CLASS ACTION UPDATE for ZY, ITRM and HYRE: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, NY / ACCESSWIRE / September 28, 2021 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
ZY Shareholders Click Here: https://www.zlk.com/pslra-1/zymergen-inc-loss-submission-form?prid=19918&wire=1
ITRM Shareholders Click Here: https://www.zlk.com/pslra-1/iterum-therapeutics-plc-loss-submission-form?prid=19918&wire=1
HYRE Shareholders Click Here: https://www.zlk.com/pslra-1/hyrecar-inc-loss-submission-form?prid=19918&wire=1
* ADDITIONAL INFORMATION BELOW *
Zymergen Inc. (NASDAQ:ZY)
This lawsuit is on behalf of investors who purchased ZY common stock pursuant and/or traceable to the documents issued in connection with the Company's April 2021 initial public offering.
Lead Plaintiff Deadline: October 4, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/zymergen-inc-loss-submission-form?prid=19918&wire=1
According to the filed complaint, (1) during the qualification process for the Company's optical film product, Hyaline, key customers had encountered technical issues, including product shrinkage and incompatibility with customers' processes; (2) though the qualification process was critical to achieving market acceptance for Hyaline and generating revenue, Zymergen lacked visibility into the qualification process; (3) as a result, the Company overestimated demand for its products; (4) as a result of the foregoing, the Company's product delivery timeline was reasonably likely to be delayed, which in turn would delay revenue generation; and (5) 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.
Iterum Therapeutics Plc (NASDAQ:ITRM)
ITRM Lawsuit on behalf of: investors who purchased November 30, 2020 - July 23, 2021
Lead Plaintiff Deadline: October 4, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/iterum-therapeutics-plc-loss-submission-form?prid=19918&wire=1
According to the filed complaint, during the class period, Iterum Therapeutics Plc made materially false and/or misleading statements and/or failed to disclose that: (i) the sulopenem New Drug Application ("NDA") lacked sufficient data to support approval for the treatment of adult women with urinary tract infections caused by designated susceptible microorganisms proven or strongly suspected to be nonsusceptible to a quinolone; (ii) accordingly, it was unlikely that the Food and Drug Administration would approve the sulopenem NDA in its current form; (iii) Defendants downplayed the severity of issues and deficiencies associated with the sulopenem NDA; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
HyreCar Inc. (NASDAQ:HYRE)
HYRE Lawsuit on behalf of: investors who purchased May 14, 2021 - August 10, 2021
Lead Plaintiff Deadline: October 26, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/hyrecar-inc-loss-submission-form?prid=19918&wire=1
According to the filed complaint, during the class period, HyreCar Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) HyreCar had materially understated its insurance reserves; (b) HyreCar had systematically failed to pay valid insurance claims incurred prior to the Class Period; (c) HyreCar had incurred significant expenses transitioning to its new third-party insurance claims administrator and processing claims incurred from prior periods; (d) HyreCar had failed to appropriately price risk in its insurance products and was experiencing elevated claims incidence as a result; (e) HyreCar had been forced to dramatically reform its claims underwriting, policies and procedures in response to unacceptably high claims severity and customer complaints; and (f) as a result, HyreCar's operations and prospects were misrepresented because the Company was not on track to meet the financial estimates provided to investors during the Class Period, and such estimates lacked a reasonable basis in fact, including HyreCar's purported gross margin, EBITDA (earnings before interest, taxes, depreciation, and amortization), and net loss trajectories.
You have until the lead plaintiff deadlines to request that the court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a nationally recognized firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP
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