Pool supply company Leslie's Inc. is urging the Arizona federal court to drop a suit accusing it of concealing that booming sales during the COVID-19 pandemic were due to an inventory glut, not the company's growth strategies, arguing that its statements were based on information it believed to be true about consumer purchasing behavior.
A real estate investment trust has been hit with a proposed class action by its former CEO alleging the company's insiders breached their fiduciary duties by failing to make a legitimate effort to repurchase certain preferred shares prior to their redemption date, leading to severe dilution of the common shares.
Glancy Prongay & Murray LLP will lead a proposed class action alleging Asian specialty grocery chain Maison Solutions' stock price was severely damaged after a third-party research report accused it and its executives of participating in illegal activities, including using supermarkets as a front for immigration fraud.
A California federal judge has dismissed a lawsuit from the investors of Revance Therapeutics Inc. accusing it and several executives of concealing quality control concerns that eventually led the U.S. Food and Drug Administration to deny the company a license for its wrinkle injectable, saying the defendants may not have known the approval timeline they presented was unattainable.
Executives and directors of artificial intelligence company C3.ai Inc. have been hit with a shareholder derivative suit in California federal court claiming they failed to disclose that the company's partnership with oil company Baker Hughes Co. was falling apart and that its sales team was experiencing high turnover.