NEW YORK, March 22, 2023 (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 Invivyd, Inc. (NASDAQ: IVVD), Honda Motor Co., Ltd. (NYSE: HMC), Allianz SE (OTCMKTS: ALIZY), and Block, Inc. (NYSE: SQ). 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.
Invivyd, Inc. (NASDAQ: IVVD)
Class Period: November 29, 2021 - December 14, 2021
Lead Plaintiff Deadline: April 3, 2023
The complaint alleges that throughout the Class Period, defendants failed to disclose that: (1) the published epitope mapping, structural studies, and sequence analyses which defendants had used to claim ADG20 was effective against the Omicron variant were insufficient, unreliable, and inadequate to make claims of effectiveness of ADG20 against Omicron; (2) that defendants' claims regarding ADG20's efficacy against Omicron lacked a reasonable factual basis; and (3) ADG20 was over 300 times less effective against the Omicron variant as compared to its effectiveness against previous variants.
For more information on the Invivyd class action go to: https://bespc.com/cases/IVVD
Honda Motor Co., Ltd. (NYSE: HMC)
Class Period: June 20, 2018 - September 28, 2022
Lead Plaintiff Deadline: April 3, 2023
Honda is a multinational conglomerate manufacturer of automobiles, motorcycles and power equipment. The Company’s U.S.-based operations are conducted through its North American subsidiary, American Honda Motor Company, Inc. (“American Honda”).
Certain of Honda’s vehicles—including the 2018-2020MY Honda Odyssey, 2016-2020MY Honda Pilot, 2019-2020MY Honda Passport, 2015- 2020MY Acura TLX, and 2015-2020MY Acura MDX—include a so-called “Idle Stop” engine feature, purportedly to enhance fuel efficiency. In marketing these vehicles, Honda and/or its subsidiaries have highlighted the Idle Stop system’s purported capacity to automatically shut off a vehicle’s engine to save fuel when the vehicle brakes to a stop for at least two seconds—for example, at a traffic light— and to automatically restart the engine when the driver releases the vehicle’s brake pedal.
Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Honda had overstated the safety and effectiveness of the Idle Stop engine feature; (ii) Honda maintained deficient disclosure controls and procedures with respect to product quality and safety; (iii) as a result of the foregoing deficiencies, Honda failed to prevent American Honda from marketing and selling thousands of vehicles that contained a defective Idle Stop feature; (iv) the foregoing conduct subjected the Company and/or its subsidiaries to a heightened risk of litigation, as well as financial and/or reputational harm; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On September 28, 2022, a putative class action was filed against American Honda alleging that it had sold thousands of vehicles—including the 2018-2020 Honda Odyssey, 2016-2020 Honda Pilot, 2019-2020 Honda Passport, 2015-2020 Acura TLX, and 2015-2020 Acura MDX—equipped with a flawed Idle Stop feature. Per the allegations in the class action complaint, after initially shutting off a vehicle’s engine, the Idle Stop system in the affected vehicles routinely fails to restart the engine as designed, leaving drivers unable to move their vehicles. The lawsuit further alleges that American Honda was fully aware of the defect before marketing the vehicles.
On this news, Honda’s ADS price fell $0.74 per share, or 3.23%, to close at $22.19 per ADS on September 29, 2022.
As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s ADSs, Plaintiff and other Class members have suffered significant losses and damages.
For more information on the Honda class action go to: https://bespc.com/cases/HMC
Allianz SE (OTCMKTS: ALIZY)
Class Period: March 9, 2018 - May 17, 2022
Lead Plaintiff Deadline: April 3, 2023
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Allianz did not have effective internal controls; (2) Allianz's subsidiary was involved in substantial fraudulent activity; (3) as a result, Allianz was at an increased risk of regulatory scrutiny; (4) as a result, Allianz was at an increased risk of substantial losses and financial costs; and (5) as a result, Defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on the Allianz class action go to: https://bespc.com/cases/ALIZY
Block, Inc. (NYSE: SQ)
Class Period: November 4, 2021 - April 4, 2022 (including all former shareholders of Afterpay securities who acquired unregistered Block, Inc. Class A common stock (and/or corresponding SQ CHESS Depository Interests (“CDI”)) (“Block Shares” or “Square Securities”) in direct exchange for Afterpay shares pursuant to Block’s January 31, 2022 acquisition and stock-for-stock merger with Afterpay)
Lead Plaintiff Deadline: April 3, 2023
The filed complaint alleges that Block made materially false and/or misleading statements and/or failed to disclose that: (1) defendants did not satisfy the mandatory conditions necessary to exempt them from registration under §3(a)(10) and permit the issuance and sale of unregistered Block Shares; (2) in violation of §§5(a) and (c) of the Securities Act, no registration statement has been filed with the U.S. Securities and Exchange Commission or been in effect with respect to these Block Shares issued, solicited, and sold by means of Block's January 31, 2022 acquisition and stock-for-stock merger with Afterpay (the "Merger" or "Acquisition"); (3) in order to push the Acquisition through, defendants failed to comply with §3(a)(10)'s mandatory preconditions in several respects; and (4) defendants' grossly negligent failures deprived the Supreme Court of New South Wales ("NSW Court") of critical information necessary for any genuine appraisal of the Merger's supposed "fairness," and furthermore deprived plaintiff and other Afterpay shareholders of their statutory right to appear and present to the NSW Court the host of serious concerns and material (yet undisclosed) information ahead of the Merger.
For more information on the Block class action go to: https://bespc.com/cases/SQ
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
