Septerna, Inc. – Securities Investigation – SEPN
SEND US A MESSAGE
Contact Us
ADDRESS
Kehoe Law Firm, P.C.
2001 Market Street
Suite 2500
Philadelphia, PA 19103
Atkore, Inc. – ATKR
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of Atkore Inc. (“Atkore” or the “Company”) (NYSE:ATKR) investors who acquired Atkore stock securities between February 1, 2024 and February 3, 2025, inclusive (the “Class Period”).
The investigation also concerns whether certain officers and directors of the Company breached their fiduciary duties by failing to manage Atkore in an acceptable manner and whether the Company and its shareholders were harmed as a result.
Securities Fraud Class Action Lawsuit Filed Against Atkore
On February 21, 2025, a securities fraud class action lawsuit was filed in United States District Court, Northern District of Illinois (No. 1:25-cv-1851), against Atkore pursuing remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5 promulgated thereunder.
In summary, the class action lawsuit alleges that the Atkore defendants engaged in an anticompetitive price-fixing scheme that artificially inflated the price of PVC pipes; reaped significant, unsustainable financial benefits from anticompetitive conduct; and as Atkore’s price-fixing scheme was exposed, the Company and its price-fixing conspirators were no longer able to artificially inflate the price of PVC pipe, resulting in a substantial decrease in the price of PVC pipe and a negative impact on Atkore’s business and operations.
Atkore also has been named as a defendant in civil antitrust lawsuits alleging that Atkore and other U.S.-based PVC pipe manufacturers conspired to artificially inflate the price of PVC pipe.
Additionally, Atkore recently filed a Form 8-K which stated that “[o]n February 13, 2025, the Company received from the U.S. Department of Justice (“DOJ”) Antitrust Division a grand jury subpoena issued by the U.S. District Court for the Northern District of California. The subpoena calls for production of documents relating to the pricing of the Company’s PVC pipe and conduit products.”
Atkore Investors: Learn More About the Investigation and Your Legal Options
Investors who acquired their Atkore stock securities during the Class Period are encouraged to send us a message or contact Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], for a free, no-obligation evaluation of potential legal claims.
About Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is a nationally recognized, plaintiff-side class action firm dedicated to protecting investors and consumers from fraud and misconduct. Our attorneys have served as Lead or Co-Lead Counsel in major securities cases, recovering over $10 billion for institutional and individual investors.
Our firm litigates securities fraud, fiduciary breaches, unfair mergers and acquisitions, and antitrust violations, while also representing whistleblowers and advocating for victims of data breaches, consumer fraud, vehicle and product defects, employment law violations, retirement plan mismanagement, and other corporate and business misconduct. With a results-driven approach, we pursue justice and substantial recoveries for those we represent.
Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning clients are not responsible for any fees or litigation expenses.
SEND US A MESSAGE
Contact Us
ADDRESS
Kehoe Law Firm, P.C.
2001 Market Street
Suite 2500
Philadelphia, PA 19103
2024 Securities Class Action Trends – Key Insights from NERA’s Latest Year in Review
Securities class action trends are dynamic, and the latest report from NERA Economic Consulting, “Recent Trends in Securities Class Action Litigation: 2024 Full-Year Review,” provides a comprehensive look at the evolving landscape of securities litigation.
With more than three decades of data and analysis behind them, the experts at NERA offer fresh insights into the state of securities class actions in 2024, including changes in filing, dismissal, and settlement trends.
Securities Class Action Trends Show A Stable Filing Environment
In 2024, the number of new federal securities class action suits filed remained consistent with the previous year, with 229 cases, mirroring the 229 filings recorded in 2023. This signals that, despite fluctuating market conditions, the filing rate for securities class actions has held steady in recent years.
One notable trend from the report is the concentration of filings within two key sectors: technology and healthcare.
These industries combined accounted for more than half of all securities class actions filed in 2024. This reflects the continued prominence of these sectors in the broader market. Additionally, the report highlights a significant geographical concentration, with 61% of cases filed within the Second and Ninth Circuits, which encompass key financial markets such as New York and California.
New Allegations Shaping Securities Class Action Trends in 2024
The nature of the claims brought forward in 2024’s securities class actions reveals some noteworthy shifts. Of the 229 cases filed, 41% involved allegations related to missed earnings guidance, while only 8% centered around merger-integration issues. This continues the trend of earnings guidance-related cases dominating the landscape.
Perhaps the most striking developments in 2024 were the significant increases in AI- and COVID-related claims. AI-related securities cases more than doubled, with 13 new lawsuits filed in 2024 compared to just a few in the previous year.
Similarly, COVID-related claims saw a 46% jump from 2023, with 19 cases filed. These numbers indicate that evolving market trends, particularly the explosive growth of AI and the lingering effects of the COVID-19 pandemic, are making their mark on the securities class action space.
On the other hand, the once-bustling arenas of cryptocurrency and SPAC (Special Purpose Acquisition Company) litigation have continued their decline. Only eight crypto-related cases and nine SPAC-related suits were filed in 2024, underscoring the fading intensity of legal action in these areas after their peak years.
A Resurgence in Case Resolutions
After a six-year decline, resolutions of securities class actions saw a 17% increase in 2024, with a total of 217 cases resolved. The breakdown of resolutions included 124 dismissals and 93 settlements. Notably, the rise in dismissals was the primary driver behind this increase, particularly cases involving Rule 10b-5, Section 11, and Section 12 claims.
This shift towards dismissals could signal a more challenging litigation environment for plaintiffs, as courts become more selective in the cases they allow to move forward. However, settlements continue to play a significant role in resolving these cases, with aggregate settlements totaling $3.8 billion in 2024. The largest 10 settlements accounted for about 60% of this total, further emphasizing the concentration of financial resolution in a small number of high-profile cases.
Investor Losses and Legal Fees
2024 also saw a sharp rise in investor losses, with the median investor loss reaching $1.76 billion—the highest recorded in the last decade. This reflects the ongoing volatility in the markets and the high stakes involved in these lawsuits.
In parallel, plaintiffs’ attorneys’ fees and expenses also saw a notable increase, totaling $1.06 billion in 2024, nearly $90 million more than in 2023. The growth in legal fees is a direct result of the complexity and scale of the cases being litigated, particularly those involving large-scale corporate disputes and high investor losses.
The Future of Securities Class Action Trends – Looking Ahead
NERA’s 2024 Full-Year Review provides a snapshot of the current state of securities class action litigation, offering valuable insights into the evolving trends in the industry.
As technology, healthcare, and other emerging sectors continue to dominate the market, we can expect the nature of securities litigation to evolve alongside these changes. The rise of AI-related and COVID-related claims will likely be a continuing theme, while sectors like cryptocurrency and SPACs might see less activity going forward.
For professionals in the field of securities litigation, these findings highlight the importance of staying ahead of the curve in terms of strategy and understanding the dynamics that drive filings and resolutions.
This KLF blog post is designed to present the key points from the NERA report in a way that’s digestible and engaging for readers.
Please click here to see the full NERA report.
Questions About Securities Class Actions?
Investors and shareholders who have questions about class action lawsuits are encouraged to send us a message or contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], [email protected].
About Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff–side class action law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm, P.C. have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
Kehoe Law Firm’s legal services are provided on a contingency-fee basis, meaning clients are not responsible for any fees or litigation expenses.
SEND US A MESSAGE
Contact Us
ADDRESS
Kehoe Law Firm, P.C.
2001 Market Street
Suite 2500
Philadelphia, PA 19103
Autodesk, Inc. – Breach of Fiduciary Duties Investigation – ADSK
Kehoe Law Firm, P.C. is investigating whether certain executive officers and directors of Autodesk, Inc. (“Autodesk” or the “Company”) (NASDAQ:ADSK) breached their fiduciary duties by failing to manage Autodesk in an acceptable manner and whether Autodesk and its shareholders were harmed as a result.
Key Issues of the Breach of Fiduciary Duties Investigation
On April 1, 2024, Autodesk announced that it was “. . . unable to file its Annual Report on Form 10-K for the year ended January 31, 2024 . . . within the prescribed time period, without unreasonable effort or expense.”
Further, the Company stated that “[a]fter the Company’s earnings release on February 29, 2024, information was brought to the attention of management, which promptly informed the Audit Committee . . . of the Board of Directors of the Company, that caused the Committee to commence an internal investigation with the assistance of outside counsel and advisors, regarding the Company’s free cash flow and non-GAAP operating margin practices.”
On April 16, 2024, Autodesk announced it would “. . . not file its Annual Report on Form 10-K for the year ended January 31, 2024 . . . within the 15-day extension period contemplated by Rule 12b-25(b) under the Securities Exchange Act of 1934, as amended, due to the ongoing investigation. Accordingly, the Company expects to receive a notice from The Nasdaq Stock Market . . . that it is not in compliance with the timely filing requirement for continued listing under Nasdaq Listing Rule 5250(c)(1).”
On April 25, 2024, Autodesk reported that “[o]n April 19, 2024, the Company received a notice . . . from The Nasdaq Stock Market LLC . . . notifying the Company that, because [Autodesk] is delinquent in filing its Form 10-K, the Company no longer complies with Nasdaq Listing Rule 5250(c)(1) . . ., which requires companies with securities listed on Nasdaq to timely file all required periodic reports with the SEC.”
On June 3, 2024, Autodesk announced that it had reassigned its Chief Financial Officer (“CFO”), after an internal accounting investigation around treatment of its free cash flow and operating margins.
Autodesk also “. . . disclosed its practice of incentivizing customers to adopt multiyear upfront billing arrangements. It has also acknowledged that discounted multiyear upfront contracts reduce revenue and lower billings in out years. Though prior to fiscal year 2024, the company did not quantify free cash flow attributable to multiyear upfront billings, it has noted the contribution of upfront collections to fluctuations in the company’s quarterly reported long-term deferred revenue.”
Investors of Autodesk Stock: Learn More About the Investigation and Your Legal Options
If you are an Autodesk investor and want to learn more about the investigation or discuss potential legal claims, please send us a message or contact Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], for a free, no-obligation legal evaluation.
About Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is a nationally recognized, plaintiff-side class action firm dedicated to protecting investors and consumers from fraud and misconduct. Our attorneys have served as Lead or Co-Lead Counsel in major securities cases, recovering over $10 billion for institutional and individual investors.
Our firm litigates securities fraud, fiduciary breaches, unfair mergers and acquisitions, and antitrust violations, while also representing whistleblowers and advocating for victims of data breaches, consumer fraud, vehicle and product defects, employment law violations, retirement plan mismanagement, and other corporate and business misconduct. With a results-driven approach, we pursue justice and substantial recoveries for those we represent.
Kehoe Law Firm’s class action legal services are provided on a contingency-fee basis, meaning clients are not responsible for any fees or litigation expenses.
SEND US A MESSAGE
Contact Us
ADDRESS
Kehoe Law Firm, P.C.
2001 Market Street
Suite 2500
Philadelphia, PA 19103
KLF’s Clients Appointed Co-Lead Plaintiffs in CVS Health Corporation Securities Class Action
On December 5, 2024, KLF’s clients, the Southeastern Pennsylvania Transportation Authority (“SEPTA”) and the City of Miami Firefighters’ and Police Officers’ Retirement Trust (“Miami”), along with another public pension fund, were appointed co-lead plaintiffs in the securities class action against CVS Health Corporation (“CVS”).
The class action lawsuit is pending in the United States District Court for the Southern District of New York before the Honorable Judge Margaret M. Garnett.
The lawsuit alleges that between February 9, 2022, and April 30, 2024, CVS made false and misleading statements regarding its efforts to reduce overall healthcare costs and its expectations for continued growth in Medicare and Commercial membership.
The lead plaintiffs, SEPTA and Miami, plan to file a consolidated amended complaint in the coming months.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) the forecasts CVS used to determine plan premiums were ineffective at accounting for medical cost trends and health care utilization patterns; (ii) as a result, CVS was likely to incur significant expenses to cover cost increases that were not accounted for in the Company’s forecasts and thus not covered by plan premiums; (iii) accordingly, CVS had overstated the profitability of its Health Care Benefits segment; (iv) contrary to Defendants’ assurances, the revenues generated from the Company’s other primary segments were insufficient to offset the negative financial impact of the increasing expenditures within the Health Care Benefits segment; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Questions About the CVS Securities Class Action Lawsuit?
CVS investors with questions about the class action lawsuit are encouraged to send us a message or contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], [email protected].
About Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff–side class action law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm, P.C. have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
Kehoe Law Firm’s legal services are provided on a contingency-fee basis, meaning clients are not responsible for any fees or litigation expenses.
SEND US A MESSAGE
Contact Us
ADDRESS
Kehoe Law Firm, P.C.
2001 Market Street
Suite 2500
Philadelphia, PA 19103