NEW YORK, NY / ACCESSWIRE / June 8, 2021 /Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.
Romeo Power, Inc. (NYSE:RMO)
CONTACT JAKUBOWITZ ABOUT RMO:
Class Period: October 5, 2020 - March 30, 2021
Lead Plaintiff Deadline: June 15, 2021
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Romeo had only two battery cell suppliers, not four, (ii) the future potential risks that Defendants warned of concerning supply disruption or shortage had already occurred and were already negatively affecting Romeo's business, operations and business prospects, (iii) Romeo did not have the battery cell inventory to accommodate end-user demand and ramp up production in 2021, (iv) Romeo's supply constraint was a material hindrance to Romeo's revenue growth, and (v) Romeo's supply chain for battery cells was not hedged, but in fact, was totally at risk and beholden to just two battery cell suppliers and the spot market for their 2021 inventory. Given the supply constraint that Romeo was experiencing during the Class Period, Defendants had no reasonable basis to represent that the Company had the ability to meet customer demand and that it would support growth in revenue in 2021.
ChemoCentryx, Inc. (NASDAQ:CCXI)
CONTACT JAKUBOWITZ ABOUT CCXI:
Class Period: November 26, 2019 - May 3, 2021
Lead Plaintiff Deadline: July 6, 2021
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the study design of the Phase III ADVOCATE trial presented issues about the interpretability of the trial data to define a clinically meaningful benefit of avacopan and its role in the management of ANCA-associated vasculitis; (2) the data from the Phase III ADVOCATE trial raised serious safety concerns for avacopan; (3) these issues presented a substantial concern regarding the viability of ChemoCentryx's New Drug Application ("NDA") for avacopan for the treatment of ANCA-associated vasculitis; and (4) as a result of the foregoing, Defendants' public statements were materially false and misleading at all relevant times.
Array Technologies, Inc. (NASDAQ:ARRY)
CONTACT JAKUBOWITZ ABOUT ARRY:
This lawsuit is on behalf of investors who purchased ARRY: (a) between October 14, 2020, and May 11, 2021, inclusive and (b) pursuant, or traceable, or both, to: (i) the registration statement and prospectus issued in connection with the Company's October 2020 initial public offering; or (ii) the registration statement and prospectus issued in connection with the Company's December 2020 offering; or (iii) any combination of the initial public offering, December 2020 offering, or March 2021 offering.
Lead Plaintiff Deadline: July 13, 2021
Defendants repeatedly and consistently painted a materially misleading picture of the Company's business and prospects that did not reflect rising steel and freight costs. After the October 2020 initial public offering, the December 2020 offering and the March 2021 offering, and subsequent to the class period, Array disclosed that it was experiencing increases in steel prices and substantial increases in the cost of both ocean and truck freight that in turn were having a material impact on its margins for the foreseeable future. This caused Array to miss profit expectations and withdraw its full-year outlook. As a result of Defendants' wrongful acts and omissions and the precipitous decline in the market value of the Company's securities, shareholders have suffered significant losses and damages.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE: Jakubowitz Law
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