Investor Fraud Lawsuits
Pomerantz Files Securities Fraud Class Actions Against Five Companies, Citing Investor Losses
Key Points
For Via Transportation, Pomerantz says the company’s IPO priced on “September 15, 2025” at “$46.00 per share” (10,714,285 shares) and that the firm alleges Via had already started encountering growth obstacles at the time of the offering, including “a decline in annual recurring revenue (“ARR”) per customer for the first time in eight quarters.”
For Grail, Pomerantz cites Grail’s own explanation that the NHS-Galleri Trial “shortcoming” occurred in part because it “probably need[ed] a longer follow-up time to be able to [compare the study arms] adequately,” according to the class action notice.
For Roblox, Pomerantz says the company reported not only declines in revenue guidance and bookings growth, but also “reductions in communication engagement, app store ratings, and organic sign-ups as a result of the rollout of the Company’s age-verification process” in its “2026 first quarter results” announced April 30, 2026.
For Badger Meter, the notice details the alleged earnings/revenue misses: “earnings per share of $0.93, missing consensus estimates by $0.26” and “revenue of $202.03 million, missing consensus estimates by $28.58 million,” alongside a disclosure that “utility water sales declined 10% year-over-year.”
For ADMA Biologics, Pomerantz includes Culper Research’s allegation that “absent channel stuffing, ADMA revenues declined 3% in 2025 vs. +20% reported,” and adds that Cantor Fitzgerald downgraded ADMA on March 26, 2026, saying the company’s response lacked “specific feedback addressing the direct claims in the report.”
Pomerantz LLP has filed securities fraud class actions against five companies — Via Transportation, Grail, Roblox, Badger Meter, and ADMA Biologics — with lead plaintiff deadlines falling in August 2026, according to Financial Content. The cases follow steep stock drops tied to failed clinical trials, missed earnings, a botched safety rollout, and allegations of fake growth through channel stuffing.
Across the five cases, investors have watched billions in market value disappear. Grail shares fell 50.5% in a single day in February 2026. Roblox dropped 18% in April. Badger Meter shed 24% after missing earnings by a wide margin. Each company now faces a federal class action, and investors must act before August deadlines to seek a lead plaintiff role.
Via and Grail Hit Hard After Key Disclosures
Via Transportation went public on September 15, 2025, at $46.00 per share, raising roughly $493 million. Financial Content reports that Pomerantz alleges Via was already struggling at the time of its IPO. In November 2025, Via reported its first decline in annual recurring revenue per customer in eight quarters — a metric that tracks how much each client pays over time. Shares dropped 14.6% on that news.
Grail's collapse came on February 19, 2026, when the company revealed its NHS-Galleri cancer detection trial failed to show a statistically significant drop in late-stage cancer diagnoses. Grail's own CEO said the trial "probably need[ed] a longer follow-up time" to compare study groups fairly, according to Financial Content. The stock lost more than half its value the next day. The lead plaintiff deadline is August 4, 2026.
Roblox Age-Verification Rollout Backfires in Q1 2026
Roblox CEO David Baszucki had called the company's age-verification system a "no friction" gold standard. But on April 30, 2026, Roblox reported its first-quarter results and the picture looked very different. Financial Content says the company disclosed "reductions in communication engagement, app store ratings, and organic sign-ups" tied directly to the rollout. Revenue guidance was also cut.
Shares fell 18% on the news, erasing roughly $6.7 billion in market value. Roblox had told investors in February 2026 that full-year bookings would grow 22–26%. The April results made those projections look unrealistic. The lead plaintiff deadline for Roblox investors is August 7, 2026.
Badger Meter Misses Big; ADMA Accused of Faking Growth
Badger Meter reported first-quarter 2026 earnings of $0.93 per share — missing Wall Street estimates by $0.26. Revenue came in at $202.03 million, falling $28.58 million short of expectations, per Financial Content. On top of that, the company said utility water sales fell 10% year-over-year. Shares plunged 24%. Management blamed "project pacing" and budget pressures, but the class action says investors were misled.
ADMA Biologics faces a different kind of allegation. On March 24, 2026, short-seller Culper Research published a report claiming that "absent channel stuffing, ADMA revenues declined 3% in 2025" — compared to the 20% growth the company reported. Channel stuffing means pushing excess product to distributors to inflate revenue. Two days later, Cantor Fitzgerald downgraded ADMA, saying the company's response lacked "specific feedback addressing the direct claims in the report," according to Financial Content. ADMA stock fell a combined 30% over the two days. The deadline for both Badger Meter and ADMA investors is August 10, 2026.
What Investors Need to Do Before August Deadlines
To serve as lead plaintiff — the investor who directs the lawsuit on behalf of the class — investors must file a motion with the court before each case's deadline. The deadlines run from August 3 (Badger Meter) through August 10, 2026 (Via and ADMA). Being lead plaintiff is not required to recover money, but it gives the most control over the case's direction.
After the August deadlines pass, courts will appoint lead plaintiffs and the cases will move into discovery — the phase where lawyers dig through internal emails and records. For ADMA and Badger Meter, that means scrutiny of distributor contracts and sales records. For Grail, it means examining what executives knew about trial design before disclosing results to the public.
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