NEW YORK, March 07, 2023 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP reminds investors that securities class action lawsuits have been filed on behalf of investors in securities of Fate Therapeutics Inc., National Vision Holdings, Inc., PLDT Inc., and Y-mAbs Therapeutics, Inc. Investors have until the deadlines below to apply to the Court to be appointed as lead plaintiff in the lawsuits. Additional information about each case can be found at the links provided below.
Fate Therapeutics Inc. (“Fate”) (NASDAQ: FATE)
Class Period: April 2, 2020 to January 5, 2023
Pending Court: U.S. District Court for the Southern District of California
Lead Plaintiff Deadline: March 22, 2023
The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose that: (i) the Janssen Collaboration Agreement, a global collaboration and option agreement with Janssen Biotech, Inc. from which Fate was eligible for billions in milestone payments and double-digit royalties, was less sustainable than Fate had represented to investors; and (ii) accordingly, certain clinical programs, milestone payments, and royalty payments associated with the Janssen Collaboration Agreement could not be relied upon as future revenue sources.
For additional information on the Fate lawsuit, please visit this website.
National Vision Holdings, Inc. (National Vision) (NASDAQ: EYE)
Class Period: May 13, 2021 to May 9, 2022
Pending Court: U.S. District Court for the Northern District of Georgia
Lead Plaintiff Deadline: March 28, 2023
The lawsuit alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about National Vision’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that National Vision was experiencing extraordinary wage and labor pressures as a result of intense competition and disruptions in the labor market due to the COVID-19 pandemic; (2) that National Vision had made a significant multi-million dollar investment in wage and compensation payments to its vision care professionals in order to prevent mass defections in the middle of 2021; (3) that the enhanced payouts were expected to negatively impact National Vision’s fourth quarter 2021 costs and profit margins to an extent materially greater than what had been disclosed to investors; (4) that, as a result, National Vision’s profitability metrics were expected to deteriorate below not only favorable 2020 results, but also pre-pandemic levels; and (5) that National Vision’s recruitment and retention efforts had not been successful and there was a substantial undisclosed risk that National Vision would experience staff and optometrist shortages and capacity constraints.
For additional information on the National Vision lawsuit, please visit this website.
PLDT Inc. (PLDT) (NYSE: PHI)
Class Period: January 1, 2019 to December 19, 2022
Pending Court: U.S. District Court for the Central District of California
Lead Plaintiff Deadline: April 7, 2023
The lawsuit alleges that, throughout the Class Period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) there were capital spending budget overruns; and (2) Defendants had failed to address weaknesses that allowed such budget overruns.
For additional information on the PLDT lawsuit, please visit this website.
Y-mAbs Therapeutics, Inc. (“Y-mAbs”) (NASDAQ: YMAB)
Class Period: October 6, 2020 to October 28, 2022
Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: March 20, 2023
The lawsuit alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose that: (i) the FDA had repeatedly advised Y-mAbs that the treatment of effect of omburtamab cannot be objectively established or quantified based on the methods Y-mAbs were utilizing; (ii) Study 101 was neither sufficiently advanced nor indicative of efficacy to justify approval; and (iii) Y-mAbs had elected to submit the March 31, 2022 biologics license application prior to reaching agreement with the FDA on the content of the application.
For additional information on the Y-mAbs lawsuit, please visit this website.
About Kirby McInerney LLP:
Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
[email protected]
www.kmllp.com
