Articles Posted in Class action

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Trivago N.V.Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Trivago N.V. (NASDAQ: TRVG) in connection to alleged violations of securities laws by TRVG. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Trivago N.V. between December 13, 2016 and October 26, 2017.

The class action complaint specifically alleges that during the period in question, TRVG might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, namely: that the company participated in misleading sales practices; that were the company’s practices revealed, it would likely be subjected to increased scrutiny from regulatory authorities; and that consequently the company’s statements to the public during the relevant period were false and misleading. The complaint alleges that when true facts came to light, investors suffered losses.

According to the company’s website, Trivago N.V. is “a global hotel search platform… focused on reshaping the way travelers search for and compare hotels.” Rolf Schrömgens is Chief Executive Officer; Axel Hefer is Chief Financial Officer; Malte Siewert is Chief Commercial Officer; Petter Vinnemeier is Chief Technology Officer; Andrej Lehnert is Chief Marketing Officer; and Johannes Thomas is Chief Revenue Officer. The company trades on the Nasdaq exchange under the call sign TRVG.

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XBiotech Inc.Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in XBiotech Inc. (NASDAQ: XBIT) in connection to alleged violations of securities laws by XBIT. Fitapelli Kurta is interested in speaking to investors who have complaints regarding investments made in XBiotech Inc. between April 15, 2015 and April 20, 2015.

The class action complaint specifically alleges that during the period in question, XBIT might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, chiefly: that there was a smaller number of per-protocol patients able to participate in the Phase III Study’s primary endpoint evaluation; that data for this study’s 72 subjects had been compromised; that the company failed to properly sample subjects to account for loss of data; that as a result of these failures, the study would be less able to demonstrate its proposed results; and that consequently the company’s statements to the public during the relevant period, including those about the study and the development of its product Xilonix, were false and misleading. The complaint alleges that when true facts emerged, investors suffered losses.

According to the company’s website, XBiotech Inc. is a “global biosciences company dedicated to pioneering the discovery, development and commercialization of therapeutic antibodies based on its True Human™ proprietary technology.” It uses antibodies derived wholly from humans in the development of its treatments. Its current product pipeline, according to its website, includes therapies “to exceed the standards of care in oncology, inflammatory conditions and infectious diseases.” The company trades on the Nasdaq exchange under the symbol XBIT.

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Skechers U.S.A.Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Skechers U.S.A., Inc. (NYSE: SKX) in connection to alleged violations of securities laws by SKX. Fitapelli Kurta is interested in speaking to investors who have complaints regarding investments made in Skechers U.S.A., Inc. between April 23, 2015 and October 22, 2015.

The class action complaint specifically alleges that during the period in question, SKX might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, namely: that the company’s wholesale customers received the fall 2015 inventory early, resulting in the delay and/or cancellation of orders that were scheduled to be delivered in the second half of 2015; that consequently the company’s growth rate for domestic wholesale operations was unsustainable; and that consequently the company’s statements to the public during the relevant period were false and misleading. The complaint alleges that when true details emerged, investors suffered losses.

According to the company’s website, Skechers U.S.A., Inc. “designs, develops and markets more than 3,000 styles for men, women and children.” It has two separate footwear styles, lifestyle and performance footwear. It also sells branded apparel, toys, bags, eyewear and other products through licensing agreements. It sells its products in department stores, specialty stores, independent retailers, and over 2,300 Skechers retailers.

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Antares PharmaPublicly available records indicate that a class action lawsuit has been filed on behalf of investors in Antares Pharma, Inc. (NASDAQ: ATRS) in connection to alleged violations of securities laws by ATRS. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Antares Pharma, Inc. between December 21, 2016 and October 12, 2017.

The class action complaint specifically alleges that during the period in question, ATRS might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, chiefly: that the company provided incomplete data regarding its new drug application for Xyosted to the Food and Drug Administration; that consequently the company inflated Xyosted’s approval prospects; and that consequently the company’s statements to the public during the relevant period were false and misleading. Antares received notice from the FDA on October 11, 2017 that the FDA had “identified deficiencies that preclude the continuation of the discussion of labeling and post marketing requirements/commitments” with respect to Xyosted. When Antares announced this news post-market on October 12, its share price fell 37.8%, closing at $2.32 on October 13. The company announced soon thereafter, on October 20, 2017, that it had received a letter from the FDA notifying it that Xyosted could not be approved in its current form because of the possibility it “could cause a clinically meaningful increase in blood pressure,” as well as other issues “regarding the occurrence of depression and suicidality.”

According to the company’s website, Antares Pharma, Inc. is “a revenue-generating, product focused, specialty pharmaceutical company that has developed three proprietary platforms, two of which now include FDA approved products.” The company’s corporate offices are located in Ewing, New Jersey, and its Parenteral Products Division is located in Minneapolis, Minnesota. Its products include Vibex, the “disposable pressure-assisted auto injectors,” a “reusable needle-free injector” known as Vision, and other “disposal multi-use pen injectors.” It trades on the Nasdaq exchange under the symbol ATRS.

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Teva Pharmaceutical IndustriesPublicly available records indicate that a class action lawsuit has been filed on behalf of investors in Teva Pharmaceutical Industries (NYSE:TEVA) in connection to alleged violations of securities laws by TEVA. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Teva Pharmaceutical Industries between November 15, 2016 and August 2, 2017.

The class action complaint specifically alleges that during the period in question, TEVA might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, chiefly: that the company’s Unites States-based generics operations suffered performance problems, causing the company to record a goodwill impairment charge in connection to its acquisition of Actavis Generics, factors that contributed to the company’s dividend being reduced by 75%. The complaint alleges that when true details came to light, investors suffered losses.

According to the company’s website, Teva Pharmaceutical Industries is a pharmaceutical company “committed to increasing access to high-quality healthcare for people across the globe, at every stage of life.” The company’s description continues: “We do this by developing, producing and marketing affordable generic drugs as well as innovative and specialty pharmaceuticals and active pharmaceutical ingredients… Our dedication to quality in everything we do is uncompromising, and covers every stage of the development, production and marketing of our medicines: from the supply of materials through manufacturing and approval by the strictest authorities in the world. Our state-of-the-art manufacturing facilities feature the most advanced testing equipment to guarantee the quality of our products. Equipment is tested and certified, and every manufacturing process is validated. All supplier procedures are strictly supervised to ensure that only the highest grade materials are used in our products.”

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Top ShipsPublicly available records indicate that a class action lawsuit has been filed on behalf of investors in Top Ships (NASDAQ:TOPS) in connection to alleged violations of securities laws by TOPS. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Top Ships between January 17, 2017 and August 22, 2017.

The class action complaint specifically alleges that during the period in question, TOPS might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, namely: that the company’s chief executive officer, Evangelos Pistiolis, caused the company to participate in manipulative share issuance and sales transactions with another company, Kalani Investments Limited, in which Top Ships sold Kalani Investments, at a substantial discount compared to market prices, common shares and securities convertible into common shares, and filed registration statements such that Kalani Investments would be able to resell said shares into the market. When TOPS declined in value as a result of Kalani’s sales, TOPS would engage in a reverse split of the stock, that is, it reduced the number of traded shares, merging outstanding shares into single units, effectively increasing the price of TOPS; at this point, Top Ships would begin the process anew by selling shares to Kalani. The complaint alleges that when TOPS was participating in these activities, the company did not disclose to the public the real purpose of the transactions and reverse splits—that is, to fund transactions that benefited the CEO and other companies and individuals associated with Top Ships. The complaint also alleges that when true facts came to light, investors suffered losses.

According to the company’s website, Top Ships is “an international owner of modern, fuel efficient ‘ECO’ MR tanker vessels focusing on the transportation of petroleum products (clean and dirty) and bulk liquid chemicals.” The description continues: “We have established a reputation in the international ocean transport industry for operating and maintaining vessels with high standards of performance, reliability and safety. Our management team comprises of executives with extensive experience in managing and operating large and diversified fleets of vessels, and with strong ties to a number of national, regional and international oil companies, charterers and traders. Our strategy is to grow the company’s fleet via acquisitions of newbuilding, resale or secondhand vessels of superior ECO design.”

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DepomedPublicly available records indicate that a class action lawsuit has been filed on behalf of investors in Depomed (NASDAQ:DEPO) in connection to alleged violations of securities laws by DEPO. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Depomed between February 26, 2015 and August 7, 2017.

The class action complaint specifically alleges that during the period in question, DEPO might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, chiefly: that the company employed questionable sales and marketing activities with respect to its opioid products; that when and if said activities came to like, the company was likely to fall under increased scrutiny from regulatory and legal authorities; and that consequently the company’s statements to the public during the relevant period were false and misleading. The complaint alleges that when true facts came to light, investors suffered losses.

According to the company’s website, Depomed is a “specialty pharmaceutical company focused on products to treat pain and other central nervous system (CNS) conditions.” The company’s description states further: “The company currently markets FDA-approved products: NUCYNTA® ER (tapentadol) extended release tablets indicated, CII for the management of pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate and in adult patients who have neuropathic pain associated with diabetic peripheral neuropathy (DPN) that is severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate; NUCYNTA® (tapentadol) an immediate release version of tapentadol, is indicated for the management of moderate to severe acute pain in adults; Gralise® (gabapentin) tablets for the management of postherpetic neuralgia (PHN); Cambia® (diclofenac potassium for oral solution) for acute treatment of migraine attacks with or without aura in adults 18 years of age or older; Lazanda® (fentanyl) nasal spray CII for the management of breakthrough pain in cancer patients; and Zipsor® (diclofenac potassium) liquid filled capsules for relief of mild to moderate acute pain.”

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Blue Apron HoldingsPublicly available records indicate that a class action lawsuit has been filed on behalf of investors in Blue Apron Holdings (NYSE:APRN) in connection to alleged violations of securities laws by APRN. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Blue Apron Holdings between June 26, 2017 and August 17, 2017.

The class action complaint specifically alleges that during its initial public offering (IPO), APRN might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, namely: that the company had chosen to substantially cut its ad spends in the second quarter of 2017, a move that would negatively impact future sales and profit margins; that the company’s customer retention was suffering due to issues in its on-time in-full rates, that is, customers were receiving orders that were both late and incomplete; and that the company was suffering delays with respect to a new factory in Linden, New Jersey in the second quarter of 2017. The complaint alleges that when true facts emerged, investors suffered losses.

According to the company’s website, Blue Apron Holdings is a meal delivery company whose “mission is to make incredible home cooking accessible to everyone.” The description continues: “Launched in 2012, Blue Apron is reimagining the way that food is produced, distributed, and consumed, and as a result, building a better food system that benefits consumers, food producers, and the planet. The company has developed an integrated ecosystem that enables the company to work in a direct, coordinated manner with farmers and artisans to deliver high-quality products to customers nationwide at compelling values. Blue Apron’s current products include Blue Apron Meals, Blue Apron Wine, the Blue Apron Market, and BN Ranch, a premium supplier of grass-fed beef and pasture-raised poultry.”

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Rayonier Advanced Materials

Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Rayonier Advanced Materials (NYSE:RYAM) in connection

to alleged violations of securities laws by RYAM. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Rayonier Advanced Materials between October 29, 2014 and August 19, 2015.

The class action complaint specifically alleges that during the period in question, RYAM might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, chiefly: that Eastman Chemical Company, one of the company’s major customers, had caused a lengthy contract dispute between the two companies by asking that Rayonier address reductions in market prices evidenced by RYAM’s competitors; and that in spite of this, the company stated that it would “be able to maintain or increase [its] share of volume at each of [the company’s] top 10 customers.” The complaint alleges that when true facts came to light, investors suffered losses.

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TechnipFMC plc Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in TechnipFMC plc (NYSE:FTI) in connection to alleged violations of securities laws by FTI. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in TechnipFMC plc between April 27, 2017 and July 24, 2017.

The class action complaint specifically alleges that during the period in question, FTI might have provided false and/or misleading material information, and/or failed to disclose adverse material information to the public, chiefly: that TechnipFMC was experiencing a material weakness affecting its internal systems governing the rates used in determining how foreign currency impacts certain projects; that TechnipFMC did not have adequate controls over the reporting of its finances; and that consequently, TechnipFMC’s statements to the public during the relevant period were false and misleading. When true details emerged, according to the complaint, investors suffered losses.

According to the company’s website, TechnipFMC plc is “a global leader in oil and gas projects, technologies, systems and services.” The company’s description continues: “With proprietary technologies and production systems, integrated expertise, and comprehensive solutions, we are transforming our clients’ project economics across subsea, onshore/offshore and surface. We are uniquely positioned to deliver greater efficiencies across project lifecycles from concept to project delivery and beyond. We are driven by a steady commitment to clients and a culture of purposeful innovation, challenging industry conventions and rethinking how the best results are achieved.”