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NEW YORK, Jan. 13, 2022 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can 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. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Alfi, Inc. ( NASDAQ: ALF; ALFIW)
Class Period: (a) Alfi common stock or warrants pursuant and/or traceable to the Offering Documents (defined below) issued in connection with the Company's initial public offering conducted on or about May 4, 2021 (the 'IPO' or 'Offering'); and/or (b) Alfi securities between May 4, 2021 and November 15, 2021, both dates inclusive (the 'Class Period').
Deadline: January 31, 2022
For more info: .
The complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. The complaint also alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that: (1) Alfi maintained deficient disclosure controls and procedures and internal control over financial reporting; (2) as a result, the Company and its employees could and did engage in corporate transactions and other matters without sufficient and appropriate consultation with or approval by the Company's Board of Directors (the 'Board'); (3) all the foregoing increased the risk of internal and regulatory investigations into the Company and its employees; (4) all the foregoing, once revealed, was likely to have a material negative impact on the Company's reputation, financial condition, and ability to timely file periodic reports with the SEC; and (5) as a result, the Company's public statements were materially false and misleading at all relevant times.
iQIYI, Inc. (NASDAQ: IQ)
Class Period: March 22, 2021 - March 29, 2021
Deadline: January 31, 2022
For more info: .
The complaint alleges that throughout the Class Period, Defendants traded while in possession of material non-public information and about Archegos and its need to fully liquidate its position in the Company because of margin call pressure. While in possession of material, non-public adverse information, Defendants collectively sold billions of dollars' worth of Company shares. Later, when the information became publicly known, the price of the Company's common stock declined sharply as a result of such disclosure.
Berkeley Lights, Inc. ( NASDAQ: BLI )
Class Period: July 17, 2020 - September 14, 2021
Deadline: February 7, 2022
For more info: .
The complaint alleges that throughout the Class Period, Defendants made false and misleading statements and failed to disclose that: (1) Berkeley Lights' flagship instrument, the Beacon, suffered from numerous design and manufacturing defects including breakdowns, high error rates, data integrity issues and other problems, limiting the ability of biotechnology companies and research institutions to consistently use the machines at scale; (2) Berkeley Lights had received numerous customer complaints regarding the durability and effectiveness of Berkeley Lights' automation systems, including complaints related to the design and manufacturing; (3) the actual market for Berkeley Lights' products and services was a fraction of the $23 billion represented to investors because of, among other things, the relatively high cost of Berkeley Lights' instruments and consumables and inability to provide the sustained performance necessary to justify these high costs; and (4) as a result, defendants' statements to investors during the Class Period regarding Berkeley Lights' business, operations and financial results were materially false and misleading.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 |
Tags Class Action
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