According to the lawsuit, defendants made materially false and/or misleading statements and/or failed to disclose to investors that:
- the Company lacked effective internal controls;
- as a result, the Company’s financial results, outlook, and prospects were materially worse than represented;
- the Company was reasonably likely to restate its financial results;
- the Company would need to restate its previously filed financial statements during its fiscal years 2021, 2022, and 2023; and
- as a result of the foregoing, defendants’ positive statements about business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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