NEW YORK, NY / ACCESSWIRE / February 14, 2022 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
Faraday Future Intelligent Electric Inc. F/K/A Property Solutions Acquisition Corp. (NASDAQ:FFIE)
Investors Affected: January 28, 2021 – November 15, 2021
A class action has commenced on behalf of certain shareholders in Faraday Future Intelligent Electric Inc F/K/A Property Solutions Acquisition Corp. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company had assets in China frozen by courts, (2) a significant percentage of its deposits for future deliveries were attributable to a single undisclosed affiliate; (3) the Company’s cars were not as close to production as the Company claimed; (4) as a result of previously issued statements that were misleading and/or inaccurate, Faraday Future could not timely file its quarterly report; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders may find more information at https://securitiesclasslaw.com/securities/araday-future-intelligent-electric-inc-f-k-a-property-solutions-acquisition-corp-loss-submission-form/?id=23694&from=1
Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. (NASDAQ:ELMS)
Investors Affected: March 31, 2021 – February 1, 2022
A class action has commenced on behalf of certain shareholders in Electric Last Mile Solutions, Inc f/k/a Forum Merger III Corp. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) ELMS’s previously issued financial statements were false and unreliable; (2) ELMS’s earlier reported financial statements would need restatement; (3) certain ELMS executives and/or directors purchased equity in the Company at substantial discounts to market value without obtaining an independent valuation; (4) on November 25, 2021 (Thanksgiving), the Company’s Board formed an independent Special Committee to conduct an inquiry into certain sales of equity securities made by and to individuals associated with the Company; and (5) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/electric-last-mile-solutions-inc-f-k-a-forum-merger-iii-corp-loss-submission-form/?id=23694&from=1
Biogen Inc. (NASDAQ:BIIB)
Investors Affected: June 7, 2021 – January 11, 2022
A class action has commenced on behalf of certain shareholders in Biogen Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: 1) there was a significant, undisclosed lobbying campaign between Biogen and the Food and Drug Administration (“FDA”) that was instrumental in the decision to file and approve Aduhelm, a drug being developed to treat Alzheimer’s disease; 2) the Phase III ENGAGE study demonstrated that Aduhelm failed to achieve a clinical benefit to Alzheimer’s patients; 3) ENGAGE was a failed study from which Biogen concluded not to seek FDA approval for Aduhelm in 2019; and 4) defendants misled investors as to the way in which approval was achieved, that the clinical data did not support a clinical benefit by taking Aduhelm and that side-effects were dangerous and serious.
Shareholders may find more information at https://securitiesclasslaw.com/securities/biogen-inc-loss-submission-form-2/?id=23694&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company’s stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm
View source version on accesswire.com:
https://www.accesswire.com/688763/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-FFIE-ELMS-and-BIIB
