NEW YORK, NY / ACCESSWIRE / October 6, 2022 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can 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. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Palantir Technologies Inc. (NYSE:PLTR)
Class Period: November 9, 2019 - May 6, 2022
Deadline: November 14, 2022
For more info: www.bgandg.com/pltr
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) Palantir's investments in marketable securities were having a significant negative impact on the Company's EPS results; (2) Palantir overstated the sustainability of its government segment's growth and revenues; (3) Palantir was experiencing a significant slowdown in revenue growth, particularly among its government customers, despite ongoing global conflicts and market disruptions; (4) as a result of all the foregoing, Palantir was likely to miss consensus estimates for its Q1 EPS and Q2 sales outlook; and (5) as a result, Palantir's public statements were materially false and misleading at all relevant times.
Fulgent Genetics, Inc. (NASDAQ:FLGT)
Class Period: March 22, 2019 - August 4, 2022
Deadline: November 21, 2022
For more info: www.bgandg.com/flgt
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Fulgent had been conducting medically unnecessary laboratory testing, engaging in improper billing practices in relation to laboratory testing, and providing or receiving remuneration in violation of the Anti-Kickback Statute and Stark Law; (2) accordingly, Fulgent was likely to become subject to enhanced legal and regulatory scrutiny; (3) Fulgent's revenues, to the extent they were derived from the foregoing unlawful conduct, were unsustainable; (4) the foregoing, once revealed, was likely to subject the Company to significant financial and/or reputational harm; and (5) as a result, the Company's public statements were materially false and misleading at all relevant times.
Warner Bros. Discovery, Inc. f/k/a Discovery, Inc. (NASDAQ:WBD)
Class Period: (1) exchanged Discovery common stock for Warner Bros. common stock pursuant to Discovery's February 4, 2022 Registration Statement on Form S-4 and Joint Proxy Statement/Prospectus filed with the Securities and Exchange Commission on February 10, 2022, or (2) purchased shares of Warner Bros. common stock on the open market traceable to the Prospectus through the date of the filing of the complaint (the "Class").
Deadline: November 22, 2022
For more info: www.bgandg.com/wbd
The Complaint alleges that defendants made materially false and misleading statements and omitted material facts in the Registration Statement and Prospectus concerning the operations of the WarnerMedia business. However, that adverse information was not disclosed to Discovery shareholders in the Registration Statement or Prospectus or at any time before the vote on the Merger or the effective date of the Merger. Specifically, defendants failed to disclose that, (1) WarnerMedia's HBO Max streaming business had a high churn rate that made the business not "viable" unless the churn rate was reversed, (2) AT&T was overinvesting in WarnerMedia entertainment content for streaming, without sufficient concern for return on investments, (3) WarnerMedia had a business model to grow the number of subscribers to its streaming service without regard to cost or profitability, (4) WarnerMedia was improvidently concentrating its investments in streaming and ignoring its other business lines, and (5) WarnerMedia had overstated the number of subscribers to HBO Max by as many as 10 million subscribers, by including as subscribers AT&T customers who had received bundled access to HBO Max, but had not signed onto the service.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC