NEW YORK, NY / ACCESSWIRE / March 11, 2022 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. (NASDAQ:ELMS)
Class Period: March 31, 2021 – February 1, 2022
Lead Plaintiff Deadline: April 4, 2022
The complaint alleges that during the class period Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) ELMS’s previously issued financial statements were false and unreliable; (2) ELMS’s earlier reported financial statements would need restatement; (3) certain ELMS executives and/or directors purchased equity in the Company at substantial discounts to market value without obtaining an independent valuation; (4) on November 25, 2021 (Thanksgiving), the Company’s Board formed an independent Special Committee to conduct an inquiry into certain sales of equity securities made by and to individuals associated with the Company; and (5) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Learn about your recoverable losses in ELMS: https://www.kleinstocklaw.com/pslra-1/electric-last-mile-solutions-inc-f-k-a-forum-merger-iii-corp-loss-submission-form?id=24619&from=1
Fennec Pharmaceuticals Inc. (NASDAQ:FENC)
Class Period: May 28, 2021 – November 26, 2021
Lead Plaintiff Deadline: April 11, 2022
The FENC lawsuit alleges that Fennec Pharmaceuticals Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Fennec had not successfully remediated, and overstated its efforts to remediate, issues with the manufacturing facility of its drug product manufacturer for PEDMARK, a new compound developed to reduce the incidence of hearing loss in children undergoing chemotherapy; (ii) as a result, the Food and Drug Administration likely to approve the Resubmitted Pedmark New Drug Application (“NDA”); (iii) accordingly, the regulatory and commercial prospects of the Resubmitted Pedmark NDA were overstated; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Learn about your recoverable losses in FENC: https://www.kleinstocklaw.com/pslra-1/fennec-pharmaceuticals-inc-loss-submission-form-2?id=24619&from=1
MP Materials Corp. f/k/a Fortress Value Acquisition Corp. (NYSE:MP)
Class Period: May 1, 2020 – February 2, 2022
Lead Plaintiff Deadline: April 25, 2022
The MP lawsuit alleges MP Materials Corp. f/k/a Fortress Value Acquisition Corp. made materially false and/or misleading statements and/or failed to disclose during the class period that: (i) Fortress Value Acquisition Corp. (“FVAC”) had overstated its due diligence efforts and expertise with respect to identifying target companies to acquire; (ii) FVAC performed inadequate due diligence into Legacy MP Materials prior to the business combination, or else ignored significant red flags regarding, inter alia, Legacy MP Materials’ management, compliance policies, and Mountain Pass’s profitability; (iii) as a result, the Company’s future business and financial prospects post-business combination were overstated; (iv) MP Materials engaged in an abusive transfer price manipulation scheme with a related party in the People’s Republic of China to artificially inflate the Company’s profits; (v) MP Materials’ ore at the Mountain Pass Rare Earth Mine and Processing Facility was not economically viable to harvest for rare earth metals; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Learn about your recoverable losses in MP: https://www.kleinstocklaw.com/pslra-1/mp-materials-corp-f-k-a-fortress-value-acquisition-corp-loss-submission-form?id=24619&from=1
Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
[email protected]
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com
SOURCE : The Klein Law Firm
View source version on accesswire.com:
https://www.accesswire.com/692767/The-Klein-Law-Firm-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders-of-ELMS-FENC-and-MP