June 8 Deadline Set for Lead Plaintiff Motions in Shareholder Lawsuits Against Medpace, Stellantis, and Upstart

ATLANTA — The law firm Holzer & Holzer, LLC has announced a deadline of June 8, 2026, for investors to file motions to be appointed as lead plaintiff in separate securities class action lawsuits filed against Medpace Holdings, Inc. (NASDAQ: MEDP), Stellantis N.V. (NYSE: STLA), and Upstart Holdings, Inc. (NASDAQ: UPST). The lawsuits, filed in federal court, allege that the companies and certain of their executives violated federal securities laws by making false or misleading statements to the investing public.

This deadline is a critical procedural step established under the Private Securities Litigation Reform Act of 1995 (PSLRA). The PSLRA allows any investor who purchased or acquired a company's stock during the specified class period and suffered a financial loss to petition the court for the role of lead plaintiff. This position is not granted to the first person who files, but typically to the movant who has the greatest financial interest in the outcome of the litigation and is deemed by the court to be a suitable representative for the entire class of affected shareholders.

The lead plaintiff acts on behalf of all other class members in directing the litigation. This includes selecting a law firm to prosecute the case, making key decisions about legal strategy, and negotiating any potential settlement. However, an investor's ability to share in any potential future recovery is not contingent upon serving as the lead plaintiff. Any member of the purported class may choose to do nothing and remain an inactive class member, still eligible for a share of any settlement or judgment.

Among the three companies, the allegations against Medpace Holdings, a clinical contract research organization (CRO), are detailed extensively in court filings. The lawsuit, captioned Durbin v. Medpace Holdings Inc. and filed in the U.S. District Court for the Southern District of Ohio, covers investors who purchased Medpace common stock between April 22, 2025, and February 9, 2026. The complaint names Medpace, its Chairman and CEO August James Troendle, President Jesse J. Geiger, and CFO Kevin M. Brady as defendants.

The core of the complaint alleges that throughout the class period, the defendants made materially false and misleading statements regarding the company’s business operations and financial prospects. Specifically, the lawsuit claims the company concealed weakening demand and rising backlog cancellation rates. It alleges that executives repeatedly assured investors that a book-to-bill ratio of 1.15 for the second half of fiscal year 2025 was a reasonable and achievable target, suggesting strong business growth.

According to the complaint, the truth was revealed on February 9, 2026, when Medpace released its fourth-quarter 2025 earnings. The results included a book-to-bill ratio of just 1.04, falling well short of the company's prior guidance. The lawsuit alleges that this news constituted a corrective disclosure, causing a significant drop in the company's stock price. On the following trading day, February 10, 2026, Medpace common stock fell by $84.30 per share, a decline of nearly 16%, to close at $446.05, resulting in substantial losses for investors.

The same June 8, 2026, lead plaintiff deadline also applies to the class action lawsuits against Stellantis, a global automaker, and Upstart, a financial technology company. While the specific allegations vary, both lawsuits similarly claim that the companies made materially false or misleading statements to investors during their respective class periods, leading to financial damages when the stock prices fell upon the release of subsequent information.

Securities class actions represent a significant legal and financial risk for publicly traded companies. They can lead to costly litigation, multi-million dollar settlements, and lasting damage to a company's reputation and investor confidence. For investors, these lawsuits serve as a primary legal recourse for recovering losses allegedly caused by corporate fraud or a failure to provide accurate and timely information to the market.

For leadership at small and mid-sized companies, these high-profile lawsuits serve as a critical reminder of the complexities of public market communications. The pressure to meet quarterly expectations can lead executives to make overly optimistic forward-looking statements. In our experience, the line between confident guidance and a material misrepresentation that can trigger a lawsuit is finer than many management teams realize. It is crucial to establish a culture of transparency and accuracy in all external communications.

We advise clients to establish rigorous internal review processes for all public disclosures, including earnings call scripts, press releases, and investor presentations. Every projection and key performance indicator must be backed by sober, defensible assumptions that can withstand scrutiny. This isn't just about legal compliance; it's about building and maintaining long-term investor trust, which is an invaluable corporate asset. Navigating these disclosure risks is a core component of effective financial risk management. Companies looking to strengthen their internal controls and investor communication protocols can learn more by contacting C&S Finance Group LLC at csfinancegroup.com.

Following the June 8 deadline, the court in each case will review the submitted motions and appoint a lead plaintiff to represent the class. The litigation will then proceed, likely facing motions to dismiss from the defendants before moving into the discovery phase. The progress of these cases will be monitored closely by corporate governance professionals and the investment community for their potential impact on the defendant companies and the broader standards for corporate disclosures.