Nov 19, 2021 | Filed Securities Cases
Kehoe Law Firm, P.C. is investigating whether Alfi, Inc. (“Alfi” or the “Company”) (NASDAQ: ALF) violated federal securities laws or engaged in other unlawful business practices.
Alfi investors who purchased, or otherwise acquired, Alfi common stock or warrants pursuant and/or traceable to the Offering Documents issued in connection with the Company’s initial public offering (“IPO”) conducted on or about May 4, 2021 and/or Alfi securities between May 4, 2021 and November 15, 2021, both dates inclusive (the “Class Period”), are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire.
To contact Kehoe Law Firm, P.C. about joining the class action, please click “Join The Securities Class Action.”
To view a copy of the complaint, please click “Alfi Complaint.”
According to the Complaint filed in United States District Court, Southern District of Florida, the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation.
Throughout the Class Period, according to the complaint, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that (i) Alfi maintained deficient disclosure controls and procedures and internal control over financial reporting; (ii) as a result, the Company and its employees could and did engage in corporate transactions and other matters without sufficient and appropriate consultation with or approval by the Company’s Board of Directors; (iii) all the foregoing increased the risk of internal and regulatory investigations into the Company and its employees; (iv) all the foregoing, once revealed, was likely to have a material negative impact on the Company’s reputation, financial condition, and ability to timely file periodic reports with the SEC; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Additionally, in an SEC Form 8-K, Alfi reported that “[o]n October 22, 2021, the Board of Directors . . . of Alfi . . . placed each of Paul Pereira, the Company’s President and Chief Executive Officer, Dennis McIntosh, the Company’s Chief Financial Officer and Treasurer, and Charles Pereira, the Company’s Chief Technology Officer, on paid administrative leave and authorized an independent internal investigation regarding certain corporate transactions and other matters.” Alfi also reported that “[o]n October 28, 2021, Mr. C. Pereira’s employment with the Company was terminated.”
On this news, shares of Alfi dropped, thereby injuring investors.
ALFI INVESTORS THAT ACQUIRED THE COMPANY’S SECURITIES PURSUANT TO AND/OR TRACEABLE TO THE IPO OR DURING THE CLASS PERIOD ARE ENCOURAGED TO CONTACT KEHOE LAW FIRM, P.C. BY CLICKING JOIN THE SECURITIES CLASS ACTION, COMPLETING KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR BY CONTACTING EITHER JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], OR MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE ALFI SECURITIES CLASS ACTION INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Nov 4, 2021 | Filed Securities Cases
Investors Who Acquired iQIYI Securities Between March 22, 2021 And March 29, 2021 Are Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of shareholders of iQIYI, Inc. (“iQIYI” or the “Company”) (NASDAQ: IQ).
On December 2, 2021, a class action lawsuit was filed in United States District Court, Southern District of New York, against Goldman Sachs Group Inc. and Morgan Stanley on behalf of all those investors who purchased, or otherwise acquired, IQIYI shares contemporaneously with Defendants’ alleged unlawful trades from March 22, 2021 through and including March 29, 2021 (the “Class Period”).
To view a copy of the Complaint, please click “iQIYI Complaint.”
To contact Kehoe Law Firm, P.C. about joining the class action lawsuit, please click “Join The Securities Class Action.”
The securities class action investigation concerns the trading by Goldman Sachs and Morgan Stanley in late March 2021 and whether those investment banks traded on material, non-public information by selling large amounts of iQIYI stock based on information obtained through their relationship with Archegos Capital Management. The investigation also focuses on whether both banks avoided billions of dollars of losses by selling before the information was publicly available.
Shares of iQIYI stock fell over 40% during the week of March 22, 2021 to March 29, 2021, thereby injuring investors.
IQIYI INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, THE COMPANY’S SECURITIES BETWEEN MARCH 22, 2021 AND MARCH 29, 2021 WHO WISH TO JOIN THE SECURITIES CLASS ACTION OR DISCUSS KEHOE LAW FIRM’S SECURITIES INVESTIGATION ARE ENCOURAGED TO COMPLETE EITHER THE SECURITIES CLASS ACTION QUESTIONNAIRE OR JOIN THE SECURITIES CLASS ACTION FORM.
IQIYI INVESTORS ALSO ARE ENCOURAGED TO CONTACT EITHER JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], OR MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected] TO DISCUSS THE CLASS ACTION INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Nov 3, 2021 | Filed Securities Cases
Investors Who Acquired ViacomCBS Securities Between March 22, 2021 And March 29, 2021 Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of shareholders of ViacomCBS Inc. (“ViacomCBS” or the “Company”) (NASDAQ: VIAC; NASDAQ: VIACA).
On October 29, 2021, a class action lawsuit was filed against Defendants Goldman Sachs Group Inc. and Morgan Stanley (collectively, the “Defendants”) in United States District Court, Southern District of New York, based on their alleged, unlawful use of material, non-public information.
According to the class action complaint, the lawsuit arose “. . . from the unlawful use of material non-public information by Defendants Goldman Sachs and Morgan Stanley, who collectively avoided billions in losses by selling shares of ViacomCBS . . . to Plaintiff and other unsuspecting and unwitting public shareholders, after confidential[ly] learning that Archegos Capital Management (‘Archegos’), a family office with $10 billion under management, failed (or was likely to fail) to meet a margin call, requiring it to liquidate its position in the Company.”
The Defendants, according to the complaint, “. . . sold a large number of ViacomCBS shares during the week of March 22, 2021, while in possession of material, non-public information. According to subsequent media reports, Defendants unloaded large block trades consisting of shares of Archegos’ doomed bets, including billions worth of ViacomCBS securities, late Thursday, March 25, 2021, before the Archegos story reached the public, sending ViacomCBS’s stock into a complete tailspin . . ..”
VIACOMCBS INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, THE COMPANY’S SECURITIES BETWEEN MARCH 22, 2021 AND MARCH 29, 2021 WHO WISH TO DISCUSS KEHOE LAW FIRM’S SECURITIES CLASS ACTION INVESTIGATION OR HAVE QUESTIONS ABOUT POTENTIAL LEGAL CLAIMS ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT EITHER JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], OR MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected].
Oct 28, 2021 | Filed Securities Cases
HÖEGH LNG PARTNERS INVESTORS WHO ACQUIRED THE COMPANY’S SECURITIES BETWEEN AUGUST 22, 2019 AND JULY 27, 2021 (“CLASS PERIOD”) ARE ENCOURAGED TO CONTACT KEHOE LAW FIRM, P.C.
Kehoe Law Firm, P.C. is investigating whether Höegh LNG Partners LP (“Höegh” or the “Company”) (NYSE: HMLP) violated federal securities laws.
INVESTORS OF HÖEGH LNG PARTNERS LP WHO PURCHASED, OR OTHERWISE ACQUIRED, THE PUBLICLY-TRADED SECURITIES OF HÖEGH BETWEEN AUGUST 22, 2019 AND JULY 27, 2021, BOTH DATES INCLUSIVE (THE “CLASS PERIOD”), AND SUFFERED LOSSES ARE ENCOURAGED TO CONTACT KEHOE LAW FIRM, P.C. TO DISCUSS THE CLASS ACTION INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
On October 27, 2021, a class action lawsuit was filed in United States District Court against Höegh on behalf of investors to recover compensable damages caused by the Höegh Defendants’ alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
On July 27, 2021, Höegh “. . . announced that its Board of Directors . . . reduced [Höegh’s] quarterly cash distribution to $0.01 per common unit, down from a distribution of $0.44 per common unit in the first quarter of 2021, commencing with the distribution for the second quarter of 2021 payable on August 13, 2021 to common unitholders of record as of the close of business on August 6, 2021.”
The Company stated that it “. . . needs to conserve its internally generated cash flows to resolve issues related to the ongoing refinancing of the PGN FSRU Lampung credit facility as described below. [Höegh] thereafter expects to use its internally generated cash flow to reduce debt levels and strengthen its balance sheet.”
Höegh also reported that it “. . . received notice from Höegh LNG Holdings Ltd that the revolving credit line of $85 million will not be extended when it matures on January 1, 2023, and that Höegh LNG Holdings Ltd will have very limited capacity to extend any additional advances to [Höegh] beyond what is currently drawn under the facility. In addition, following the consummation of an amalgamation by Höegh LNG Holdings Ltd which closed on May 4, 2021, some provisions of the omnibus agreement entered into in connection with the IPO, terminated in accordance with their terms. With these recent changes, [Höegh’s] liquidity and financial flexibility will be reduced. In light of these factors, as well as current conditions in the FSRU market, which may heighten re-contracting risk, the Board of Directors believes that [Höegh] should use its internally generated cash flow to reduce debt levels and strengthen its balance sheet.” [Emphasis added.]
On this news, Höegh’s stock price dropped $11.57 per share, or approximately 65%, thereby injuring investors.
HÖEGH LNG PARTNERS LP WHO PURCHASED, OR OTHERWISE ACQUIRED, THE COMPANY’S SECURITIES DURING THE CLASS PERIOD AND SUFFERED LOSSES ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT EITHER JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], OR MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected].
Oct 20, 2021 | Filed Securities Cases
Purchasers Of Gaotu Techedu Inc. Securities Between March 22, 2021 And March 29, 2021 Are Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating whether Goldman Sachs Group Inc. (“Goldman Sachs”) and Morgan Stanley (“Morgan Stanley”) violated federal securities laws.
On October 20, 2021, a class action lawsuit was filed against Goldman Sachs and Morgan Stanley in United States District Court, Southern District of New York, based, according to the complaint, on the alleged, unlawful use of material non-public information by Defendants Goldman Sachs and Morgan Stanley.
According to the class action complaint, “Defendants Goldman Sachs and Morgan Stanley avoided billions in losses by selling shares of Gaotu Techedu Inc., formerly known as GSX Techedu Inc. (‘Gaotu’ or the ‘Company’) [NYSE: GOTU] . . . to the Plaintiff and other unsuspecting and unwitting shareholders, after [confidentially] learning that Archegos Capital Management (‘Archegos’), a family office with $10 billion under management, failed (or was likely to fail) to meet a margin call, requiring it to fully liquidate its position in [Gaotu].” [Emphasis in original and supplied.]
The class action complaint alleges that the Goldman Sachs and Morgan Stanley “. . . Defendants sold a large chunk of Gaotu shares during the week of March 22, 2021 while in possession of material, non-public information. According to subsequent media reports, the Defendants unloaded large block trades consisting of shares of Archegos’ doomed bets, including billions worth of Gaotu securities, late Thursday, March 25, 2021, before the Archegos story reached the public, sending Gaotu’s stock into a complete tailspin . . ..”
GAOTU TECHEDU INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, THE COMPANY’S SHARES BETWEEN MARCH 22, 2021 AND MARCH 29, 2021 (THE “CLASS PERIOD”) WHO WISH TO DISCUSS KEHOE LAW FIRM’S SECURITIES CLASS ACTION INVESTIGATION OR HAVE QUESTIONS ABOUT POTENTIAL LEGAL CLAIMS ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT EITHER JOHN KEHOE, ESQ., (215) 792-6676, EXT. 801, [email protected], OR MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected].
Oct 18, 2021 | Filed Securities Cases
Purchasers Of Tencent Music Entertainment Group Securities Between March 22, 2021 And March 29, 2021 Are Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating whether Tencent Music Entertainment Group (“Tencent Music” or the “Company”) (NYSE: TME) violated federal securities laws.
TENCENT MUSIC ENTERTAINMENT GROUP INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, THE COMPANY’S SECURITIES BETWEEN MARCH 22, 2021 AND MARCH 29, 2021 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE.
INVESTORS WHO WISH TO DISCUSS KEHOE LAW FIRM’S SECURITIES CLASS ACTION INVESTIGATION OR HAVE QUESTIONS ABOUT POTENTIAL LEGAL CLAIMS ARE ALSO ENCOURAGED TO CONTACT EITHER JOHN KEHOE, ESQ., (215) 792-6676, Ext. 801, [email protected], OR MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected].
