Bragar Eagel & Squire, PC remind investors of this class
NEW YORK, 02 Feb. 12, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that class action lawsuits have been filed on behalf of Instadose Pharma shareholders. Corp. (OTCMKTS: INSD), Berkeley Lights, Inc. (NASDAQ: BLI), Robinhood Markets, Inc. (NASDAQ: HOOD) and Redwire Corporation (NYSE: RDW). Shareholders have until the deadlines below to ask the court to serve as lead plaintiff. Additional information on each case can be found at the link provided.
Instadose Pharma Corp. (OTCMKTS:INSD)
Course period: December 8, 2020 – November 24, 2021
Lead Applicant Deadline: February 28, 2022
On November 23, 2021, the United States Securities and Exchange Commission (“SEC”) announced a temporary suspension of trading in Instadose securities due to concerns regarding the adequacy and accuracy of company information on the market. The SEC specifically noted increases in Instadose’s stock price and stock volume not supported by the company’s assets and financial information, the transactions may be associated with persons related to a control person of the company and operations of the company’s Canadian subsidiary. On this news, the Company’s stock price declined $3.69 per share, or approximately 13%, from $28.30 per share to close at $24.61 per share on November 23, 2021, either just before the break in negotiations.
On December 9, 2021, when the Company’s securities resumed trading, the stock price opened and closed at $2.00 per share.
For more information on the Instadose class action, please visit: https://bespc.com/cases/INSD
Berkeley Lights, Inc. (NASDAQ: BLI)
Course period: July 17, 2020 – September 14, 2021
Lead Applicant Deadline: February 7, 2022
The Complaint alleges that throughout the Class Period, the Defendants made false and misleading statements and failed to disclose that: (1) Berkeley Lights’ flagship instrument, the Beacon, suffered from numerous defects in design and manufacturing, including failures, high error rates, data integrity issues and other issues, limiting the ability of biotechnology companies and research institutes to consistently use the machines at scale; (2) Berkeley Lights had received numerous customer complaints regarding the durability and efficiency of Berkeley Lights’ automation systems, including design and manufacturing complaints; (3) the actual market for Berkeley Lights products and services was only a fraction of the $23 billion represented to investors due to, among other things, the relatively high cost of Berkeley Lights instruments and consumables and its inability to provide the sustained performance necessary to justify these high costs; and (4) as a result, the defendants’ statements to investors during the Class Period regarding the business, operations and financial results of Berkeley Lights were materially false and misleading.
On September 15, 2021, research analyst firm Scorpion Capital released a scathing investigative report, titled “Fleecing Customers And IPO Bagholders With A $2 Million Black Box That’s A Clunker, While Insiders and Silicon Valley Bigwigs Race To Dump Stock “. Just another VC pump at 27x sales. Target Price: $0,” which criticized Berkeley Lights’ technology and questioned the sustainability of Berkeley Lights’ most important business relationships and its plan for business growth. Although Scorpion Capital said it was Berkeley Lights court, the information in Scorpion Capital’s report was allegedly based on extensive proprietary research and analysis, including 24 research interviews with former employees of Berkeley Lights, industry scientists and end users in 14 of Berkeley Lights. biggest customers. Among other findings, the report details a “trail of customers who claim to have been ‘cheated,’ misled, or over-promised to buy a $2 million lemon” and concludes that “the reality is so far removed from the hype grandiose of BLI that we believe its product claims and practices may constitute outright fraud.
At this news, the price of Berkeley Lights common stock fell nearly 30% in two trading days, hurting investors.
For more information on the Berkeley Lights class action, please visit: https://bespc.com/cases/BLI
Robinhood Markets, Inc. (NASDAQ: HOOD)
Class Period: July 30, 2021 IPO
Lead Applicant Deadline: February 15, 2022
According to the complaint, Robinhood’s registration statement and prospectus used to effect its IPO contained materially inaccurate, misleading and/or incomplete statements because they did not state that at the time of the IPO, Robinhood’s revenue growth was experiencing a major reversal. , with transaction-based revenue from cryptocurrency trading serving only as a transitory short-term injection, masking what was effectively stagnant growth. Further, the company’s “significant investments” in improving the reliability and scalability of its platform were grossly inadequate and/or flawed, exposing Robinhood to worsening service level outages and breaches. security, especially as the company expanded its services to a wider user base. .
For more information on the Robinhood class action, please visit: https://bespc.com/cases/HOOD
Redwire Corporation (NYSE:RDW)
Course period: August 11, 2021 – November 14, 2021
Lead Applicant Deadline: February 15, 2022
The Complaint filed in this Class Action alleges that throughout the Class Period, the Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts regarding the business, operations and societal prospects. Specifically, defendants failed to disclose to investors that: (1) there were accounting issues at one of Redwire’s subunits; (2) that, as a result, there were additional material weaknesses in Redwire’s internal control over financial reporting; and (3) that as a result of the foregoing, defendants’ positive statements about the company’s business, operations and prospects were materially misleading and/or lacked reasonable basis.
For more information on the Redwire class action, please visit: https://bespc.com/cases/RDW
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC 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, derivatives and other complex litigation before state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertisement. Prior results do not guarantee similar results.
Bragar Eagel & Squire, CP
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.