In a November 3 letter to SEC Chairman Paul Atkins, the group criticized the September decision as “costly, unproven, and unwieldy,” warning that forced arbitration undermines transparency and accountability for investors. “Forced arbitration creates costly, uncertain, and inefficient proceedings that benefit no one—not participants, not plan sponsors, and ultimately not the companies themselves,” said Michael D. Scott, executive director of the National Coordinating Committee for Multiemployer Plans, in a statement to Bloomberg Law.

Read the full article on Bloomberg News (subscription required).

Class Period: February 23, 2022 – July 30, 2025

Lead Plaintiff Motion Deadline: December 15, 2025

Case information: https://lieffcabraser.com/securities/baxter/

Contact us: Email or text investorinfo@lchb.com or call 1-800-541-7358

Baxter, headquartered in Deerfield, Illinois, develops, manufactures, and markets medical products used in the healthcare industry. The Company recently launched the Novum LVP, a device that controls the delivery of intravenous (“IV”) fluids that carry medications, blood products, and nutrients to patients.

The action alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (a) Novum LVPs had been hampered by systemic defects causing malfunctions such as underinfusion, overinfusion, and non-delivery of fluids, which subject patients to serious risk of injury or death; (b) Baxter was notified of those Novum LVP malfunctions and related injuries and deaths; (c) Baxter’s attempts to remedy those defects were inadequate and  Novum LVP’s design flaws continued to cause serious harm to patients; and (d) as a result of the foregoing, there was a significant risk that Novum LVP customers would be asked to discontinue using existing Novum LVPs and that Baxter would pause new sales of the devices.

On April 7, 2025, Missouri news outlet KMOV reported significant safety issues with Novum LVP, specifically regarding the device’s inaccurate infusion rates, based on information from a whistleblower.  The KMOV report prompted the hospital system to take all its Novum LVPs out of service. Baxter nevertheless continued to promote the launch of Novum LVP and claimed it was a safe product.

On April 24, 2025, Baxter sent Novum LVP customers a warning letter about the device’s potential underinfusion risks and disclosed there had been only one serious injury linked to this issue.

On July 14, 2025, Baxter sent Novum LVP customers a second warning letter about the device’s risk of both underinfusion and overinfusion. The letter also disclosed that Baxter had received 79 serious injury reports and two reports of patient deaths tied to the device’s safety issues. Baxter, however, did not instruct hospitals to remove their Novum LVPs from service but rather directed them on correction steps while continuing to use the devices.

On July 31, 2025, Baxter announced that it was “voluntarily and temporarily paus[ing] shipments and planned installations of the Novum LVP,” and that the Company was “unable to currently commit to an exact timing for resuming shipment[s] and installation[s] for Novum LVPs.” Baxter’s Chief Operating Officer explained that the sales halt was in response to issues “we saw through our quality listening systems, customer feedback, and honestly our infusion data.” Following this news, Baxter’s stock price fell $6.29 per share, or 22.42%, from its closing price of $28.05 on July 30, 2025, to close at $21.76 on July 31, 2025, on significantly elevated trading volume.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with over 125 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally-recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Repeatedly recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.

Source/Contact

Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com

The NCPERS Annual Conference and Exhibition (ACE) is a comprehensive educational program tailored for professionals in the public pension community. It is where public pension trustees, staff, and the industry partners that serve them assemble to learn, exchange ideas, strategize solutions, and make valuable connections.

For more details and to register, visit the NCPERS website.

Class Period: May 25, 2022 – January 17, 2023

Lead Plaintiff Motion Deadline: January 29, 2024

Case information: 144.202.114.179/securities/nati

Contact us: Email or text investorinfo@lchb.com or call 1-800-541-7358

National Instruments produces automated test equipment and virtual instrumentation software.

The securities class action alleges that, during the Class Period, Defendants failed to disclose to investors that National Instruments had received a formal acquisition offer from Emerson Electric Co. (“Emerson”) in May 2022 to purchase all outstanding shares of NATI common stock at prices significantly above the then-current market prices of NATI common stock.

Instead of abiding by its duty to disclose the formal acquisition offer from Emerson or abstain from repurchasing NATI stock, Defendants kept Emerson’s initial offer and its subsequent improved offers secret while engaging in the largest stock buy-back in the Company’s history, thereby harming investors who sold NATI stock at artificially deflated prices.

On January 13, 2023, National Instruments announced that its Board had initiated a strategic review and evaluation of strategic options.  On this news, the price of NATI stock rose $7.61 per share, or 19.7%, to close at $46.17 on January 13, 2023.

On January 17, 2023, Emerson announced that it had made an all-cash offer with no financing contingency and no substantive regulatory impediments to purchase all of NATI’s shares for $53 per share.  Emerson revealed the timeline of its previous communications with National Instruments and how, in response to its offer, National Instruments had increased its financial guidance despite its continued margin expansion and other challenges.  Following this news, the price of NATI shares skyrocketed to a high of $54.69 per share on January 17, 2023, 18% higher than the closing price of NATI stock on January 16, 2023.

On April 12, 2023, Emerson announced that it entered into a definitive agreement to acquire National Instruments for $60 per share in cash at an equity value of $8.2 billion, representing a premium of nearly 50% over NATI’s closing price on January 12, 2023. The deal closed on October 11, 2023.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with over 120 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.

Source/Contact

Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com

Class Period: May 28, 2020 – August 31, 2023

Lead Plaintiff Motion Deadline: January 26, 2024

Case information: 144.202.114.179/securities/dg

Contact us: Email or text investorinfo@lchb.com or call 1-800-541-7358

Dollar General is a discount retailer that sells consumer goods throughout the United States.

The action alleges Dollar General made false and/or misleading statements and/or failed to disclose that its stores were chronically understaffed, experienced widespread logistical and inventory management problems, and systematically overcharged customers for items above the listed price. These practices exposed the Company to regulatory scrutiny and reputational harm, and unlawfully boosted the Company’s reported revenue and profits in an unsustainable fashion. Defendant executives took advantage of the artificial inflation in Dollar General’s stock price caused by the fraudulent scheme and sold hundreds of millions of dollars of their personal Dollar General stock.

On February 23, 2023, Dollar General announced disappointing preliminary fourth quarter and fiscal year 2022 (“4Q22” and “FY22,” respectively) sales and earnings well below its previously issued guidance. On this news, Dollar General’s stock price fell $8.16 per share, or 3.62%, from its closing price of $225.27 per share on February 22, 2023, to close at $217.11 per share on February 23, 2023, on unusually high trading volume.

On March 16, 2023, the Company reported disappointing 4Q22 and FY22 financial results, including net sales well below its previously issued guidance. The Company noted a “decrease in customer traffic” and attributed the sales miss on store closures. On this news, Dollar General’s stock price declined $6.47 per share, or 2.96%, from its closing price of $218.56 per share on March 15, 2023, to close at $212.09 per share on March 16, 2023 on elevated trading volume.

On June 1, 2023, Dollar General reported disappointing fiscal first quarter 2023 (“1Q23”) results, including quarterly revenue $130 million below analysts’ estimates. The Company also lowered its earnings and sales forecast for fiscal year 2023 (“FY23”). The Company projected earnings per share to fall by up to 8% year-over-year instead of grow by 4% to 6%, as defendants previously claimed. On this news, the Company’s stock price dropped by $39.23 per share, or 19.51%, from its closing price of $201.09 per share on May 31, 2023 to close at $161.86 per share on June 1, 2023 on extremely high trading volume.

On August 31, 2023, Dollar General again reported disappointing sales and earnings for its second quarter 2023 (“2Q23”), and lowered its FY23 sales and profit outlook again. In an earnings press release, Dollar General’s Chief Executive Officer acknowledged that the Company had been undergoing problems with logistics, store management, staffing, and pricing. On this news, Dollar General’s stock price fell $19.16 per share, or 12.15%, from its closing price of $157.66 per share on August 30, 2023, to close at $138.50 per share on August 31, 2023 on extremely high trading volume.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with over 120 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.

Source/Contact

Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com

Class Period: February 9, 2022 – October 30, 2023

Lead Plaintiff Motion Deadline: January 8, 2024

Case information: 144.202.114.179/securities/fmc

Contact us: Email or text investorinfo@lchb.com or call 1-800-541-7358

FMC is an agricultural sciences company. Its core business involves the sale of patented diamide products, a type of insecticide. The Company relies upon its various patents and other intellectual property to deter competition and to generate revenue.

The action alleges FMC made false and/or misleading statements and/or failed to disclose that it was vulnerable to generic competition in India, China, and Brazil because of a series of legal and regulatory setbacks related to the Company’s patents in those countries, and, as a result, FMC’s business and prospects were much worse than defendants claimed.

On July 10, 2023, before the market opened, the Company announced that it was lowering its guidance for the second quarter and full year 2023. Specifically, for the second quarter, FMC lowered its revenue guidance from between $1.42 billion and $1.48 billion, to between $1.0 billion and $1.03 billion, and reduced its Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (“Adjusted EBITDA”) guidance from between $350 million and $370 million to between $185 million and $190 million. For 2023, the Company lowered its revenue guidance from between $6.08 billion and $6.22 billion to between $5.2 billion and $5.4 billion, and reduced its Adjusted EBITDA guidance from between $1.5 billion and $1.56 billion to between $1.3 billion and $1.4 billion. FMC attributed the lower guidance to “substantially lower-than-expected volumes due to an abrupt and significant reduction in inventory by channel partners.” On this news, the Company’s stock price declined $11.62 per share, or 11.15%, from its closing price of $104.25 per share on July 7, 2023, to close at $92.63 on July 10, 2023, on elevated trading volume.

On August 2, 2023, FMC issued a press release announcing its second quarter 2023 results in line with its lowered guidance, and confirmed its revised full-year outlook.

On September 7, 2023, before the market opened, investment firm Blue Orca Capital published a report alleging that the Company’s recent legal defeats and regulatory setbacks had enabled competitors to launch competing generics at prices up to 80% below the price of FMC’s flagship insecticide. In addition, according to the report, contrary to the Company’s claims, its process patents did not protect its flagship product from generic competition in India, China, and Brazil. Moreover, the report noted that FMC faced demand issues and downward pricing pressures in Brazil. On this news, the Company’s stock price fell $6.09 per share, or 7.41%, from its closing price of $82.19 per share on September 6, 2023, to close at $76.10 on September 7, 2023, on elevated trading volume.

On October 23, 2023, before the market opened, FMC announced lower guidance for the third quarter, fourth quarter, and full year 2023 largely due to substantially lower sales volumes in Latin America, particularly destocking in Brazil. The Company forecasted $982 million in revenue and Adjusted EBITDA of $175 million for the third quarter and, for the fourth quarter, between $1.139 billion and $1.379 billion in revenue and Adjusted EBITDA of between $246 million and $306 million. For full year, FMC lowered its guidance to between $4.48 billion to $4.72 billion in revenue, and Adjusted EBITDA of between $970 million and $1.03 billion. On this news, the Company’s stock price fell $8.83 per share, or 13.19%, from its closing price of $66.95 per share on October 20, 2023, to close at $58.12 per share on October 23, 2023, on elevated trading volume.

Finally, on October 30, 2023, FMC announced its financial results for the third quarter of 2023, including a 29% revenue decline in the quarter, attributed primarily to reduced customer demand in Brazil. During the Company’s earnings call with analysts and investors, FMC’s Chief Executive Officer, defendant Mark Douglas, stated that the decline was also due to reduced customer demand in Asia, especially in India. On this news, the Company’s stock price fell $4.76 per share, or 8.21%, from its closing price of $57.96 per share on October 30, 2023, to close at $53.20 per share on October 31, 2023, on elevated trading volume.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with over 120 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.

Source/Contact

Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com

Class Period: November 8, 2022 – September 17, 2023

Lead Plaintiff Motion Deadline: December 26, 2023

Case information: 144.202.114.179/securities/docgo

Contact us:  Email or text investorinfo@lchb.com or call 1-800-541-7358

DocGo provides mobile health and medical transportation services. In spring 2023, the city of New York awarded a no-bid $432 million contract (the “Relocation Contract”) to DocGo to house international migrants and provide them with case management, medical care, food, transportation, lodging, and security services.

The action alleges that, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (i) DocGo failed to adequately vet the professional and academic backgrounds of job candidates; (ii) this failure increased the likelihood of  executive turnover; (iii) the Company overstated the efficacy of the mobile health and medical transportation services, the same services contemplated by the Relocation Contract; and (iv) the revelation of these issues would likely cause reputational harm and/or regulatory scrutiny that would negatively impact the Company’s financial position and/or prospects.

On Sunday, July 30, 2023, the New York Times reported that there was “rocky” start to DocGo’s migrant relocation assistance in New York City, noting that “[l]ocal authorities have expressed frustration at the lack of coordination between DocGo and agencies that could provide services to the migrants; local security guards hired by DocGo have repeatedly threatened the migrants; and finding steady work has been nearly impossible[.]”   On this news, the price of DocGo stock fell $0.36 per share, or 4.11%, from a previous closing price of $8.75 on July 28, 2023, to close at $8.39 per share on July 31, 2023, on elevated trading volume.

On August 22, 2023, the Albany Times Union reported that the Attorney General of New York commenced an investigation into DocGo and warned the Company to cease limiting migrants’ speech or movement.

On September 6, 2023, the New York City Comptroller’s Office announced that it was declining to approve the Relocation Contract. On this news, the price of DocGo stock fell $0.61 per share, or 7.47%, from a closing price of $8.16 on September 5, 2023, to close at $7.55 per share on September 6, 2023, on heavy trading volume.

On September 14, 2023, the Albany Times Union reported that Anthony Capone, DocGo’s then- Chief Executive Officer (“CEO”), had misrepresented his educational history.

On September 15, 2023, DocGo announced Capone’s resignation as CEO. On this news, the price of DocGo’s stock fell $0.76, or 11.76%, from a previous closing price of $6.46, to close at $5.70 per share on September 15, 2023, on heavy trading volume.

On September 18, 2023, the New York City Comptroller’s Office announced that it had begun a real-time audit of operations and invoices incurred by DocGo in connection with the Relocation Contract. On this news, the price of DocGo’s stock fell $0.41 per share, or 7.19%, to close at $5.29 per share on September 18, 2023, on heavy trading volume.

About Lieff Cabraser

Lieff Cabraser Heimann & Bernstein, LLP, with over 120 attorneys in offices in San Francisco, New York, Nashville, and Munich, Germany, is an internationally recognized law firm committed to advancing the rights of investors and promoting corporate responsibility. Recognized as a “Plaintiffs’ Powerhouse” by Law360, Lieff Cabraser has litigated some of the most important civil cases in the United States, and has assisted clients in recovering over $129 billion in verdicts and settlements. For over 50 years, Lieff Cabraser has remained committed to ensuring access to justice for all.

Source/Contact

Sharon Lee
Lieff Cabraser Heimann & Bernstein, LLP
415 956-1000
slee@lchb.com

The Societal and Economic Impact of Corporate Fraud

Corporate fraud can take many forms, including securities fraud, insider trading, embezzlement, and accounting scandals. The ramifications of these fraudulent activities can be extensive, affecting multiple aspects of society and the economy:

• Financial losses for investors and shareholders: Investors and shareholders often bear the brunt of corporate fraud, suffering significant financial losses as a result of dishonest practices. In some cases, the impact can be devastating, with individuals losing their life savings or retirement funds.
• Erosion of trust in financial markets: Corporate fraud undermines the integrity of financial markets and erodes public confidence in the system. This can lead to reduced investments, slower economic growth, and increased skepticism towards businesses in general.
• Job losses and business closures: Fraudulent practices can lead to the collapse of entire companies, resulting in job losses, reduced economic activity, and negative ripple effects throughout the country.
• Impact on government resources: In some cases, corporate fraud can result in a significant loss of public funds due to tax evasion or the misuse of government grants and subsidies. This can strain government budgets and divert resources away from essential services.
• Increased regulatory burden: In response to high-profile cases of corporate fraud, governments often have no choice but to introduce stricter regulations and oversight, which can impose additional costs on businesses and stifle innovation.

The Role of Plaintiff Lawyers in Fighting Corporate Fraud

Plaintiff lawyers play a crucial role in addressing the issue of corporate fraud by representing victims and seeking justice on their behalf. Some of their key responsibilities include:

• Investigating and uncovering fraud: Plaintiff lawyers work diligently to gather evidence, analyze financial records, and interview witnesses to build a strong case against the perpetrators of corporate fraud.
• Holding wrongdoers accountable: By pursuing civil litigation, plaintiff lawyers help ensure that those responsible for fraudulent activities are held accountable for their actions. This can include securing financial compensation for victims and, in some cases, prompting criminal investigations and prosecutions.
• Restitution for victims: Through successful litigation, plaintiff lawyers can help victims of corporate fraud recover some or all of their financial losses. This compensation can be vital for individuals who have suffered significant financial harm and can also provide a sense of closure and justice.
• Deterrence effect: By holding corporations accountable for fraud, plaintiff lawyers send a clear message that such behavior will not be tolerated. This can deter other companies from engaging in similar practices and help promote a culture of honesty and transparency in the business world.
• Corporate fraud has far-reaching societal and economic consequences, and plaintiff lawyers play an essential role in addressing this issue. By representing victims of financial misconduct, they help to hold wrongdoers accountable, recover financial losses, and deter future fraud. Ultimately, their work contributes to a more transparent and ethical business environment, benefiting society as a whole.

The settlement represents the largest-ever Caremark cash settlement in Delaware court.

The terms of the settlement call for a $237.5 million cash payment to be made to Boeing on behalf of the company’s directors-and-officers liability insurers. The settlement also provides for significant corporate governance measures. Boeing will establish a five-year Ombudsperson Program that provides Boeing employees with a channel for raising internal safety issues. The Ombudsperson, who will report to Boeing’s Chief Aerospace Safety Officer, will also weigh any concerns about interference or transparency related to a Federal Aviation Administration delegation program.  Boeing also agreed as part of the settlement to: (1) elect an additional board director with aviation, engineering or product-safety oversight experience; (2) codify separation of the chief executive officer and Board chairperson roles in its bylaws; (3) ensure at least three Board directors have “knowledge, experience and/or expertise with aviation/aerospace, engineering and/or product safety oversight”; (4) implement mandatory reporting from Boeing’s Chief Aerospace Safety Officer and Chief Compliance Officer to its Aerospace Safety Committee; and (5) ensure public disclosure of Boeing’s safety enhancement programs.

On December 17, 2021, Lieff Cabaser filed a lawsuit on behalf of certain MFS Funds against FirstEnergy Corp. and certain of FirstEnergy’s senior officers and directors for violations of the Securities Act of 1933 and/or the Securities Exchange Act of 1934 arising from defendants’ illegal bribery and money laundering scheme while concealing the truth and its attendant risks as well as other material facts regarding the Company’s business operations and financial results from investors during the relevant period.

The action was filed in the U.S. District Court for the Southern District of Ohio. The suit seeks compensatory damages as well as extraordinary, injunctive, or equitable relief, including rescission, as appropriate.

Learn more about the FirstEnergy securities fraud litigation.