SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Summit Therapeutics Inc. - SMMT
SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Summit Therapeutics Inc. - SMMT
PR Newswire
NEW YORK, March 3, 2024
NEW YORK, March 3, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Summit Therapeutics Inc. ("Summit" or the "Company") (NASDAQ: SMMT). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Summit and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On February 20, 2024, Summit reported its financial results for the fourth quarter and full year 2023 and "provide[d] an update on its operational progress". Among other items, Summit reported non-GAAP earnings per share of -$0.04 and no revenue. Summit also disclosed that the maturity date for a $100 million note from its chairman and Chief Executive Officer had been extended from September 6, 2024 to April 1, 2025 and filed a mixed shelf registration statement for the potential sale of up to $450 million of its securities.
On this news, Summit's stock price fell $1.33 per share, or 26.23%, to close at $3.74 per share on February 20, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-summit-therapeutics-inc---smmt-302075269.html
SOURCE Pomerantz LLP
-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Where We See Opportunities After an Ugly Month for Stocks
-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
What’s the Difference Between the CPI and PCE Indexes?
-
Berkshire Hathaway Earnings: Strong Insurance Results Continue to Lift Revenue and Profitability
-
10 Questions for Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Ford Stock a Buy, a Sell, or Fairly Valued?
-
3 Dividend Stocks for May 2024
-
Amgen Earnings: Obesity Drug Update Is Highly Encouraging
-
What’s Going on With Apple, Tesla, and Alphabet?
-
Apple Earnings: A Weak 2024, but Optimism for 2025
-
4 Utility Stocks to Play the AI Data Center Boom