BENSALEM, Pa., Sept. 08, 2023 (GLOBE NEWSWIRE) — Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
KeyCorp (NYSE: KEY)
Class Period: February 27, 2020 – June 9, 2023
Lead Plaintiff Deadline: October 3, 2023
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) Key downplayed concerns with its liquidity while overstating the effectiveness of its long-term liquidity strategy; (2) Key overstated its projected NII for the second quarter and full year of 2023, as well as related positive NII drivers, while downplaying negative NII drivers; (3) as a result, Key was likely to negatively revise its previously issued NII guidance; (4) all the foregoing, once revealed, was likely to negatively impact Key’s business, financial results, and reputation; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Applied Digital Corporation (NASDAQ: APLD)
Class Period: April 13, 2022 – July 26, 2023
Lead Plaintiff Deadline: October 11, 2023
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) Applied Digital had overstated the profitability of its datacenter hosting business and its ability to successfully transition into a low-cost AI Cloud services provider; (2) Applied Digital’s Board of Directors was not independent within the meaning of NASDAQ listing rules; (3) accordingly, Applied Digital had overstated the efficacy of its business model and failed to maintain proper corporate governance standards; (4) the foregoing, once revealed, was likely to subject the Company to significant financial and/or reputational harm; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Shift4 Payments, Inc. (NYSE: FOUR)
Class Period: November 10, 2021 – April 18, 2023
Lead Plaintiff Deadline: October 19, 2023
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose: (1) Shift4 had inadequate disclosure controls and procedures and internal control over financial reporting; (2) as a result, Shift4 failed to properly account for customer acquisition costs, thereby artificially inflating its net cash provided by operating activities; (3) accordingly, Shift4 would likely be forced to restate one or more of its previously issued financial statements; (4) Shift4 employed accounting maneuvers in connection with, among other things, its mass strategic buyout program and sponsor bank merchant settlement account, that were designed to present an inaccurate picture of, inter alia, the Company’s performance, its underlying business quality, and its earnings power; (5) all the foregoing, once revealed, was likely to negatively impact Shift4’s reputation and business; and (6) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Comerica Incorporated (NYSE: CMA)
Class Period: February 9, 2021 – May 29, 2023
Lead Plaintiff Deadline: October 20, 2023
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) Comerica failed to provide meaningful oversight over the vendors to whom it contracted out day-to-day operations of the Direct Express program, a system through which it is contracted to provide federal benefits on debit cards to millions of Americans without bank accounts; (2) as a result of violations in the day-to-day operations of Direct Express, including handling fraud disputes and allowing sensitive data to be handled out of a vendor’s office in Pakistan, Comerica was not in compliance with the Federal Contract, and knew it was not in compliance; (3) Comerica knew and failed to disclose that it was in potential violation of Regulation E due to inadequate fraud prevention in the Direct Express program and responses to instances of fraud, and; (4) 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.
To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
