BENSALEM, Pa., July 18, 2024 (GLOBE NEWSWIRE) — Law Offices of Howard G. Smith 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 Howard G. Smith to discuss their legal rights in these class actions at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com.
Cambium Networks Corporation (NASDAQ: CMBM)
Class Period: May 8, 2023 – January 18, 2024
Lead Plaintiff Deadline: July 22, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) that there was a buildup of inventory in the Company’s distribution channels; (2) that the Company and its distributors were reasonably likely to offer aggressive discounts to reduce the high channel inventories; (3) that the Company’s revenue would decline sequentially until the excess channel inventory was sold through; (4) that Cambium was likely to incur significant charges to writedown excess and obsolete inventory; (5) that, as a result of the foregoing, the Company’s fiscal 2023 revenue and earnings would be adversely affected; and (6) 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.
Biogen Inc. (NASDAQ: BIIB)
Class Period: February 3, 2022 – February 13, 2024
Lead Plaintiff Deadline: July 22, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) Biogen had overstated its efforts to enhance its transparency, corporate governance, and compliance controls and procedures, as well as the efficacy of those controls and procedures; (2) accordingly, Biogen maintained inadequate compliance controls and procedures in connection with its business operations in foreign countries; (3) Biogen and/or its employees were engaged in unlawful or otherwise improper conduct in several foreign countries; (4) the foregoing subjected the Company to a heightened risk of governmental and/or regulatory scrutiny and enforcement action, as well as significant legal, financial, and reputational harm; (5) Biogen overstated the strength of its AD-related product portfolio, including the Company’s and Eisai’s efforts and success in launching and providing access to Leqembi; (6) Biogen also downplayed the negative impact that the Reata Acquisition would have on its FY 2023 non-GAAP diluted EPS; (7) all the foregoing were likely to have a significant negative impact on Biogen’s 2023 results; and (8) 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.
Direct Digital Holdings, Inc. (NASDAQ: DRCT)
Class Period: April 17, 2023 – March 25, 2024
Lead Plaintiff Deadline: July 22, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company’s transition toward a “cookie-less” advertising environment was accelerated and would impact revenue in 2024; (2) the Company’s alternatives to third-party cookies, including planned investments in AI and machine learning to build on first-party data sources, would not be viable alternatives to third-party cookies and similar tracking technologies; (3) the Company did not have adequate solutions to address the impending phase out of third-party cookies by Google; 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.
Fastly, Inc. (NYSE: FSLY)
Class Period: February 15, 2024 – May 1, 2024
Lead Plaintiff Deadline: July 23, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) contrary to its representations to investors, Fastly was in fact experiencing a significant deceleration in growth among its largest customers and was losing the increased market share it had gained as a result of the 2023 CDN consolidation trend; (2) the foregoing issues were likely to have a material negative impact on the Company’s revenue growth; (3) accordingly, the Company was unlikely to meet its own previously issued revenue guidance for FY 2024; (4) as a result, the Company’s financial position and/or prospects were overstated; 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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
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