BENSALEM, Pa., March 22, 2024 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com.
The Children’s Place, Inc. (NASDAQ: PLCE)
Class Period: March 16, 2023 – February 8, 2024
Lead Plaintiff Deadline: April 29, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company was engaged in aggressive promotions; (2) that, as a result, the Company’s inventory values were overstated; (3) that the foregoing was reasonably likely to have an adverse impact on fiscal 2023 financial results; and (4) 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.
Snowflake Inc. (NYSE: SNOW)
Class Period: September 16, 2020 – March 2, 2022
Lead Plaintiff Deadline: April 29, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose: (1) that Snowflake had systematically oversold capacity to customers which created a misleading appearance of the demand for Snowflake’s products and services; (2) that Snowflake had provided significant discounts to its customers prior to the IPO that temporarily boosted sales but would not be sustainable after the IPO and/or necessitate platform efficiency adjustments that negatively impacted client consumption and Snowflake’s revenue and profit margins; (3) that, as a result, Snowflake’s customers were poised to roll over a material amount of unused credits (and thereby cannibalize future sales) at the end of their contracts’ terms or to refuse to renew their contracts at prior consumption levels or at all; (4) that, as a result, Snowflake’s product revenue and remaining performance obligations had been artificially inflated leading up to and during the Class Period; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Nextdoor Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II (NYSE: KIND)
Class Period: July 6, 2021 – November 8, 2022
Lead Plaintiff Deadline: April 29, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose: (1) that Nextdoor’s financial results prior to the Merger had been temporarily inflated by the ephemeral effects of the COVID-19 pandemic, which had pulled forward demand for Nextdoor’s platform and cannibalized future advertising revenue growth; (2) that, rather than being sustained, such growth trends had already begun reversing at the start of the Class Period; (3) that Nextdoor’s total addressable market was materially smaller than the 312 million households represented to investors; (4) that, by the start of the Class Period, Nextdoor’s most important market – the U.S. market – was already substantially saturated, impairing the Company’s ability to monetize users and increase its ARPU or U.S. WAUs; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Ventyx Biosciences, Inc. (NASDAQ: VTYX)
Class Period: October 21, 2021 – November 6, 2023
Lead Plaintiff Deadline: April 30, 2024
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) VTX958 was less effective in treating psoriasis than Defendants had led investors to believe; (2) as a result, VTX958’s clinical and/or commercial prospects were overstated; (3) accordingly, the Company had misrepresented its ability to develop and commercialize effective product candidates; (4) Ventyx’s post-IPO business prospects were thus inflated; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
