Latest news with #securitiesFraud
Associated Press
2 days ago
- Business
- Associated Press
Krispy Kreme, Inc. Sued for Securities Law Violations - Contact Levi & Korsinsky Before July 15, 2025 to Discuss Your Rights
NEW YORK - June 30, 2025 ( NEWMEDIAWIRE ) - Levi & Korsinsky, LLP notifies investors in Krispy Kreme, Inc. ('Krispy Kreme, Inc.' or the 'Company') (NASDAQ: DNUT) of a class action securities lawsuit. CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Krispy Kreme, Inc. investors who were adversely affected by alleged securities fraud between February 25, 2025 and May 7, 2025. Follow the link below to get more information and be contacted by a member of our team: DNUT investors may also contact Joseph E. Levi, Esq. via email at [email protected] or by telephone at (212) 363-7500. CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) demand for Krispy Kreme products declined materially at McDonald's locations after the initial marketing launch; (2) demand at McDonald's locations was a driver of declining average sales per door per week; (3) the partnership with McDonald's was not profitable; (4) the foregoing posed a substantial risk to maintaining the partnership with McDonald's; (5) as a result, the Company would pause expansion into new McDonald's locations; and (6) 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. WHAT'S NEXT? If you suffered a loss in Krispy Kreme, Inc. during the relevant time frame, you have until July 15, 2025 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To learn more about this case, subscribe to the Bulls & Betrayals podcast, which features a dedicated episode unpacking the allegations against Krispy Kreme, Inc.. Listen now and find out if you are eligible to join the lawsuit. NO COST TO YOU: If you are a class member, you may be entitled to compensation without payment of any out-of-pocket costs or fees. There is no cost or obligation to participate. WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. CONTACT: Levi & Korsinsky, LLP Joseph E. Levi, Esq. Ed Korsinsky, Esq. 33 Whitehall Street, 17th Floor New York, NY 10004 [email protected] Tel: (212) 363-7500 Fax: (212) 363-7171 View the original release on
CTV News
25-06-2025
- Business
- CTV News
B.C. Appeal Court upholds US$30M fraud judgment against West Vancouver man
The Law Courts building, which is home to B.C. Supreme Court and the Court of Appeal, is seen in Vancouver, on Thursday, November 23, 2023. THE CANADIAN PRESS/Darryl Dyck The B.C. Court of Appeal has upheld a US$30 million court judgment against a West Vancouver man alleged by the U.S. government to be the 'mastermind' of a years-long securities fraud. The ruling says the U.S. Securities and Exchange Commission originally sued Frederick Sharp and others in a Massachusetts court in 2021, and won a default judgment that was recognized by the B.C. Supreme Court last year. The Appeal Court ruling says Sharp contested the judgment, claiming he had no 'real and substantial connection' to Massachusetts and also arguing he hadn't been properly served with documents related to the case. The lower court had rejected Sharp's arguments, finding they would 'possibly allow complex international fraud schemes to avoid accountability' if cases were spread across different jurisdictions. The Appeal Court ruling says the commission provided evidence that Sharp was 'evading' service of the case documents, and the lower court correctly found 'ample evidence' that documents were delivered to Sharp's West Vancouver address. The appeal ruling released Wednesday says Sharp tried to use expert evidence to show he wasn't 'validly' notified of the U.S. judgment, evidence the commission called an 'irrelevant sideshow.' This report by Darryl Greer, The Canadian Press, was first published June 25, 2025.
Associated Press
24-06-2025
- Business
- Associated Press
NYSE: HIMS Investigation: Kessler Topaz Meltzer & Check, LLP Encourages Hims & Hers Health, Inc. (NYSE: HIMS) Investors With Significant Losses to Contact the Firm
RADNOR, PA - June 24, 2025 ( NEWMEDIAWIRE ) - The law firm of Kessler Topaz Meltzer & Check, LLP ( ) is currently investigating potential violations of the federal securities laws on behalf of investors of Hims & Hers Health, Inc. ( NYSE: HIMS ) ('Hims & Hers'). On June 23, 2025, during pre-market hours, the pharmaceutical company Novo Nordisk announced it would no longer provide Hims & Hers with direct access to its FDA-approved weight loss drug Wegovy through NovoCare Pharmacy due to concerns about illegal mass compounding and deceptive marketing by Hims & Hers. Specifically, Novo Nordisk explained that Hims & Hers allegedly failed to comply with laws prohibiting mass sales of compounded drugs and disseminated 'deceptive marketing that put patient safety at risk.' On this news, Hims & Hers stock price fell $22.24 per share, or more than 34%, from a close of $64.22 per share on June 20, 2025, to close at $41.98 per share on June 23, 2025. If you are a Hims & Hers investor and would like to learn more about our investigation, pleaseCLICK HEREto fill out our online form or contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or E-mail at[email protected]. You can also click on the following link or paste it in your browser: Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country involving securities fraud, breaches of fiduciary duties and other violations of state and federal law. Kessler Topaz Meltzer & Check, LLP is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, LLP, please visit CONTACT: Kessler Topaz Meltzer & Check, LLP Jonathan Naji, Esq. 280 King of Prussia Road Radnor, PA 19087 (484) 270-1453 [email protected] May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes. View the original release on
Phone Arena
22-06-2025
- Business
- Phone Arena
Apple sued again over broken AI promises, and this time by its own shareholders
Apple is now facing a new legal challenge, this time from its own shareholders. A proposed securities fraud class action was filed in federal court on June 20, accusing the company of misleading investors about the timeline and capabilities of its artificial intelligence features, particularly those tied to Siri and the iPhone 16. The lawsuit, filed in San Francisco's Northern District of California, claims Apple downplayed how long it would take to deliver the AI upgrades it introduced as part of Apple Intelligence. The plaintiffs argue that these delays contributed to a decline in iPhone sales and a significant drop in the company's stock value. The case, Tucker v. Apple Inc, names CEO Tim Cook, CFO Kevan Parekh, and former CFO Luca Maestri as defendants. According to the complaint, investors were led to believe that Apple Intelligence would be a key selling point for the iPhone 16 lineup, offering smarter and more capable Siri experiences. But shareholders claim Apple did not actually have a working version of those features when it made those announcements during the June 2024 Worldwide Developers Conference. The situation became more complicated earlier this year when Apple reportedly postponed some of the new Siri capabilities to 2026. That initial delay came in March, and was followed by a WWDC 2025 presentation that left many analysts underwhelmed with the company's AI progress. In the months since, Apple shares have fallen nearly 25 percent from their all-time high in late December 2024, wiping out about $900 billion in market value. Apple's broken AI promise prompted this new round of litigation. | Image credit — Apple via Wayback Machine From a consumer standpoint, I think it was only a matter of time before legal action followed. Many users were expecting next-gen Siri features out of the box. Now that the lawsuit is official, Apple may need to move quickly to restore trust. Ideally, that means delivering more AI upgrades sooner, though it's likely the company will now be more cautious about overpromising in the future. Secure your connection now at a bargain price! We may earn a commission if you make a purchase Check Out The Offer
CNA
20-06-2025
- Business
- CNA
Apple sued by shareholders for allegedly overstating AI progress
Apple was sued on Friday by shareholders in a proposed securities fraud class action that accused it of downplaying how long it needed to integrate advanced artificial intelligence into its Siri voice assistant, hurting iPhone sales and its stock price. The complaint covers shareholders who suffered potentially hundreds of billions of dollars of losses in the year ending June 9, when Apple introduced several features and aesthetic improvements for its products but kept AI changes modest. Apple did not immediately respond to requests for comment. CEO Tim Cook, Chief Financial Officer Kevan Parekh and former CFO Luca Maestri are also defendants in the lawsuit filed in San Francisco federal court. Shareholders led by Eric Tucker said that at its June 2024 Worldwide Developers Conference, Apple led them to believe AI would be a key driver of iPhone 16 devices, when it launched Apple Intelligence to make Siri more powerful and user-friendly. But they said the Cupertino, California-based company lacked a functional prototype of AI-based Siri features, and could not reasonably believe the features would ever be ready for iPhone 16s. Shareholders said the truth began to emerge on March 7 when Apple delayed some Siri upgrades to 2026, and continued through this year's Worldwide Developers Conference on June 9 when Apple's assessment of its AI progress disappointed analysts. Apple shares have lost nearly one-fourth of their value since their December 26, 2024 record high, wiping out approximately $900 billion of market value. The case is Tucker v. Apple Inc et al, U.S. District Court, Northern District of California, No. 25-05197.
