BENSALEM, Pa., May 17, 2022 (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 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
Bakkt Holdings, Inc. f/k/a VPC Impact Acquisition Holdings (NYSE: BKKT)
Class Period: March 31, 2021 – November 19, 2021
Lead Plaintiff Deadline: June 20, 2022
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 had defective financial controls; (2) as a result, there were errors in the Company's financial statements related to the misclassification of certain shares issued prior to the Business Combination; (3) accordingly, the Company would need to restate certain of its financial statements; (4) the Company downplayed the true scope and severity of these issues; (5) the Company overstated its remediation of its defective financial controls; 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.
Innovative Industrial Properties, Inc. (NYSE: IIPR)
Class Period: May 7, 2020 – April 13, 2022
Lead Plaintiff Deadline: June 24, 2022
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company’s focus is to be a cannabis company lender rather than a real estate investment trust; (2) that the true values of the Company’s properties are significantly lower than Innovative Industrial Properties represents; (3) existential issues in its top customers; (4) that as a result, its top customers may not be able to continue making payments to the Company, which would face significant issues replacing these customers; 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.
Natera, Inc. (NASDAQ: NTRA)
Class Period: February 26, 2020 – April 19, 2022
Lead Plaintiff Deadline: June 27, 2022
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) Panorama was not reliable and resulted in high rates of false positives; (2) Prospera did not have superior precision compared to competing tests; (3) as a result of Defendants’ false and misleading claims about Natera’s technology, the Company was exposed to substantial legal and regulatory risks; (4) Natera relied upon deceptive sales and billing practices to drive its revenue growth; 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.
Riskified Ltd. (NYSE: RSKD)
Class Period: July 2021 IPO
Lead Plaintiff Deadline: July 1, 2022
The complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose that: (1) as Riskified expanded its user base, the quality of Riskified's machine learning platform had deteriorated (rather than improved as represented in the Registration Statement), because of, among other things, inaccuracies in the algorithms associated with onboarding new merchants and entering new geographies and industries; (2) Riskified had expanded its customer base into industries with relatively high rates of fraud including partnerships with cryptocurrency and remittance business in which Riskified had limited experience and that this expansion has negatively impacted the effectiveness of Riskified's machine learning platform; (3) as a result, Riskified was suffering from materially higher chargebacks and cost of revenue and depressed gross profits and gross profit margins during its third fiscal quarter of 2021; 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.
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, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
