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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Moderna, Lululemon, XPEL, and Nano Nuclear and Encourages Investors to Contact the Firm
Globe Newswire 13-Sep-2024 9:00 PM
NEW YORK, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Moderna, Inc. (NASDAQ:MRNA), Lululemon Athletica Inc. (NASDAQ:LULU), XPEL, Inc. (NASDAQ:XPEL), and Nano Nuclear Energy Inc. (NASDAQ:NNE). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, the Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) mRNA-1345 was less effective than Defendants had led investors to believe; (2) accordingly, mRNA-1345's clinical and/or commercial prospects were overstated; and (3) as a result, the Company's public statements were materially false and misleading at all relevant times.
According to the complaint, during the class period, defendants failed to disclose to investors: (1) that the Company was struggling with inventory allocation issues and color palette execution issues; (2) that, as a result, the Company's Breezethrough product launch underperformed; (3) that, as a result of the foregoing, the Company was experiencing stagnating sales in the Americas region; 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.
Plaintiff alleges that the Company's stock suffered significant loss after defendants disclosed its financial results for the fourth quarter and full year ended January 28, 2024. Further, after reports regarding the Company's inconsistent inventory allocation and the Company's decision to "pause on sales [of the Breezethrough yoga wear] for now to make any adjustments necessary to deliver the best possible product experience," the stock again declined.
According to the Complaint, the Company made false and misleading statements to the market. XPEL touted its ability to increase its market share penetration by reaching customers outside of the enthusiast car market. The Company claimed this ability would substantially grow revenues in 2023 and 2024. The Company would eventually admit that it was losing customers in the aftermarket channel. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. The complaint alleges that when the market learned the truth about XPEL, investors suffered damages.
The suit alleges that throughout the Class Period, Defendants made false and/or misleading statements, and failed to disclose material facts, including that: 1) Nano Nuclear Energy, Inc.'s purported progress toward regulatory approval for the design of its planned micro reactors and fuel fabrication plant was nonexistent; 2) Nano Nuclear Energy, Inc.'s timelines for commercialization were wildly optimistic, at best, and most likely impossible; 3) the foregoing issues were likely to have a material negative impact on the Company's projected revenues and growth; 4) as a result, the Company's financial position and/or prospects were overstated; and 5) as a result, Defendants' public statements were materially false and misleading at all relevant times. The suit further alleges that when the truth emerged, Nano Nuclear Energy, Inc. shares fell significantly, damaging investors according to the allegations of the suit.
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
