PHILADELPHIA, March 06, 2025 (GLOBE NEWSWIRE) —
Driven Brands Holdings, Inc. (NASDAQ: DRVN) Class Action Survives Motion to Dismiss:
Grabar Law Office is investigating claims on behalf of long-term Driven Brands Holdings, Inc. (NASDAQ: DRVN) shareholders. The investigation concerns whether certain officers of the company have breached their fiduciary duties they owed to the company.
If you have held Driven Brands (NASDAQ: DRVN) shares continuously since prior to
October 27, 2021, you can
seek corporate reforms, the return of funds back to the Company, and a court approved incentive award at no cost you. Visit https://grabarlaw.com/the-latest/driven-brands-shareholder-investigation/ or contact Joshua H. Grabar at [email protected] or call 267-507-6085 to learn more.
WHY: An underlying securities fraud class action complaint alleges that Driven Brands, through certain of its officers and directors, made numerous materially false and misleading statements and omissions pertaining to: (i) Driven Brands’ ability to efficiently and effectively integrate a high volume of acquired businesses, including statements related to the status of integrating its U.S. auto glass businesses; and (ii) the performance and competitive position of Driven Brands’ car wash business segment.
On February 20, 2025, a Federal Court determined that the allegations in the plaintiff’s underlying securities fraud class action complaint were adequately pleaded to survive defendants attempts to dismiss the complaint.
WHAT TO DO NOW: Current Driven Brands shareholders who have held Driven Brands shares since prior to October 27, 2021, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever. If you would like to learn more about this matter at no cost to you, you are encouraged to visit https://grabarlaw.com/the-latest/driven-brands-shareholder-investigation/, contact Joshua H. Grabar at [email protected] or call 267-507-6085. $DRVN #DrivenBrands
Mercury Systems, Inc. (NASDAQ: MRCY) Class Action Survives Motion to Dismiss:
Grabar Law Office is investigating claims on behalf of Mercury Systems, Inc. (NASDAQ: MRCY) shareholders as securities fraud class action complaint partially survives motion to dismiss. The investigation concerns whether certain officers and directors of Mercury Systems have breached their fiduciary duties owed to the company.
Current Mercury Systems shareholders who have held shares since prior to
February 3, 2021
,
can
seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them whatsoever.
To learn more or join
click here:
https://grabarlaw.com/the-latest/mercury-systems-shareholder-investigation/
.
WHY
:
A recently filed securities fraud class action complaint has now partially survived defendants’ attempts to dismiss that complaint. The underlying complaint alleges that Mercury Systems, through certain of its officers and directors, used acquisitions and improper revenue recognition practices to mask its inability to grow organically. The complaint further alleges that Defendants repeatedly misled investors to believe that their growth was organic by misrepresenting several elements of Mercury’s business, including by hiding that Mercury had switched from “point-in-time” to “long-term contracts” in order to improperly boost reported revenues and that several of Mercury’s projects were in significant distress, including projects related to Mercury’s acquisition of Physical Optics Corporation. Finally, the Complaint alleges Mercury also lied to investors about its strategic growth initiative, 1MPACT, which was designed to improve profit margins but unbeknownst to investors was used to disguise regular expenses as restructuring costs, enabling Mercury to claim that recurring expenses were one-time costs.
On February 20, 2025, a Federal Court determined that certain key allegations in the plaintiff’s underlying securities fraud class action complaint were adequately pleaded to survive defendants attempts to dismiss the complaint.
WHAT YOU CAN DO NOW:
If you have held Mercury Systems shares since prior to
February 3, 2021, and would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/mercury-systems-shareholder-investigation/, contact Joshua H. Grabar at [email protected], or call us at 267-507-6085. $MRCY #MercurySystems
MGP Ingredients, Inc. (NASDAQ: MGPI):
Philadelphia, PA – Grabar Law Office is investigating claims on behalf of shareholders of MGP Ingredients, Inc. (NASDAQ: MGPI). The investigation concerns whether certain officers of MGP Ingredients breached the fiduciary duties they owed to the Company.
Current shareholders who acquired MGP Ingredients prior to May 4, 2023,
can
seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them. Visit https://grabarlaw.com/the-latest/MGPI-shareholder-investigation/ or contact Joshua H. Grabar at [email protected] or call 267-507-6085 to learn more.
Why? MGP Ingredients, Inc. manufactures alcoholic beverages and food ingredients. MGPI sells its own products under its own brand names as well as to manufacturers of other branded spirits.
As alleged in an underlying securities fraud class action complaint, sales of hard liquors, such as those produced and sold by MGPI, increased dramatically in the wake of COVID-19. However, as quarantines ended, sales of hard liquors slowed across the alcoholic beverage industry, and a backlog of inventory began to increase.
The underlying securities fraud class action complaint alleges that MGP Ingredients, Inc. (NASDAQ: MGPI), via certain of its officers, made materially false and/or misleading statements, and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, it is alleged that Defendants repeatedly touted a strong demand and “normal” inventory levels in brown goods (such as American whiskies and tequila), when in fact there had been a slowdown in consumption and oversupply in their products.
What You Can Do Now?
If you are a current shareholder who acquired MGPI shares prior to May 4, 2023,
you
can
seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to you whatsoever. You are encouraged to visit https://grabarlaw.com/the-latest/MGPI-shareholder-investigation/ or contact Joshua H. Grabar at [email protected] or call 267-507-6085 for further assistance. $MGPI #MGPI #MGPIngredients
Ocugen, Inc. (NASDAQ: OCGN):
Grabar Law Office is investigating whether officers and directors of Ocugen, Inc. (NASDAQ: OCGN) breached their fiduciary duties owed to the company.
If you have held Ocugen shares since prior to May 8, 2020 and would like to learn more about the investigation, your rights, and potential for recovery, please visit
https://grabarlaw.com/the-latest/Ocugen-Shareholder-Investigation/
,
contact Joshua Grabar at
[email protected]
or call 267-507-6085.
WHY. After market hours on April 1, 2024, Ocugen filed a Notification of Late Filing on Form 12b-25 with the SEC, stating that “in connection with the preparation of the financial statements of the Company for the year ended December 31, 2023, the Company identified certain accounting errors relating to the application of U.S. GAAP to certain agreements with one of its business partners related to a collaboration agreement. As a result, the Company intends to restate its financial statements for the year ended December 31, 2022 and for each of the first three quarters of 2022 and 2023 in the 2023 Form 10-K, the review and preparation of which is currently ongoing.”
A recently filed securities fraud class action complaint alleges that Ocugen, via certain of its officers and directors, made materially false and/or misleading statements and/or failed to disclose that: (1) Ocugen’s financial statements from May 8, 2020 to the present were materially misstated; (2) Ocugen did not have adequate internal controls; and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.
WHAT YOU CAN DO NOW: Current Ocugen shareholders who have held Ocugen shares since prior to May 8, 2020, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them.
If you
would like to learn more about this matter, you are encouraged to visit
https://grabarlaw.com/the-latest/ocugen-shareholder-investigation/
, contact us at
[email protected]
,
or call 267-507-6085. $OCGN #Ocugen
Attorney Advertising Disclaimer
Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: [email protected]
