Pomerantz LLP

In today’s saturated digital landscape, standing out is crucial. Companies that provide digital advertising solutions are the architects of online visibility, using cutting-edge tools and strategies to ensure brands capture attention. With organizations clamoring to boost digital engagement, properly run online advertising companies stand to profit significantly. Pomerantz was recently named Lead Counsel in an investor suit against Perion Network Ltd., a technology company that provides digital advertising solutions. According to the complaint, Perion made false or misleading statements about its search advertising business, portraying it as a strong driver of growth despite it being in decline. Additionally, Perion allegedly failed to disclose key issues, such as the instability of its long-term agreement with Microsoft, the risk of Microsoft changing its advertising pricing, and the ineffectiveness of its AI technology in growing its search advertising revenue. The suit alleges Perion's optimistic statements about its financial results and prospects were based on an unrealistic view of its search advertising business and its agreement with Microsoft. When Perion announced preliminary financial results for 2024 revealing a decline in search advertising activity related to price changes implemented by Microsoft, the stock price dropped significantly, resulting in substantial losses for investors. #DigitalAdvertising #CorporateAccountability #TransparencyMatters #SecuritiesLitigation #ClassAction

Sporting goods companies cater to athletes, fitness enthusiasts, and outdoor adventurers by providing products that enhance performance and comfort. These companies also drive innovation and set trends in sports technology and fashion, helping individuals achieve their personal best while shaping the future of the industry. In this competitive environment, it’s vital for these companies to maintain transparency about their financial health, inventory, and demand issues to build trust with their customers and stakeholders, ensuring long-term success and credibility. Pomerantz was recently named Co-Lead Counsel in an investor suit against Dick’s Sporting Goods, Inc. (DSG), a retail company specializing in sports equipment, apparel, and footwear. According to the complaint, DSG misrepresented its financial health and inventory management, claiming continued high margins coming out of the Covid-19 pandemic while failing to disclose declining demand and excess inventory. In addition, DSG executives allegedly sold shares while knowing about the company’s issues. When the truth emerged, the stock price dropped significantly, resulting in substantial losses for investors. #SportsRetail #InvestorRights #TransparencyMatters #CorporateEthics #SecuritiesLitigation #ClassAction

Congratulations to Brian O'Connell and Christopher Tourek on their well-deserved elevation to Of Counsel at Pomerantz LLP! #PomerantzPromotions

In the latest issue of The Pomerantz Monitor, Samuel J. Adams reports on a set of proposed amendments to the Delaware General Corporation Law that would upend the power structure of corporations under Delaware law. A recent decision by the Delaware Court of Chancery in West Palm Beach Firefighters’ Pension Fund v. Moelis & Co. invalidated a series of agreements between Ken Moelis and the board of directors of the investment bank he founded, Moelis & Company, which would have restricted the board’s ability to act without Ken Moelis’ approval. In response, the Delaware legislature proposed a series of amendments to its General Corporation Law which would effectively reverse the court’s decision, granting corporate boards significant leeway to contract away their powers to major stockholders. Read more at: https://lnkd.in/eZV3xKea #SecuritiesLitigation #CorporateGovernance #boardofdirectors

Biopharmaceutical companies that develop cancer treatments bring hope to millions of patients, and often profit handsomely along the way. However, while shareholders are eager for positive news about a company’s prospects, misrepresenting regulatory statements in the pharmaceutical industry—where lives are on the line—is exceedingly dangerous. Pomerantz recently achieved a $19.65 million settlement in a shareholder suit against Y-mAbs Therapeutics, Inc., a clinical biopharmaceutical company specializing in antibody-based therapies. According to the complaint, Y-mAbs misrepresented the FDA’s concerns about certain data in the company’s approval application for its neuroblastoma treatment, omburtamab, misleading investors into believing that omburtamab was on track for approval when in fact the FDA had identified serious issues with the data used as a control group in a study of the drug’s efficacy. When the FDA denied approval for omburtamab, the company's stock price sharply declined, resulting in significant losses for investors. #MedicalInnovation #PharmaceuticalIndustry #InstitutionalInvestors #SecuritiesLitigation #ClassAction

Pomerantz women have been recognized as leaders in securities litigation. From Murielle Steven fearlessly taking on Wynn Resorts for its cover-up of Steve Wynn’s sexual misconduct, to Emma Gilmore holding Deutsche Bank AG accountable for financing Jeffrey Epstein, to Jennifer Pafiti convening world leaders to exchange ideas about corporate governance, Pomerantz women are a driving force in securities litigation. In 2024, Pomerantz led the Super Lawyers list of the top female securities litigation attorneys in the New York Metro area, with five women, more than any other firm: Emma Gilmore, Brenda Szydlo, Murielle Steven, Tamar Weinrib, and Jennifer Sobers. Emily Finestone was named a Super Lawyers Rising Star. Congratulations to the women leading the way at Pomerantz! #WomenInLaw #SecuritiesLitigation #LegalExcellence

We are pleased to announce that Jonathan Park and Dean Paul Ferrogari have been named to the 2025 Best Lawyers: Ones to Watch list. Their tireless efforts on behalf of clients and dedication to excellence distinguish them as emerging talents in the field of securities litigation. Congratulations, Jonathan and Dean! #OnesToWatch #LegalExcellence #RisingStars

Pomerantz is pleased to announce that Emma Gilmore and Murielle Steven have been named to Benchmark Litigation’s 2024 list of the Top 250 Women in Litigation. As trailblazers in their field, Emma and Murielle exemplify exceptional legal acumen and leadership. Their groundbreaking work, advocacy for women’s rights, and commitment to delivering outstanding results underscores their status as distinguished figures in securities litigation. Congratulations, Emma and Murielle! #Top250Women #BenchmarkLitigation #LegalExcellence #Trailblazers #WomenInLaw

In April, Pomerantz secured a $97 million settlement in its landmark litigation against pharmaceutical company Perrigo Co. plc. The suit focused on Perrigo’s attempt to block a hostile takeover bid by competitor Mylan Inc. To dissuade investors from tendering shares, Perrigo allegedly failed to disclose problems with its integration of Omega Pharmaceuticals and concealed a price-fixing scheme that boosted the results of Perrigo’s generic drugs division. During the litigation, Pomerantz won a significant victory that expands the rights of global investors when it convinced the court to exercise supplemental jurisdiction over claims brought under Israeli law and certify parallel classes of investors who had purchased Perrigo shares on the New York Stock Exchange and the Tel Aviv Stock Exchange. In the latest issue of the Pomerantz Monitor, the editors report on this watershed litigation, which was led by Managing Partner Jeremy Lieberman and Partner Josh Silverman. Read more: https://lnkd.in/eZV3xKea #SecuritiesLitigation #Pharma #ClassAction #Settlement

In today's healthcare landscape, digital platforms that help consumers find the lowest prices for prescription medications are essential. When operating properly, these platforms can empower patients with real-time price comparisons and discounts, making medications more affordable and helping to build a more equitable healthcare system. Pomerantz was recently named Lead Counsel in an investor suit against GoodRx Holdings, Inc. alleging that the company and its executives made materially false and misleading statements about the stability of its relationships with pharmacies, particularly Kroger. According to the complaint, GoodRx failed to disclose the significant risk that Kroger, which accounted for nearly 25% of GoodRx’s prescription transaction revenue, could unilaterally cease accepting GoodRx discounts. This omission allegedly misled investors about the company's financial health and prospects. In May 2022, Kroger took actions to stop accepting GoodRx discounts for many drugs, resulting in an estimated revenue loss of $30 million for GoodRx. When this was disclosed, GoodRx's stock price declined sharply, causing substantial losses for investors. #EquitableHealthcare #HealthcareAffordability #InvestorProtection #CorporateGovernance #SecuritiesLitigation #ClassAction