Investigation Alert: Cummins, Apellis Pharmaceuticals, Inspire Medical, and Applied Digital - Johnson Fistel, LLP Encourages Long-Term Investors to Submit Their Information Below
SAN DIEGO, March 19, 2024 (GLOBE NEWSWIRE) --
Shareholder rights law firm Johnson Fistel, LLP, investigates potential violations of federal and state laws by certain officers of the companies of Cummins Inc. (NYSE: CMI), Apellis Pharmaceuticals, Inc. (NASDAQ: APLS), Inspire Medical Systems, Inc. (NYSE: INSP), and Applied Digital Corporation (NASDAQ: APLD).
*Cummins Inc. (NYSE: CMI)*
Johnson Fistel, LLP is investigating potential claims on behalf of Cummins, Inc. against certain of its officers and directors.
If you are a current, long-term shareholder of Cummins, you can click or copy and paste the link below in a browser to join this action:
https://www.cognitoforms.com/JohnsonFistel/CumminsInc
On December 22, 2023, Cummins reached an agreement with the U.S. Department of Justice, the U.S. Environmental Protection Agency (EPA), and the State of California to settle allegations related to emissions violations. The company agreed to pay a substantial $1.675 billion civil penalty for its actions.
California Attorney General Rob Bonta emphasized that Cummins knowingly evaded state emissions tests and requirements, causing harm to public health and the environment. This penalty represents the largest amount ever recovered by the DOJ under the Clean Air Act and is the second-largest environmental penalty secured.
*Apellis Pharmaceuticals, Inc.* *(NASDAQ: APLS) *
Johnson Fistel LLP is investigating potential claims on behalf of Apellis Pharmaceuticals against certain of its officers and directors.
If you have continuously owned Apellis Pharmaceuticals shares since before January 28, 2021, submit your information below:
https://www.cognitoforms.com/JohnsonFistel/ApellisPharmaceuticalsInc2
Recently a class action lawsuit was filed against the company. According to the complaint, during the class period, defendants represented SYFOVRE "demonstrated a favorable safety profile” with minimal adverse effects and “no events of retinal vasculitis or retinal vein occlusion” observed. Notwithstanding defendants’ claims regarding the safety of SYFOVRE, on July 15, 2023, the American Society of Retina Specialists (“ASRS”) published a letter highlighting concerns with SYFOVRE. Specifically, the ASRS indicated that physicians have reported cases of eye inflammation in patients treated with SYFOVRE, including six instances of occlusive retinal vasculitis, a type of inflammation that blocks blood flow through the vessels that feed the retina and potentially results in blindness. On this news, the price of Apellis common stock declined $32.04 per share, or nearly 38%, to close at $52.46 per share on July 17, 2023.
*Inspire Medical Systems, Inc. (NYSE: INSP)*
Johnson Fistel, LLP is investigating potential claims on behalf of Inspire Medical Systems, Inc. against certain of its officers and directors.
If you are a current, long-term shareholder of Inspire Medical Systems holding shares before May 3, 2023, you can click or copy and paste the link below in a browser to join this action:
https://www.cognitoforms.com/JohnsonFistel/InspireMedicalSystemsInc
Recently a class action lawsuit was filed against the company. The complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) despite the Acceleration Program, customers were encountering challenges with the prior authorization submission process, including with the scheduling of appointments; (2) a slowdown in prior authorization submissions arising from these challenges led to a shortfall of hundreds of procedures to implant the Company's OSA device; and (3) as a result, Defendants' positive statements about the Company's financial guidance, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
*Applied Digital Corporation (NASDAQ: APLD)*
Johnson Fistel, LLP is investigating potential claims on behalf of Applied Digital Corporation against certain of its officers and directors.
If you have continuously owned Applied Digital shares *before April 13, 2022*, you can click or copy and paste the link below in a browser to join this action:
https://www.cognitoforms.com/JohnsonFistel/AppliedDigitalCorporation
Recently a class action lawsuit was filed against the company. The lawsuit alleges Applied Digital made materially false and/or misleading statements and/or failed to disclose material adverse facts about the Company’s business, operations, and compliance policies, including: (i) Applied Digital had overstated the profitability of its datacenter hosting business and its ability to successfully transition into a low-cost AI Cloud services provider; (ii) Applied Digital’s Board of Directors was not independent within the meaning of NASDAQ listing rules; (iii) accordingly, Applied Digital had overstated the efficacy of its business model and failed to maintain proper corporate governance standards; and (iv) the foregoing, once revealed, was likely to subject the Company to significant financial and/or reputational harm.
*About Johnson Fistel, LLP:*
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
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*Contact: *
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com