INVESTOR ALERT: Kirby McInerney LLP Reminds Investors that Securities Class Action Lawsuits Have Been Filed on Behalf of HyreCar Inc. (HYRE), Katapult Holdings, Inc. (KPLT), Sesen Bio, Inc. (SESN), and Activision Blizzard, Inc. (ATVI) and Encourages Investors to Contact the Firm

Thursday, 09. September 2021 17:10

NEW YORK, Sept. 09, 2021 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that securities class action lawsuits have been filed on behalf of stockholders of HyreCar Inc., Katapult Holdings, Inc., Sesen Bio, Inc., and Activision Blizzard, Inc. Investors have until the deadlines below to apply to the Court to be appointed as lead plaintiff in the lawsuits. Additional information about each case can be found at the links provided below.

HyreCar Inc. (“HyreCar” or the “Company”) (NASDAQ: HYRE)

Class Period: May 14, 2021 to August 10, 2021
Pending Court: U.S. District Court for the Central District of California
Lead Plaintiff Deadline: October 26, 2021

The lawsuit alleges throughout the Class Period, the Defendants failed to disclose the following adverse facts, which were known to Defendants or recklessly disregarded by them: (1) HyreCar had materially understated its insurance reserves; (2) HyreCar had systematically failed to pay valid insurance claims incurred prior to the Class Period; (3) HyreCar had incurred significant expenses transitioning to its new third-party insurance claims administrator and processing claims from prior periods; (4) HyreCar had failed to appropriately price risk in its insurance products and was experiencing elevated claims incidence as a result; (5) HyreCar had been forced to dramatically reform its claims underwriting, policies, and procedures in response to unacceptably high claims severity and customer complaints; and (6) as a result of the above, 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, and net loss trajectories.

For additional information on the HyreCar lawsuit please visit this website.

Katapult Holdings, Inc. f/k/a FinServ Acquisition Corp. (“Katapult” or the “Company”) (NASDAQ: KPLT)

Class Period: December 18, 2020 to August 10, 2021
Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: October 26, 2021

The lawsuit alleges 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 failed to disclose to investors: (1) that Katapult was experiencing declining e-commerce retail sales and consumer spending; (2) that despite Katapult’s assertions that it was clear and compelling value proposition to both consumers and merchants, transforming the way non-prime consumers shop for essential goods and enabling merchant access to this underserved segment, Katapult lacked visibility into its consumers future buying behavior; and (3) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading, and/or lacked reasonable basis at all relevant times.

For additional information on the Katapult lawsuit please visit this website.

Sesen Bio, Inc. (“Sesen Bio” or the “Company”) (NASDAQ: SESN)

Class Period: December 21, 2020 to August 17, 2021
Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: October 18, 2021

The lawsuit alleges 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 failed to disclose to investors: (1) that Sesen Bio’s clinical trial for Vicineum had more than 2,000 violations of trial protocol, including 215 classified as major; (2) that three of Sesen Bio’s clinical investigators were found guilty of serious noncompliance, including back-dating data; (3) that Sesen Bio had submitted the tainted data in connection with the BLA for Vicineum; (4) that Sesen Bio’s clinical trials showed that Vicineum leaked out into the body, leading to side effects including liver failure and liver toxicity, and increasing the risks for fatal, drug-induced liver injury; (5) that, as a result of the foregoing, the Company’s BLA for Vicineum was not likely to be approved; (6) that, as a result of the foregoing, there was a reasonable likelihood that Sesen Bio would be required to conduct additional trials to support the efficacy and safety of Vicineum; and (7) 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 additional information on the Sesen Bio lawsuits please visit this website.

Activision Blizzard, Inc. (“Activision Blizzard” or the “Company”) (NASDAQ: ATVI)

Class Period: August 4, 2016 to July 27, 2021
Pending Court: U.S. District Court for the Central District of California
Lead Plaintiff Deadline: October 4, 2021

The lawsuit alleges throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Activision Blizzard discriminated against women and minority employees; (2) Activision Blizzard fostered a pervasive “frat boy” workplace culture that continues to thrive; (3) numerous complaints about unlawful harassment, discrimination, and retaliation were made to human resources personnel and executives which went unaddressed; (4) the pervasive culture of harassment, discrimination, and retaliation would result in serious impairments to Activision Blizzard’s operations; (5) as a result of the foregoing, the Company was at greater risk of regulatory and legal scrutiny and enforcement, including that which would have a material adverse effect; (6) Activision Blizzard failed to inform shareholders that California’s Department of Fair Employment and Housing had been investigating Activision Blizzard for harassment and discrimination; and (7) as a result, Defendants’ statements about Activision Blizzard’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

For additional information on the Activision Blizzard lawsuit please visit this website.

About Kirby McInerney LLP:

Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.,
(212) 371-6600
investigations@kmllp.com
www.kmllp.com


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