NEW YORK, NY / ACCESSWIRE / April 28, 2022 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
Volta Inc. (NYSE:VLTA)
Investors Affected : August 2, 2021 - March 28, 2022
A class action has commenced on behalf of certain shareholders in Volta Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Volta had improperly accounted for restricted stock units issued in connection with the business combination of Volta Industries, Inc. ("Legacy Volta") and Tortoise Acquisition Corp. II; (2) as a result, the Company had understated its net loss for third quarter 2021; (3) there were material weaknesses in the Company's internal control over financial reporting that resulted in a material error; (4) as a result of the foregoing, the Company would restate its financial statements; (5) as a result of the foregoing, Legacy Volta's founders would imminently exit the Company; (6) as a result, the Company's financial results would be adversely impacted; and (7) 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.
Shareholders may find more information at https://securitiesclasslaw.com/securities/volta-inc-loss-submission-form/?id=26487&from=1
International Business Machines Corporation (NYSE:IBM)
Investors Affected : April 4, 2017 - October 20, 2021
A class action has commenced on behalf of certain shareholders in International Business Machines Corporation. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Strategic Imperatives Revenue and growth, CAMSS and CAMSS Components' revenue and growth, and the Company's Segments' revenue and growth were artificially inflated as a result of the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperatives Revenue; (ii) the Company's present success and positive future growth prospects concerning its Strategic Imperative business strategy were being fueled by the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperative Revenue and, as a result (iii) the Company misled the market by portraying the Company's Strategic Imperative's financial performance and future prospects more favorable than they actually were as a result of the wrongful reclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperatives.
Shareholders may find more information at https://securitiesclasslaw.com/securities/international-business-machines-corporation-loss-submission-form/?id=26487&from=1
Aurinia Pharmaceuticals Inc. (NASDAQ:AUPH)
Investors Affected : May 7, 2021 - February 25, 2022
A class action has commenced on behalf of certain shareholders in Aurinia Pharmaceuticals Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Aurinia was experiencing declining revenues; (ii) Aurinia's 2022 sales outlook for the Company's only product which it offers for the treatment of adult patients with active lupus nephritis, LUPKYNIS, would fall well short of expectations; (iii) accordingly, the Company had significantly overstated LUPKYNIS's commercial prospects; (iv) as a result, the Company had overstated its financial position and/or prospects for 2022; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/aurinia-pharmaceuticals-inc-loss-submission-form/?id=26487&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE : The Gross Law Firm