependent upon serving as lead plaintiff. If you wish to serve as lead plaintiff of the Provention Bio class action lawsuit or have questions concerning your rights regarding the Provention Bio class action lawsuit, please provide your information here or contact counsel, J.C. Sanchez of Robbins Geller, at 800/449-4900 or 619/231-1058 or via e-mail at jsanchez@rgrdlaw.com. Lead plaintiff motions for the Provention Bio class action lawsuit must be filed with the court no later than July 20, 2021.

Provention Bio is a clinical stage biopharmaceutical company. Provention Bio’s product candidates include, among others, PRV-031 teplizumab and monoclonal antibodies, in Phase III clinical trial for the interception of type one diabetes (“T1D”). In November 2020, Provention Bio completed the rolling submission of a Biologics License Application (“BLA”) to the U.S. Food and Drug Administration (“FDA”) for teplizumab for the delay or prevention of clinical T1D in at-risk individuals (the “teplizumab BLA”).

The Provention Bio class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Provention Bio’s teplizumab BLA was deficient in its submitted form and would require additional data to secure FDA approval; (ii) accordingly, Provention Bio’s teplizumab BLA lacked the evidentiary support Provention Bio had led investors to believe it possessed; (iii) Provention Bio had thus overstated the teplizumab BLA’s approval prospects and hence the commercialization timeline for teplizumab; and (iv) as a result, Provention Bio’s public statements were materially false and misleading at all relevant times.

On April 8, 2021, Provention Bio issued a press release “announc[ing] that the Company received a notification on April 2, 2021 from the [FDA], stating that, as part of its ongoing review of the Company’s [BLA] for teplizumab for the delay or prevention of clinical [T1D], the FDA has identified deficiencies that preclude discussion of labeling and post-marketing requirements/commitments at this time.” On this News Provention Bio’s stock price fell nearly 18%, damaging investors.

Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities class action litigation. With 200 lawyers in 9 offices, Robbins Geller has obtained many of the largest securities class action recoveries in history. ISS Securities Class Action Services has ranked Robbins Geller as one of the top law firms in the world in both amount recovered and total number of class action settlements for shareholders every year since 2010. The SCAS 2020 Top 50 Report ranked Robbins Geller first for recovering $1.6 billion for investors last year, more than double the amount recovered by any other plaintiffs’ firm. Robbins Geller attorneys have helped shape the securities laws and have recovered tens of billions of dollars on behalf of aggrieved victims. Beyond securing financial recoveries for defrauded investors, Robbins Geller also specializes in implementing corporate governance reforms, helping to improve the financial markets for investors worldwide. Robbins Geller attorneys are consistently recognized by courts, professional organizations, and the media as leading lawyers in the industry. Please visit http://www.rgrdlaw.com for more information.

Contacts

Robbins Geller Rudman & Dowd LLP

J.C. Sanchez, 800-449-4900

jsanchez@rgrdlaw.com

Categories
Regulations & Security

NEPT Investor Alert: Bronstein, Gewirtz & Grossman, LLC reminds Neptune Wellness Solutions Inc. shareholders of Class Action and encourages investors to contact the firm

NEW YORK — (BUSINESS WIRE) — Attorney Advertising–Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Neptune Wellness Solutions Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Neptune securities between July 24, 2019 and February 16, 2021, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/nept.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and failed to disclose that: (1) the cost of Neptune’s integration of the assets and operations acquired in the SugarLeaf Acquisition would be larger than the Company had acknowledged, placing significant strain on the Company’s capital reserves; (2) accordingly, it was reasonably foreseeable that the company would need to conduct additional stock offerings to raise more capital; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/nept or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Neptune you have until May 17, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Hurwitz

212-697-6484 | info@bgandg.com

Categories
Business Regulations & Security Technology

VRM Investor Alert: Bronstein, Gewirtz & Grossman, LLC reminds Vroom, Inc. shareholders of class action and encourages investors to contact the firm

NEW YORK — (BUSINESS WIRE) — Attorney Advertising–Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Vroom, Inc. (“Vroom” or “the Company”) (NASDAQ: VRM) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Root securities between June 9, 2020 and March 3, 2021, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/vrm.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The complaint alleges that throughout the Class Period, Defandants made materially false and/or misleading statements and failed to disclose that: (1) Vroom had not demonstrated that it was able to control and scale growth in respect to its salesforce to meet the demand for its products; (2) as a result, the Company was forced to discount aged inventory to move through its retail channels or liquidated in its wholesale channels; (3) as a result, the ecommerce gross profit per unit was reasonably likely to decline; and (4) consequently, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/vrm or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Vroom you have until May 21, 2021 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Hurwitz

212-697-6484 | info@bgandg.com