Jul 29, 2021 | Securities Class Action Archive
Class Action Securities Investigation On Behalf Of CorMedix Inc. Investors Who Acquired The Securities Of CorMedix Inc. Between July 8, 2020 And May 13, 2021, Both Dates Inclusive (the “Class Period”) – Investors With Losses Greater Than $50,000 Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is making investors of CorMedix Inc. (“CorMedix” or the “Company”) (NASDAQ: CRMD) aware that a class action lawsuit was filed on behalf of a class consisting of all persons and entities, other than the CorMedix Defendants, who purchased, or otherwise acquired, the Company’s securities during the Class Period and suffered losses.
According to the class action complaint, throughout the Class Period, the CorMedix Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies.
Specifically, the CorMedix Defendants, allegedly, made false and/or misleading statements and/or failed to disclose that (i) deficiencies existed with respect to DefenCath’s manufacturing process and/or at the facility responsible for manufacturing DefenCath; (ii) in light of the foregoing deficiencies, the FDA was unlikely to approve the DefenCath New Drug Application (“NDA”) for catheter-related bloodstream infections (“CRBSIs”) in its present form; (iii) the CorMedix Defendants had downplayed the true scope of the deficiencies with DefenCath’s manufacturing process and/or at the facility responsible for manufacturing DefenCath; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, THE CORMEDIX SECURITIES BETWEEN JULY 8, 2020 AND MAY 13, 2021, BOTH DATES INCLUSIVE, AND SUFFERED LOSSES GREATER THAN $50,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT MICHAEL YARNOFF, ESQ., [email protected], (215) 792-6676, Ext. 804, [email protected], TO DISCUSS THE SECURITIES CLASS ACTION INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Jul 29, 2021 | Securities Class Action Archive
DiDi Global Inc. Investors With Losses Greater Than $100,000 Encouraged To Contact Kehoe Law Firm, P.C. – Class Action Filed On Behalf of DiDi Global Investors
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of DiDi Global Inc. (“DiDi” or the “Company”) (NYSE: DIDI) to determine whether DiDi engaged in securities fraud or other unlawful business practices.
A class action lawsuit has been filed in United States District Court, Central District of California, on behalf of DiDi investors who purchased, or otherwise acquired, the securities of DiDi pursuant and/or traceable to the registration statement and related prospectus (collectively, the “Registration Statement”) issued in connection with DiDi’s June 30, 2021 initial public offering (“IPO” or “Offering”); and/or (2) between June 30, 2021 and July 21, 2021, inclusive (the “Class Period”).
According to the class action complaint, the DiDi Defendants made materially false and/or misleading statements, because they misrepresented and failed to disclose adverse facts pertaining to the Company’s business, operations and prospects, which were known to Defendants, or recklessly disregarded by them.
Specifically, according to the complaint, the Registration Statement was false and/or misleading and/or failed to disclose that (1) the Cyberspace Administration of China (“CAC”) urged Defendant DiDi to delay its IPO; (2) Defendant DiDi “had the problem of collecting personal information in violation of relevant PRC laws and regulations”; (3) Defendant DiDi could not guarantee data security; (4) due to the foregoing, Defendant DiDi would face “serious, perhaps unprecedented, penalties” from relevant authorities; (5) DiDi and its many apps would face an imminent cybersecurity review by the CAC, which could lead to removal of DiDi’s apps from app stores; and (6) as a result, the DiDi Defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, DIDI SECURITIES IN CONNECTION WITH THE COMPANY’S IPO AND/OR DURING THE CLASS PERIOD AND SUFFERED LOSSES GREATER THAN $100,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT MICHAEL YARNOFF, ESQ., [email protected], [email protected], TO DISCUSS THE SECURITIES CLASS ACTION INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Jul 26, 2021 | Securities Class Action Archive
Class Action Securities Investigation On Behalf Of Piedmont Lithium Inc. Investors Who Acquired The Securities Of Piedmont Lithium Between March 16, 2018 and July 19, 2021, Both Dates Inclusive (the “Class Period”) – Piedmont Lithium Investors With Losses Greater Than $50,000 Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is making investors of Piedmont Lithium Inc. (“Piedmont Lithium” or the “Company”) (NASDAQ: PLL) aware that a class action lawsuit was filed on behalf of a class consisting of all persons and entities, other than the Piedmont Lithium Defendants, who purchased, or otherwise acquired, the securities of Piedmont Lithium during the Class Period.
The class action lawsuit seeks to recover compensable damages caused by the Piedmont Lithium Defendants’ alleged violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder.
According to the class action complaint filed in United States District Court, Eastern District of New York, the Piedmont Lithium Defendants made materially false and/or misleading statements, because they misrepresented and failed to disclose the following adverse facts pertaining to the Company’s business, operational and financial results, which were known to the Piedmont Lithium Defendants or recklessly disregarded by them.
Specifically, according to the class action lawsuit, the Piedmont Lithium Defendants made false and/or misleading statements and/or failed to disclose that (1) Piedmont Lithium has not, and would not, follow its stated steps or timeline to secure all proper and necessary permits; (2) Piedmont Lithium failed to inform relevant people and governmental authorities of its actual plans; (3) Piedmont Lithium failed to file proper applications with relevant governmental authorities (including state and local authorities); (4) Piedmont Lithium and its lithium business does not have “strong local government support”; and (5) as a result, the Piedmont Lithium Defendants’ public statements were materially false and/or misleading at all relevant times.
INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, THE COMPANY’S SECURITIES BETWEEN MARCH 16, 2018 AND JULY 19, 2021, BOTH DATES INCLUSIVE, AND SUFFERED LOSSES GREATER THAN $50,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT MICHAEL YARNOFF, ESQ., [email protected], (215) 792-6676, Ext. 804, [email protected], TO DISCUSS THE SECURITIES CLASS ACTION INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Jul 23, 2021 | Securities Class Action Archive
Breach Of Fiduciary Duties Investigations – MUDS, GPAQ
Kehoe Law Firm, P.C. is investigating whether certain directors and/or officers of the following Special Purpose Acquisition Companies (“SPAC”) breached their fiduciary duties to the SPAC or its shareholders:
Mudrick Capital Acquisition Corporation (NASDAQ: MUDS), Now Known As Hycroft Mining Holding Corporation (NASDAQ: HYMC)
The investigation concerns whether Mudrick Capital Acquisition Corporation’s (“Mudrick Capital”) board of directors or senior management failed to manage Mudrick Capital in an acceptable manner, in breach of their fiduciary duties to Mudrick Capital shareholders, and whether Mudrick Capital’s shareholders suffered damages as a result.
On January 13, 2020, Mudrick Capital executed a merger agreement with the predecessor to Hycroft Mining Holding Corporation (“Hycroft”), with an April 17, 2020 record date for the shareholder vote. On May 29, 2020, the merger transaction closed, with Hycroft continuing as the successor entity.
On October 1, 2020, Hycroft announced a secondary offering, ultimately consisting of 9.5 million shares of common stock and the same number of immediately exercisable warrants, bringing net proceeds of $83.1 million. On this news, shares dropped 16% to $7.58/share.
On March 24, 2021, Hycroft announced financial results for 2020 and the financial outlook for 2021. On this news, shares dropped over 28% to $4.96.
Gordon Pointe Acquisition Corp (NASDAQ: GPAQ), Now Known As Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV)
The investigation concerns whether Gordon Pointe Acquisition Corp’s (“Gordon Pointe”) board of directors or senior management failed to manage Gordon Pointe in an acceptable manner, in breach of their fiduciary duties to Gordon Pointe shareholders, and whether Gordon Pointe’s shareholders suffered damages as a result.
On September 16, 2019, Gordon Pointe executed a merger agreement with the predecessor to Hall of Fame Resort & Entertainment Company (“Hall of Fame”), with a June 1, 2020 record date for the shareholder vote. On July 1, 2020, the merger transaction closed, with Hall of Fame continuing as the successor entity.
In its first two days of trading post-merger, the stock dropped from $12 to $7.84/share, a drop of more than 34%.
IF YOU WERE EITHER A SHAREHOLDER OF MUDRICK CAPITAL ACQUISITION CORPORATION OR GORDON POINTE ACQUISITION CORP AND WISH TO DISCUSS KEHOE LAW FIRM’S INVESTIGATIONS OR HAVE QUESTIONS ABOUT YOUR POTENTIAL LEGAL RIGHTS, PLEASE CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATIONS OR POTENTIAL LEGAL CLAIMS.
Jul 21, 2021 | Securities Class Action Archive
Piedmont Lithium Inc. Investors With Losses Greater Than $50,000 Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating potential class action securities claims on behalf of shareholders of Piedmont Lithium Inc. (“Piedmont Lithium” or the “Company”) (NASDAQ: PLL) to determine whether Piedmont may have issued materially misleading business information to the investing public.
On July 20, 2021, Reuters published an article, “In push to supply Tesla, Piedmont Lithium irks North Carolina neighbors” which reported that Piedmont “. . . has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so.” The article also reported that “[f]ive of the seven members of the county’s board of commissioners, who control zoning changes, say they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected[,]” as well as quoted Tom Keigher, the chair of the board of commissioners, stating that “Piedmont has sort of put the proverbial cart before the horse[.]”
Reuters also reported that “[s]tate officials added their review process could stretch for more than a year as they solicit comments from at least six other state and federal agencies[,]” and quoted Brian Sciba, the director of Gaston County’s planning and zoning office, stating that “I’m not even going to accept an application from Piedmont for rezoning until they have their state permit in hand[.]”
On this news, Piedmont’s stock price fell significantly during intraday trading on July 20, 2021, thereby damaging investors.
PIEDMONT LITHIUM INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, PIEDMONT LITHIUM SECURITIES AND SUFFERED LOSSES GREATER THAN $50,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT MICHAEL YARNOFF, ESQ., [email protected], (215) 792-6676, Ext. 804, [email protected], TO DISCUSS THE SECURITIES CLASS ACTION INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
