Law firms launch securities suits against five companies over alleged disclosures

Law firms announced or reminded investors about securities class actions involving five companies, alleging fraud, misleading disclosures or unlawful trading practices. XTI Aerospace faces claims tied to a delayed quarterly filing and an internal review of its former CEO and corporate-governance matters, after its stock fell nearly 16% following the disclosure. Smartsheet investors allege the company repurchased about 1.13 million shares without revealing acquisition discussions involving Blackstone and Vista, which later agreed to buy the company at a premium. Park Ha Biological Technology is accused of being used in a social-media-driven pump-and-dump scheme involving alleged impersonation of financial professionals and misleading promotions after its IPO. York Space Systems investors cite allegations that the Pentagon canceled a major program accounting for most of the company’s revenue and that the company misrepresented its contracts and satellite capabilities. GoDaddy investors allege the company did not adequately disclose that discounted one-year domain promotions were reducing bookings and average order values before reporting a sharp slowdown in bookings growth.