PHILADELPHIA, March 10, 2025 (GLOBE NEWSWIRE) --
Driven Brands Holdings, Inc. (NASDAQ: DRVN) Class Action Survives Motion to Dismiss:
Grabar Law Office is investigating claims on behalf of long-term Driven Brands Holdings, Inc. (NASDAQ: DRVN) shareholders. The investigation concerns whether certain officers of the company have breached their fiduciary duties they owed to the company.
If you have held Driven Brands (NASDAQ: DRVN) shares continuously since prior to October 27, 2021, you can seek corporate reforms, the return of funds back to the Company, and a court approved incentive award at no cost you. Visit https://grabarlaw.com/the-latest/driven-brands-shareholder-investigation/ or contact Joshua H. Grabar at jgrabar@grabarlaw.com or call 267-507-6085 to learn more.
WHY: An underlying securities fraud class action complaint alleges that Driven Brands, through certain of its officers and directors, made numerous materially false and misleading statements and omissions pertaining to: (i) Driven Brands’ ability to efficiently and effectively integrate a high volume of acquired businesses, including statements related to the status of integrating its U.S. auto glass businesses; and (ii) the performance and competitive position of Driven Brands’ car wash business segment.
On February 20, 2025, a Federal Court determined that the allegations in the plaintiff’s underlying securities fraud class action complaint were adequately pleaded to survive defendants attempts to dismiss the complaint.
WHAT TO DO NOW: Current Driven Brands shareholders who have held Driven Brands shares since prior to October 27, 2021, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever. If you would like to learn more about this matter at no cost to you, you are encouraged to visit https://grabarlaw.com/the-latest/driven-brands-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com or call 267-507-6085. $DRVN #DrivenBrands
Mercury Systems, Inc. (NASDAQ: MRCY) Class Action Survives Motion to Dismiss:
Grabar Law Office is investigating claims on behalf of Mercury Systems, Inc. (NASDAQ: MRCY) shareholders as securities fraud class action complaint partially survives motion to dismiss. The investigation concerns whether certain officers and directors of Mercury Systems have breached their fiduciary duties owed to the company.
Current Mercury Systems shareholders who have held shares since prior to February 3, 2021, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them whatsoever. To learn more or join click here: https://grabarlaw.com/the-latest/mercury-systems-shareholder-investigation/.
WHY: A recently filed securities fraud class action complaint has now partially survived defendants’ attempts to dismiss that complaint. The underlying complaint alleges that Mercury Systems, through certain of its officers and directors, used acquisitions and improper revenue recognition practices to mask its inability to grow organically. The complaint further alleges that Defendants repeatedly misled investors to believe that their growth was organic by misrepresenting several elements of Mercury’s business, including by hiding that Mercury had switched from “point-in-time” to “long-term contracts” in order to improperly boost reported revenues and that several of Mercury’s projects were in significant distress, including projects related to Mercury’s acquisition of Physical Optics Corporation. Finally, the Complaint alleges Mercury also lied to investors about its strategic growth initiative, 1MPACT, which was designed to improve profit margins but unbeknownst to investors was used to disguise regular expenses as restructuring costs, enabling Mercury to claim that recurring expenses were one-time costs.
On February 20, 2025, a Federal Court determined that certain key allegations in the plaintiff’s underlying securities fraud class action complaint were adequately pleaded to survive defendants attempts to dismiss the complaint.
WHAT YOU CAN DO NOW: If you have held Mercury Systems shares since prior to February 3, 2021, and would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/mercury-systems-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com, or call us at 267-507-6085. $MRCY #MercurySystems
Playstudios, Inc. (NASDAQ: MYPS) Class Action Survives Motion to Dismiss and Settles:
Grabar Law Office is investigating claims on behalf of Playstudios, Inc. (NASDAQ: MYPS) shareholders. The investigation concerns whether certain officers and directors of Playstudios breached the fiduciary duties they owed to the company as class action reaches settlement.
If you are a current Playstudios shareholder who purchased or acquired Playstudios shares prior to August 11, 2021 (including by way of exchange of publicly listed Acies shares), and still hold shares today, you can seek corporate reforms, the return of money back to the company, and a court approved incentive award at no cost to you whatsoever. Please visit https://grabarlaw.com/the-latest/playstudios-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call us at 267-507-6085
WHY? A federal securities fraud class action has survived a motion to dismiss and has now reached a settlement.
On or about February 1, 2021, Playstudios ("Old Playstudios"), a privately-held gaming company, and Acies Acquisition Corp., a “blank check” special purpose acquisition company (“SPAC”), entered into a merger agreement to form Playstudios, Inc.
The underlying class action complaint was brought on behalf of a class consisting of all persons and entities other who: (1) purchased, or otherwise acquired securities of Playstudios, Inc. (“Playstudios”) during the Class Period (August 11, 2021 and May 5, 2022) ; (2) held common stock of Acies Acquisition Corp. as of May 25, 2021, and were eligible to vote at Acies’ June 16, 2021 special meeting who exchanged their shares of Acies stock for shares of Playstudios stock pursuant to the merger of Acies and Old Playstudios; or (3) purchased or otherwise acquired Playstudios common stock pursuant to or traceable to the Acies’ Registration Statement and Proxy Statement issued in connection with the June 2021 merger.
The Complaint alleges that as a result of Defendants’ wrongful conduct and fraudulent statements to the market, shareholders paid artificially inflated prices for their Playstudios securities and suffered substantial losses and damages thereby.
On March 31, 2024, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss, finding that “all the statements identified within the Amended Complaint are actionable” but for one.
On March 6, 2025, a settlement of the securities fraud class action was reached.
WHAT YOU CAN DO NOW: If you purchased Playstudios shares prior to August 11, 2021 (including by way of exchange of publicly-listed Acies shares), and still hold shares today, you are encouraged to visit https://grabarlaw.com/the-latest/playstudios-shareholder-investigation/, contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. You may be able to seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever. #Playstudios $MYPS
Sage Therapeutics, Inc. (NASDAQ: SAGE):
Grabar Law Office is investigating claims on behalf of Sage Therapeutics, Inc. (NASDAQ: SAGE) shareholders. The investigation concerns whether certain officers and directors of Sage Therapeutics breached the fiduciary duties they owed to the company.
If you are a current Sage Therapeutics, Inc. (NASDAQ: SAGE) shareholder who purchased or acquired Sage Therapeutics shares prior to April 12, 2021, you can seek corporate reforms, the return of money back to the company, and a court approved incentive award at no cost to you whatsoever. Please visit https://grabarlaw.com/the-latest/sage-shareholder-investigation/, email jgrabar@grabarlaw.com, or call us at 267-507-6085.
WHY? An underlying securities fraud class action complaint alleges that Sage Therapeutics, via certain of its officers and directors, made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, it is alleged that Defendants made false and/or misleading statements and/or failed to disclose that: (i) zuranolone was less effective in treating MDD than Defendants had led investors to believe; (ii) accordingly, the FDA was unlikely to approve the Zuranolone NDA for the treatment of MDD in its present form, and zuranolone’s clinical results for MDD, as well as its overall regulatory and commercial prospects, were overstated; (iii) SAGE-718 was less effective in treating MCI due to PD than Defendants had led investors to believe; (iv) accordingly, SAGE-718’s clinical, regulatory, and commercial prospects as a treatment for MCI due to PD were overstated; (v) SAGE-324 was less effective in treating ET than Defendants had led investors to believe; (vi) accordingly, SAGE-324’s clinical, regulatory, and commercial prospects as a treatment for ET were overstated; and (vii) as a result of all the foregoing, the Company’s public statements were materially false and misleading at all relevant times.
WHAT YOU CAN DO NOW: If you purchased Sage Therapeutics shares prior to April 12, 2021 and still hold shares today, you are encouraged to visit https://grabarlaw.com/the-latest/sage-shareholder-investigation/ contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085. You may be able to seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever. #SageTherapeutics $SAGE
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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com
