Mar 26, 2020 | Securities Class Action Archive
Class Action Lawsuit Filed Against AnaptysBio, Inc. On Behalf of Purchasers or Acquirers of ANAB Stock Between October 10, 2017 and November 7, 2019, Both Dates Inclusive – Kehoe Law Firm, P.C. Investigating Securities Claims on Behalf of AnaptysBio, Inc. Investors
Kehoe Law Firm, P.C. is making investors aware that a class action lawsuit was filed on March 25, 2020 in United States District Court, Southern District of California, against AnaptysBio, Inc. (“AnaptysBio” or the “Company”) (NasdaqGS: ANAB) on behalf of individuals or entities who purchased, or otherwise acquired, ANAB between October 10, 2017 and November 7, 2019, inclusive (the “Class Period”).
The securities class action was brought against AnaptysBio and certain of its current and former senior executives under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and SEC Rule 10b-5, promulgated thereunder.
On October 10, 2017, according to the complaint, AnaptysBio
. . . reported data from an interim analysis of its Phase 2a clinical trial of etokimab in atopic dermatitis. Specifically, the Company touted the ‘positive’ data as ‘provid[ing] a solid foundation for the continued development of [etokimab] across a number of atopic diseases.’ In addition, the Company described the drug’s efficacy as ‘very encourag[ing]’ and told investors that ‘we believe we can build on that with multidosing … in a Phase IIb study, we anticipate that we can get to even greater EASI scores.’
Throughout the Class Period, the Company touted the prospects of etokimab and the drug’s efficacy based on clinical trial data. In truth, however, the Company failed to disclose key information from the trials and used questionable analysis which made the trial results regarding etokimab’s efficacy and its prospects appear far better than they were. As a result of [the AnaptysBio] Defendants’ material misrepresentations and omissions, shares of AnaptysBio’s common stock traded at artificially inflated prices during the Class Period. [Emphasis added.]
The complaint alleges that AnaptysBio issued
. . . materially false and misleading and failed to disclose material adverse facts about the prospects of the Company’s lead drug asset. Specifically, Defendants willfully or recklessly made and/or caused the Company to make materially false and misleading statements to the investing public that failed to disclose important data from the Company’s Phase 2a trial in atopic dermatitis, including the timing and extent of patients’ use of topical corticosteroids as a rescue therapy during the study and whether any of the patients that utilized rescue therapy were classified as responders at a given time. As a result, Defendants’ positive statements about the efficacy and prospects of AnaptysBio’s lead drug asset in the treatment of atopic dermatitis were materially false and/or misleading and/or lacked a reasonable basis. [Emphasis added.]
AnaptysBio investors who purchased, or otherwise acquired, securities during the Class Period and suffered losses are encouraged to contact either Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], or John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], to discuss the class action lawsuit or potential legal claims.
Mar 25, 2020 | Consumer Protection, Employment & Technology Archive
Class Action Lawsuit Filed Against JPMorgan Chase Bank, N.A. For Allegedly Making Robocalls in Violation of The Telephone Consumer Protection Act
On March 24, 2020, a class action lawsuit was filed against “J.P. Morgan Chase Bank, N.A.” in United States District Court, Southern District of New York, for, allegedly, placing numerous robocalls to the Plaintiff in violation of the Telephone Consumer Protection Act.
According to the complaint, “[i]n or around September 2019, Plaintiff began receiving numerous calls to her . . . cellular telephone number from Chase seeking to recover a debt relating to . . . her deceased grandfather.” The Plaintiff, allegedly, was robocalled by Chase from telephone numbers (847) 488-2001, (888) 293-5321, and (847) 488-3078 without the Plaintiff’s express consent.
Do You Believe You Are a Victim of Illegal Robocalls, Text Messages, “Junk” Faxes or Telemarketing Sales Calls?
If you have received illegal robocalls, text messages, “junk” faxes or telemarketing sales calls, you may be able to recover at least $500 for each illegal call, text or fax you received and, possibly, as much as $1,500 for each illegal call, text message or facsimile that was made either willfully or knowingly in violation of the Telephone Consumer Protection Act.
To help evaluate your potential legal claims under the Telephone Consumer Protection Act, please complete KLF’s confidential Robocall Questionnaire or, if you prefer to speak with an attorney, please complete the form above on the right, e-mail [email protected] or contact Michael Yarnoff, Esq., [email protected], (215) 792-6676, Ext. 804, for a free, no-obligation evaluation of your potential legal rights.
Mar 25, 2020 | Consumer Protection, Employment & Technology Archive
Class Action Lawsuit Filed Against Business Capital Consultants Corp. For Alleged Violations of The Telephone Consumer Protection Act
Kehoe Law Firm, P.C. is making consumers aware that on March 24, 2020, a class action lawsuit was filed against Business Capital Consultants Corp. in United States District Court, Central District of California, for, allegedly, “knowingly, and/or willfully placed unsolicited automated text messages to Plaintiff’s cellular phone in violation of the Telephone Consumer Protection Act.”
According to the class action complaint, Business Capital Consultants Corp. sent the Plaintiff an unsolicited text message to the Plaintiff’s cell phone from short code 48782. The complaint contained the following image of the alleged unsolicited text message the Plaintiff received from Business Capital Consultants Corp.:
Do You Believe You Are a Victim of Illegal Robocalls, Text Messages, “Junk” Faxes or Telemarketing Sales Calls?
If you have received illegal robocalls, text messages, “junk” faxes or telemarketing sales calls, you may be able to recover at least $500 for each illegal call, text or fax you received and, possibly, as much as $1,500 for each illegal call, text message or facsimile that was made either willfully or knowingly in violation of the Telephone Consumer Protection Act.
To help evaluate your potential legal claims under the Telephone Consumer Protection Act, please complete KLF’s confidential Robocall Questionnaire or, if you prefer to speak with an attorney, please complete the form above on the right, e-mail [email protected] or contact Michael Yarnoff, Esq., [email protected], (215) 792-6676, Ext. 804, for a free, no-obligation evaluation of your potential legal rights.
Mar 25, 2020 | Blog, Consumer Protection
FTC Identifies Seven Coronavirus Scams That Target Businesses – Seven B2B Coronavirus Scams That Try to Exploit Companies’ Concerns About COVID-19
Kehoe Law Firm, P.C. is making consumers and businesses aware about seven Coronavirus scams that target businesses, as reported by the Federal Trade Commission. The FTC has identified the following B2B scams that attempt to exploit COVID-19 concerns:
“PUBLIC HEALTH” SCAMS
Fraudsters are sending messages that claim to be from the Centers for Disease Control and Prevention (“CDC”), World Health Organization (“WHO”), or other public health offices. They may ask for such things as Social Security Account Numbers or tax IDs. Other variations direct you to click on a link or download a document. The FTC advises to remind your staff not to respond to such messages, in addition to NOT downloading anything or clicking on links within unsolicited email. It’s the latest form of phishing aimed at stealing confidential data or installing malware on your network.
GOVERNMENT CHECK SCAMS
Regarding news stories about whether financial help for businesses might be available in the future, please remember that criminals read those headlines and use them to make their phony pitches sound more credible. If someone randomly calls or emails claiming there is money available from a government agency if you just make an up-front payment or provide some personal information, it’s phony. The FTC’s checks from the government blog post offers tips on spotting those scams.
BUSINESS EMAIL SCAMS
The FTC has warned companies about frauds perpetrated via business email. For example, in a CEO scam, an employee gets a message that appears to come from a company higher-up directing the person, for example, to wire money, transfer funds or send gift card codes. In reality, a con artist has spoofed the boss’ email address or phone number. Why is the FTC renewing the call for vigilance? The economic upheaval caused by the Coronavirus has led to a flurry of unusual financial transactions – expedited orders, cancelled deals, refunds, etc. That’s why an emergency request that would have raised eyebrows in the past might not set off the same alarms now. Compounding the problem is that teleworking employees cannot walk down the hall to investigate a questionable directive. Warn staff about these scams and give them a central in-house contact where they can verify requests they may receive.
I.T. SCAMS
An I.T. scam works like a CEO scam, but this time the call or message claims to come from a member of your technology staff asking for a password or directing the recipient to download software. These scams pose a particular problem now due to what cybercrime experts call social engineering: the dark art of manipulating human behavior to facilitate fraud. Your employees already may be distracted by changes to their routine and your tech support team is swamped. Taking advantage of this temporary “upside down-ness,” con artists may do a quick online search to glean a tidbit to really sell their story – for example, “I spoke with Fred, who said you were having a computer problem” or “The meeting has been shifted to our new teleconferencing platform. Here’s the link.” Your best defense is a workforce warned against this form of fraud.
SUPPLY SCAMS
With many businesses scrambling for supplies, it’s wise to pay attention to warnings about websites that mimic the look of well-known online retailers, which claim to have the essentials you need, but, in reality, they are fakes that take your “order,” grab your credit card number, and run. The safer strategy is to type in URLs you know to be genuine. And before taking a chance on an unfamiliar supplier, check them out with trusted industry colleagues.
ROBOCALL SCAMS
While working from home, employees are hearing a new crop of annoying – and illegal – robocalls. It’s no surprise that fraudsters who already flout the law would try to exploit people’s COVID concerns to make money. Some of these tele-phonies pitch bogus test kits and sanitation supplies. Others have businesses in their sights. Curious what these calls sound like? This recording targets “small business who may be affected by the Coronavirus,” warning them to “ensure your Google listing is correctly displaying. Otherwise customers may not find you online during this time.” We’ve seen scams like this before and the call definitely isn’t from Google. Remind your staff that the only right response to an illegal robocall trying to sell something is to hang up.
DATA SCAMS
With more people telecommuting, hackers are hoping companies will drop their online defenses, making it easier to infiltrate data-rich networks. We have tips to help your staff maintain security when working from home. Also, the National Institute of Standards and Technology (‘NIST”) has resources on making a safer transition to a remote workplace. According to the FTC, a good place to start in this regard is NIST’s updated Telework Cybersecurity page, as well as NIST’s infographic, Telework Security Overview & Tip Guide, their recent bulletin on Security for Enterprise Telework, Remote Access, and Bring Your Own Device (BYOD) Solutions,and their advice on Navigating the Conference Call Security Highway.
Source: Federal Trade Commission – FTC.gov
Mar 24, 2020 | Whistleblower
SEC Awards More Than $1.6 Million To One Whistleblower And More Than $570,000 To Two Other Whistleblowers
Kehoe Law Firm, P.C. is making individuals aware that on March 23, 2020, the SEC announced an award of more than $1.6 million to a whistleblower whose information tipped the agency to securities law violations and helped form part of the basis for charges brought in a successful enforcement action. In addition to the tip, the whistleblower provided helpful assistance early in the investigation, preserving SEC time and resources.
On March 24, 2020, the SEC announced awards totaling over $570,000 to two whistleblowers who provided significant information and assistance that helped the SEC bring multiple successful enforcement actions. The first whistleblower received an award of approximately $478,000 and the second whistleblower received an award of approximately $94,000.
The SEC has awarded approximately $396 million to 76 individuals since issuing its first award in 2012. All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators. No money has been taken or withheld from harmed investors to pay whistleblower awards. Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action. Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.
Source: SEC.gov
