RBLX - Bragar Eagel & Squire P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Direct Digital Hertz Humana and Roblox and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, June 18, 2024 (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 Direct Digital Holdings, Inc. (NASDAQ:DRCT), Hertz Global Holdings, Inc. (NASDAQ:HTZ), Humana Inc. (NYSE:HUM), and Roblox Corporation (NYSE:RBLX). 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.
Direct Digital Holdings, Inc. (NASDAQ:DRCT)
Class Period: April 17, 2023 – March 25, 2024 (Common Stock Only)
Lead Plaintiff Deadline: July 22, 2024
The suit alleges that throughout the Class Period, Defendants made false and misleading statements, as well as failed to disclose material facts, including that: (1) the Company's transition toward a "cookie-less" advertising environment was accelerated and would impact revenue in 2024; (2) the Company's alternatives to third-party cookies, including planned investments in AI and machine learning to build on first-party data sources, would not be viable alternatives to third-party cookies and similar tracking technologies; (3) the Company did not have adequate solutions to address the impending phase out of third-party cookies by Google; and (4) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about the effectiveness of Direct Digital's platform and related financial results, growth, and prospects.
For more information on the Direct Digital class action go to: https://bespc.com/cases/DRCT
Hertz Global Holdings, Inc. (NASDAQ:HTZ)
Class Period: April 27, 2023 – April 24, 2024
Lead Plaintiff Deadline: July 30, 2024
Hertz is a vehicle rental company that offers both internal combustion engine ("ICE") vehicle and electric vehicle ("EV") rental services from Company-operated, licensee, and franchisee locations across various countries. The Company also sells vehicles and value-added services.
With hundreds of thousands of vehicles in its rental fleet, accurately measuring vehicle depreciation—i.e., the decrease in value of the various vehicles in its fleet over time—is critical to Hertz's profitability.
In October 2021, Hertz announced that, "[a]s consumer interest in [EVs] skyrockets," the Company made "a significant investment to offer the largest EV rental fleet in North America and one of the largest in the world[,]" including "an initial order of 100,000 Teslas by the end of 2022 and new EV charging infrastructure across the company's global operations." The Company thereafter entered into multiple strategic partnerships with cities and others to promote its EV rental business, and concurrently continued to expand its EV fleet.
The Complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Hertz had downplayed the financial impact of vehicle depreciation, and/or overstated its ability to track and manage vehicle depreciation; (ii) demand for Hertz's EVs was not as strong as Defendants had led investors to believe; (iii) Hertz ...