NEW YORK, NY / ACCESSWIRE / June 30, 2022 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
RSKD Shareholders Click Here: https://www.zlk.com/pslra-1/riskified-ltd-loss-submission-form?prid=29451&wire=1
AXSM Shareholders Click Here: https://www.zlk.com/pslra-1/axsome-therapeutics-inc-information-request-form?prid=29451&wire=1
YEXT Shareholders Click Here: https://www.zlk.com/pslra-1/yext-lawsuit?prid=29451&wire=1
* ADDITIONAL INFORMATION BELOW *
Riskified Ltd. (NYSE:RSKD)
This lawsuit is on behalf of all persons or entities who purchased Riskified Class A ordinary shares in or traceable to the Company’s July 2021 initial public offering.
Lead Plaintiff Deadline: July 1, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/riskified-ltd-loss-submission-form?prid=29451&wire=1
According to the filed complaint, (i) as Riskified expanded its user base, the quality of Riskified’s machine learning platform had deteriorated (rather than improved as represented in documents issued in connection with the July 2021 initial public offering), because of, among other things, inaccuracies in the algorithms associated with onboarding new merchants and entering new geographies and industries; (ii) Riskified had expanded its customer base into industries with relatively high rates of fraud – including partnerships with cryptocurrency and remittance business – in which Riskified had limited experience and that this expansion has negatively impacted the effectiveness of Riskified’s machine learning platform; (iii) as a result, Riskified was suffering from materially higher chargebacks and cost of revenue and depressed gross profits and gross profit margins during its third fiscal quarter of 2021; and (iv) thus, the representations in documents issued in connection with the July 2021 initial public offering regarding Riskified’s historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of Riskified prior to and at the time of the July 2021 initial public offering, and were materially false and misleading, and lacked a factual basis.
Axsome Therapeutics, Inc. (NASDAQ:AXSM)
AXSM Lawsuit on behalf of: investors who purchased December 30, 2019 – April 22, 2022
Lead Plaintiff Deadline: July 12, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/axsome-therapeutics-inc-information-request-form?prid=29451&wire=1
According to the filed complaint, during the class period, Axsome Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Axsome’s chemistry, manufacturing, and control (“CMC”) practices were deficient with respect to AXS-07, the Company’s medicine for the acute treatment of migraine, and its manufacturing process; (ii) as a result, Axsome was unlikely to submit the AXS-07 New Drug Application (“NDA”) on its initially represented timeline; (iii) the foregoing CMC issues remained unresolved at the time that the U.S. Food and Drug Administration (“FDA”) reviewed the AXS-07 NDA; (iv) accordingly, the FDA was unlikely to approve the AXS-07 NDA; (v) as a result of all the foregoing, Axsome had overstated AXS-07’s regulatory and commercial prospects; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Yext, Inc. (NYSE:YEXT)
YEXT Lawsuit on behalf of: investors who purchased March 4, 2021 – March 8, 2022
Lead Plaintiff Deadline: August 16, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/yext-lawsuit?prid=29451&wire=1
According to the filed complaint, during the class period, Yext, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Yext’s revenue and earnings were significantly deteriorating because of, among other things, poor sales execution and performance, as well as COVID-19 related disruptions; (ii) accordingly, Yext was unlikely to meet consensus estimates for its full year fiscal 2022 financial results and fiscal 2023 outlook; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
You have until the lead plaintiff deadlines to 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.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP
View source version on accesswire.com:
https://www.accesswire.com/707289/CLASS-ACTION-UPDATE-for-RSKD-AXSM-and-YEXT-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders
