NEW YORK, Aug. 27, 2024 (GLOBE NEWSWIRE) -- , August 27, 2024 – 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 Spire Global, Inc. (NYSE:SPIR), DexCom, Inc. (NASDAQ: DXCM), and Orthofix Medical Inc. (NASDAQ: OFIX). 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.
Spire Global, Inc. (NYSE:SPIR)
Class Period: March 6, 2024 - August 14, 2024
Lead Plaintiff Deadline: October 21, 2024
On August 14, 2024, after the market closed, the Company announced it would be unable to timely file its second quarter 2024 financial report as the Company was “reviewing its accounting practices and procedures with respect to revenue recognition” regarding certain Space Services contracts and “related internal control matters.” The Company disclosed the “type of Contracts that the Company has identified for re-evaluation resulted in recognized revenue of $10 to $15 million on an annual basis” and “additional financial measures such as gross profit could also be impacted.”
On this news, the Company’s share price fell $3.41 or 33.56%, to close at $6.75 per share on August 15, 2024, on unusually heavy trading volume.
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’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that there were embedded leases of identifiable assets and pre-space mission activities for certain Space Services contracts; (2) that Spire Global lacked effective internal controls regarding revenue recognition for these contracts; (3) that, as a result, the Company overstated revenue for certain Space Services contracts; 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.
For more information on the Spire Global class action go to: https://bespc.com/cases/SPIR
DexCom, Inc. (NASDAQ: DXCM)
Class Period: January 8, 2024 - July 25, 2024
Lead Plaintiff Deadline: October 21, 2024
According to the complaint, on July 25, 2024, DexCom announced its financial results for the second quarter of fiscal 2024 and reduced its revenue guidance for the full fiscal year 2024. The Company attributed its results and lowered guidance on their execution of “several key strategic initiatives” which “did not meet [their] high standards.” Investors and analysts reacted immediately to DexCom’s revelation. The price of DexCom’s common stock declined dramatically. From a closing market price of $107.85 per share on July 25, 2024, DexCom’s stock price fell to $64.00 per share on July 26, 2024, a decline of about 40.66% in the span of just a single day.
For more information on the DexCom class action go to: https://bespc.com/cases/DXCM
Orthofix Medical Inc. (NASDAQ: OFIX)
Class Period: October 11, 2022, and September 12, 2023
Lead Plaintiff Deadline: October 21, 2024
According to the Complaint, the Company made false and misleading statements to the market. Orthofix failed to disclose that certain members of its membership team engaged in repeated instances of offensive and inappropriate conduct. The Company’s failure to inform investors of the truth became apparent on September 12, 2023, when its Board of Directors decided to terminate the offending members of the management team. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Orthofix, investors suffered damages.
For more information on the Orthofix class action go to: https://bespc.com/cases/OFIX
About Bragar Eagel & Squire, P.C.:
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. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
