CLASS ACTION UPDATE for UIS, RENT and CORZ: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, NY / ACCESSWIRE / January 6, 2023 / 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.
UIS Shareholders Click Here: https://www.zlk.com/pslra-1/unisys-corporation-lawsuit-submission-form?prid=35369&wire=1
RENT Shareholders Click Here: https://www.zlk.com/pslra-1/rent-the-runway-loss-submission-form?prid=35369&wire=1
CORZ Shareholders Click Here: https://www.zlk.com/pslra-1/core-scientific-class-action-submission-form?prid=35369&wire=1
* ADDITIONAL INFORMATION BELOW *
Unisys Corporation (NYSE:UIS)
UIS Lawsuit on behalf of: investors who purchased August 3, 2022 - November 7, 2022
Lead Plaintiff Deadline : January 10, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/unisys-corporation-lawsuit-submission-form?prid=35369&wire=1
According to the filed complaint, during the class period, Unisys Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) the Company's 2022 financial guidance was significantly overstated; (ii) accordingly, once the truth was revealed, it was likely that the Company would be required to negatively revise its 2022 financial guidance; (iii) in addition to the foregoing, material weaknesses existed in the Company's internal control over financial reporting; and (iv) as a result of all of the foregoing, the Company's public statements were materially false and misleading at all relevant times.
Rent the Runway, Inc. (NASDAQ:RENT)
This lawsuit is on behalf of all persons or entities who purchased Rent the Runway Class A common stock in or traceable to the Company's October 2021 initial public offering.
Lead Plaintiff Deadline : January 13, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/rent-the-runway-loss-submission-form?prid=35369&wire=1
According to the filed complaint, (i) Rent the Runway was continuing to face extraordinary business headwinds, such as transportation headwinds and labor wage rate increases, from the COVID-19 pandemic; (ii) Rent the Runway's active subscriber enrollments had sharply decelerated from the growth trajectory represented in the offering documents and, as a result, Rent the Runway was several months away from approaching its pre-pandemic levels of active subscriptions; (iii) Rent the Runway needed to substantially increase marketing and advertising costs from historical figures in order to attempt to grow its active subscriber network; (iv) Rent the Runway was suffering from ballooning fulfillment and transportation costs; and (v) as a result, Rent the Runway was suffering accelerating operational losses at the time of the initial public offering and was far less likely to achieve profitability in the near term, if ever, than represented.
Core Scientific, Inc. (NASDAQ:CORZ)
CORZ Lawsuit on behalf of: investors who purchased January 3, 2022 - October 26, 2022
Lead Plaintiff Deadline : January 13, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/core-scientific-class-action-submission-form?prid=35369&wire=1
According to the filed complaint, during the class period, Core Scientific, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) due in part to the expiration of a favorable pricing agreement, the Company was experiencing increasing power costs; (2) the Company's largest customer, Gryphon Digital Mining, lacked the financial resources to purchase the necessary miner rigs for Core Scientific to host; (3) the Company was not providing hosting services to Celsius Network LLC ("Celsius") as required by their contract; (4) the Company had implemented an improper surcharge to pass through power costs to Celsius; (5) as a result of the foregoing alleged breaches of contract, the Company was reasonably likely to incur liability to defend itself against Celsius; (6) as a result of the foregoing, the Company's profitability would be adversely impacted; (7) as a result, there was likely substantial doubt as to the Company's ability to continue as a going concern; and (8) as a result of the foregoing, defendant's positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
SOURCE: Levi & Korsinsky, LLP
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