“In total, the Company spent an aggregate amount of approximately $125 million to repurchase approximately 1.4 million shares of its own common stock at artificially inflated prices from April 2022 to July 2022,” according to the plaintiffs, who are being represented by Sarah Maneval and Saadia Hashmi of The Brown Law Firm in New York City. Affiliated local counsel is Higgins, Cavanagh, and Cooney.

“In total, this caused the Company to overpay for repurchases of its own stock by approximately $55.9 million," the lawsuit maintains.