NEW YORK CITY, NY / ACCESS Newswire / August 22, 2025 / Sun Communities, Inc. (NYSE:SUI)
Lifshitz Law PLLC announces investigation into possible securities laws violations and/or breaches of fiduciary duties in connection with allegations that the Company made materially false and/or misleading statements and/or failed to disclose material information. Specifically, the Company provided investors with material information concerning SUI’s accounting practices and internal control over financial reporting. Allegedly, the Company provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning where money was coming from, namely, undisclosed loans and a $4 million mortgage.
On September 24, 2024, after market close, Blue Orca Capital published a report that the Company’s CEO received an undisclosed $4 million mortgage from the family of a Company Board member. In addition, the report found that the CEO borrowed money from another Board member. Blue Orca’s investigation concluded that the CEO and his undisclosed loans from purported independent Board members greatly "compromises the independence of the Board as a whole, the Compensation Committee and, critically, the Audit Committee." It also raises "questions as to the integrity of the Company’s governance, controls and financial disclosures." Following the report’s revelations, the Company’s stock price declined dramatically.
If you are a SUI investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at info@lifshitzlaw.com.
BigBear.ai Holdings, Inc. (NYSE:BBAI)
Lifshitz Law PLLC announces investigation into possible securities laws violations and/or breaches of fiduciary duties in connection with allegations that the Company made materially false and/or misleading statements and/or failed to disclose to investors material information. In June 2021, BigBear.ai Holdings entered into a merger agreement with GigCapital4, Inc., a special purpose acquisition company, GigCapital4 Merger Sub Corporation, and BBAI Ultimate Holdings. Pursuant to the Merger Agreement, Merger Sub Corporation first merged with and into BigBear.ai Holdings, with BigBear.ai Holdings being the surviving entity in the merger. Then BigBear.ai Holdings merged with and into GigCapital4, with GigCapital4 being the surviving entity in the merger. On December 7, 2021, the Mergers were consummated and GigCapital4, Inc. was renamed as BigBear.ai Holdings, Inc.
Upon completion of the Business Combination, BigBear issued $200 million of unsecured convertible notes-debt instruments that can be converted into equity at a future date-due to mature on December 15, 2026 (the "2026 Notes"). Convertible notes are often classified as long-term debt and as such, consistent with generally accepted accounting principles ("GAAP"), they must be accounted for in a company’s quarterly and annual reports as liabilities until they reach maturity, at which point they either convert to equity or are repaid as principal and interest.
Allegedly, the Company made false and/or misleading statements and/or failed to disclose that: (1) BigBear maintained deficient accounting review policies related to the reporting and disclosure of certain non-routine, unusual, or complex transactions; (2) as a result, the Company incorrectly determined that the conversion option within the 2026 Convertible Notes qualified for the derivative scope exception under ASC 815-40 and failed to bifurcate the conversion option as required by ASC 815-15; (3) accordingly, BigBear had improperly accounted for the 2026 Convertible Notes; (4) the foregoing error caused BigBear to misstate various items in several of the Company’s previously issued financial statements; (5) as a result, these financial statements were inaccurate and would likely need to be restated; (6) BigBear would require extra time and expense to correct the inaccurate financial statements, thereby increasing the risk that the Company would be unable to timely file certain financial reports with the U.S. Securities and Exchange Commission; and (7) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you are a BBAI investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at info@lifshitzlaw.com.
Napco Security Technologies, Inc. (NASDAQ:NSSC)
Lifshitz Law PLLC announces investigation into possible securities laws violations and/or breaches of fiduciary duties in connection with allegations that the Company made materially false and/or misleading statements and/or failed to disclose to investors material information. The Company provided investors with material information concerning Napco’s overall expected growth and strength in the Company’s hardware division. The Company’s statements included, among other things, confidence in Napco’s ability to achieve its fiscal 2026 growth projections on the back of its ability to both appropriately forecast and execute upon the alleged demand for its hardware products.
The Company allegedly provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Napco’s ability to forecast the demand for its products or otherwise the true state of Napco’s negotiating position with distributors; notably, that, despite making lofty long-term projections and claiming one-off setbacks to hardware sales, Napco’s forecasting processes fell short as sales continued to decline and, ultimately, derailed the Company’s long-term projections, and that such statements absent these material facts caused investors to purchase Napco’s securities at artificially inflated prices.
If you are an NSSC investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at info@lifshitzlaw.com.
Extreme Networks, Inc. (NASDAQ:EXTR)
Lifshitz Law PLLC announces investigation into possible securities laws violations and/or breaches of fiduciary duties in connection with allegations that the Company made false and/or misleading statements and/or failed to disclose material information. Specifically, the Company allegedly made false and/or misleading statements and allegedly failed to disclose the following adverse facts pertaining to Extreme’s business, operations, and financial condition: (1) that Extreme was suffering from adverse client demand trends as its clients had ordered more product from Extreme than needed in the wake of the COVID-19 pandemic to avoid supply shortages and because of a lack of alternative sourcing options and thereby had cannibalized their purchasing needs; (2) that Extreme was increasingly offsetting these adverse organic demand trends with the fulfillment of backlog orders in a manner that materially exceeded the proportion represented to investors; (3) that, as a result of (1)-(2), Extreme was drawing down its backlog at a much faster rate than represented to investors; (4) that, as a result of (1)-(3), Extreme’s backlog was already decreasing and at a much quicker pace than the Company’s statements to investors that backlog would only "begin to shrink" in 4Q23 and it would be not until "fiscal ‘26 when it really goes back to normal"; (5) that, as a result of (1)-(4), Extreme’s backlog was not on track to continue increasing to $600 million; and (6) that, as a result of (1)-(6) above, the Company had materially misrepresented Extreme’s organic demand, revenue growth, and market share gains as the fulfillment of Extreme’s backlog masked a decline in organic demand and attendant revenues.
If you are an EXTR investor, and would like additional information about our investigation, please complete the Information Request Form or contact Joshua Lifshitz, Esq. by telephone at (516)493-9780 or e-mail at info@lifshitzlaw.com.
ATTORNEY ADVERTISING.© 2025 Lifshitz Law PLLC. The law firm responsible for this advertisement is Lifshitz Law PLLC, 1190 Broadway, Hewlett, New York 11557, Tel: (516)493-9780. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact:
Joshua M. Lifshitz, Esq.
Lifshitz Law PLLC
Phone: 516-493-9780
Facsimile: 516-280-7376
Email: jlifshitz@lifshitzlaw.com
SOURCE: Lifshitz Law Firm
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COMTEX_468236565/2457/2025-08-22T15:00:55