May 27, 2020 | Securities Class Action Archive
Personalis Shareholders Who Have Suffered Losses Greater Than $100K Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating Personalis, Inc. (“Personalis” or the “Company”) (NASDAQ: PSNL) for potential federal securities law violations pursuant to the Company’s June 2019 initial public offering (“IPO”).
Personalis completed its IPO on June 20, 2019, offering shares at $17.00 and raising $140 million in gross proceeds. Four days after the IPO, Personalis stock was trading as high as $31.88 per share.
By April 27, 2020, however, Personalis closed at $10.31 per share, representing a significant decline from the Company’s IPO price and a decline of 67% from its high of $31.88 per share. On May 27, 2020, Personalis closed at $11.94 per share, down 4.10%.
Investors who purchased, or otherwise acquired, Personalis common stock and suffered losses greater than $50K are encouraged to contact Kehoe Law Firm, P.C., Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], to discuss the securities investigation or potential legal claims.
May 27, 2020 | Securities Class Action Archive
Pfenex Inc. Shareholders Who Have Suffered Losses Greater Than $50K Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of shareholders Pfenex Inc. (“Pfenex” or the “Company”) (NYSE: PFNX) to determine whether Pfenex and certain of the Company’s officers and/or directors committed securities fraud.
Pfenex, in an April 14, 2020 press release, stated that the FDA “ . . . informed Alvogen Malta Operations Ltd., the Company’s commercialization partner for PF708, via a General Advice letter that additional comparative use human factors (CUHF) data, specifically from Forteo® (teriparatide injection) experienced users, would be required before PF708 Therapeutic Equivalence (TE) could be determined.”
On this news, Pfenex stock dropped $2.49 per share, or 27.85%, to close at $6.45 per share on April 15, 2020.
Pfenex investors who purchased, or otherwise acquired, Pfenex common stock and suffered losses greater than $50K are encouraged to contact Kehoe Law Firm, P.C., John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], [email protected], to discuss the securities investigation or potential legal claims.
May 27, 2020 | Securities Class Action Archive
Kehoe Law Firm, P.C. Investigating Claims On Behalf of Investors Who Purchased, Or Otherwise Acquired, Sorrento Therapeutics Securities Between May 15, 2020 and May 22, 2020, Both Dates Inclusive, And Suffered Losses Greater Than $100K
Investors of Sorrento Therapeutics should be aware that on May 26, 2020, a class action lawsuit was filed in United States District Court, Southern District of California, on behalf of all investors who purchased, or otherwise acquired, the common stock of Sorrento Therapeutics, Inc. (“Sorrento” or the “Company”) between May 15, 2020 and May 22, 2020, both dates inclusive (the “Class Period”), seeking to recover damages caused by the Sorrento Defendants’ alleged violations of the federal securities laws and to pursue remedies under §§ 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
According to the class action complaint, “[d]uring the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts to investors. Specifically, Defendants mispresented and/or failed to disclose that: (i) the Company’s initial finding of ‘100% inhibition’ in an in vitro virus infection will not necessarily translate to to success or safety in vivo, or in person; (ii) the Company’s finding was not a ‘cure’ for COVID-19; and (ii) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.”
Investors who purchased, or otherwise acquired, Sorrento Therapeutics common stock during the Class Period and suffered losses greater than $100K are encouraged to contact Kehoe Law Firm, P.C., Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], to discuss the securities investigation or potential legal claims.
May 27, 2020 | Securities Class Action Archive
Kehoe Law Firm, P.C. Investigating Claims On Behalf of Investors Who Purchased, Or Otherwise Acquired, Colony Capital Securities Between August 9, 2019 and May 7, 2020, Both Dates Inclusive, And Suffered Losses Greater Than $100K
Colony Capital investors should be aware that on May 26, 2020, a class action lawsuit was filed in United States District Court, Central District of California, against Colony Capital, Inc. (“Colony Capital,” “Colony” or the “Company”) (NYSE: CLNY) and certain Company executives seeking to recover damages caused by the Colony Defendants’ alleged violations of federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The class action was brought on behalf of investors who purchased, or otherwise acquired, Colony Capital securities between August 9, 2019 and May 7, 2020, both dates inclusive (the “Class Period”).
According to the class action complaint:
Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Colony’s sale of its industrial real estate portfolio and the bifurcation of Colony Credit Real Estate’s portfolio were foreseeably likely to negatively impact Colony’s financial and operating results; (ii) certain of Colony’s remaining portfolio companies carried unsustainable levels of debt secured by hotels and healthcare-related properties and were thus at a significant risk of default; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On November 8, 2019, Colony announced its financial results for the third quarter of 2019. Among other results, the Company reported a GAAP net loss of $555 million, or $1.15 per share, which ‘notably included reductions of goodwill, real estate and provision for loan losses totaling $540.3 million . . . of which $387.0 million was attributable to the reduction of goodwill primarily as a result of the pending sale of the Company’s industrial investment management business and related real estate portfolio, and the decrease in management fees from Colony Credit Real Estate, Inc. resulting from impairments related to its portfolio bifurcation.’
On this news, Colony’s stock price fell $0.48 per share, or 8.76%, to close at $5.00 per share on November 8, 2019.
Then, on May 8, 2020, Colony issued a press release announcing its financial and operating results for the first quarter of 2020. In the press release, Colony reported that its portfolio companies had defaulted on $3.2 billion of debt secured by hotels and healthcare-related properties and that Colony had received a notice of acceleration covering $780 million of the defaulted debt.
On this news, Colony’s stock price fell $0.08 per share, or 3.81%, to close at $2.02 per share on May 8, 2020. [Emphasis added.]
Investors who purchased, or otherwise acquired, Colony Capital securities during the Class Period and suffered losses greater than $100K are encouraged to contact Kehoe Law Firm, P.C., Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], to discuss the securities investigation or potential legal claims.
May 22, 2020 | Securities Class Action Archive
Kehoe Law Firm, P.C. Investigating Potential Breaches of Fiduciary Duties by Officers And/Or Directors of Resideo Technologies, Inc.
Kehoe Law Firm, P.C. is investigating potential breaches of fiduciary duty claims involving certain officers and/or directors of Resideo Technologies, Inc. (“Resideo” or the “Company”) (NYSE: REZI).
The investigation involves, among other things, whether the Company’s officers and/or directors misled investors by issuing materially false and/or misleading statements regarding Resideo’s earnings estimates.
Investors of Resideo Technologies who have owned their stock shares continuously since at least October 2018 are encouraged to contact Kevin Cauley, Director, Business Development, (215) 792-6676, Ext. 802, [email protected], [email protected], to discuss the Resideo investigation or potential legal claims.
May 19, 2020 | Securities Class Action Archive
Kehoe Law Firm, P.C. Investigating Potential Breaches of Fiduciary Duties by Tupperware Officers And/Or Directors
Kehoe Law Firm, P.C. is investigating potential breaches of fiduciary duty claims involving certain officers and/or directors of Tupperware Brands Corporation (“Tupperware” or the “Company”) (NYSE: TUP)
The investigation involves whether Tupperware’s officers and/or directors breached fiduciary duties by failing, among other things, to disclose the true risk of further impairment of its Fuller Mexico business and whether Tupperware’s financial guidance was overstated.
Tupperware investors who have owned their stock shares continuously since January 2018 are encouraged to complete the form on the right, e-mail [email protected], or contact Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], to discuss the Tupperware investigation or potential legal claims.
