{"id":20724,"date":"2024-08-05T01:03:13","date_gmt":"2024-08-05T01:03:13","guid":{"rendered":"https:\/\/allonlinebanglanewspapers.com\/news\/bragar-eagel-squire-p-c-reminds-investors-that-class-action-lawsuits-have-been-filed-against-lifecore-seritage-oddity-tech-and-arbor-realty-and-encourages-investors-to-contact-the-firm\/"},"modified":"2024-08-05T01:03:13","modified_gmt":"2024-08-05T01:03:13","slug":"bragar-eagel-squire-p-c-reminds-investors-that-class-action-lawsuits-have-been-filed-against-lifecore-seritage-oddity-tech-and-arbor-realty-and-encourages-investors-to-contact-the-firm","status":"publish","type":"post","link":"https:\/\/allonlinebanglanewspapers.com\/news\/bragar-eagel-squire-p-c-reminds-investors-that-class-action-lawsuits-have-been-filed-against-lifecore-seritage-oddity-tech-and-arbor-realty-and-encourages-investors-to-contact-the-firm\/","title":{"rendered":"Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Lifecore, Seritage, Oddity Tech, and Arbor Realty and Encourages Investors to Contact the Firm"},"content":{"rendered":"
\n

NEW YORK, Aug. 04, 2024 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Lifecore Biomedical, Inc. (NASDAQ: LFCR), Seritage Growth Properties (NYSE: SRG), Oddity Tech (NASDAQ: ODD), and Arbor Realty Trust, Inc. (NYSE: ABR). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.<\/p>\n

Lifecore Biomedical, Inc. (NASDAQ: LFCR)<\/strong><\/p>\n

Class Period: October 7, 2020 and March 19, 2024<\/p>\n

Lead Plaintiff Deadline: September 27, 2024<\/p>\n

Between September 2022 and February 2024, Lifecore\u2019s share price declined in response to a series of disclosures concerning material weaknesses in internal control over financial reporting, and delays in making required filings with the U.S. Securities and Exchange Commission (SEC).<\/p>\n

The lawsuit alleges that (i) Lifecore maintained deficient internal controls over financial reporting; (ii) as a result, the Company issued several financial statements that were inaccurate and would need to be restated; (iii) Lifecore\u2019s purported remediation efforts with respect to the foregoing deficiencies were ineffective; (iv) all of the foregoing impaired Lifecore\u2019s ability to timely file periodic reports with the SEC in compliance with NASDAQ listing requirements; and (v) accordingly, the Company\u2019s financial position and\/or prospects were materially overstated.<\/p>\n

For more information on the Lifecore class action go to: https:\/\/bespc.com\/cases\/LFCR<\/a><\/p>\n

Seritage Growth Properties (NYSE: SRG)<\/strong><\/p>\n

Class Period: July 7, 2022 – May 10, 2024<\/p>\n

Lead Plaintiff Deadline: August 30, 2024<\/p>\n

On August 14, 2023, after the market closed, Seritage revealed that there was a \u201cmaterial weakness\u201d in the Company\u2019s internal control over financial reporting \u201cdue to a deficiency in the design of our control over the identification of impairment indicators for investments in real estate and documentation of evidence of review.\u201d Moreover, the deficiency related \u201cto the failure to identify potential indicators of impairment related to development projects in a timely manner.\u201d<\/p>\n

On this news, Seritage\u2019s stock price fell $0.86, or 9.67%, to close at $8.03 per share on August 15, 2023, on unusually heavy trading volume.<\/p>\n

Then, on May 10, 2024, after the market closed, Seritage released its first quarter 2024 financial results, revealing it was \u201cadjusting [its] pricing projections for some of [its] assets.\u201d As a result, the gross value of the Company\u2019s portfolio of assets was reduced by at least $325 million.<\/p>\n

On this news, Seritage\u2019s stock price fell $2.54, or 27.3%, to close at $6.78 per share on May 13, 2024, on unusually heavy trading volume.<\/p>\n

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company lacked effective internal controls regarding the identification and review of impairment indicators for investments in real estate; (2) that, as a result, the Company had overstated the value and projected gross proceeds of certain real estate assets; and (3) that, as a result of the foregoing, Defendants\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.<\/p>\n

For more information on the Seritage class action go to: https:\/\/bespc.com\/cases\/SRG<\/a><\/p>\n

Oddity Tech (NASDAQ: ODD)<\/strong><\/p>\n

Class Period: July 19, 2023 – May 20, 2024<\/p>\n

Lead Plaintiff Deadline: September 17, 2024<\/p>\n

The lawsuit alleges Defendants made materially false and\/or misleading statements regarding the Company\u2019s business, operations, and compliance policies, and\/or failed to disclose that: (i) Oddity Tech overstated its AI technology and capabilities, and\/or the extent to which this technology drove the Company\u2019s sales; (ii) Oddity Tech\u2019s repeat purchase rates and revenues were, at least in part, derived from unsustainable and deceptive sales and advertising practices; and (iii) Oddity Tech downplayed the true scope and severity of ongoing civil litigation against the Company and\/or its subsidiaries.<\/p>\n

For more information on the Oddity Tech class action go to: https:\/\/bespc.com\/cases\/ODD<\/a><\/p>\n

Arbor Realty Trust, Inc. (NYSE: ABR) <\/strong><\/p>\n

Class Period: May 7, 2021 and July 11, 2024<\/p>\n

Lead Plaintiff Deadline: September 30, 2024<\/p>\n

Arbor Realty invests in a diversified portfolio of structured finance assets in the multifamily, single-family rental, and commercial real estate markets in the United States.<\/p>\n

The\u00a0Arbor Realty\u00a0<\/em>class action lawsuit alleges that defendants provided investors with material information concerning Arbor Realty\u2019s continual claims of strong health of their loan book which materially misled and\/or failed to disclose information pertinent to investors.<\/p>\n

The\u00a0Arbor Realty<\/em>\u00a0class action lawsuit further alleges that on July 12, 2024,\u00a0Bloomberg<\/em>\u00a0reported that Arbor Realty was being probed by federal prosecutors and the Federal Bureau of Investigation in New York and that \u201c[t]he investigators are inquiring about lending practices and the company\u2019s claims about the performance of their loan book.\u201d On this news, the price of Arbor Realty stock fell 17%, according to the complaint.<\/p>\n

For more information on the Arbor Realty class action go to: https:\/\/bespc.com\/cases\/ABR<\/a><\/p>\n

About Bragar Eagel & Squire, P.C.:<\/strong><\/p>\n

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com<\/u><\/a>. Attorney advertising. Prior results do not guarantee similar outcomes.<\/p>\n

Contact Information:<\/strong><\/p>\n

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com<\/a>
www.bespc.com<\/a><\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Aug. 04, 2024 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Lifecore Biomedical, Inc. (NASDAQ: LFCR), Seritage Growth Properties (NYSE: SRG), Oddity Tech (NASDAQ: ODD), and Arbor Realty Trust, Inc. (NYSE: ABR). Stockholders […]<\/p>\n","protected":false},"author":2,"featured_media":20725,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/ml.globenewswire.com\/Resource\/Download\/29481954-f2ff-4756-b5a9-d982a6497bd0","fifu_image_alt":"","footnotes":""},"categories":[11],"tags":[],"class_list":["post-20724","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-globenewswire"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/posts\/20724","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/comments?post=20724"}],"version-history":[{"count":0,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/posts\/20724\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/media\/20725"}],"wp:attachment":[{"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/media?parent=20724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/categories?post=20724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/allonlinebanglanewspapers.com\/news\/wp-json\/wp\/v2\/tags?post=20724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}