Verizon Communications Inc
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Communication Services : Diversified Telecommunication Services | Large Cap Value
Company profile

Verizon Communications Inc. is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its reportable segments are Verizon Consumer Group and Verizon Business Group. Its Consumer segment provides wireless and wireline communications services. Its wireless services are provided across wireless networks in the United States (U.S.) under the Verizon brand. Its wireline services are provided in nine states in the Mid-Atlantic and Northeastern U.S., as well as Washington D.C., over its fiber-optic network under the Fios brand and over a traditional copper-based network. Its Business segment provides wireless and wireline communications services and products, including data, video and conferencing services, security and managed network services, local and long-distance voice services and network access to deliver various Internet of Things services and products.

Premarket

Last Trade
Delayed
$50.76
-0.03 (-0.06%)
Bid
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Closing Price
$50.79
Day's Change
0.00 (0.00%)
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Volume
(Light)
Volume:
7,902

10-day average volume:
24,901,801
7,902

SHAREHOLDER ALERT: Robbins LLP Reminds Shareholders of Upcoming Lead Plaintiff Deadline in Class Action Against Longeveron Inc. (LGVN)

12:07 pm ET November 8, 2021 (Accesswire) Print

SAN DIEGO, CA / ACCESSWIRE / November 8, 2021 / Shareholder rights law firm Robbins LLP reminds investors of the class action filed on behalf of all persons and entities that purchased Longeveron Inc. (NASDAQ:LGVN) Class A common stock pursuant to or traceable to the Company's February 12, 2021 initial public offering ("IPO"), or between February 12, 2021 and August 12, 2021. Longeveron is a clinical stage biotechnology company that engages in developing cellular therapies for aging-related and life-threatening conditions. The Company's lead investigational product is Lomecel-B, which is currently in Phase 2b of its trial ("Phase 2b Aging Frailty Trial").

Image: https://www.accesswire.com/users/newswire/images/671598/robbinsllp.png

If you purchased shares of Longeveron (LGVN) pursuant to the Company's February 12, 2021 IPO, or between February 12 and August 12, 2021, you have until November 12, 2021, to ask the court to appoint you lead plaintiff for the class. All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

Longeveron Inc. (LGVN) Materially Misrepresented the Viability of its Lead Product Lomecel-B

According to the complaint, Longeveron conducted its IPO on February 12, 2021, issuing 2.66 million Class A shares at $10.00 per share, for approximate proceeds of $24.7 million. However, defendants negligently prepared the Offering Documents in connection with the IPO. Specifically, defendants failed to disclose that: (i) Lomecel-B was not as effective in treating aging frailty as defendants had led investors to believe; (ii) accordingly, Lomecel-B's clinical and commercial prospects with respect to aging frailty were overstated; and (iii) as a result, the Offering Documents and defendants' public statements during the class period were materially false and misleading.

On August 13, 2021, Longeveron issued two press releases - one announcing topline results of the Phase 2b Againg Frailty Trial and one addressing the Company's financial results for the second quarter of 2021. Both press releases disclosed that Lomecel-B had "not achiev[ed] . statistical significance for the pairwise comparison to placebo" with respect to the primary efficacy endpoint. On this news, Longeveron's stock price fell almost 28%, to close at $3.90 per share on August 13, 2021, representing a 61% total decline from the IPO price.

Contact us to learn more:

Aaron Dumas

(800) 350-6003

adumas@robbinsllp.com

Shareholder Information Form

About Robbins LLP : A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Longeveron Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contact:

Aaron Dumas

Robbins LLP

5040 Shoreham Place

San Diego, CA 92122

adumas@robbinsllp.com

(800) 350-6003

www.robbinsllp.com

Image: https://www.accesswire.com/users/newswire/images/671598/image.pngImage: https://www.accesswire.com/users/newswire/images/671598/image-1.png

SOURCE: Robbins LLP





View source version on accesswire.com:

https://www.accesswire.com/671598/SHAREHOLDER-ALERT-Robbins-LLP-Reminds-Shareholders-of-Upcoming-Lead-Plaintiff-Deadline-in-Class-Action-Against-Longeveron-Inc-LGVN



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COMTEX_396520574/2457/2021-11-08T12:07:06

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