NEW YORK, NY / ACCESSWIRE / August 29, 2021 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.
Rocket Companies, Inc. (NYSE:RKT)
CONTACT JAKUBOWITZ ABOUT RKT :
https://claimyourloss.com/securities/rocket-companies-inc-loss-submission-form/?id=19070&from=1
Class Period : February 25, 2021 - May 5, 2021
Lead Plaintiff Deadline : August 30, 2021
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) Rocket's gain on sale margins were contracting at the highest rate in two years as a result of increased competition among mortgage lenders, an unfavorable shift toward the lower margin Partner Network operating segment and compression in the price spread between the primary and secondary mortgage markets; (b) Rocket was engaged in a price war and battle for market share with its primary competitors in the wholesale market, which was further compressing margins in Rocket's Partner Network operating segment; (c) the adverse trends identified above were accelerating and, as a result, Rocket's gain on sale margins were on track to plummet at least 140 basis points in the first six months of 2021; (d) as a result of the above, the favorable market conditions that had preceded the Class Period and allowed Rocket to achieve historically high gain on sale margins had vanished as the Company's gain on sale margins had returned to levels not seen since the first quarter of 2019; (e) rather than remaining elevated due to surging demand, Rocket's Company-wide gain-on-sale margins had fallen materially below recent historical averages; and (f) 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.
Ardelyx, Inc. (NASDAQ:ARDX)
CONTACT JAKUBOWITZ ABOUT ARDX :
https://claimyourloss.com/securities/ardelyx-inc-loss-submission-form/?id=19070&from=1
Class Period : August 6, 2020 - July 19, 2021
Lead Plaintiff Deadline : September 28, 2021
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: 1) the Company overstated the likelihood that tenapanor would be approved by the Food and Drug Administration ("FDA"); and 2) Defendants possessed, were in control over, and as a result, knew that the data submitted to support the New Drug Application was insufficient in that it showed a lack of clinical relevance of the drug's treatment effect, making it foreseeably likely that the FDA would not approve the drug.
Zymergen Inc. (NASDAQ:ZY)
CONTACT JAKUBOWITZ ABOUT ZY :
https://claimyourloss.com/securities/zymergen-inc-loss-submission-form/?id=19070&from=1
This lawsuit is on behalf of investors who purchased ZY common stock pursuant and/or traceable to the documents issued in connection with the Company's April 2021 initial public offering.
Lead Plaintiff Deadline : October 4, 2021
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) during the qualification process for the Company's optical film product, Hyaline, key customers had encountered technical issues, including product shrinkage and incompatibility with customers' processes; (2) though the qualification process was critical to achieving market acceptance for Hyaline and generating revenue, Zymergen lacked visibility into the qualification process; (3) as a result, the Company overestimated demand for its products; (4) as a result of the foregoing, the Company's product delivery timeline was reasonably likely to be delayed, which in turn would delay revenue generation; and (5) 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.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
SOURCE: Jakubowitz Law
View source version on accesswire.com:
https://www.accesswire.com/661843/LAWSUITS-FILED-AGAINST-RKT-ARDX-and-ZY--Jakubowitz-Law-Pursues-Shareholders-Claims
