{"id":836989,"date":"2025-04-14T09:15:30","date_gmt":"2025-04-14T13:15:30","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/securities-fraud-class-actions-have-survived-motions-to-dismiss-long-term-shareholders-of-axsome-therapeutics-inc-nasdaq-axsm-driven-bands-holdings-inc-nasdaq-drvn-mercury-systems-inc\/"},"modified":"2025-04-14T09:15:30","modified_gmt":"2025-04-14T13:15:30","slug":"securities-fraud-class-actions-have-survived-motions-to-dismiss-long-term-shareholders-of-axsome-therapeutics-inc-nasdaq-axsm-driven-bands-holdings-inc-nasdaq-drvn-mercury-systems-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/securities-fraud-class-actions-have-survived-motions-to-dismiss-long-term-shareholders-of-axsome-therapeutics-inc-nasdaq-axsm-driven-bands-holdings-inc-nasdaq-drvn-mercury-systems-inc\/","title":{"rendered":"SECURITIES FRAUD CLASS ACTIONS HAVE SURVIVED MOTIONS TO DISMISS: Long-Term Shareholders of Axsome Therapeutics, Inc. (NASDAQ: AXSM); Driven Bands Holdings, Inc. (NASDAQ: DRVN); Mercury Systems, Inc. (NASDAQ: MRCY); and Virtu Financial Inc. (NASDAQ: VIRT) Should Contact Grabar Law Office Today"},"content":{"rendered":"
\n

PHILADELPHIA, April 14, 2025 (GLOBE NEWSWIRE) — <\/p>\n

\n
\n Axsome Therapeutics Inc. (NASDAQ: AXSM) Class Action Survives Motion to Dismiss:<\/u>
\n <\/strong>\n <\/p>\n

Grabar Law Office is investigating claims on behalf of shareholders of Axsome Therapeutics, Inc. (NASDAQ: AXSM) as an underlying securities fraud class action has survived a motion to dismiss the complaint.<\/strong><\/p>\n

\n If you are a current Axsome (NASDAQ: AXSM) shareholder who purchased Axsome shares prior to May 10, 2021, and still hold shares today, <\/strong>
\n you may be able to <\/strong>
\n seek corporate reforms, the return of money back to the company, and a court approved incentive award at no cost to you whatsoever. Please visit <\/strong>
\n
\n https:\/\/grabarlaw.com\/the-latest\/axsome-shareholder-investigation\/<\/strong>
\n <\/a>
\n , <\/strong>
\n contact Joshua Grabar at\u00a0<\/strong>
\n
\n jgrabar@grabarlaw.com<\/strong>
\n <\/a>
\n ,<\/strong>
\n or call us at 267-507-6085<\/strong><\/p>\n

WHY?:<\/strong> An underlying securities fraud class action complaint alleges that Axsome Therapeutics (NASDAQ: AXSM), via certain of its officers, made false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, the Complaint alleges Defendants made false and\/or misleading statements and\/or failed to disclose that: (i) Axsome\u2019s chemistry, manufacturing, and control (“CMC”) practices were deficient with respect to AXS-07 and its manufacturing process; (ii) as a result, Axsome was unlikely to submit the AXS-07 NDA on its initially represented timeline; (iii) the foregoing CMC issues remained unresolved at the time that the FDA reviewed the AXS-07 NDA; (iv) accordingly, the FDA was unlikely to approve the AXS-07 NDA; (v) as a result of all the foregoing, Axsome had overstated AXS-07\u2019s regulatory and commercial prospects; and (vi) as a result, the Company\u2019s public statements were materially false and misleading at all relevant times.<\/p>\n

On March 31, 2025, the Court issued an Order denying Axsome’s Motion to Dismiss<\/strong>. The Court determined that the operative complaint sufficiently pleads material misrepresentations or omissions regarding two categories of statements: (1) Defendants\u2019 statements that the manufacturing facility and suppliers for AXS-07 were not experiencing problems and (2) Defendants\u2019 statements about AXS-07\u2019s NDA.\u00a0\u00a0<\/p>\n

\n WHAT YOU CAN DO NOW:<\/strong> If you purchased Axsome Therapeutics (NASDAQ: AXSM) prior to May 10, 2021 and still hold shares today, you are encouraged to visit https:\/\/grabarlaw.com\/the-latest\/axsome-shareholder-investigation\/<\/a>, contact Joshua Grabar at jgrabar@grabarlaw.com<\/a>, or call 267-507-6085. You may be able to seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever. $AXSM #Axsome<\/p>\n

\n
\n Driven Brands Holdings, Inc. (NASDAQ: DRVN) Class Action Survives Motion to Dismiss:<\/u>
\n <\/strong>\n <\/p>\n

\n A securities fraud class action complaint against <\/strong>
\n Driven Brands Holdings, Inc. (NASDAQ: DRVN) has survived defendants\u2019 attempts to dismiss the complaint. <\/strong>\n <\/p>\n

\n If you have held Driven Brands (NASDAQ: DRVN) shares continuously since prior to <\/strong>
\n October 27, 2021, you can<\/strong>
\n seek corporate reforms, the return of funds back to the Company, and a court approved incentive award at no cost you<\/strong>. Visit <\/strong>https:\/\/grabarlaw.com\/the-latest\/driven-brands-shareholder-investigation\/<\/strong><\/a> or <\/strong>contact Joshua H. Grabar at <\/strong>jgrabar@grabarlaw.com<\/strong><\/a> or call 267-507-6085 <\/strong>to learn more.<\/strong><\/p>\n

\n WHY:<\/strong> An underlying securities fraud class action complaint alleges that Driven Brands, through certain of its officers and directors, made numerous materially false and misleading statements and omissions pertaining to: (i) Driven Brands\u2019 ability to efficiently and effectively integrate a high volume of acquired businesses, including statements related to the status of integrating its U.S. auto glass businesses; and (ii) the performance and competitive position of Driven Brands\u2019 car wash business segment.<\/p>\n

On February 20, 2025, a Federal Court determined that the allegations in the plaintiff\u2019s underlying securities fraud class action complaint were adequately pleaded to survive defendants attempts to dismiss the complaint.<\/p>\n

\n WHAT TO DO NOW:<\/strong>
\n If you are a current Driven Brands shareholder who has held Driven Brands shares since prior to October 27, 2021<\/strong>, you <\/strong>can<\/strong> seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever.<\/strong> If you would like to learn more about this matter, you are encouraged to visit <\/strong>https:\/\/grabarlaw.com\/the-latest\/driven-brands-shareholder-investigation\/<\/strong><\/a>, contact Joshua H. Grabar at jgrabar@grabarlaw.com<\/a> or call 267-507-6085. $DRVN #DrivenBrands<\/p>\n

\n
\n Mercury Systems, Inc. (NASDAQ: MRCY) Class Action Survives Motion to Dismiss:<\/u>
\n <\/strong>\n <\/p>\n

Grabar Law Office is investigating claims on behalf of Mercury Systems, Inc. (NASDAQ: MRCY) shareholders as allegations in a securities fraud class action complaint survives motion to dismiss<\/strong>.\u00a0<\/p>\n

\n Current Mercury Systems shareholders who have held shares since prior to <\/strong>
\n February 3, 2021<\/strong>
\n , <\/strong>
\n can <\/strong>
\n seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to them whatsoever.<\/strong>
\n To learn more or join<\/strong>
\n click here:<\/strong>
\n
\n https:\/\/grabarlaw.com\/the-latest\/mercury-systems-shareholder-investigation\/<\/strong>
\n <\/a>
\n , <\/strong>
\n contact Joshua H. Grabar at\u00a0<\/strong>
\n
\n jgrabar@grabarlaw.com<\/strong>
\n <\/a>
\n , <\/strong>
\n or call us at 267-507-6085.<\/strong>\n <\/p>\n

\n WHY<\/strong>
\n :<\/strong>
\n A recently filed securities fraud class action complaint has now partially survived defendants\u2019 attempts to dismiss that complaint.<\/strong> The underlying complaint alleges that Mercury Systems (NASDAQ: MRCY), through certain of its officers and directors, used acquisitions and improper revenue recognition practices to mask its inability to grow organically. The complaint further alleges that Defendants repeatedly misled investors to believe that their growth was organic by misrepresenting several elements of Mercury\u2019s business, including by hiding that Mercury had switched from \u201cpoint-in-time\u201d to \u201clong-term contracts\u201d in order to improperly boost reported revenues and that several of Mercury\u2019s projects were in significant distress, including projects related to Mercury\u2019s acquisition of Physical Optics Corporation. Finally, the Complaint alleges Mercury also lied to investors about its strategic growth initiative, 1MPACT, which was designed to improve profit margins but unbeknownst to investors was used to disguise regular expenses as restructuring costs, enabling Mercury to claim that recurring expenses were one-time costs.<\/p>\n

\n On February 20, 2025, a Federal Court determined that certain key allegations in the plaintiff\u2019s underlying securities fraud class action complaint were adequately pleaded to survive defendants attempts to dismiss the complaint. <\/strong>\n <\/p>\n

\n WHAT YOU CAN DO NOW: <\/strong>
\n If you have held Mercury Systems shares since prior to <\/strong>
\n February 3, 2021<\/strong>, and<\/strong> would like to learn more about this matter, you are encouraged to visit <\/strong>https:\/\/grabarlaw.com\/the-latest\/mercury-systems-shareholder-investigation\/<\/strong><\/a>, contact Joshua H. Grabar at jgrabar@grabarlaw.com<\/a>, or call us at 267-507-6085. $MRCY #MercurySystems<\/p>\n

\n
\n Virtu Financial Inc. (NASDAQ: VIRT) Class Action Survives Motion to Dismiss:<\/u>
\n <\/strong>\n <\/p>\n

A federal securities fraud class action complaint alleging that Virtu Financial Inc. (NASDAQ: VIRT), and certain of its officers failed to disclose to investors that it had improper safeguards in place for sensitive trader information, has survived a motion to dismiss.<\/p>\n

Virtu shareholders who have continuously held Virtu shares since prior to November 7, 2018<\/strong>, can<\/strong> seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever. <\/strong>Learn more or join by clicking https:\/\/grabarlaw.com\/the-latest\/Virtu-shareholder-investigation\/<\/a>, contact Joshua H. Grabar at jgrabar@grabarlaw.com<\/a>, or call 267-507-6085.<\/p>\n

\n WHY<\/strong>: A securities fraud class action complaint alleges that Virtu Financial (NASDAQ: VIRT), via certain of its officers, made false and\/or misleading statements and\/or failed to disclose that: (i) the Company maintained deficient policies and procedures with respect to its information access barriers; (ii) accordingly, Virtu had overstated the Company\u2019s operational and technological efficacy as well as its capacity to block the exchange of confidential information between departments or individuals within the Company; (iii) the foregoing deficiencies increased the likelihood that the Company would be subject to enhanced regulatory scrutiny; and (iv) as a result, Defendants\u2019 public statements were materially false and\/or misleading at all relevant times.<\/p>\n

\n On March 17, 2025, a federal Court determined that key allegations were sufficiently pled to survive defendants\u2019 motion to dismiss. <\/strong>\n <\/p>\n

According to the Court\u2019s Order, “essentially anyone at Virtu, including its proprietary traders” could directly access this material non-public information from at least January 2018 through April 2019, and to do so, Virtu traders only needed to use a “widely known and frequently shared username and password.”<\/p>\n

\n WHAT YOU SHOULD DO NOW: <\/strong>If you are a current Virtu shareholder who has held Virtu stock since on or before November 7, 2018, you can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, at no cost to you whatsoever.<\/p>\n

\n If you<\/strong>
\n would like to learn more about this matter, you are encouraged visit <\/strong>
\n
\n https:\/\/grabarlaw.com\/the-latest\/Virtu-shareholder-investigation\/<\/strong>
\n <\/a>
\n , contact Joshua H. Grabar at <\/strong>
\n
\n jgrabar@grabarlaw.com<\/strong>
\n <\/a>
\n or call 267-507-6085. <\/strong>$VIRT #VirtuFinancial<\/p>\n

\n Attorney Advertising Disclaimer<\/a>\n <\/p>\n

Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: \u00a0267-507-6085
Email: jgrabar@grabarlaw.com<\/a><\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

PHILADELPHIA, April 14, 2025 (GLOBE NEWSWIRE) — Axsome Therapeutics Inc. (NASDAQ: AXSM) Class Action Survives Motion to Dismiss: Grabar Law Office is investigating claims on behalf of shareholders of Axsome Therapeutics, Inc. (NASDAQ: AXSM) as an underlying securities fraud class action has survived a motion to dismiss the complaint. If you are a current Axsome (NASDAQ: AXSM) shareholder who purchased Axsome shares prior to May 10, 2021, and still hold shares today, you may be able to seek corporate reforms, the return of money back to the company, and a court approved incentive award at no cost to you whatsoever. Please visit https:\/\/grabarlaw.com\/the-latest\/axsome-shareholder-investigation\/ , contact Joshua Grabar at\u00a0 jgrabar@grabarlaw.com , or call us at 267-507-6085 WHY?: An underlying securities fraud … <\/p>\n

Continue reading “SECURITIES FRAUD CLASS ACTIONS HAVE SURVIVED MOTIONS TO DISMISS: Long-Term Shareholders of Axsome Therapeutics, Inc. (NASDAQ: AXSM); Driven Bands Holdings, Inc. (NASDAQ: DRVN); Mercury Systems, Inc. (NASDAQ: MRCY); and Virtu Financial Inc. (NASDAQ: VIRT) Should Contact Grabar Law Office Today”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-836989","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSECURITIES FRAUD CLASS ACTIONS HAVE SURVIVED MOTIONS TO DISMISS: Long-Term Shareholders of Axsome Therapeutics, Inc. (NASDAQ: AXSM); Driven Bands Holdings, Inc. (NASDAQ: DRVN); Mercury Systems, Inc. (NASDAQ: MRCY); and Virtu Financial Inc. (NASDAQ: VIRT) Should Contact Grabar Law Office Today - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/securities-fraud-class-actions-have-survived-motions-to-dismiss-long-term-shareholders-of-axsome-therapeutics-inc-nasdaq-axsm-driven-bands-holdings-inc-nasdaq-drvn-mercury-systems-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SECURITIES FRAUD CLASS ACTIONS HAVE SURVIVED MOTIONS TO DISMISS: Long-Term Shareholders of Axsome Therapeutics, Inc. (NASDAQ: AXSM); Driven Bands Holdings, Inc. (NASDAQ: DRVN); Mercury Systems, Inc. (NASDAQ: MRCY); and Virtu Financial Inc. 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Please visit https:\/\/grabarlaw.com\/the-latest\/axsome-shareholder-investigation\/ , contact Joshua Grabar at\u00a0 jgrabar@grabarlaw.com , or call us at 267-507-6085 WHY?: An underlying securities fraud … Continue reading "SECURITIES FRAUD CLASS ACTIONS HAVE SURVIVED MOTIONS TO DISMISS: Long-Term Shareholders of Axsome Therapeutics, Inc. (NASDAQ: AXSM); Driven Bands Holdings, Inc. (NASDAQ: DRVN); Mercury Systems, Inc. (NASDAQ: MRCY); and Virtu Financial Inc. 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(NASDAQ: AXSM); Driven Bands Holdings, Inc. (NASDAQ: DRVN); Mercury Systems, Inc. (NASDAQ: MRCY); and Virtu Financial Inc. (NASDAQ: VIRT) Should Contact Grabar Law Office Today - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/securities-fraud-class-actions-have-survived-motions-to-dismiss-long-term-shareholders-of-axsome-therapeutics-inc-nasdaq-axsm-driven-bands-holdings-inc-nasdaq-drvn-mercury-systems-inc\/","og_locale":"en_US","og_type":"article","og_title":"SECURITIES FRAUD CLASS ACTIONS HAVE SURVIVED MOTIONS TO DISMISS: Long-Term Shareholders of Axsome Therapeutics, Inc. (NASDAQ: AXSM); Driven Bands Holdings, Inc. (NASDAQ: DRVN); Mercury Systems, Inc. (NASDAQ: MRCY); and Virtu Financial Inc. (NASDAQ: VIRT) Should Contact Grabar Law Office Today - Market Newsdesk","og_description":"PHILADELPHIA, April 14, 2025 (GLOBE NEWSWIRE) — Axsome Therapeutics Inc. (NASDAQ: AXSM) Class Action Survives Motion to Dismiss: Grabar Law Office is investigating claims on behalf of shareholders of Axsome Therapeutics, Inc. (NASDAQ: AXSM) as an underlying securities fraud class action has survived a motion to dismiss the complaint. If you are a current Axsome (NASDAQ: AXSM) shareholder who purchased Axsome shares prior to May 10, 2021, and still hold shares today, you may be able to seek corporate reforms, the return of money back to the company, and a court approved incentive award at no cost to you whatsoever. Please visit https:\/\/grabarlaw.com\/the-latest\/axsome-shareholder-investigation\/ , contact Joshua Grabar at\u00a0 jgrabar@grabarlaw.com , or call us at 267-507-6085 WHY?: An underlying securities fraud … Continue reading \"SECURITIES FRAUD CLASS ACTIONS HAVE SURVIVED MOTIONS TO DISMISS: Long-Term Shareholders of Axsome Therapeutics, Inc. (NASDAQ: AXSM); Driven Bands Holdings, Inc. (NASDAQ: DRVN); Mercury Systems, Inc. (NASDAQ: MRCY); and Virtu Financial Inc. 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