Oct 5, 2017 | Securities Class Action Archive
Shopify Inc. Securities Investigation
Kehoe Law Firm, P.C. is investigating claims on behalf of investors of Shopify Inc. (NYSE:SHOP) regarding possible violations of federal securities laws or other unlawful business practices. Investors who purchased shares of Shopify prior to October 4, 2017 may be affected.
Shopify’s User Growth Questioned & Shopify Stock Drop
On October 4, 2017, Citron Research published a report questioning the sustainability of Shopify’s user growth and asserting that the company’s marketing practices violate Federal Trade Commission (FTC) rules.
The report specifically references marketing material and promotions distributed by Shopify that called it “the online store for someday millionaires” and claim that members can quit their jobs and become millionaires. The Citron report compared Shopify’s business practices to those of Herbalife, which recently paid $200 million to settle Federal Trade Commission charges and agreed to an order “prohibit[ing] Herbalife from misrepresenting distributors’ potential or likely earnings.”
Following this news, the share price of Shopify plummeted more than 11.5% to close at $103.30 on October 4, 2017.
Have You Purchased or Acquired Shopify Shares?
If you purchased or acquired Shopify common stock or other securities and would like to speak privately with a securities attorney to learn more about the investigation and your potential legal rights, please fill out the form to the right or contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected]; Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected]; or send an e-mail to [email protected].
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors and consumers from corporate fraud, negligence, and other wrongdoing. Driven by a strong and principled sense of social responsibility and obtaining justice for the aggrieved, Kehoe Law Firm, P.C. represents plaintiffs seeking to recover investment losses resulting from securities fraud, breaches of fiduciary duty, corporate wrongdoing or malfeasance, those harmed by anticompetitive practices, and consumers victimized by fraud, false claims, deception or data breaches. Together, the partners of Kehoe Law Firm, P.C. have spent more than 30 years prosecuting precedent-setting securities and financial fraud cases in federal and state courts on behalf of institutional and individual clients.
Sep 14, 2017 | Securities Class Action Archive
Health Insurance Innovations (NASDAQ: HIIQ)
Kehoe Law Firm’s securities fraud attorneys are investigating potential claims on behalf of investors of Health Insurance Innovations (NASDAQ: HIIQ) involving possible securities law violations. A class action lawsuit was filed on September 11, 2017 on behalf of investors who purchased shares of HIIQ between August 2, 2017 and September 11, 2017.
HIIQ Share Price Falls 21.9%
On September 11, 2017, Seeking Alpha published an article charging that Health Insurance Innovations was rejected for a key insurance license in Florida because a regulator uncovered undisclosed legal actions against HIIQ insiders. The article also alleged that HIIQ privately warned the Florida regulator of a potentially disastrous “domino effect” spreading to other states, which could cause additional licensure losses. Following this news, shares of HIIQ fell $6.55 per share, or 21.9%, to close at $23.35 per share, causing significant harm to HIIQ investors.
The complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that:
- HIIQ’s application for a third-party insurance administrator’s license with the Florida Office of Insurance Regulation was denied due in part to material errors and omissions
- the Florida Office of Insurance Regulation’s rejection of HIIQ’s application for a third-party insurance administrator’s license could result in its losing licenses in the other states
- as a result, HIIQ’s public statements were materially false and misleading at all relevant times
Health Insurance Innovations Stock Losses?
If you purchased or otherwise acquired shares of Health Insurance Innovations and would like to speak privately with a securities attorney to learn more about the investigation and your potential legal rights, please fill out the form to the right or contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected]; Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected]; or send an e-mail to [email protected].
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors and consumers from corporate fraud, negligence, and other wrongdoing. Driven by a strong and principled sense of social responsibility and obtaining justice for the aggrieved, Kehoe Law Firm, P.C. represents plaintiffs seeking to recover investment losses resulting from securities fraud, breaches of fiduciary duty, corporate wrongdoing or malfeasance, those harmed by anticompetitive practices, and consumers victimized by fraud, false claims, deception or data breaches. Together, the partners of Kehoe Law Firm, P.C. have spent more than 30 years prosecuting precedent-setting securities and financial fraud cases in federal and state courts on behalf of institutional and individual clients.
Sep 1, 2017 | Securities Class Action Archive
SteadyMed (NASDAQ: STDY) – Securities Class Action Investigation
Securities attorneys with Kehoe Law Firm, P.C. are investigating claims on behalf of investors of SteadyMed Ltd. (NASDAQ: STDY) regarding possible violations of federal securities laws following the FDA’s refusal to review the company’s new drug application for Trevyent.
On August 31, 2017, SteadyMed announced that it had received a Refusal to File letter from the FDA regarding the SteadyMed’s New Drug Application for Trevyent, a treatment for pulmonary arterial hypertension.
Specifically, the FDA determined, based on a preliminary review of the New Drug Application, that it was not complete enough to permit a substantive review. According to SteadyMed, the FDA requested additional information on certain device specifications and performance testing as well as additional design verification and validation testing on the final Trevyent product.
Following this news, SteadyMed’s share price plummeted by more than 44% in intraday trading, to ultimately close down more than 35% at $3.80 on August 31, 2017.
According to SteadyMed’s August 31, 2017 press release, SteadyMed
. . . a specialty pharmaceutical company focused on the development of drug product candidates to treat orphan and high-value diseases with unmet parenteral delivery needs . . . announced receipt of a Refusal to File letter from the U.S. Food and Drug Administration (FDA) relating to its New Drug Application (NDA) for Trevyent® for the treatment of Pulmonary Arterial Hypertension (PAH).
Based on a preliminary review of the NDA, which was submitted in June 2017, the FDA determined that the application is not sufficiently complete to permit a substantive review. FDA has requested further information on certain device specifications and performance testing and has requested additional design verification and validation testing on the final, to-be-marketed Trevyent product. Within the next 30 days, the Company will request a Type A meeting with the FDA to gain further clarification on the additional information required for resubmission and acceptance of the NDA. The Company will provide further guidance after the anticipated meeting with FDA.
Have You Purchased or Acquired SteadyMed Shares?
If you purchased or acquired SteadyMed common stock or other securities and would like to speak privately with a securities attorney to learn more about the investigation and your potential legal rights, please fill out the form to the right or contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected]; Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected]; or send an e-mail to [email protected].
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors and consumers from corporate fraud, negligence, and other wrongdoing. Driven by a strong and principled sense of social responsibility and obtaining justice for the aggrieved, Kehoe Law Firm, P.C. represents plaintiffs seeking to recover investment losses resulting from securities fraud, breaches of fiduciary duty, corporate wrongdoing or malfeasance, those harmed by anticompetitive practices, and consumers victimized by fraud, false claims, deception or data breaches. Together, the partners of Kehoe Law Firm, P.C. have spent more than 30 years prosecuting precedent-setting securities and financial fraud cases in federal and state courts on behalf of institutional and individual clients.
Aug 11, 2017 | Securities Class Action Archive
Dentsply Sirona Inc. (NASDAQ: XRAY) – Securities Fraud Claims on Behalf of Dentsply Sirona Inc. Investors
Securities attorneys with Kehoe Law Firm, P.C. are investigating potential securities fraud class action claims on behalf of investors in Dentsply Sirona Inc. (“Dentsply”) stock concerning whether Dentsply and certain of its officers and/or directors may have issued materially misleading statements or engaged in other unlawful business practices in violation of federal or state securities laws.
Dentsply Reports 2Q 2017 Earnings Below Expectations & Discloses SEC Investigation
On August 9, 2017, in a quarterly report filed with the U.S. Securities and Exchange Commission (“SEC”), Dentsply reported second quarter 2017 earnings that fell below expectations and disclosed that the “SEC’s Division of Enforcement has asked the Company to provide documents and information concerning the Company’s accounting and disclosures, including its accounting and disclosures relating to transactions with a significant distributor of the Company.”
Dentsply also announced that it is unable to predict the ultimate outcome of this matter, or whether it will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.
XRAY 10-Q Filing Available by Clicking Here
On this news, Dentsply’s stock price fell sharply, $5.18 per share, or 8.44%, to close at $56.23 per share on August 9, 2017, on unusually heavy trading volume.
Have You Purchased or Acquired Dentsply Shares?
If you purchased or acquired Dentsply (NASDAQ: XRAY) common stock or other securities and would like to speak privately with a securities attorney to learn more about the investigation and your potential legal rights, please fill out the form to the right or contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected]; Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected]; or send an e-mail to [email protected].
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors and consumers from corporate fraud, negligence, and other wrongdoing. Driven by a strong and principled sense of social responsibility and obtaining justice for the aggrieved, Kehoe Law Firm, P.C. represents plaintiffs seeking to recover investment losses resulting from securities fraud, breaches of fiduciary duty, corporate wrongdoing or malfeasance, those harmed by anticompetitive practices, and consumers victimized by fraud, false claims, deception or data breaches. Together, the partners of Kehoe Law Firm, P.C. have spent more than 30 years prosecuting precedent-setting securities and financial fraud cases in federal and state courts on behalf of institutional and individual clients.
Aug 10, 2017 | Securities Class Action Archive
Dr. Reddy’s Securities Fraud Investigation on Behalf of Dr. Reddy’s Laboratories Ltd. Investors
Securities attorneys with Kehoe Law Firm, P.C. are investigating potential securities fraud class action claims on behalf of investors in Dr. Reddy’s Laboratories Ltd. (“Dr. Reddy’s” or “RDY”) (NYSE: RDY) American Depositary Shares (“ADRs”) concerning whether RDY and certain of its officers and/or directors may have issued materially misleading statements or engaged in other unlawful business practices in violation of federal or state securities laws.
Food and Drug Administration Issues Warning Letter in 2015
On November 6, 2015, Dr. Reddy’s announced that it had received a warning letter issued by the U.S. Food and Drug Administration concerning inadequate quality control standards at three of Dr. Reddy’s manufacturing plants in India. Following this news, RDY’s share price fell $11.75 per share, or more than 18%, to close at $53.50 on November 6, 2015.
German Regulator Denies a “Good Manufacturing Practices” Nod to Dr. Reddy
On August 10, 2017, Dr. Reddy’s disclosed that:
“betapharm Arzneimittel GmbH, Germany (our wholly-owned subsidiary) received a communication from the Regulatory Authority of Germany (Regierung von Oberbayern) last night, that the GMP compliance certificate in respect of the Company’s Formulations Manufacturing Unit 2 plant in Bachupally, Hyderabad is not renewed consequent to the recent inspection of the plant. Pending revocation of the non-compliance notification, the plant will not be able to make any further despatch to the European Union until the next inspection, to be initiated by an invitation from betapharm.”
On this news, Dr. Reddy’s American Depositary Shares fell sharply during intraday trading on August 10, 2017, dropping as much as $2.03 per share, or over 6%, damaging investors.
Have You Purchased or Acquired Dr. Reddy Stock?
If you purchased or acquired RDY common stock or other securities and would like to speak privately with a securities attorney to learn more about the investigation and your potential legal rights, please fill out the form to the right or contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected]; Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected]; or send an e-mail to [email protected].
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors and consumers from corporate fraud, negligence, and other wrongdoing. Driven by a strong and principled sense of social responsibility and obtaining justice for the aggrieved, Kehoe Law Firm, P.C. represents plaintiffs seeking to recover investment losses resulting from securities fraud, breaches of fiduciary duty, corporate wrongdoing or malfeasance, those harmed by anticompetitive practices, and consumers victimized by fraud, false claims, deception or data breaches. Together, the partners of Kehoe Law Firm, P.C. have spent more than 30 years prosecuting precedent-setting securities and financial fraud cases in federal and state courts on behalf of institutional and individual clients.
Aug 10, 2017 | Securities Class Action Archive
Maiden Holdings, Ltd. (NASDAQ GS: MHLD) Securities Investigation on Behalf of Maiden Holdings, Ltd. Investors
Kehoe Law Firm, P.C. securities attorneys are investigating potential securities fraud class action lawsuit claims on behalf of investors in Maiden Holdings, Ltd. (NASDAQ GS: MHLD) common stock or other securities in connection with whether MHLD issued materially misleading information to the investing public.
Maiden Holdings, Ltd. Announces $39.7 Million Net Adverse Development for the Six Months Ended June 30, 2017
On May 10, 2017, MHLD disclosed a net adverse development for its AmTrust Reinsurance segment of $10.3 million, which it attributed to conservative methodology, downplaying any concerns. On August 9, 2017, MHLD disclosed another net adverse development of $29.5 million. For the AmTrust Reinsurance segment, MHLD reported a net adverse development of $29,426 and $39,745 for the three and six months ended June 30, 2017, respectively, reportedly coming largely from non-program casualty, where elevated loss activity had been observed.
On this news, Maiden’s share price fell $2.83, or 12.78%, to close at $7.73 on August 9, 2017.
Have You Purchased or Acquired Maiden Holdings, Ltd. Shares?
If you purchased or acquired MHLD common stock or other securities and would like to speak privately with a securities attorney to learn more about the investigation and your potential legal rights, please fill out the form to the right or contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected]; Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected]; or send an e-mail to [email protected].
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors and consumers from corporate fraud, negligence, and other wrongdoing. Driven by a strong and principled sense of social responsibility and obtaining justice for the aggrieved, Kehoe Law Firm, P.C. represents plaintiffs seeking to recover investment losses resulting from securities fraud, breaches of fiduciary duty, corporate wrongdoing or malfeasance, those harmed by anticompetitive practices, and consumers victimized by fraud, false claims, deception or data breaches. Together, the partners of Kehoe Law Firm, P.C. have spent more than 30 years prosecuting precedent-setting securities and financial fraud cases in federal and state courts on behalf of institutional and individual clients.
