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DEADLINE ALERT for ASTS, DOCS, PERI, and SHCR: The Law Offices of Frank R. Cruz Reminds Investors of Class Actions on Behalf of Shareholders

/EIN News/ -- LOS ANGELES, May 21, 2024 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.

Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to fcruz@frankcruzlaw.com.

AST SpaceMobile, Inc. (NASDAQ: ASTS)
Class Period: November 14, 2023 – April 1, 2024
Lead Plaintiff Deadline: June 17, 2024

The complaint filed in this class action alleges that 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 production of the Company’s five Block 1 BlueBird satellites had been negatively impacted by two suppliers of key subsystems; (2) that a result, the Company had not substantially completed the production of the Block 1 BlueBird satellites; (3) that, as a result, the Company’s five Block 1 BlueBird satellites were not on track to launch in the first quarter of 2024; and (4) 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.

If you are a SpaceMobile shareholder who suffered a loss, click here to participate.

Doximity, Inc. (NYSE: DOCS)
Class Period: February 9, 2022 – April 1, 2024
Lead Plaintiff Deadline: June 17, 2024

The complaint filed in this class action alleges that 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: (1) repeatedly touted the Company’s business prospects and the sustainability of the Company’s revenue growth and profitability, while downplaying the impact of competition and tightening macroeconomic conditions on the Company and Doximity’s reliance on “upselling” products and services (such as additional advertising) to existing customers to sustain the Company’s performance and future growth; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you are a Doximity shareholder who suffered a loss, click here to participate.

Perion Network Ltd. (NASDAQ: PERI)
Class Period: February 9, 2021 – April 5, 2024
Lead Plaintiff Deadline: June 17, 2024

The complaint filed in this class action alleges that 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 that: (1) Perion’s search advertising business was not a reliable and significant growth driver and was in fact in decline; (2) Perion’s long-term relationship with Microsoft and search services agreement would not provide stability for Perion’s search advertising business; (3) there was an increased risk of Microsoft acting to unilaterally change its advertising pricing and mechanisms to the detriment of Perion while the search services agreement was in place; (4) Perion’s AI technology and Microsoft’s investment in ChatGPT would not protect or grow Perion’s search advertising revenue; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you are a Perion Network shareholder who suffered a loss, click here to participate.

Sharecare, Inc. (NASDAQ: SHCR)
Class Period: May 10, 2023 – March 28, 2024
Lead Plaintiff Deadline: June 18, 2024

The complaint filed in this class action alleges that 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 that: (1) Sharecare lacked adequate internal controls and; (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you are a Sharecare shareholder who suffered a loss, click here to participate.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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

Contacts

The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com


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