LOS ANGELES, Oct. 09, 2023 (GLOBE NEWSWIRE) — The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to fcruz@frankcruzlaw.com.
Applied Digital Corporation (NASDAQ: APLD)
Class Period: April 13, 2022 – July 26, 2023
Lead Plaintiff Deadline: October 11, 2023
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Applied Digital had overstated the profitability of its datacenter hosting business and its ability to successfully transition into a low-cost AI Cloud services provider; (2) Applied Digital’s Board of Directors was not independent within the meaning of NASDAQ listing rules; (3) accordingly, Applied Digital had overstated the efficacy of its business model and failed to maintain proper corporate governance standards; (4) the foregoing, once revealed, was likely to subject the Company to significant financial and/or reputational harm; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you are an Applied Digital shareholder who suffered a loss, click here to participate.
Infinity Pharmaceuticals, Inc. (NASDAQ: INFI; OTC: INFI)
Class Period: January 5, 2022 – July 24, 2023
Lead Plaintiff Deadline: October 16, 2023
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Infinity overstated its prospects for a breast cancer treatment; (2) Infinity was overly optimistic about its breast cancer studies; (3) all the foregoing, once revealed, was likely to negatively impact Infinity’s business, financial results, and reputation; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you are an Infinity shareholder who suffered a loss, click here to participate.
GigaCloud Technology Inc. (NASDAQ: GCT)
Class Period: August 18, 2022 – September 27, 2023
Lead Plaintiff Deadline: December 4, 2023
The complaint filed in this class action alleges that in the Registration Statement and throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company’s business is a fraction of what it publicly claims, as evidenced by staffing and activity levels at its warehouses; (2) that the Company overstated its last-mile operations; (3) that the Company engaged in undisclosed related party transactions; (4) that, as a result, the Company’s financial results were overstated; (5) that, 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.
If you are a GigaCloud shareholder who suffered a loss, click here to participate.
Follow us for updates on Twitter: twitter.com/FRC_LAW.
To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
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