CLASS ACTION UPDATE for CURV, SPPI and FXLV: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, NY / ACCESSWIRE / January 17, 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.
CURV Shareholders Click Here: https://www.zlk.com/pslra-1/torrid-holdings-class-action-submission-form?prid=35706&wire=1
SPPI Shareholders Click Here: https://www.zlk.com/pslra-1/spectrum-pharmaceuticals-lawsuit-submission-form?prid=35706&wire=1
FXLV Shareholders Click Here: https://www.zlk.com/pslra-1/f45-training-lawsuit-submission-form?prid=35706&wire=1
* ADDITIONAL INFORMATION BELOW *
Torrid Holdings Inc. (NYSE:CURV)
This lawsuit is on behalf of all persons who purchased Torrid common stock in or traceable to the Company's July 2021 initial public offering.
Lead Plaintiff Deadline: January 17, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/torrid-holdings-class-action-submission-form?prid=35706&wire=1
According to the filed complaint, (i) in the first half of 2021, Torrid had experienced a temporary surge in demand as a result of changed consumer behaviors in response to the COVID-19 pandemic and government stimulus and that such ephemeral demand trends had dissipated and were not internally projected to continue following the initial public offering ("IPO"); (ii) Torrid was suffering from severe supply chain disruptions caused by the emergence of the Delta variant of COVID-19, which had first emerged in May 2021; (iii) Torrid was running materially below historical inventory levels as a result of supply chain disruptions; (iv) as a result, Torrid did not have sufficient inventory to meet expected consumer demand for its fiscal third quarter of 2021; (v) as a result, late inventory arrival had materially impaired the Company from effectively matching consumer buying trends, creating an undisclosed risk of increased markdowns and promotional activities necessary to sell undesirable inventory; (vi) Torrid's Chief Financial Office planned to retire shortly after the IPO; and (vii) as a result of the above, representations made in the Company's registration statement regarding Torrid's historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, financial results, and trajectory of the Company at the time of the IPO, and were materially false and misleading and lacked a reasonable factual basis.
Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI)
This lawsuit is on behalf of all purchasers of Spectrum Pharmaceuticals, Inc. common stock during the period December 6, 2021 through September 22, 2022, inclusive.
Lead Plaintiff Deadline: February 3, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/spectrum-pharmaceuticals-lawsuit-submission-form?prid=35706&wire=1
According to the filed complaint, defendants were conducting a phase 2 clinical trial called ZENITH20, which was an ongoing, multicenter, multi-cohort, open-label, activity-estimating study evaluating the anti-tumor effects, safety, and tolerability of poziotinib in patients with locally advanced or metastatic non-small cell lung cancer that have certain mutations and were previously treated with the standard of care. Although defendants represented that the safety and efficacy data from the ZENITH20 trial were positive and that they had initiated a required confirmatory phase 3 study, on September 20, 2022, a briefing document from the United States Food and Drug Administration Oncologic Drugs Advisory Committee disclosed not only negative data on the safety and efficacy of poziotinib, but also a failure by the Company to enroll any patients in a required phase 3 confirmatory trial.
F45 Training Holdings Inc. (NYSE:FXLV)
This lawsuit is on behalf of all persons and entities that purchased or otherwise acquired the common stock of F45 pursuant and/or traceable to documents issued in connection with the Company's July 16, 2021 initial public offering.
Lead Plaintiff Deadline: February 6, 2023
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/f45-training-lawsuit-submission-form?prid=35706&wire=1
According to the filed complaint, 1) F45 Training could not maintain new franchise growth because it was offering more favorable payment terms to multi-unit franchisees; 2) F45 Training's lackluster pace of growth was also accompanied by a massive and unsustainable increase in F45 Training's accounts receivable and a similar, and equally unsustainable, decrease in its cash and cash equivalents; and 3) these practices were not sustainable at the time of the initial public offering, and when F45 Training could no longer sustain this defective business model, its growth rate and revenue plummeted.
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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