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LAWSUITS FILED AGAINST BLU, VRM and RMO - Jakubowitz Law Pursues Shareholders Claims

·3 min read

NEW YORK, NY / ACCESSWIRE / May 12, 2021 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.

BELLUS Health Inc. (NASDAQ:BLU)

CONTACT JAKUBOWITZ ABOUT BLU:
https://claimyourloss.com/securities/bellus-health-inc-loss-submission-form/?id=15754&from=1

Class Period : September 5, 2019 - July 5, 2020

Lead Plaintiff Deadline : May 17, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: while BLU-5937's “high selectivity” contributed to the drug causing little to no taste alteration in chronic cough patients, that high selectivity also contributed to the drug potentially being less efficacious and thus likely not be able to meet the primary endpoint of the Company's Phase 2 trial.

Vroom, Inc. (NASDAQ:VRM)

CONTACT JAKUBOWITZ ABOUT VRM:
https://claimyourloss.com/securities/vroom-inc-loss-submission-form/?id=15754&from=1

Class Period : June 9, 2020 - March 3, 2021

Lead Plaintiff Deadline : May 21, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Vroom had not demonstrated that it was able to control and scale growth in respect to its salesforce to meet the demand for its products; (2) as a result, the Company was forced to discount aged inventory to move through its retail channels or liquidated in its wholesale channels; (3) as a result, the ecommerce gross profit per unit was reasonably likely to decline; and (4) 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.

Romeo Power, Inc. (NYSE:RMO)

CONTACT JAKUBOWITZ ABOUT RMO:
https://claimyourloss.com/securities/romeo-power-inc-loss-submission-form/?id=15754&from=1

Class Period : October 5, 2020 - March 30, 2021

Lead Plaintiff Deadline : June 15, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Romeo had only two battery cell suppliers, not four, (ii) the future potential risks that Defendants warned of concerning supply disruption or shortage had already occurred and were already negatively affecting Romeo's business, operations and business prospects, (iii) Romeo did not have the battery cell inventory to accommodate end-user demand and ramp up production in 2021, (iv) Romeo's supply constraint was a material hindrance to Romeo's revenue growth, and (v) Romeo's supply chain for battery cells was not hedged, but in fact, was totally at risk and beholden to just two battery cell suppliers and the spot market for their 2021 inventory. Given the supply constraint that Romeo was experiencing during the Class Period, Defendants had no reasonable basis to represent that the Company had the ability to meet customer demand and that it would support growth in revenue in 2021.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

SOURCE: Jakubowitz Law



View source version on accesswire.com:
https://www.accesswire.com/646826/LAWSUITS-FILED-AGAINST-BLU-VRM-and-RMO--Jakubowitz-Law-Pursues-Shareholders-Claims