In this news, the value of Tupconsistent’s constant percentage fell through $5. 76 consistent with the percentage, or 32. 16%, to close at $12. 15 consistent with the percentage on May 4, 2022.
The lawsuit alleges that, throughout the grace period, the defendants made false and misleading statements related to the company’s activities, operations, and compliance policies. Specifically, the defendants made false and/or misleading statements and/or failed to disclose that: (i) Tupperware faced significant demanding situations to maintain its profit and sales performance; (ii) as a result, Tupperware’s forecasts for the full year 2022 were unrealistic and/or unsustainable; (iii) any of the foregoing, once disclosed, would likely have a negative effect on Tupperware’s monetary condition; and (iv) therefore, the Company’s public statements were manifestly false and misleading at all applicable times.
To learn more about Tupperware’s demand for elegance action, visit: https://bespc. com/cases/TUP
Unilever PLC UL
Course duration: September 2, 2020 – July 21, 2021
Deadline for the main applicant: August 15, 2022
On 19 July 2021, Unilever’s ice cream subsidiary Ben
Then, on July 22, 2021, CNBC reported that Texas and Florida reviewed Ben’s actions.
As a result of this news, Unilever’s ADR value fell to $3. 08, or 5. 4%, to close at $53. 45 according to ADR on July 22, 2021, further hurting investors.
The action of elegance lawsuit alleges that during the elegance period, the defendants made clearly false and/or misleading statements, and did not disclose adverse facts about the company’s business, operations, and prospects. Specifically, the defendants did not disclose to investors: (1) that as of July 2020, Ben’s board of directors
To learn more about Unilever’s class action lawsuit, visit: https://bespc. com/cases/UL
Yext, Inc. YEXT
Course duration: March 4, 2021 – March 8, 2022
Deadline for the main applicant: August 16, 2022
Yext organizes a company’s data to provide answers to customer questions online. The company operates the yext platform, a cloud-based platform that allows its customers, among other things, to provide answers to customer questions, data about their business and content. of your landing pages and manage your customer reviews. Yext’s online page describes its service as “a modern AI-powered answering platform that understands herbal language, so that when other people ask questions about an online business, they get direct answers, not links. “
As COVID-19 resurfaced in 2021, Yext has consistently trusted investors that the pandemic-related effects on the company’s business are limited, as the company has adapted to the lockdowns and increased the power of its sales and other operations.
On March 8, 2022, Yext issued a press release announcing results for the fourth quarter (“Q4”) and fiscal year 2022. Among other things, Yext reported a profit of $100. 9 million for the fourth quarter of fiscal 2022, $140,000 according to consensus estimates; Revenue outlook for the first quarter (“Q1”) of fiscal 2023 of $96. 3 million to $97. 3 million, compared to consensus estimates of $103. 79 million; Non-GAAP net loss consistent with the consistent percentage outlook for the first quarter of fiscal 2023 of $0. 08 to $0. 07, compared to consensus estimates of $0. 05; Profit outlook for fiscal 2023 of $403. 3 million to $407. 3 million, contrary to consensus estimates of $444. 71 million; and a non-GAAP net loss consistent with a consistent percentage outlook for fiscal 2023 of $0. 19 to $0. 17, compared to consensus estimates of $0. 09. The company also announced the departure of its chief executive officer and chief financial officer.
On the same day, in a conference call to discuss Yext’s fourth quarter and fiscal year 2022 results, the company’s new chief executive officer, Michael Walrath (“Walrath”), referred to the company’s disappointing monetary results and revealed, among other things, that “we have noticed fragmentation in our interactions with consumers and our ability to provide premium service and support” and that, “[I]re looking back, it’s transparent that we were too focused on construction sales capability and not enough on other purposes that drive productivity, especially sales activation, training, visitor success and service. “Walrath also revealed that “we saw a very significant disruption to our business” such as “in the fourth quarter, 50%, more than 50% of our in-person occasions were cancelled due to Omicron’s surges [,]”, while believing that Yext can simply “[absolutely] improve its “sales movement to be more effective on disruptions like this [. ]”
As a result of this call, an analyst at Truist Securities downgraded the company’s Yext score to buys and lowered its value target from $17 to $6, noting, among other things, that key functionality signals showed an “unexpected slowdown” in the fourth quarter. , the forecasts for fiscal 2023 do not show a change of course in the short term, and that “the planned adjustments under the new control (in marketing strategy, sales organization) involve execution hazards and the timing of a significant and sustainable recovery in expansion is unclear[. ]”
As a result of those disclosures, the value of Yext’s constant percentage fell to $0. 055 based on the constant percentage, or 9. 29%, to close at $5. 37 based on the constant percentage on March 9, 2022.
The lawsuit alleges that, during the period of elegance, the defendants made materially false and misleading statements relating to the company’s activities, operations and prospects. Specifically, the defendants made false and/or misleading statements and/or failed to disclose that: (i) Yext’s revenues and profits were deteriorating particularly due to, among other things, poor sales execution and performance, as well as COVID-19-like disruptions; (ii) therefore, Yext was unlikely to meet consensus estimates for its monetary effects for fiscal 2022 and its outlook for fiscal 2023; and (iii) as a result, the Company’s public statements were materially false and misleading at all applicable times.
To learn more about Yext’s demand for elegance action, visit: https://bespc. com/cases/YEXT
Inotiv, Inc. NOTV
Course duration: September 21, 2021 – June 13, 2022
Deadline for the main applicant: August 22, 2022
The dispute it demands places Inotiv’s claims related to its Envigo business, which the company acquired in September 2021, adding that Envigo has maintained “high animal welfare standards” at its Cumberland, Virginia and other animal testing sites.
On May 20, 2022, Inotiv announced that on May 18, federal and state law enforcement conducted a search and seizure order at the Cumberland facility. The company also announced that the Department of Justice sued Envigo for violating the Animal Welfare Act (“AWA”). .
Then, on May 21, 2022, the court in the DOJ case ordered a halt to the AWA violations in Cumberland. The court order noted that many beagle puppies died at the Cumberland facility (many of which were not anesthetized before being euthanized intracardiacly). injection), that lactating female beagles were denied food and that many puppies died from exposure to cold. About 3 weeks later, Inotiv announced that it would be ending Cumberland.
On these occasions the percentage value of Inotiv collapses.
According to the lawsuit, defendants during the Action Period made false and/or misleading statements and/or failed to disclose: (1) Envigo RMS, LLC (“Envigo”) and Inotiv’s cumberland, Virginia facility (the “Cumberland Facility”) engaged in widespread and flagrant violations of the Animal Welfare Act (“AWA”); (2) Envigo’s cumberland and Inotiv facilities have consistently violated the AWA; (3) Envigo and Inotiv did not adequately address animal welfare issues at the Cumberland facility; (4) as a result, Inotiv was most likely subject to increased government scrutiny and action; (5) Inotiv would within a while close two facilities, adding the Cumberland facility; (6) Inotiv failed to exercise due diligence; and (7) therefore, the defendants’ statements regarding their activities, operations and clients were materially false and misleading and/or lacked a moderate basis at all applicable times. When the genuine main points entered the market, the lawsuit claims that the investors suffered damages. .
To learn more about Inotiv’s demand for elegance action, visit: https://bespc. com/cases/NOTV
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