Latest news with #SecuritiesExchangeAct
Associated Press
10 hours ago
- Business
- Associated Press
INVESTOR ALERT: Robbins Geller Rudman & Dowd LLP Announces that Apple Inc. Investors with Substantial Losses Have Opportunity to Lead Class Action Lawsuit
SAN DIEGO--(BUSINESS WIRE)--Jun 23, 2025-- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Apple Inc. (NASDAQ: AAPL) securities between June 10, 2024 and June 9, 2025, both dates inclusive (the 'Class Period'), have until August 19, 2025 to seek appointment as lead plaintiff of the Apple class action lawsuit. Captioned Tucker v. Apple Inc., No. 25-cv-05197 (N.D. Cal.), the Apple class action lawsuit charges Apple and certain of Apple's top current and former executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Apple class action lawsuit, please provide your information here: You can also contact attorneysJ.C. SanchezorJennifer N. Caringalof Robbins Geller by calling 800/449-4900 or via e-mail at[email protected]. CASE ALLEGATIONS: The Apple class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Apple misstated the time it would take to integrate the advanced artificial intelligence ('AI')-based Siri features into its devices; (ii) accordingly, it was highly unlikely that these features would be available for the iPhone 16; (iii) the lack of such advanced AI-based features would hurt iPhone 16 sales; and (iv) as a result, Apple's business and/or financial prospects were overstated. The Apple class action lawsuit further alleges that on March 7, 2025, Apple announced it was indefinitely delaying promised updates to its Siri digital assistant. The Apple class action lawsuit alleges that on this news, the price of Apple stock fell. Then, on March 12, 2025, the Apple class action lawsuit further alleges that Morgan Stanley published a report in which analyst Erik Woodring lowered his price target on Apple from $275 to $252, asserting that the delay in introducing advanced Siri features would impact iPhone upgrade cycles throughout 2025 and 2026, and presenting evidence that roughly 50% of iPhone owners who did not upgrade to the iPhone 16 attributed their decision to such delays. On this news, the price of Apple stock fell further, according to the complaint. Thereafter, the Apple class action lawsuit alleges that on April 3, 2025, the Wall Street Journal published an article titled 'Apple and Amazon Promised Us Revolutionary AI. We're Still Waiting,' which stated, in relevant part, that '[w]ith 'more personal' Siri . . . , the tech giant[] marketed features [it] ha[s] yet to deliver,' and suggested that while 'this is challenging technology and the cost of getting it wrong is devastatingly high, especially for [a] compan[y] like Apple . . . that must build trust with customers,' 'the same responsibility applies to marketing: They shouldn't announce products until they're sure they can deliver them.' On this news, the price of Apple stock fell more than 7%, according to the complaint. Finally, on June 9, 2025, Apple hosted its Worldwide Developer Conference ('WWDC'), almost one year to the day after first announcing the suite of supposedly forthcoming Apple Intelligence features at the 2024 WWDC, and Apple failed to announce any new updates regarding advanced Siri features, according to the complaint. On this news, the price of Apple stock fell further, according to the complaint. Last year, Robbins Geller secured a $490 million recovery in a securities fraud class action case alleging Apple CEO Timothy Cook made false and misleading statements to investors – the third-largest securities class action recovery ever in the Northern District of California and the fifth-largest such recovery ever in the Ninth Circuit. In the order granting final approval of the settlement, the court recognized the 'skill and strategic vision, as well as the risk taken by [Robbins Geller]' in securing the sizeable recovery while efficiently managing the 'uniquely complex' aspects of the case against 'highly sophisticated and experienced counsel and defendants.' Learn more by clicking here. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Apple securities during the Class Period to seek appointment as lead plaintiff in the Apple class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Apple class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Apple class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Apple class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. View source version on CONTACT: Robbins Geller Rudman & Dowd LLP J.C. Sanchez, Jennifer N. Caringal 655 W. Broadway, Suite 1900, San Diego, CA 92101 800-449-4900 [email protected] KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL SOURCE: Robbins Geller Rudman & Dowd LLP Copyright Business Wire 2025. PUB: 06/23/2025 05:25 AM/DISC: 06/23/2025 05:24 AM
Yahoo
03-06-2025
- Business
- Yahoo
Indiana comptroller calls for SEC to delist Chinese companies
Comptroller Elise Nieshalla testifies before the Senate Elections Committee on Monday, Jan. 13, 2025. (Leslie Bonilla Muñiz/Indiana Capital Chronicle) Indiana, alongside 20 other states, penned a letter last month urging the Securities and Exchange Commission to investigate delisting China-based companies on U.S. stock exchanges 'to protect American investors.' Indiana Comptroller Elise Nieshalla and other state financial officers said there is a growing risk posed by the China-based companies due to Chinese Communist Party interference and widespread failures to meet U.S. transparency, accounting and auditing standards. 'As stewards of invested public funds, we have a responsibility to protect our beneficiaries from foreign entities to seek to exploit our capital markets while evading accountability,' Nieshalla said in a press release. CONTACT US The letter highlights the Chinese Communist Party's crackdown on independent due-diligence firms and points to findings by the Public Company Accounting Oversight Board that revealed auditing failures among Chinese companies. It also states that the CCP's systematic use of Variable Interest Entities — an organization that is controlled through contractual agreements rather than direct ownership — prevents U.S. investors from owning the company. The state financial officers also direct the SEC to investigate potential violations of the Securities Exchange Act, including disclosure of controls and procedures, internal financial reporting mechanisms, falsified accounting records and manipulative or deceptive practices. They alleged that the CCP's efforts to suppress transparency exacerbated these issues. 'As state financial officers, part of our responsibility is to ensure that the American people's finances – and our American financial system – are protected from foreign actors who mean to do us harm,' the signatories said in the letter. Indiana has recently purged Chinese companies from state investments. In 2023, legislation was passed that required the Indiana Public Retirement System to divest from any entities that do military or intelligence work or are controlled by the Chinese government. Within a year, INPRS eliminated its $1.2 billion worth of investments in Chinese entities. Delisting-Letter SUBSCRIBE: GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX
Business Wire
03-06-2025
- Business
- Business Wire
Hagens Berman Sobol Shapiro LLP and Scott+Scott Attorneys at Law LLP Announce a Class Action for All Vaxart Shareholders that May Include You, Even if You Participated in the Previous Partial Settlement with Vaxart
NEW YORK--(BUSINESS WIRE)--Hagens Berman Sobol Shapiro LLP & Scott+Scott Attorneys at Law LLP: UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA THIS NOTICE PROVIDES ONLY LIMITED INFORMATION ABOUT THE CASE The Court has certified this lawsuit as a class action for Vaxart shareholders that may include you, even if you participated in the previous partial settlement with Vaxart. This notice summarizes your rights and options, but please visit for more detailed information. If you're included in the Class or Subclass (defined below) and do nothing, you will be bound by whatever results are reached in this class action. However, if you want to be free to bring your own separate suit (at your expense) against the Armistice Defendants (defined below) on the claims at issue, you must submit a 'request for exclusion' by July 25, 2025. There is no money available now, and there may never be any. Wasn't there a previous settlement? Yes. In 2023, the Court previously approved a partial settlement with Vaxart and certain of its current or former officers and directors. The deadline to collect from or opt out of that settlement has passed. Meanwhile, Plaintiffs continued to litigate claims against the non-settling defendants Armistice Capital, LLC, Armistice Capital Master Fund, Armistice's owner and founder Steven Boyd, and Armistice's managing director Keith Maher (collectively, 'Armistice Defendants'). If Plaintiffs obtain a trial verdict or settlement, you may get a share of the recovery from the Armistice Defendants even if you participated in the previous partial settlement. What is this case against the Armistice Defendants about? Plaintiffs claim the Armistice Defendants violated Sections 10(b) & 20A of the Securities Exchange Act. The Armistice Defendants deny they did anything wrong. The Court has not decided whether Plaintiffs or the Armistice Defendants are right. Plaintiffs, on behalf of themselves and the Class, will have to prove their claims at a trial beginning on October 27, 2025. Are you affected? All persons or entities who (i) purchased or otherwise acquired publicly traded Vaxart common stock, or (ii) purchased call options or sold put options thereon, between June 25 and July 24, 2020 inclusive (the 'Class Period'), and were damaged thereby, are members of the Class. Any members of the Class who purchased contemporaneously with the Armistice Defendants' June 26 and 29, 2020 sales of Vaxart common stock and were damaged thereby are also members of the Subclass. Who represents you? The Court appointed the law firms of Hagens Berman Sobol Shapiro LLP and Scott+Scott Attorneys at Law LLP as 'Class Counsel' to represent you and all Class and Subclass members. You do not have to pay Class Counsel (or anyone else) to have your interests represented in this Action. If a recovery is obtained in this Action, the Court will direct that any attorneys' fees and costs will be paid from any such recovery. However, if instead you submit a 'request for exclusion' (see below), you may hire your own lawyer (at your expense) to bring your own claims against the Armistice Defendants separately. What are your options? (1) You can either stay in the class action OR (2) you can ask to be excluded. If you stay in the Class, you will be bound by all Court decisions reached in it, and you won't be able to sue the Armistice Defendants for the same legal claims that are the subject of this lawsuit. To stay in the Class, you don't have to do anything now, and you will be notified later, on how to collect a share of the Class's recovery, if any, that may be obtained. If you want to be excluded, then you must submit a 'request for exclusion' by July 25, 2025 (see instructions below). If you do, the Court will exclude you from the Class (including the Subclass, if applicable). If you exclude yourself, you cannot get a share of the recovery, if any, obtained in this Action, but you will be free to sue the Armistice Defendants on the same claims (at your own expense) and will not be bound by any orders or judgments entered in this class action. To exclude yourself, you must send a written request stating that you 'request to be excluded from the Class in In re Vaxart Securities Litigation.' To be valid, your request must also include your name, address, telephone number, your signature, and copies of documents (do not send originals) sufficient to show how many shares of Vaxart common stock (and how many put or call options, if any) you purchased and/or sold between June 25 and July 24, 2020, inclusive. You must submit your exclusion request so that it is received no later than July 25, 2025. There are three ways to submit your exclusion request: (i) mail it to Vaxart Securities Litigation, EXCLUSIONS, c/o A.B. Data, Ltd., P.O. Box 173001, Milwaukee, WI 53217; (ii) submit it on the web portal accessible at or (iii) email it to exclusion@ Unless otherwise ordered by the Court, your exclusion request must comply with the above requirements to be valid. Please note that you cannot exclude yourself on the phone. How can you get more information? If you have questions or seek additional information about this action (including the operative Complaint, the Armistice Defendants' Answer, and selected Orders of the Court to date), visit write to Vaxart Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173133, Milwaukee, WI 53217; or call 877-388-1723.
Hans India
30-05-2025
- Business
- Hans India
SEBI Cracks Down on Pump-and-Dump Scam Involving Bollywood Actor Arshad Warsi
In a sweeping regulatory move, the Securities and Exchange Board of India (SEBI) has barred Bollywood actor Arshad Warsi, his wife Maria Goretti, and 57 other individuals from participating in the securities market for periods ranging from one to five years. This action comes after SEBI's investigation into a pump-and-dump scheme linked to Sadhna Broadcast Ltd, now renamed Crystal Business System Ltd. The Pump-and-Dump Scheme: What Happened According to SEBI's final order issued on Thursday, the scheme involved a coordinated effort to artificially inflate the price of Sadhna Broadcast shares through misleading YouTube videos, generating public interest and driving retail investors to buy in. Once the price spiked, key players dumped their shares at inflated prices, pocketing massive profits before the stock crashed. SEBI's probe covered the period between March 8, 2022, and November 30, 2022. Who Benefited and What Are the Penalties? Gaurav Gupta emerged as the largest beneficiary, making a profit of Rs 18.33 crore. Sadhna Bio Oils Pvt. Ltd gained Rs 9.41 crore. SEBI ordered disgorgement of Rs 58.01 crore in unlawful gains from all 59 entities involved, with 12% annual interest from the end of the investigation period until full payment. Arshad Warsi and Maria Goretti were each fined Rs 5 lakh. These penalties are part of SEBI's broader crackdown on fraudulent market activities that harm retail investors and undermine market integrity. What Is a Pump-and-Dump Scheme? Pump and dump is a form of securities fraud where the price of a stock or other asset is artificially inflated so insiders can sell at a profit, followed by a sharp decline in value that leaves unsuspecting investors with significant losses. How It Works: Pump: Insiders or coordinated groups spread false or exaggerated information to hype up a stock. Retail investors, seeing the rising prices, rush to buy in. This pushes the stock price even higher. Dump: Once the price reaches a desired level, insiders sell their holdings. The stock price plummets, causing massive losses to latecomers. Why Is It Illegal? In regulated markets, pump-and-dump is considered securities fraud and is punishable under laws like the Securities Exchange Act in the U.S. and relevant Indian laws under SEBI regulations. In unregulated or loosely regulated markets (such as certain cryptocurrency exchanges), enforcement is more challenging, though regulators are increasingly cracking down on such schemes. For investors, this serves as a stark reminder: always research thoroughly and beware of too-good-to-be-true tips, especially on social media platforms.
Yahoo
28-05-2025
- Business
- Yahoo
New XRP ETF is under official SEC review
The SEC has formally taken action on the proposal filed by the Cboe BZX Exchange to list and trade shares of the WisdomTree XRP Fund. The release indicates that the SEC has formally published SEC release [34-103124], and the application has entered a new phase of consideration to determine if the proposed spot XRP exchange-traded fund (ETF) meets the criteria outlined in Section 6 of the Securities Exchange Act of 1934. The stated purpose of the WisdomTree XRP Fund is to provide investment exposure to XRP by tracking the value of XRP through the performance of its spot price based on the CME CF Ripple-Dollar Reference Rate (New York Variant). The assets of the fund would consist of XRP only, cash, and cash equivalents. If the funds are allowed to be marketed, it could provide investors with exposure to XRP through brokerage accounts, rather than managing a digital wallet and private keys. The SEC has not yet granted or rejected the application, but has moved the deadline into the evaluation phase under Section 19(b)(2)(B) of the Securities Exchange Act. The agency will take time to consider whether the Exchange has proposed adequate and thoughtful measures to ensure there are sufficient safeguards against market manipulation and rules to protect investors and the public interest. The Commission has made the application available for public comments, asking if they had any comments or opinions on whether the fund's design would prevent or limit any potential fraudulent activities or create any new regulatory aspects. Interested parties are invited to submit their written comments electronically. This is a critical juncture for XRP, since it has had litigation and regulatory hurdles. If approved, the WisdomTree XRP Fund will be one of the first spot ETFs connected to the digital asset. New XRP ETF is under official SEC review first appeared on TheStreet on May 27, 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
