NEW YORK, March 25, 2025 (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 TELUS International (Cda) Inc. (NYSE: TIXT), Polestar Automotive Holding UK PLC (NASDAQ: PSNY), Arconic Corporation (ARNC), and ModivCare, Inc. (NASDAQ: MODV). 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.
TELUS International (Cda) Inc. (NYSE: TIXT)
Class Period: February 16, 2023 - August 1, 2024
Lead Plaintiff Deadline: March 31, 2025
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 allegedly failed to disclose to investors: (1) the Company’s AI Data Solutions offerings required the cannibalization of its higher-margin offerings; (2) that Telus International’s declining profitability was tied to the Company’s drive to develop AI capabilities; (3) that Telus International’s shift toward AI put greater pressure on the Company’s margins than previously disclosed; 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 TELUS International class action go to: https://bespc.com/cases/TIXT
Polestar Automotive Holding UK PLC (NASDAQ: PSNY)
Class Period: November 14, 2022 - January 16, 2025
Lead Plaintiff Deadline: March 31, 2025
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Polestar’s financial statements during the Class Period were materially misstated; (2) Polestar understated its internal control weaknesses; and (3) as a result, defendants’ statements about Polestar’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on the Polestar class action go to: https://bespc.com/cases/PSNY
Arconic Corporation (ARNC)
Class Period: April 19, 2022 - May 3, 2023
Lead Plaintiff Deadline: March 31, 2025
According to the complaint, during the class period, defendants failed to disclose to investors that in April 2022 Apollo had made a premium offer of $34-$36 to purchase all the outstanding equity interest of Arconic in an all-cash transaction. After rejecting the offer, Arconic repurchased its shares in large quantities at prices significantly below Apollo's offer.
On December 12, 2022, Apollo submitted a revised proposal to acquire Arconic in an all-cash transaction at a price of $30.00 per share. Plaintiff alleges that Arconic continued to engage in share repurchases at prices materially below Apollo's offer.
The complaint alleges that on May 4, 2023, Arconic announced that it had entered into an agreement to be acquired by Apollo in an all-cash transaction at $30.00 per share. In response, the price of Arconic common stock increased $6.38 per share, or 28.3%, from a closing price on May 3, 2023 of $22.55 per share to a closing price on May 4, 2023 of $28.93 per share.
For more information on the Arconic class action go to: https://bespc.com/cases/ARNC
ModivCare, Inc. (NASDAQ: MODV)
Class Period: November 3, 2022 - September 15, 2024
Lead Plaintiff Deadline: March 31, 2025
The Class Action alleges that, during the Class Period, Defendants made misleading statements and omissions regarding the ability of its contracts to stabilize cash flow. As the alleged truth about ModivCare's business reached the market, the price of ModivCare's stock suffered significant declines, harming investors. For example, on September 16, 2024, before market hours, ModivCare filed a press release on a Form 8-K with the Securities and Exchange Commission, titled "Modivcare Provides Financial Update." Therein, the Company revised its 2024 Adjusted EBITDA guidance range from $185-$195 million to $170-$180 million, "primarily due to NEMT segment pricing accommodations made to strategically retain and expand key customer relationships." On this news, the Company's stock price fell $1.40 or nearly 10%, from $14.12 per share on September 15, 2024, to close at $12.72 per share on September 16, 2024, on unusually high trading volume.
For more information on the ModivCare class action go to: https://bespc.com/cases/MODV
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
