Jan 7, 2022 | Filed Securities Cases
Kehoe Law Firm, P.C. is investigating whether Talis Biomedical Corporation (“Talis” or the “Company”) (NASDAQ: TLIS) violated federal securities laws.
TLIS INVESTORS WHO ACQUIRED THEIR SECURITIES PURSUANT AND/OR TRACEABLE TO THE REGISTRATION STATEMENT AND PROSPECTUS ISSUED IN CONNECTION WITH THE COMPANY’S FEBRUARY 2021 INITIAL PUBLIC OFFERING (“IPO”) ARE ENCOURAGED TO DISCUSS JOINING THE CLASS ACTION BY CLICKING “JOIN THE CLASS ACTION” OR “SECURITIES CLASS ACTION QUESTIONNAIRE.”
On January 7, 2022, a class action lawsuit was filed in United States District Court, Northern District of California, on behalf of persons and entities that purchased, or otherwise acquired, Talis common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s February 2021 IPO.
The Registration Statement, according to the complaint, was materially false and misleading and omitted to state (1) that the comparator assay in the primary study lacked sufficient sensitivity to support Talis’s EUA application for Talis One COVID-19 test; (2) as a result, Talis was reasonably likely to experience delays in obtaining regulatory approval for the Talis One COVID-19 test; (3) as a result, the Company’s commercialization timeline would be significantly delayed; and (4) as a result of the foregoing, the Talis Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Jan 7, 2022 | Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether FirstCash, Inc. (“FirstCash” or the “Company”) (NASDAQ: FCFS) violated federal securities laws or engaged in other unlawful business practices.
On November 12, 2021, the Consumer Financial Protection Bureau (“CFPB”) filed a lawsuit in the United States District Court for the Northern District of Texas against FirstCash and Cash America West, Inc.
FirstCash owns and operates over 1,000 retail pawnshops in the United States, offering pawn loans through its wholly-owned corporate subsidiaries, including Cash America West. Cash America West operates pawn stores in Arizona, Nevada, Utah, and Washington. The CFPB alleged that FirstCash and Cash America West made pawn loans to active-duty service members and their dependents that violated the Military Lending Act (“MLA”).
The MLA, according to the CFPB, puts in place protections in connection with extensions of consumer credit for active-duty service members and their dependents, who are defined as “covered borrowers.” These protections include a maximum allowable annual percentage rate of 36%, known as a Military Annual Percentage Rate (“MAPR”), a prohibition against required arbitration, and certain mandatory loan disclosures.
The CFPB alleged that between June 2017 and May 2021, FirstCash and Cash America West made over 3,600 pawn loans out of four of its stores to more than 1,000 covered borrowers that violated prohibitions of the MLA by imposing a MAPR greater than the MLA’s 36% cap; using loan agreements requiring arbitration in the case of a dispute; and without making required loan disclosures. The CFPB further alleged that since October 3, 2016, FirstCash has, together with Cash America West and other wholly-owned subsidiaries, made additional pawn loans in violation of the MLA from stores in these and other states.
In 2013, the CFPB ordered Cash America International, Inc. to halt its misconduct against military families, prohibiting Cash America and its successors from violating the MLA. FirstCash is a successor to Cash America and, according to the CFPB, therefore subject to the 2013 order. The CFPB alleged that FirstCash’s violations of the MLA violated the prohibitions of the Bureau’s 2013 order and, consequently, the Consumer Financial Protection Act of 2010. The CFPB’s complaint seeks redress for consumers, injunctive relief, and a civil money penalty.
On this news, shares of FirstCash stock fell 9% during intraday trading on November 12, 2021.
Jan 7, 2022 | Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether Honeywell International Inc. (“Honeywell” or the “Company”) (NASDAQ: HON) violated federal securities laws or engaged in other unlawful business practices.
October 22, 2021, Honeywell reported that it
. . . continue[s] to cooperate with investigations by the U.S. Department of Justice (DOJ), the Securities and Exchange Commission (SEC) and the Brazilian authorities relating to [the Company’s] use of third parties who previously worked for [Honeywell’s] UOP business in Brazil in relation to Petróleo Brasileiro S.A. (Petrobras) in connection with a project awarded in 2010. The investigations focus on compliance with the U.S. Foreign Corrupt Practices Act and similar Brazilian laws (the UOP Matters), and involve, among other things, document production and interviews with former and current management and employees. The DOJ and the SEC are also examining a matter involving a foreign subsidiary’s prior contract with Unaoil S.A.M. in Algeria executed in 2011. [Honeywell continues] to be engaged in discussions with the authorities with respect to a potential comprehensive resolution of these matters.
As the discussions are both ongoing and at different stages with regards to each respective authority, there can be no assurance as to whether [Honeywell] will reach a resolution with such authorities or as to the potential timing, terms, or collateral consequences of any such resolution. As a result, [Honeywell] cannot predict the ultimate outcome of these UOP Matters or the potential impact on the Company. Based on available information to date, [Honeywell] estimate[s] that a potential comprehensive resolution of these UOP Matters would result in a probable loss of at least $160 million, and [Honeywell has] recorded a charge in this amount in [the Company’s] Consolidated Statement of Operations, and have accrued a corresponding liability on the Consolidated Balance Sheet. [Emphasis added.]
On this news, shares of Honeywell stock dropped $7.12 per share, closing at $217.40 per share.
Jan 7, 2022 | Car Problems Car Complaints
Freightliner Custom Chassis XBP (2018); XBR (2017-2020); XBS (2017-2022); XCL (2016-2019); XCM (2016-2023); XCP(2017-2021); XCR (2016-2023); XCS (2017-2023)
Daimler Trucks North America LLC is recalling certain 2018 Freightliner Custom Chassis (“FCCC”) XBP; 2017-2020 XBR; 2017-2022 XBS; 2016-2019 XCL; 2016-2023 XCM; 2017-2021 XCP; 2016-2023 XCR; and 2017-2023 XCS recreational vehicle chassis. The rear mounted Power Distribution Module (“PDM”) may have internal damage, which could result in the rear marker lights, brake lights, or turn signals not functioning. Non-functioning brake lights, rear markers, or turn signals can reduce vehicle visibility to other drivers, increasing the risk of a crash. Please click NHTSA Campaign Number 21V00H000 for additional information about the safety issue and the reason for the vehicle recall.
Freightliner Sprinter 1500, 2500, 3500, 4500 & Mercedes-Benz Sprinter 1500, 2500, 3500 & 4500 Vehicles
Daimler Vans USA, LLC is recalling certain 2019-2021 Mercedes-Benz Sprinter and Freightliner Sprinter vehicles. A software error in the park lock system may allow the vehicle to move after the gear selector has been placed in the Park ‘P’ position without the parking brake applied. Unintentional vehicle movement can increase the risk of a crash. Please click NHTSA Campaign Number 21V972000 for additional about the safety issue and the reason for the vehicle recall.
How Do You Know If Your Vehicle Has Been Recalled?
Your vehicle MAY be involved in a safety recall which MAY create a safety risk for you or your passengers. If not repaired, a potential safety defect could lead to injury or even death. Safety defects must be repaired by a dealer at no cost to you. To find out if your vehicle is included in the recall, please use the NHTSA’s VIN Look-up Tool.
What Is A Vehicle Recall?
When a manufacturer or the NHTSA determines that a vehicle creates an unreasonable risk to safety or fails to meet minimum safety standards, the manufacturer is required to fix that vehicle at no cost to the owner. The fix, or repair, can be accomplished by repairing, replacing, offering a refund (for equipment) or, in rare cases, repurchasing the car/vehicle.
What Should I Do If My Vehicle Is Included In This Recall?
If your vehicle is included in a specific recall, it is very important that you get it fixed as soon as possible given the potential danger to you and your passengers if it is not addressed. You should receive a separate letter in the mail from the vehicle manufacturer, notifying you of the recall and explaining when the remedy will be available, whom to contact to repair your vehicle, and to remind you that the repair will be done at no charge to you. If you believe your vehicle is included in the recall, but you do not receive a letter in the mail from the vehicle manufacturer, please call NHTSA’s Vehicle Safety Hotline at 1-888-327-4236, or contact your vehicle manufacturer or dealership.
For additional information about vehicle recalls, please click Vehicle Recall FAQs.
Source: U.S. Department of Transportation, National Highway Traffic Safety Administration
VEHICLE OWNERS AND LESSEES AFFECTED BY AUTOMOTIVE DEFECTS OR SAFETY RECALLS ARE ENCOURAGED TO COMPLETE THE FORM ON THE RIGHT OR CONTACT KEHOE LAW FIRM, P.C., [email protected], FOR A FREE, NO-OBLIGATION EVALUATION OF POTENTIAL LEGAL CLAIMS.
