Shareholder investigations, before a lawsuit is filed.

Henzel Law is investigating potential securities fraud claims on behalf of shareholders of Alignment Healthcare, Inc. (NASDAQ: ALHC), a Medicare Advantage insurer based in Orange, California. The investigation concerns whether the Company and certain of its officers made materially misleading statements about its adjusted EBITDA, its medical cost trends and the Medicare Star Ratings of its largest health plan contract. No lawsuit has been filed yet in this matter.

On February 27, 2025, Alignment reported its 2024 results and announced its first full year of positive adjusted EBITDA as a public company, a reported $1.3 million. On July 8, 2026, news reports described a lawsuit filed by a former Alignment executive alleging that $8 million to $10 million of routine operating expenses were recorded as capital expenditures in 2024. Alignment's stock fell $4.02 per share, or 16.7%, to close at $20.03 that day. The Company has denied the allegations, has stated that an outside review found them to be without basis, and has asked the court to dismiss that lawsuit.

The stock fell again after the Company reported second-quarter results on July 30, 2026. On September 15, 2026, it fell 19.8% after management described higher third-quarter medical costs and $10 million to $11 million of additional second-half spending at an investor conference.

On October 8, 2026, the Centers for Medicare & Medicaid Services released its 2027 Star Ratings, lowering the Company's California HMO contract, which covers about 75% of its health plan members, from 4.0 stars to 3.5 stars and putting future quality bonus payments at risk. The stock opened about 20% lower on October 9, 2026, and closed at $7.55.

Shareholders who purchased or otherwise acquired Alignment Healthcare, Inc. (NASDAQ: ALHC) securities between February 27, 2025 and October 8, 2026 and lost money may have been affected. That period is the firm's own estimate for purposes of this investigation. It has not been set or approved by any court. If you have questions about your Alignment Healthcare holdings, you are welcome to submit your information below for a free, no-obligation review.

Henzel Law is investigating potential securities claims on behalf of shareholders of Build-A-Bear Workshop, Inc. (“Build-A-Bear” or the “Company”) (NYSE: BBW), following a steep stock decline after the Company's second-quarter fiscal 2026 results and reduced full-year outlook. No lawsuit has been filed yet in this matter, and no specific misrepresentation has yet been identified — the investigation centers on whether the Company's prior public statements adequately reflected the risks that materialized in its second-quarter results.

On August 28, 2026, Build-A-Bear reported fiscal second-quarter 2026 revenue of $115.3 million for the 13 weeks ended August 1, down 7.2% from $124.2 million a year earlier — short of analyst estimates near $121 million. Net retail sales fell 7.1% to approximately $106.5 million, and consolidated e-commerce demand fell 15.6%. Pre-tax income declined to $11.6 million from $15.3 million, and diluted earnings per share fell to $0.70 from $0.94. The Company also disclosed it had been unable to renew a multimillion-dollar wholesale partnership with Walmart, and that other wholesale opportunities were progressing more slowly than expected.

Build-A-Bear cut its fiscal 2026 revenue guidance to a range of $500–525 million, down from a prior range of $530–550 million, and lowered its expected pre-tax income to $60–68 million. The outlook cut followed an earlier guidance reduction issued earlier in fiscal 2026 citing softer store traffic.

On this news, Build-A-Bear shares fell 27.3%, closing at $28.44 on August 27, 2026 — the largest one-day percentage decline in the Company's history, and its lowest share price in roughly two years. Following the decline, shares were down approximately 54% for 2026. The disclosures came during a leadership transition: longtime CEO Sharon Price John retired earlier in 2026, with Chris Hurt succeeding her in June, and the Company separately terminated its Chief Growth Officer, effective August 26, 2026.

Henzel Law is investigating potential securities claims on behalf of shareholders of Cardinal Infrastructure Group Inc. (NASDAQ: CDNL), a civil infrastructure and site development contractor based in Raleigh, North Carolina. The investigation concerns whether the Company and certain of its officers made materially misleading statements about its profit margins, its costs and the performance of an acquired business, including in the documents used to sell stock to the public in June 2026. No lawsuit has been filed yet in this matter.

Cardinal completed its initial public offering in December 2025 at $21.00 per share. On February 18, 2026, it announced the $245.5 million acquisition of A.L. Grading Contractors and issued 2026 guidance calling for an adjusted EBITDA margin above 20%. In late June 2026, the Company sold 4,000,000 additional shares to the public at $73.00 per share.

On August 11, 2026, about seven weeks after the offering, Cardinal reported second-quarter results showing an adjusted EBITDA margin of 12.4%, compared with 18.6% a year earlier, and lowered its full-year margin guidance to a range of 16% to 18%. The Company pointed to higher labor, equipment and subcontractor costs. The stock fell $21.73 per share, or about 36%, from $60.00 to $38.27. It has continued to decline, closing at $21.12 on October 9, 2026, near its IPO price and well below the June offering price.

Shareholders who purchased or otherwise acquired Cardinal Infrastructure Group Inc. (NASDAQ: CDNL) securities between February 18, 2026 and August 10, 2026, or who bought shares in or traceable to the June 2026 public offering, and lost money may have been affected. That period is the firm's own estimate for purposes of this investigation. It has not been set or approved by any court. If you have questions about your Cardinal holdings, you are welcome to submit your information below for a free, no-obligation review.

Henzel Law is investigating potential securities claims on behalf of shareholders of Elauwit Connection, Inc. (“Elauwit” or the “Company”) (NASDAQ: ELWT), relating to the accuracy of the Company's interim financial statements for the first nine months of fiscal 2025 and the timeliness of its disclosure of an accounting error affecting those statements. No lawsuit has been filed yet in this matter.

Elauwit provides broadband internet network design, installation, and managed services to multifamily and student-housing properties. The Company completed its initial public offering on NASDAQ on November 5, 2025. On December 10, 2025, Elauwit filed a Form 10-Q for the quarter ended September 30, 2025.

On February 27, 2026, Elauwit filed a Form 8-K disclosing that its previously issued interim financial statements for the nine months ended September 30, 2025 could no longer be relied upon, citing “an error specific to network construction project revenue recognition” during that period. The Company stated the restatement did not involve intentional misconduct by the Company, its management, or its employees, and attributed the error to work performed by a third-party accounting firm that assisted before and after the Company's IPO. On this news, Elauwit shares fell $0.52 per share, or 6.8%, to close at $7.12 on March 2, 2026.

Henzel Law is investigating potential securities claims on behalf of investors in Jefferies Financial Group Inc. (“Jefferies” or the “Company”) (NYSE: JEF), related to the Company's exposure to First Brands Group through its Point Bonita Capital fund, and Jefferies' disclosures about that exposure.

First Brands Group, an auto-parts supplier, filed for bankruptcy in September 2025 amid allegations that it used fabricated invoices and pledged the same receivables to multiple lenders more than once. Jefferies' Point Bonita Capital fund, managed through its Leucadia Asset Management unit, held a large position in First Brands receivables. On October 8, 2025, the Financial Times reported that Point Bonita held approximately $715 million of First Brands exposure — roughly a quarter of the fund's trade-finance portfolio — and Jefferies stock fell on the news.

On November 27, 2025, the Financial Times reported that the SEC was investigating what Jefferies told Point Bonita investors about the First Brands exposure, along with related internal-control and conflict-of-interest questions. In January 2026, Jefferies disclosed a $30 million loss tied to the First Brands collapse. Separately, Western Alliance Bancorporation had extended a warehouse loan to Point Bonita, secured by First Brands receivables; the balance was paid down to $126.4 million by mid-January 2026, with full repayment due by March 31, 2026.

On February 27, 2026, Jefferies declined to make a scheduled $42.1 million payment under its forbearance agreement with Western Alliance. On March 6, 2026, Western Alliance sued Jefferies and affiliated entities in New York State Supreme Court, New York County, for breach of contract and fraud, alleging Jefferies induced forbearance while not intending to repay the loan in full, and charged off the full $126.4 million balance. Jefferies has publicly stated the loan was non-recourse, on standard market terms, that Western Alliance conducted its own diligence and retained audit rights, and that Jefferies will defend the suit vigorously.

The same morning, before markets opened, the U.S. Bureau of Labor Statistics reported that the economy shed 92,000 jobs in February 2026 against expectations of roughly 60,000 in gains, with unemployment rising to 4.4% — a broad macroeconomic shock that also weighed on financial-sector stocks generally. Jefferies shares fell as much as 13% intraday, touching a fresh 52-week low of $39.27, before closing down in the range of roughly 9–10% for the session. Because the jobs report and the lawsuit landed on the same day, isolating how much of the decline is attributable to each requires further analysis.

Henzel Law is investigating potential claims on behalf of shareholders of Liberty Capital Corporation (NASDAQ: GLIBA, GLIBK), formerly known as GCI Liberty, Inc. The investigation concerns whether the Company's public statements about competition and its business prospects were accurate and complete, and whether its directors and officers met their duties to shareholders in deciding how to use Company capital. No lawsuit has been filed yet in this matter.

The Company changed its name from GCI Liberty, Inc. to Liberty Capital Corporation in May 2026, and its ticker symbols did not change. Its principal business is GCI, the largest communications provider in Alaska. In December 2025, shareholders contributed approximately $300 million through a rights offering. The Company has since committed funds to acquisitions and to an investment in the shares of another public company. For the first quarter of 2026 it reported a 4% decline in revenue and an 18% decline in Adjusted OIBDA.

On October 9, 2026, the Company's Series A shares fell $3.51, or 14.9%, to close at $20.08, and its Series C shares also declined sharply. The drop came as SpaceX announced new spectrum and satellite plans for its Starlink service, adding to concerns about satellite competition in Alaska. The Company's shares have lost more than a third of their value in 2026.

Shareholders of either share class of Liberty Capital Corporation (NASDAQ: GLIBA, GLIBK) who purchased between February 11, 2026 and October 8, 2026 and lost money, including those who took part in the December 2025 rights offering, may have been affected. That period is the firm's own estimate for purposes of this investigation. It has not been set or approved by any court. If you have questions about your Liberty Capital holdings, you are welcome to submit your information below for a free, no-obligation review.

Henzel Law is investigating potential claims on behalf of shareholders of Lyft, Inc. (“Lyft” or the “Company”) (NASDAQ: LYFT), relating to the Company’s public statements about its legal reserves and its exposure to passenger-safety litigation. No lawsuit has been filed, no deadline is currently running, and no court has ruled on the merits of any matter described here. The firm is particularly interested in long-term shareholders who acquired Lyft stock during 2025 and continue to hold their shares today.

Beginning with its fourth-quarter 2024 results announced on February 11, 2025, and continuing through 2025, Lyft reported a series of record quarterly results and repeatedly reaffirmed the long-term financial targets set at its first Investor Day — approximately $25 billion in gross bookings and approximately $1 billion in adjusted EBITDA by 2027. The investigation is examining whether, over that same period, the Company adequately disclosed the scope of its exposure to passenger-safety claims and whether the amounts it reserved for legal contingencies reflected that exposure.

On February 5, 2026, the Judicial Panel on Multidistrict Litigation consolidated passenger claims against Lyft into a multidistrict litigation proceeding in the U.S. District Court for the Northern District of California, captioned In re Lyft Passenger Sexual Assault Litigation, MDL No. 3171.

After the market closed on February 10, 2026, Lyft reported fourth-quarter and full-year 2025 results. Fourth-quarter revenue of approximately $1.59 billion came in below analyst expectations of approximately $1.76 billion; the Company disclosed that the shortfall included a charge of approximately $168 million attributable to changes in legal, tax and regulatory reserves and to settlements — recorded five days after the multidistrict litigation was established. Fourth-quarter ride growth slowed to approximately 11% year over year from approximately 15% in the preceding quarter, while the Company reaffirmed its 2027 targets. On February 11, 2026, Lyft’s share price fell approximately 17%, closing at $13.99, on volume roughly four times its recent average, while broad market indices were essentially unchanged.

On July 23, 2026, a research firm published a report asserting that Lyft’s potential exposure from passenger sexual-assault claims was substantially greater than the reserves carried on its balance sheet, and that the Company had not disclosed the multidistrict litigation consolidation in its then-recent SEC filings. Lyft’s share price declined approximately 7% following publication. Those assertions are the authors’, and Henzel Law is evaluating them independently.

A central focus of the investigation is whether Lyft’s board of directors met its oversight obligations — whether it established and monitored reporting systems adequate to a company whose central operational risk is passenger safety, and whether warning signs such as reported assault volumes, mounting individual lawsuits and the consolidation petition were addressed or disregarded. Claims of that type are brought on behalf of the Company itself and generally require a shareholder who owned stock at the time of the conduct at issue and has continued to own it since, which is why the firm is seeking long-term Lyft shareholders.

Henzel Law is investigating potential securities claims on behalf of shareholders of Suja Life, Inc. (“Suja” or the “Company”) (NASDAQ: SUJA), relating to whether the Company's registration statement and related offering documents for its May 2026 initial public offering adequately disclosed the risks to its business, and whether the Company's subsequent public statements about its sales and growth trajectory were materially misleading in light of facts that later emerged. No lawsuit has been filed yet in this matter.

Suja produces and sells cold-pressed juices and other functional beverages sold primarily through the grocery channel. The Company completed its initial public offering on the Nasdaq Global Select Market on May 7, 2026, pricing shares at $21.00 and raising approximately $173.6 million in net proceeds, which it used to repay approximately $141.3 million in debt and to fund roughly $17.5 million in payouts to employees and directors in connection with the offering.

On August 4, 2026, Suja reported its second-quarter 2026 financial results, disclosing net sales of $83.9 million, up 11.6% year-over-year, but cut its full-year 2026 net sales guidance to a range of $360 million to $369 million. On the earnings call, the Company's Chief Executive Officer attributed the lowered outlook to near-term softness concentrated in the grocery channel. Following the announcement, Suja shares fell from a prior close of approximately $11.41 to close at $6.14 on August 5, 2026, a decline of approximately 46.18%, on unusually heavy trading volume.

Henzel Law is investigating potential claims on behalf of shareholders of T-Mobile US, Inc. (NASDAQ: TMUS). The investigation concerns whether T-Mobile's directors and officers met their duties in connection with the sale of the Company's 800 MHz wireless spectrum, and whether the Company's public statements about competition from satellite-based services were accurate and complete. No lawsuit has been filed yet in this matter.

T-Mobile sold its nationwide 800 MHz spectrum portfolio to an investment firm in a transaction that closed in August 2026, receiving $2.9 billion in cash together with other spectrum licenses. About two months later, the investment firm agreed to resell the portfolio to SpaceX. Press reports have put the resale price at about $8 billion; neither party has confirmed a price.

After the market closed on October 8, 2026, SpaceX announced the agreement to acquire the spectrum and said the purchase would help its Starlink service become a major mobile carrier in the United States. On October 9, 2026, T-Mobile's stock fell $22.73 per share, or 13.3%, to close at $148.58.

Directors of a corporation have a duty to put reporting systems in place for the risks that are central to the business, to monitor those systems, and to act on warning signs rather than disregard them. Claims of this kind are typically brought as shareholder derivative actions on behalf of the company itself. A shareholder generally must have owned the stock when the conduct took place and must continue to hold it.

The firm is particularly interested in hearing from long-term T-Mobile US, Inc. (NASDAQ: TMUS) shareholders who owned shares before August 2026 and still own them, as well as shareholders who purchased between July 23, 2026 and October 8, 2026 and lost money. That period is the firm's own estimate for purposes of this investigation. It has not been set or approved by any court. If you have questions about your T-Mobile holdings, you are welcome to submit your information below for a free, no-obligation review.