SAN DIEGO, June 01, 2023 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP, a law firm specializing in shareholder rights, has announced the initiation of class action lawsuits on behalf of investors of the following companies. Investors are encouraged to review the deadlines listed and submit their information.
If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
Vertex Energy, Inc. (NASDAQ: VTNR):
Class Period: April 1, 2022 and August 8, 2022
Lead Plaintiff Deadline: June 12, 2023
Plaintiff alleges that, throughout the Class Period, Defendants failed to disclose, among other things, that prior to the acquisition of the Mobile refinery, Defendants had entered into inventory and crack spread hedging derivatives that significantly capped the profit margins on 50% of the Mobile refinery’s expected output over the period April 1, 2022 to September 30, 2022, affecting over 6.5 million barrels of refined fuel output.
Hesai Group (NASDAQ: HSAI):
Class Period: Pursuant to the February IPO
Lead Plaintiff Deadline: June 6, 2023
According to the complaint, while the Company stated that margins may decrease, the registration statement issued in support of the Company’s IPO failed to disclose the extent to which it might decrease or that its gross margin decrease was caused by a lower in-house utilization rate. Further, Hesai Group’s gross margin was 30% for the fourth quarter—which was completed over a month before the date of the amended registration statement.
Allbirds, Inc. (NASDAQ: BIRD)
Class Period: Pursuant to the November IPO
Lead Plaintiff Deadline: June 12, 2023
The complaint filed in this class action alleges that in the Registration Statement and 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 failed to disclose to investors: (1) that Allbirds was overemphasizing products that extended beyond the Company’s core offerings; (2) that the Company’s non-core products had a narrower appeal and were not resonating with customers as well as the Company’s core products; (3) that Allbirds was underinvesting in its core consumers’ favorite products to push the Company’s newer products with narrower appeal; (4) that underinvesting in Allbirds’ core products was negatively impacting the Company’s sales; and (5) 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.
A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
For more information regarding the lead plaintiff process please refer to https://www.johnsonfistel.com/lead-plaintiff-deadlines.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
Investor Relations
jimb@johnsonfistel.com
