NEW YORK, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against MaxLinear, Inc. (NASDAQ: MXL), Bumble Inc. (NASDAQ:BMBL), SmartRent, Inc. (NYSE: SMRT), and Domino’s Pizza, Inc. (NSYE: DPZ). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
MaxLinear, Inc. (NASDAQ: MXL)
Following the close of the financial markets on July 24, 2024, MaxLinear publicly disclosed its earnings results for the second fiscal quarter of 2024. The company reported net revenue amounting to $92 million for the quarter, representing a significant decrease of 50% compared to the corresponding period in the prior year. MaxLinear identified several contributing factors to this substantial decline in revenue, notably attributing it, at least in part, to the prolonged depletion of excess customer inventory, which has resulted in a consequent weakening of demand for its products.
Following this news, the stock was trading down 29% during early morning trading on July 25, 2024.
For more information on the MaxLinear investigation go to: https://bespc.com/cases/MXL
Bumble Inc. (NASDAQ:BMBL)
Bumble announced on August 7, 2024, its second-quarter results and adjusted guidance for the full year, significantly lowering its revenue growth expectations. The company now anticipates a year-over-year total revenue growth of 1% to 2% for 2024, a sharp decline from the previous forecast of 8% to 11% issued in May.
Following this news, Bumble stock dropped over 40% during pre-market trading on August 8, 2024.
For more information on the Bumble investigation go to: https://bespc.com/cases/BMBL
SmartRent, Inc. (NYSE: SMRT)
On July 30, 2024, SmartRent announced a CEO transition plan under which Lucas Haldeman has stepped down from his position as Chief Executive Officer and resigned from the Board of Directors, effective July 29, 2024. Also on July 30, 2024, the company suspended their 2024 guidance.
On this news, the company's stock fell $0.47, or 19.58% to close at $1.93 on July 30, 2024.
For more information on the SmartRent investigation go to: https://bespc.com/cases/SMRT
Domino’s Pizza, Inc. (NSYE: DPZ)
On July 18, 2024, Domino's issued a press announcing its financial results for the second quarter of 2024. Among other items, Domino's disclosed that it "expects it will fall 175 to 275 stores below its 2024 goal of 925+ net stores in international primarily as a result of challenges in both openings and closures being faced by Domino's Pizza Enterprises ('DPE'), one of its master franchisees." Accordingly, "[t]he Company is temporarily suspending its guidance metric of 1,100+ global net stores until the full effect of DPE's store opens and closures on international net store growth are known."
On this news, the Company's stock price fell $64.23 per share, or 13.57%, to close at $409.04 per share on July 18, 2024.
For more information on the Domino’s investigation go to: https://bespc.com/cases/DPZ
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
