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CLASS ACTION UPDATE for GPS, IREN and IBM: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

Friday, January 27, 2023 2:00 PM
Levi & Korsinsky, LLP

NEW YORK, NY / ACCESSWIRE / January 27, 2023 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

GPS Shareholders Click Here: https://www.zlk.com/pslra-1/the-gap-inc-lawsuit-submission-form?prid=36021&wire=1
IREN Shareholders Click Here: https://www.zlk.com/pslra-1/iris-energy-class-action-submission-form?prid=36021&wire=1
IBM Shareholders Click Here: https://www.zlk.com/pslra-1/ibm-class-action-submission-form?prid=36021&wire=1

* ADDITIONAL INFORMATION BELOW *

Levi & Korsinsky, LLP, Friday, January 27, 2023, Press release picture

The Gap, Inc. (NYSE:GPS)

GPS Lawsuit on behalf of: investors who purchased November 24, 2021 - July 11, 2022
Lead Plaintiff Deadline : February 3, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/the-gap-inc-lawsuit-submission-form?prid=36021&wire=1

According to the filed complaint, during the class period, The Gap, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) there were execution missteps in size and assortment at Old Navy related to BODEQUALITY, the Company's size-inclusivity campaign, which were adversely impacting Old Navy's margins and financial results; (2) contrary to the Company's statements, there were inventory risks relating to BODEQUALITY that were adversely affecting the Company's operations; and as a result (3) the Company's statements during the class period about the historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of the Company, and were materially false and misleading and lacked a factual basis.

Iris Energy Limited (NASDAQ:IREN)

This lawsuit is on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired: (a) Iris ordinary shares pursuant and/or traceable to the documents issued in connection with the Company's initial public offering conducted on or about November 17, 2021; and/or (b) Iris securities between November 17, 2021 and November 1, 2022, both dates inclusive.
Lead Plaintiff Deadline : February 13, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/iris-energy-class-action-submission-form?prid=36021&wire=1

According to the filed complaint, (i) certain of Iris's Bitcoin miners, owned through its wholly-owned special purpose vehicles, were unlikely to produce sufficient cash flow to service their respective debt financing obligations; (ii) accordingly, Iris's use of equipment financing agreements to procure Bitcoin miners was not as sustainable as defendants had represented; (iii) the foregoing was likely to have a material negative impact on the Company's business, operations, and financial condition; and (iv) as a result, documents issues in connection with the Company's initial public offering and defendants' public statements throughout the class period were materially false and/or misleading and failed to state information required to be stated therein.

International Business Machines Corporation (NYSE:IBM)

IBM Lawsuit on behalf of: investors who purchased January 18, 2018 - October 16, 2018
Lead Plaintiff Deadline : March 14, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/ibm-class-action-submission-form?prid=36021&wire=1

According to the filed complaint, during the class period, International Business Machines Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) Strategic Imperatives Revenue growth, CAMSS (the distinct components of "Cloud," "Analytics," "Mobile," "Security," and "Social") and CAMSS Components' revenue growth, and the Company's Segments' revenue growth were artificially inflated as a result of the wrongful reclassification/misclassification of revenues from non-strategic to strategic to make those revenues eligible for treatment as Strategic Imperatives Revenue; and (ii) IBM was materially less successful in growing its Strategic Imperative business, reporting materially higher growth than it actually achieved only by wrongfully reclassifying and misclassifying revenue from non-strategic to strategic thereby reporting publicly materially false Strategic Imperative Revenue.

You have until the lead plaintiff deadlines 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.

Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

Topic:
Class Action
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