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DEADLINE ALERT for IRTC, XPOF, AMLX, LUXH: Law Offices of Howard G. Smith Reminds Investors of Class Actions on Behalf of Shareholders
Globe Newswire 4-Apr-2024 12:37 PM
BENSALEM, Pa., April 04, 2024 (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 215-638-4847 or by email to howardsmith@howardsmithlaw.com.
iRhythm Technologies, Inc. (NASDAQ:IRTC) Class Period: January 11, 2022 – May 30, 2023 Lead Plaintiff Deadline: April 8, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) iRhythm failed to comply with the FDA's marketing regulations and prohibitions against the promotion of products for uncleared and unapproved uses contrary to the representations it made to investors; (2) iRhythm failed to report adverse events to the FDA in violation of the reporting requirements of Medical Device Reporting regulations; and (3) 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.
Xponential Fitness, Inc. (NYSE:XPOF) Class Period: July 26, 2021 – December 7, 2023 Lead Plaintiff Deadline: April 9, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose: (1) that Xponential had permanently closed at least 30 stores; (2) that Xponential's reported SSS and AUV metrics had been misstated by excluding underperforming stores; (3) that 8 out of 10 Xponential brands were losing money monthly; (4) that over 50% of Xponential studios did not make a positive financial return; (5) that over 60% of Xponential's revenue was one-time and nonrecurring; (6) that more than 100 of the Company's franchises were for sale at a price that is at least 75% less than their initial cost; (7) that Xponential had misled many of its franchisees into opening franchises by misrepresenting the financial profile and profitability of its studios, as well as the expected rate of return for new studio openings; (8) that many Xponential franchisees were substantially in debt, suffering high attrition rates and running non-viable studios that had no realistic path to profitability; and (9) 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.
Amylyx Pharmaceuticals, Inc. (NASDAQ:AMLX) Class Period: November 11, 2022 – November 8, 2023 Lead Plaintiff Deadline: April 9, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) Defendants had overstated RELYVRIO's commercial prospects; (2) patients were discontinuing treatment with RELYVRIO after six months; (3) the rate at which new patients were starting treatment with RELYVRIO was decreasing; (4) accordingly, Defendants had also overstated RELYVRIO's prescription rate; (5) Defendants attempted to hide the foregoing negative trends from investors and the market by blocking analysts from viewing RELYVRIO's prescription data; 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.
LuxUrban Hotels Inc. (NASDAQ:LUXH) Class Period: November 8, 2023 – February 2, 2024 Lead Plaintiff Deadline: April 12, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company had not signed a lease with the Royalton Hotel; (2) that, as a result, LuxUrban's total reported units was overstated; (3) that LuxUrban faced multiple lawsuits for unpaid rent; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
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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