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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against FMC, TransMedics, Alarum, and Constellation and Encourages Investors to Contact the Firm
Globe Newswire 25-Feb-2025 9:00 PM
NEW YORK, Feb. 25, 2025 (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 FMC Corporation (NYSE:FMC), TransMedics Group, Inc. (NASDAQ:TMDX), Alarum Technologies Ltd. (NASDAQ:ALAR), and Constellation Brands, Inc. (NYSE:STZ). 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.
Class Period: November 16, 2023 - February 4, 2025
Lead Plaintiff Deadline: April 14, 2025
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants allegedly failed to disclose to investors: (1) the Company's channel management initiatives were not progressing as represented; (2) that, faced with pricing pressure, the Company had made the decision not to compete on prices and instead walk away from sales opportunities; (3) that, as a result, the Company had inflated inventory in the channels in "LATAM, including Brazil, Asia, including India, as well as Canada and Eastern Europe;" 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.
Class Period: February 28, 2023 - January 10, 2025
Lead Plaintiff Deadline: April 15, 2025
According to the lawsuit, defendants throughout the Class Period made materially false and/or misleading statements and/or failed to disclose that: (1) TransMedics used kickbacks, fraudulent overbilling, and coercive tactics to generate business and revenue; (2) TransMedics engaged in unsafe practices and hid safety issues and generally lacked safety oversight; (3) the foregoing subjected TransMedics to heightened risk of scrutiny and regulatory risk; and (4) as a result, defendants' statements about TransMedics' business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
According to the lawsuit, throughout the Class Period, defendants made false and misleading statements and/or failed to disclose that: (1) Alarum was less effective in retaining and/or expanding customer engagements than it had represented to investors; (2) the foregoing would impair Alarum's ability to generate consistent revenue growth; (3) accordingly, Alarum's business and/or financial prospects were overstated; and (4) as a result, Alarum's public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
According to the complaint, defendants provided investors with material information concerning Constellation's full year 2024 fiscal results and financial outlook for 2025 which was based in material part on defendants enhanced focus on improving mix, inventory and sales execution in its Wine and Spirits business, specifically focusing efforts within its premium and above brands to drive more consistent growth. Additionally, defendants made investments in media spend and price promotions as well as adjustments in sales capabilities to support distributor partners.
On January 8, 2025 defendants issued a press release announcing the Company's third quarter fiscal year 2025 results. In pertinent part, defendants presented a significant miss on sales performance in the Beer segment and an even steeper miss for the Wine & Spirits.
Following this news, the price of Constellation's common stock declined dramatically. From a closing market price of $219.28 per share on January 8, 2025 to $181.81 per share on January 10, 2025.
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.
