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Articles Posted in Class Action

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When a person or entity runs any type of fraud, they generally go to great lengths to disguise their activities from the financial institutions to avoid fraud detection. Many banks have the power to put a stop to any illegal activity that involves their institution to avoid regulatory trouble. Wells Fargo is facing a lawsuit for failing to stop illegal activity to prevent a fraud. Four investors filed suit on Friday, August 23, 2021, allege that a recently discovered Ponzi scheme used accounts at Wells Fargo Bank. Additionally, the bank did nothing and allowed the scheme to continue defrauding investors. The plaintiffs accuse Wells Fargo of “aiding and abetting” the scheme. The Securites And Exchange Commission (SEC) has also become involved, filing its own lawsuit against the company committing fraud.   MJ Capital Funds, MJ Taxes And More Headquartered in Pompano Beach, FL, MJ Capital Funding claimed to offer “merchant cash advances” to small businesses to help them with cash flow. Touting a “simplified 4 step process,” the company’s website says it helps small and medium sized businesses who needed funding.When a person or entity runs any type of fraud, they generally go to great lengths to disguise their activities from the financial institutions to avoid fraud detection. Many banks have the power to put a stop to any illegal activity that involves their institution to avoid regulatory trouble. Wells Fargo is facing a lawsuit for failing to stop illegal activity to prevent a fraud. Continue reading ›

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Waterdrop Inc. (WDH) is the subject of a class action lawsuit, filed on behalf of shareholders, regarding alleged violations of the federal securities laws. If you have investment losses with Waterdrop Inc. (WDH), please contact Silver Law Group at (800) 975-4345 or at ssilver@silverlaw.com. The deadline to apply to be lead plaintiff (class representative) is November 15, 2021. Waterdrop is a Chinese company founded in 2016 that operates medical crowdfunding platforms and provides online insurance brokerage services. The company is backed by Chinese tech conglomerate Tencent, which is a minority owner. Waterdrop IPO Waterdrop held its initial public offering (IPO) in May, 2021 selling 30 million shares at $12 per share. Representatives for the underwriters were Goldman Sachs (Asia), Morgan Stanley, and BofA Securities. On June 17, 2021, Waterdrop reported financial results for the quarter closed before the IPO that stated that the company’s operating costs and expenses had increased to $205.1 million and that the company had an operating loss for the quarter of $70.3 million, which was four times higher than the same quarter the prior year.Waterdrop Inc. (WDH) is the subject of a class action lawsuit, filed on behalf of shareholders, regarding alleged violations of the federal securities laws.

If you have investment losses with Waterdrop Inc. (WDH), please contact Silver Law Group at (800) 975-4345 or at ssilver@silverlaw.com. The deadline to apply to be lead plaintiff (class representative) is November 15, 2021. Continue reading ›

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Activision Blizzard, Inc. (ATVI) is the subject of a class action lawsuit regarding alleged violations of the federal securities laws. If you purchased shares of Activision Blizzard between August 4, 2016 and July 27, 2021 (class period), please contact Silver Law Group before October 4, 2021 at (800) 975-4345 or at ssilver@silverlaw.com. Activision Blizzard is a publicly-traded gaming and interactive entertainment company whose products include franchises such as Call of Duty, World of Warcraft, and Candy Crush. Activision Blizzard Allegedly Discriminated Against Women And Minorities Following an investigation by the California Department of Fair Employment and Housing, the agency filed a lawsuit against the company that alleged discrimination against female employees regarding compensation, conditions of employment, promotion, and other terms, and failed to prevent harassment, discrimination, and retaliation. Almost 1,000 current and former Activision Blizzard employees signed a letter calling the company’s response to the lawsuit “abhorrent and insulting”. Current and former employees publicly shared allegations of discrimination. Some gaming outlets stopped covering games released by the company. The class action lawsuit filed against Activision Blizzard alleges that the company was at greater risk of legal and regulatory scrutiny that could negatively impact the company, that the company failed to tell shareholders about the investigation by California Department of Fair Employment and Housing, and that as a result, the company’s statements about its business and prospects were materially false and misleading.Activision Blizzard, Inc. (ATVI) is the subject of a class action lawsuit regarding alleged violations of the federal securities laws.

If you purchased shares of Activision Blizzard between August 4, 2016 and July 27, 2021 (class period), please contact Silver Law Group before October 4, 2021 at (800) 975-4345 or at ssilver@silverlaw.com. Continue reading ›

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HyreCar, Inc. (HYRE) is the subject of a class action lawsuit filed on behalf of shareholders regarding alleged violations of the federal securities laws. If you purchased shares of HyreCar between May 14, 2021 and August 10, 2021 (class period), please contact Silver Law Group at (800) 975-4345 or at ssilver@silverlaw.com. The deadline to apply to be lead plaintiff (class representative) is October 26, 2021. HyreCar is a publicly-traded Los Angeles-based company that operates a car sharing marketplace, which allows car owners to rent their cars to drivers for ride-share services like Uber and Lyft. HyreCar Press Release Causes Stock To Fall After market close on August 10, 2021, HyreCar stated in a press release that in Q2 2021 the company had net losses of $9.3 million. The company’s adjusted EBITDA loss was $7.1 million, which was more than four times higher than the $1.7 million adjusted EBITDA loss in the same quarter of the previous year. According to the press release, gross profit for Q2 2021 was $0.8 million, which was less than one third what it was in the same quarter of the previous year. At the same time the press release was issued, HyreCar filed a 10-Q with the SEC, which disclosed increasing costs of revenue during the quarter, which was attributed to higher insurance claims incidence.HyreCar, Inc. (HYRE) is the subject of a class action lawsuit filed on behalf of shareholders regarding alleged violations of the federal securities laws.

If you purchased shares of HyreCar between May 14, 2021 and August 10, 2021 (class period), please contact Silver Law Group at (800) 975-4345 or at ssilver@silverlaw.com. The deadline to apply to be lead plaintiff (class representative) is October 26, 2021. Continue reading ›

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Longveron, Inc., (LGVN) is being investigated by Silver Law Group regarding potential claims for investors in the company to recover losses. The investigation concerns potential violations of the federal securities laws. If you have losses from investing in Longveron Inc. (LGVN) contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. Longveron, Inc. is a publicly traded company focusing on biotechnology and specializing in stem cell research. The company is developing various therapies to treat aging-related disorders such as Alzhiemer’s. The company is using allogeneic mesenchymal stem cells to create regenerative medicine for a number of conditions related to aging, including metabolic syndrome, Alzheimer’s disease, age-related frailty, and hypoplastic left heart syndrome (a rare congenital heart defect in children). The company’s premier drug, Lomecel-B, an infusion drug, is made from medicinal signaling cells from healthy bone marrow from adult donors. Lomecel-B is designed to specifically treat aging frailty. In addition, Lomecel-B is also seen as a possible treatment for Acute Respiratory Distress Syndrome (ARDS), which can affect patients with COVID-19 as well as influenza. ARDS has a very limited course of treatment, with ventilators as the most common.Longveron, Inc., (LGVN) is being investigated by Silver Law Group regarding potential claims for investors in the company to recover losses. The investigation concerns potential violations of the federal securities laws.

If you have losses from investing in Longveron Inc. (LGVN) contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. Continue reading ›

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Live Ventures Incorporated (LIVE) is being investigated by Silver Law Group regarding possible violations of the federal securities laws. If you purchased shares of Live Ventures (LIVE) between December 28, 2016 and August 3, 2021 (class period), contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. The deadline to apply to be lead plaintiff (class representative) is October 12, 2021. Live Ventures is a US-based publicly-traded holding company that, with its subsidiaries, operates in the flooring manufacturing, retail, and steel manufacturing business. Class Action Lawsuit Filed On Friday, August 13, 2021 a class action lawsuit was filed against Live Ventures in federal court in Nevada. The lawsuit was filed on behalf of investors who have losses from owning shares of the company during the class period.Live Ventures Incorporated (LIVE) is being investigated by Silver Law Group regarding possible violations of the federal securities laws.

If you purchased shares of Live Ventures (LIVE) between December 28, 2016 and August 3, 2021 (class period), contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. The deadline to apply to be lead plaintiff (class representative) is October 12, 2021. Continue reading ›

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Silver Law Group is investigating Rekor Systems, Inc. (REKR) regarding potential claims for investors in the company to recover losses. The investigation concerns potential violations of the federal securities laws. If you have losses from investing in Rekor Systems, Inc. (“REKR") contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. The company’s largest revenue stream comes from a contract for their systems for tracking uninsured motorists. This UVED (uninsured vehicle enforcement diversion) partnership is with the state of Oklahoma. Rekor would identify drivers with their ALPR or “automated license plate readers,” and collect fees on behalf of the state. Despite comments about winning similar contracts with New York, Florida, Texas, and numerous other states, these mandates did not pass, and no new contracts have been signed. Currently, Oklahoma is the only UVED partnership. Two reports indicate that the ambitious figures for Oklahoma discussed by CEO Robert Berman were speculative, at best, and overstated by 96%. A report from Western Edge indicated that the company’s “potential revenue guidance” may be overstated by as much as 80%. Additionally, the Mariner Research Group published a report titled “REKR—Government documents to not support investor expectations.”Silver Law Group is investigating Rekor Systems, Inc. (REKR) regarding potential claims for investors in the company to recover losses. The investigation concerns potential violations of the federal securities laws.

If you have losses from investing in Rekor Systems, Inc. (“REKR”) contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. Continue reading ›

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Wunong Net Technology Company Limited, Inc. (WNW) ("Wunong" or the "Company") is being investigated by Silver Law Group regarding potential claims for investors in the company to recover losses. The investigation concerns potential violations of the federal securities laws. If you have losses from investing in Wunong Net Technology Company Limited (WNW) contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. Wunong received written notification from the NASDAQ Stock Market LLC that because the company failed to file it’s annual report on Form 20F for the year ending on December 31, 2020, it was no longer in compliance with Listing Rule 5250(c)(1) for continued listing. NASDAQ’s rules give the Company 60 calendar days to submit their plan to regain compliance. Should the plan be accepted, NASDAQ will grant the company an extension of up to 180 calendar days from the filing’s due date to regain compliance. In Wunong’s case, this would be November 15, 2021. The company issued a press release announcing the notification from NASDAQ on May 19, 2021. In it, the Company advised its investors that it is “working aggressively to complete its audit,” submit its Form 20-F and regain compliance with NASDAQ’s requirements on or before the deadline. However, after the press release, Wunong’s stock price fell sharply during trading on May 20, 2021. Just two months before, trading of Wunong’s stock increased around 27% after social media talk about the company, similar to the recent increases for Gamestock and AMC Theaters on Reddit. However, this may be investors looking for a repeat of these anomalies.Wunong Net Technology Company Limited, Inc. (WNW) (“Wunong” or the “Company”) is being investigated by Silver Law Group regarding potential claims for investors in the company to recover losses. The investigation concerns potential violations of the federal securities laws.

If you have losses from investing in Wunong Net Technology Company Limited (WNW) contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. Continue reading ›

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Anixa Biosciences, Inc. (ANIX) is being investigated by Silver Law Group regarding potential claims for investors in the company to recover losses. The investigation concerns potential violations of the federal securities laws. If you have losses from investing in Anixa Biosciences (ANIX) contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. Anixa Biosciences, Inc. is a publicly-traded biotechnology company focused on the treatment of infectious diseases as well as cancer. The company focuses on significant deficiencies in the treatment of both oncology and infectious diseases. The company is also currently working on a potential treatment for COVID-19. One of Anixa’s most important projects is the Chimeric Antigen Receptor-T cell therapy (CAR-T), also called CER-T. This therapy targets the follicle stimulating hormone receptor, or FSHR. The firm has a partnership with the Moffitt Cancer Center, as well as an alliance with the Cleveland Clinic for its advanced breast cancer vaccine technology.Anixa Biosciences, Inc. (ANIX) is being investigated by Silver Law Group regarding potential claims for investors in the company to recover losses. The investigation concerns potential violations of the federal securities laws.

If you have losses from investing in Anixa Biosciences (ANIX) contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. Continue reading ›

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