NEW YORK, Sept. 10, 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 Starbucks Corporation (NASDAQ:SBUX), Sage Therapeutics, Inc. (NASDAQ: SAGE), Outset Medical, Inc. (NASDAQ: OM), and Super Micro Computer, Inc. (NASDAQ: SMCI). 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.
Starbucks Corporation (NASDAQ: SBUX)
Class Period: November 2, 2023 – April 30, 2024
Lead Plaintiff Deadline: October 28, 2024
According to the complaint, on April 30, 2024, after market hours, investors began to question the veracity of defendants’ public statements following Starbucks’ press release announcing its second quarter fiscal 2024 earnings and the accompanying same-day earnings call. In pertinent part, defendants announced disappointing Q2 Fiscal 2024 results, stating that store sales declined globally 4%, with traffic falling 7%, and further disclosed a 2% decline in new revenues to $8.6 billion. On the back of these results, Starbucks additionally lowered their guidance for FY 2024, citing global declines in store sales, net revenues, and both GAAP and non- GAAP earnings. The Company attributed its results and lowered guidance on the issues Starbucks was facing in China, with CFO Ruggeri stating, in reference to the Chinese market, “we still see the effects of a slower-than-expected recovery, and we see fierce competition among value players in the market.”
Investors and analysts reacted immediately to Starbucks’ revelation. The price of Starbucks’ common stock declined dramatically. From a closing market price of $88.49 per share on April 30, 2024, Starbucks’ stock price fell to $74.44 per share on May 1, 2024, a decline of over 15% in the span of just a single day.
For more information on the Starbucks class action go to: https://bespc.com/cases/SBUX
Sage Therapeutics, Inc. (NASDAQ: SAGE)
Class Period: April 12, 2021 – July 23, 2024
Lead Plaintiff Deadline: October 28, 2024
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) zuranolone was less effective in treating MDD than Defendants had led investors to believe; (2) accordingly, the FDA was unlikely to approve the Zuranolone NDA for the treatment of MDD in its present form, and zuranolone’s clinical results for MDD, as well as its overall regulatory and commercial prospects, were overstated; (3) SAGE-718 was less effective in treating MCI due to PD than Defendants had led investors to believe; (4) accordingly, SAGE-718’s clinical, regulatory, and commercial prospects as a treatment for MCI due to PD were overstated; (5) SAGE-324 was less effective in treating ET than Defendants had led investors to believe; (6) accordingly, SAGE-324’s clinical, regulatory, and commercial prospects as a treatment for ET were overstated; and (7) as a result of all the foregoing, the Company’s public statements were materially false and misleading at all relevant times.
For more information on the Sage class action go to: https://bespc.com/cases/SAGE
Outset Medical, Inc. (NASDAQ: OM)
Class Period: August 1, 2022 – August 7, 2024
Lead Plaintiff Deadline: October 28, 2024
According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Tablo products were marketed for continuous renal replacement therapy, which is not one of the indications approved by the United States Food and Drug Administration (“FDA”); (2) as a result, Outset Medical was reasonably likely to submit an additional 510(k) application for the Tablo products; (3) there was a substantial risk that Outset Medical would cease sales of the Tablo products pending FDA approval of additional indications; (4) Outset Medical lacked the sales team and process to execute on the ramp of Tablo sales; (5) as a result of the foregoing, Outset Medical’s revenue growth would be adversely impacted; and (6) as a result of the foregoing, defendants’ positive statements about Outset Medical’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on the Outset Medical class action go to: https://bespc.com/cases/OM
Super Micro Computer, Inc. (NASDAQ: SMCI)
Class Period: February 2, 2021 – August 26, 2024
Lead Plaintiff Deadline: October 29, 2024
According to the complaint, on August 27, 2024, Hindenburg Research unveiled a short report on SMCI. The short report detailed several allegations against the Company, including that Hindenburg “found glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and control failures, and customer issues.”
Investors and analysts reacted immediately to these revelations. The price of SMCI’s common stock declined dramatically. From a closing market price of $562.51 per share on August 26, 2024, SMCI’s stock price fell to $443.49 per share on August 28, 2024, a decline of about 21.16% in the span of only two days.
For more information on the Super Micro class action go to: https://bespc.com/cases/SMCI
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
