SAN DIEGO, Nov. 24, 2021 (GLOBE NEWSWIRE) -- National law firm Morris Kandinov is investigating the actions of the officers and board of directors of Match Group, Inc., eHealth, Inc., Corcept Therapeutics, Inc., and TransDigm Group Incorporated. If you are a current owner of shares of any of these stocks, contact leo@moka.law or call (619) 708-3993.
Match Group, Inc. (NASDAQ: MTCH) Accused of Misleading Investors
On November 19, 2021, Judge Karen Gren Scholer of the United States District Court for the Northern District of Texas issued an order denying the defendants’ motion to dismiss in the pending securities class action against Match Group, Inc., paving the way for litigation to proceed. The securities class action alleges that Match turned a blind eye to a fraudulent user base in favor of profit. The proposed class of Match investors sued March in October 2019, arguing that a U.S. Federal Trade Commission complaint over the company's alleged use of fake advertisements led to the company's stock price dropping. Specifically, Match and two executives were accused of violating federal securities laws when the company failed to disclose that it used fake love interest ads to coerce users into purchasing or upgrading premium subscriptions. The investors said the ads were sent to users' email inboxes, implying they received a potential match that was only accessible after paying for a subscription. The investors also said Match failed to inform them of the potential consequences of the ads, which were made public when the FTC sued the company in September 2019. In addition to the pending securities class action, founders of dating app Tinder are suing the company alleging they were conned by executives from Barry Diller's IAC/InterActiveCorp and Match who purposely lowballed a valuation to cheat the group out of billions of dollars. Morris Kandinov is investigating Match regarding possible breaches of fiduciary duties and other violations of law, on behalf of shareholders. To learn more about this investigation and your rights, visit: https://moka.law/case-contact-form/. Representation is contingency based, no out of pocket costs.
eHealth, Inc. (NASDAQ: EHTH) Accused of Misleading Investors
On August 12, 2021, Judge Jon S. Tigar of the United States District Court for the Northern District of California issued an order denying in part the defendants’ motion to dismiss in the pending securities class action against eHealth, Inc., paving the way for litigation to proceed. eHealth is a private online marketplace for health insurance. On April 8, 2020, Muddy Waters Capital published a report alleging that eHealth’s "highly aggressive accounting masks . . . a significantly unprofitable business," "that the key driver of growth since 2018 has been [eHealth’s] reliance on Direct Response television advertising, which attracts an unprofitable, high churn enrollee," and that eHealth’s "assumptions in its LTV model seem highly aggressive when compared to reality." On this news, the Company’s stock price fell $27.37, or 21%, to close at $103.20 per share on April 8, 2020, thereby injuring investors. Then on July 23, 2020, eHealth announced its financial results for second quarter 2020 which confirmed substantive aspects of the "member churn" allegations contained in the Muddy Waters report. On this news, the Company’s stock price fell $34.83, or 30%, to close at $79.17 per share on July 24, 2020, thereby injuring investors further. The stock has continued to plummet and now trades around $22 a share. Morris Kandinov is investigating eHealth regarding possible breaches of fiduciary duties and other violations of law, on behalf of shareholders. To learn more about this investigation and your rights, visit: https://moka.law/case-contact-form/. Representation is contingency based, no out of pocket costs.
Corcept Therapeutics, Inc. (NASDAQ: CORT) Accused of Misleading Investors
On August 24, 2021, Judge Lucy Koh of the United States District Court for the Northern District of California issued an order denying in part the defendants’ motion to dismiss in the pending securities class action against Corcept Therapeutics, Inc., paving the way for litigation to proceed. Corcept is a pharmaceutical company that develops medications to treat severe metabolic, oncologic, and psychiatric disorders. On March 14, 2019, a lawsuit was filed against Corcept over alleged securities laws violations. The plaintiff alleged that Corcept had improperly paid doctors to promote its drug Korlym, that the company aggressively promoted Korlym for off-label uses, that the company’s sole specialty pharmacy was a related party, that the company artificially inflated its revenue and sales using illicit sales practices through a related party, and that such practices are reasonably likely to lead to regulatory scrutiny. Morris Kandinov is investigating Corcept regarding possible breaches of fiduciary duties and other violations of law, on behalf of shareholders. To learn more about this investigation and your rights, visit: https://moka.law/case-contact-form/. Representation is contingency based, no out of pocket costs.
TransDigm Group Incorporated (NYSE: TDG) Shareholder Rights Investigation
Morris Kandinov is investigating TransDigm Group Incorporated regarding corporate governance failures, possible breaches of fiduciary duties and other violations of law. An investor has sued the TransDigm’s top officers and directors in Delaware's Chancery Court, in a derivative action accusing them of breaching their duty to the company and abusing their positions through "self-interested and excessive compensation." Compensation to TransDigm's 10 non-employee directors, along with its executive chairman, W. Nicholas Howley, and the company's president and CEO, Kevin Stein, included stock and options described as far exceeding any in the company's self-selected peer group for proxy comparisons. Howley was described as pulling in a "staggering" $68.1 million in the company's 2020 fiscal year, while Stein received $22 million. The company has been facing questions about its compensation policies for some time. A "say-on-pay" advisory vote on compensation for named executive officers netted a 57% "against vote" in March, according to a filing with the Securities and Exchange Commission. According to the complaint, Howley's fiscal 2020 total compensation "was not only more than seven times the median highest-paid executive compensation among the companies in the proxy peer group, but it was also significantly higher" than general industry peers. The complaint further states that nonemployee directors received an average $785,318 in compensation in 2020, well above the industry "peer median" of $284,551, while Stein's package of more than $22 million compared with a peer median of about $9.4 million. Moreover, Howley's pay was more than seven times the median CEO pay and more than five times the median for S&P 500 CEO pay, the complaint states. To learn more about this investigation and your rights, visit: https://moka.law/case-contact-form/. Representation is contingency based, no out of pocket costs.
Concerned shareholders are encouraged to contact Leo Kandinov to learn more:
leo@moka.law
(619) 708-3993
moka.law
Morris Kandinov LLP is a national law firm that specializes in recovering investment losses and protecting stockholder rights. We work on contingency (i.e., you do not pay our fees out-of-pocket), and our attorneys have made substantial recoveries for investors in jurisdictions across the country. The firm would be happy to further discuss these matters, and any legal rights or remedies potentially available to you, at no charge.
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Contact:
Leo Kandinov, Partner
leo@moka.law
619-708-3993
550 West B Street, 4th Floor
San Diego, CA 92101
moka.law
