LYV - KeyCorp Live Nation Applied Digital and Infinity Pharmaceuticals Class Action Update: Johnson Fistel Alerts Shareholders of Ongoing Legal Proceedings | Benzinga
SAN DIEGO, Aug. 28, 2023 (GLOBE NEWSWIRE) -- Johnson Fistel, LLP, a law firm specializing in shareholder rights, has announced the initiation of class action lawsuits on behalf of investors of the following companies. Investors are encouraged to review the deadlines listed and submit their information.
KeyCorp: https://www.johnsonfistel.com/investigations/keycorp
Applied Digital Corporation: https://www.johnsonfistel.com/investigations/applied-digital
Live Nation Entertainment, Inc: https://www.johnsonfistel.com/investigations/live-nation
Infinity Pharmaceuticals, Inc: https://www.johnsonfistel.com/investigations/infinity-pharmaceuticals-inc
If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (jimb@johnsonfistel.com) by email or phone at 619-814-4471. If emailing, please include a phone number.
KeyCorp (NYSE:KEY)
Class Period: February 27, 2020 and June 9, 2023
Lead Plaintiff Deadline: October 3, 2023
According to the complaint, one of the Company's principal sources of revenue is net interest income ("NII"), which is calculated as the difference between interest income received on earning assets (such as loans and securities) and loan-related fee income, and interest expense paid on deposits and borrowings. During the class period, defendants failed to disclose that: (i) Key downplayed concerns with its liquidity while overstating the effectiveness of its long-term liquidity strategy; (ii) Key overstated its projected NII for the second quarter ("Q2") and full year ("FY") of 2023, as well as related positive NII drivers, while downplaying negative NII drivers; (iii) as a result, Key was likely to negatively revise its previously issued NII guidance; (iv) all the foregoing, once revealed, was likely to negatively impact Key's business, financial results, and reputation; and (v) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
Applied Digital Corporation (NASDAQ:APLD)
Class Period: April ...