SAN DIEGO, Feb. 01, 2023 (GLOBE NEWSWIRE) -- National law firm Morris Kandinov is investigating Ginkgo Bioworks Holdings, Inc., APA Corporation, loanDepot, Inc., and Butterfly Network, Inc. If you are a current owner of shares, contact leo@moka.law.
Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) Accused of Misleading Shareholders
Morris Kandinov is investigating Ginkgo Bioworks Holdings, Inc. regarding possible breaches of fiduciary duties and other violations of law, including securities claims on behalf of shareholders. In May 2021, Ginkgo announced a business combination with Soaring Eagle Acquisition Corp. (NASDAQ: SRNG), which resulted in Ginkgo becoming a public company. On November 18, 2021, a lawsuit was filed against Ginkgo alleging that the defendants made false and/or misleading statements and/or failed to disclose that: (i) the company's failure to derive real revenue from third-party customers left it almost completely dependent on related parties; (ii) as a result, most, if not all, of the company's revenue came from related parties Ginkgo created, funded, or controlled through its ownership and board seats; (iii) Ginkgo was misclassifying and underreporting related party revenue in order to conceal the company's near total-dependence on related parties; (iv) many of Ginkgo’s new R&D partners are undisclosed related parties and/or façades; and (v) as a result, the Ginkgo’s valuation was significantly less than defendants disclosed to investors. On May 2, 2022, an amended complaint was filed and on July 18, 2022, a second amended complaint was filed. If you owned Soaring Eagle shares prior to their conversion to Ginkgo or purchased Ginkgo shares prior to April 2021, you may have standing for shareholder recovery. To learn more about this investigation and your rights, visit: https://moka.law/case-contact-form/. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. v
APA Corporation (NASDAQ: APA) Shareholder Lawsuit Update
On November 29, 2022, Judge George C. Hanks, Jr. of the United States District Court for the Southern District of Texas issued an order denying the defendants’ motion to dismiss in the pending securities class action against APA Corporation, paving the way for litigation to proceed. The securities class action alleges that defendants made misrepresentations about the company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors that: (1) APA intentionally used unrealistic assumptions regarding the amount and composition of available oil and gas in Alpine High; (2) APA did not have the proper infrastructure in place to safely and/or economically drill and/or transport those resources even if they existed in the amounts purported; and (3) these misleading statements and omissions artificially inflated the value of APA’s operations in the Permian Basin. If you purchased APA shares, you may have standing for shareholder recovery. To learn more about this investigation and your rights, visit: https://moka.law/case-contact-form/. All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
loanDepot, Inc. (NYSE: LDI) Shareholder Lawsuit Update
On January 24, 2023, Judge Josephine L. Staton of the United States District Court for the Central District of California issued an order denying in part the defendants’ motion to dismiss in the pending securities class action against loanDepot, Inc., paving the way for litigation to proceed. The securities class action alleges the Registration Statement that was filed in connection with loanDepot's initial public offering failed to disclose that loanDepot's loan originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition, that loanDepo's gain-on-sale margins had already declined substantially at the time of the IPO, that, as a result, the Company's revenue and growth would be negatively impacted, that that loanDepot had already been forced to embark on a significant expense reduction plan due to the significantly lower growth and refinance originations that the Company was experiencing, and 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. If you purchased loanDepot shares, you may have standing for shareholder recovery. To learn more about this investigation and your rights, visit: https://moka.law/case-contact-form/. All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
Butterfly Network, Inc. (NYSE: BFLY)
Morris Kandinov is investigating Butterfly Network, Inc. regarding possible breaches of fiduciary duties and other violations of law, including securities claims on behalf of shareholders. On November 20, 2020, Butterfly Network issued a press release announcing that it had entered into a merger agreement with Longview Acquisition Corp. On February 12, 2021, Longview shareholders voted to approve the merger. Following the consummation of the merger on February 16, 2021, Longview changed its name to "Butterfly Network, Inc." Prior to the merger, Longview's stock, warrants, and ownership units were traded publicly on the NYSE under the ticker symbols "LGVW.U," "LGVW," and "LGVW WT," respectively. If you owned Longview shares prior to their conversion to Butterfly Network, you may have standing for shareholder recovery. To learn more about this investigation and your rights, visit: https://moka.law/case-contact-form/. All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
Concerned shareholders are encouraged to contact Leo Kandinov to learn more:
leo@moka.law
(619) 780-3993
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.
Attorney Advertising. Past results do not guarantee a similar outcome.
Contact:
Leo Kandinov, Partner
leo@moka.law
619-780-3993
550 West B Street, 4th Floor
San Diego, CA 92101
moka.law
