U.S. markets close in 4 hours 43 minutes

  • S&P 500

    4,072.82
    +52.95 (+1.32%)
     

  • Dow 30

    33,524.70
    +371.49 (+1.12%)
     

  • Nasdaq

    13,656.23
    +176.13 (+1.31%)
     

  • Russell 2000

    2,258.32
    +4.41 (+0.20%)
     

  • Crude Oil

    59.31
    -2.14 (-3.48%)
     

  • Gold

    1,726.90
    -1.50 (-0.09%)
     

  • Silver

    24.80
    -0.15 (-0.59%)
     

  • EUR/USD

    1.1809
    +0.0040 (+0.34%)
     

  • 10-Yr Bond

    1.7290
    +0.0500 (+2.98%)
     

  • GBP/USD

    1.3906
    +0.0077 (+0.56%)
     

  • USD/JPY

    110.1140
    -0.5440 (-0.49%)
     

  • BTC-USD

    59,716.22
    +862.59 (+1.47%)
     

  • CMC Crypto 200

    1,246.80
    +35.45 (+2.93%)
     

  • FTSE 100

    6,737.30
    +23.67 (+0.35%)
     

  • Nikkei 225

    30,089.25
    +235.25 (+0.79%)
     

The Gross Law Firm Announces Class Actions on Behalf of Shareholders of MPLN, VLDR and CYDY

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·4 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

NEW YORK, NY / ACCESSWIRE / April 5, 2021 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

Multiplan Corporation F/K/A Churchill Capital Corp. Iii (NYSE:MPLN)

Investors Affected : July 12, 2020 - November 10, 2020

A class action has commenced on behalf of certain shareholders in Multiplan Corporation F/K/A Churchill Capital Corp Iii. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) MultiPlan was losing tens of millions of dollars in sales and revenues to Naviguard, a competitor created by one of MultiPlan's largest customers, UnitedHealthcare, which threatened up to 35% of the Company's sales and 80% of its levered cash flows by 2022; (b) sales and revenue declines in the quarters leading up to the Merger were not due to "idiosyncratic" customer behaviors as represented, but rather due to a fundamental deterioration in demand for MultiPlan's services and increased competition, as payors developed competing services and sought alternatives to eliminating excessive healthcare costs; (c) MultiPlan was facing significant pricing pressures for its services and had been forced to materially reduce its take rate in the lead up to the Merger by insurers, who had expressed dissatisfaction with the price and quality of MultiPlan's services and balanced billing practices, causing the Company's to cut its take rate by up to half in some cases; (d) as a result of (a)-(c) above, MultiPlan was set to continue to suffer from revenues and earnings declines, increased competition and deteriorating pricing dynamics following the Merger; (e) as a result of (a)-(d) above, MultiPlan was forced to seek continued revenue growth and to improve its competitive positioning through pricey acquisitions, including through the purchase of HST for $140 million at a premium price from a former MultiPlan executive only one month after the Merger; and (f) as a result of (a)-(e) above, Churchill III investors had grossly overpaid for the acquisition of MultiPlan in the Merger, and MultiPlan's business was worth far less than represented to investors.

Shareholders may find more information at https://securitiesclasslaw.com/securities/multiplan-corporation-f-k-a-churchill-capital-corp-iii-loss-submission-form/?id=14362&from=1

Velodyne Lidar, Inc. (NASDAQ:VLDR)

Investors Affected : July 2, 2020 - March 17, 2021

A class action has commenced on behalf of certain shareholders in Velodyne Lidar, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) certain of Velodyne's directors had failed to operate with respect, honesty, integrity, and candor in their dealings with the Company's officers and directors; (2) the Company was investigating the foregoing matters; and (3) 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.

Shareholders may find more information at https://securitiesclasslaw.com/securities/velodyne-lidar-inc-loss-submission-form/?id=14362&from=1

CytoDyn Inc. (OTCMKT:CYDY)

Investors Affected : March 27, 2020 - March 9, 2021

A class action has commenced on behalf of certain shareholders in CytoDyn Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: CytoDyn securities were actively traded over the counter (OTC) in the United States. While the exact number of Class members is unknown to Plaintiff at this time and can be ascertained only through appropriate discovery, Plaintiff believes that there are hundreds or thousands of members in the proposed Class. Record owners and other members of the Class may be identified from records maintained by CytoDyn or its transfer agent and/or OTC Markets and may be notified of the pendency of this action by mail, using the form of notice similar to that customarily used in securities class actions.

Shareholders may find more information at https://securitiesclasslaw.com/securities/cytodyn-inc-loss-submission-form/?id=14362&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm



View source version on accesswire.com:
https://www.accesswire.com/638957/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-MPLN-VLDR-and-CYDY

Recommended Stories

  • Infectious Disease Expert Warns Of New COVID-19 Wave Infecting Younger People

    "We’re almost in a new pandemic,” said Michael Osterholm, director of the Center for Infectious Disease Research and Policy.

  • Starbucks s Biased in Promoting Minority Workers, Study Says, Numbers Don’t Lie,

    Coffee chain Starbucks is racially biased when it comes to promotions, according to workforce data reviewed by the law firm Covington & Burling.

  • Dow, S&P 500 extend gains into record territory after ISM services index hits highest since 1997

    Stock benchmarks climb on Monday, as U.S. investors saw another round of good economic news from the services sector, adding to the array of improving economic indicators including a stellar March jobs report from last Friday.

  • A Memorable March: Bitcoin and Ethereum Adoption Skyrockets

    March 2020 has been a rather disastrous month that will be remembered for a long time. It was the time when COVID-19 started spreading throughout the world, the global economy experienced a major meltdown with stock prices crashing, the world entered a state of lockdown, there was panic, fear, and even the crypto industry did not go unscathed.

  • BioNTech Stock Has Surged on Covid Vaccine. Its Next Big Hit Might Take a While.

    Dr. Ugur Sahin, the German professor who co-founded the biotech firm (BNTX), is a multibillionaire, at least on paper. American depositary receipts of BioNTech (BNTX) are up more than 235% since the start of 2020. BioNTech expects revenue of more than $11 billion from the 1.4 billion Covid-19 vaccine doses that it and Pfizer are contracted to deliver this year.

  • Suze Orman's financial tips for surviving a fourth wave of COVID-19

    With so much out of your control, here are 17 things you can do to protect your money.

  • Stocks Are Rallying Again as Market Finally Gets to Respond to Strong Jobs Data

    U.S. stocks rose on Monday, with investors getting their first chance to react to last week's better-than-expected jobs data. Much of Europe and Asia is closed.

  • Here’s the $4.5 trillion ‘firepower’ that will drive stocks higher in April, says top strategist

    The direction is up for stocks as markets return from a holiday break. Our call of the day from Fundstrat's Thomas Lee says watch the money on the sidelines.

  • XRP Hits Two-Month Price High in Wake of Ether Rally

    XRP has completely recouped its losses resulting from the SEC's lawsuit against Ripple Labs late last year.

  • World’s Largest Lithium Producer: Get Ready For A Mega-Rally

    With the EV boom squarely in the front view mirror, and with battery gigafactories promising to be heavy-hitting purchasers, lithium prices have started to rise at a fast pace

  • GameStop to capitalize on 'stonks' rally with $1 billion stock sale plan

    GameStop Corp fell 13% on Monday after the video game retailer said it may sell up to $1 billion worth of stock as it tries to make the best of the 900% surge in its shares from a Reddit-driven rally this year. The company said it would sell up to 3.5 million shares and use the proceeds to speed up its shift to e-commerce in an overhaul being led by billionaire Ryan Cohen, top shareholder and board member of GameStop. "The positive story is they'll have more money to invest in their digital revolution, and the negative story is it's massive dilution and would likely mean the stock faces some near-term pressure," said Thomas Hayes, chairman of Great Hill Capital LLC in New York.

  • Hertz selects Chapter 11 exit plan backed by Centerbridge, Warburg, Dundon

    The proposed deal, which is subject to approval by the U.S. bankruptcy court for the district of Delaware, is supported by holders of over 85% of the company's unsecured notes, Hertz said in a statement.

  • South Korea's LG becomes first major smartphone brand to withdraw from market

    South Korea's LG Electronics Inc will wind down its loss-making mobile division after failing to find a buyer, a move that is set to make it the first major smartphone brand to completely withdraw from the market. Its decision to pull out will leave its 10% share in North America, where it is the No. 3 brand, to be gobbled up by Samsung Electronics and Apple Inc with its domestic rival expected to have the edge. "In the United States, LG has targeted mid-priced - if not ultra-low - models and that means Samsung, which has more mid-priced product lines than Apple, will be better able to attract LG users," said Ko Eui-young, an analyst at Hi Investment & Securities.

  • Tesla's market value set to gain $50 billion on record EV deliveries

    Tesla Inc was set to add about $50 billion to its market value as the electric car-maker's shares surged on Monday, after it posted record deliveries on strong demand in China that helped it offset the impact of a global shortage in auto parts. The company said on Friday it was encouraged by the strong reception of its Model Y crossover in China and it was quickly progressing to full production capacity. Analysts remained hopeful as despite a global chip shortage that has slammed the entire auto sector, various supply chain issues and rising competition, Tesla still managed to produce roughly the same amount of vehicles in the first quarter as in the fourth quarter.

  • Price of Gold Fundamental Weekly Forecast – Could See More Short-Covering as Traders Await Direction from Fed

    Rising rates may not have that much of an effect on gold over the short-run. Over the long-term, however, the tone will remain bearish.

  • LG scraps its smartphone business as losses mount

    The South Korean electronics giant said the mobile phone market had become "incredibly competitive".

  • Tesla's market value set to gain $50 billion on record EV deliveries

    Tesla Inc was set to add about $50 billion to its market value as the electric car-maker's shares surged on Monday, after it posted record deliveries on strong demand in China that helped it offset the impact of a global shortage in auto parts. The company said on Friday it was encouraged by the strong reception of its Model Y crossover in China and it was quickly progressing to full production capacity. Analysts remained hopeful as despite a global chip shortage that has slammed the entire auto sector, various supply chain issues and rising competition, Tesla still managed to produce roughly the same amount of vehicles in the first quarter as in the fourth quarter.

  • Why growth stocks could rally from here

    Over the past seven weeks, growth stocks have been in a correction the “opening up the economy” stocks have been in a strong uptrend (as seen in the S&P 500 and Dow Jones). From here, we will start to see growth pick up again and participate to the upside f

  • Stock market news live updates: Stocks jump as traders digest jobs report, look ahead to Fed remarks

    Stocks jumped Monday morning as traders took in last week's much stronger-than-expected monthly jobs report

  • GameStop plans $1 billion stock sale, shares slide

    GameStop Corp shares fell 12% on Monday after the video game retailer said it may sell up to $1 billion worth of stock as it takes advantage of a dizzying rally in its shares this year on the back of a Reddit-driven retail trading frenzy. The company said it would sell up to 3.5 million shares and use the proceeds to speed up the shift in its business model to e-commerce in an overhaul being led by top shareholder and board member Ryan Cohen. At Thursday's closing price of $191.45, the "at-the-market" sale could fetch GameStop up to $670 million.