Oct 10, 2022 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Trident Acquisitions Corp. (“Trident”) (NASDAQ: TDAC), now known as Lottery.com Inc. (“Lottery.com”) (NASDAQ: LTRY), breached their fiduciary duties to Trident’s shareholders.
LOTTERY.COM SHAREHOLDERS THAT OWNED TRIDENT ACQUISITIONS STOCK AND WHO WISH TO DISCUSS POTENTIAL LEGAL CLAIMS ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C.
The investigation concerns whether Trident’s board of directors or executive officers breached their duties of disclosure, duties of candor, and requirements to act in good faith, and whether Trident’s shareholders suffered damages as a result.
On October 28, 2021, Trident shareholders of record as of October 13, 2021 approved a merger between Trident and Lottery.com.
In July 2022, Lottery.com fired its Chief Financial Officer after accounting irregularities were uncovered. Not long after, Lottery.com’s Chief Revenue Officer resigned, after Lottery.com discovered “instances of non-compliance with state and federal laws concerning the state in which tickets are procured.” Lottery.com also announced it had overstated its cash holdings by $30 million. In September 2022, four directors resigned from Lottery.com’s board, with several directors claiming that Lottery.com thwarted their attempts to look into red flags at the company.
The stock price has declined by more than 99.7% since the merger.
LOTTERY.COM SHAREHOLDERS WHO OWNED TRIDENT ACQUISITIONS CORP. STOCK ARE ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Oct 7, 2022 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Biogen Inc. (“Biogen”) (NASDAQ: BIIB) breached their fiduciary duties to Biogen and its shareholders.
BIOGEN INVESTORS WHO HAVE HELD BIIB STOCK SINCE AT LEAST JANUARY 2022 ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR BIOGEN SECURITIES.
The investigation concerns whether members of the Biogen Board of Directors (the “Biogen Board”) made, or caused Biogen to make, false and/or misleading statements, as well as failed to disclose material adverse facts, about Biogen’s business, operations, prospects, and financial health.
Kehoe Law Firm, P.C. is investigating whether the Biogen Board failed to disclose material information, including whether Biogen misled investors regarding: (a) the number of sites ready, willing, and able to administer Aduhelm immediately after approval; (b) the significance of logistical constraints on diagnosing patients; (c) the degree to which Medicare’s coverage of the treatment was independent of the FDA’s approval of the treatment; (d) the willingness of third-party payors to cover Aduhelm at a premium price point, or, indeed, at any price point absent peer-reviewed data supporting a determination of the treatment’s clinical effectiveness; and (e) the Veterans Health Administration’s willingness and capacity to cover and administer Aduhelm for its beneficiaries; and whether, as a result, statements about Biogen’s business, operations, and prospects lacked a reasonable basis.
On January 11, 2022, the Center for Medicare and Medicaid Services released a draft opinion, stating it would only pay for Aduhelm for patients in a hospital-sponsored clinical trial.
On this news, Biogen’s common stock price fell to close at $225 per share on January 12, 2022.
INVESTORS WHO HAVE HELD BIOGEN STOCK SINCE AT LEAST JANUARY 2022 ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE INVESTIGATION AND POTENTIAL LEGAL CLAIMS.
Oct 5, 2022 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of TS Innovation Acquisitions Corp. (“TSIA”) (NASDAQ: TSIA), now known as Latch, Inc. (“Latch”) (NASDAQ: LTCH), breached their fiduciary duties to TSIA’s shareholders.
INVESTORS OF TS INNOVATION ACQUISITIONS CORP. STOCK WHO NOW HOLD LATCH STOCK SHARES ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR TSIA/LATCH HOLDINGS.
The investigation concerns whether TSIA’s board of directors or executive officers breached their duties of disclosure, duties of candor, and requirements to act in good faith, and whether TSIA’s shareholders suffered damages as a result.
On June 3, 2021, TSIA shareholders of record as of May 11, 2021 approved a merger between TSIA and Latch’s predecessor company.
On August 25, 2022, after the market closed, Latch revealed that it would restate financial statements for 2021 and the first quarter of 2022 due to revenue recognition errors related to the sale of hardware devices. Specifically, the Company stated that “certain revenue recognition errors occurred as a result of unreported sales arrangements due to sales activity that was inconsistent with the Company’s internal controls and procedures.”
The stock price has declined by over 87% since the merger.
INVESTORS OF TSIA SECURITIES WHO NOW HOLD LATCH STOCK ARE ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE INVESTIGATION AND POTENTIAL LEGAL CLAIMS.
Oct 4, 2022 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Starbucks Corporation (“Starbucks”) (NASDAQ: SBUX) breached their fiduciary duties to Starbucks and its shareholders.
STARBUCKS SHAREHOLDERS WHO WISH TO DISCUSS POTENTIAL LEGAL CLAIMS ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS ABOUT THEIR STARBUCKS STOCK HOLDINGS.
The investigation concerns whether members of Starbucks’s board of directors or senior management failed to manage Starbucks in an acceptable manner, in breach of their fiduciary duties, and whether Starbucks and its shareholders have suffered damages as a result.
Starbucks is currently responding to or defending numerous administrative complaints and governmental investigations regarding potentially illegal or otherwise impermissible conduct regarding labor relations at the company.
SHAREHOLDERS OF STARBUCKS MAY HAVE LEGAL CLAIMS AGAINST STARBUCKS’ DIRECTORS AND OFFICERS. IF YOU WISH TO DISCUSS THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS, PLEASE CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected].
Sep 14, 2022 | Blog, Shareholder Investigations
In a Form 8-K dated September 13, 2022, Vintage Wine reported that “[o]n September 12, 2022, the Audit Committee of the Board of Directors . . . of Vintage Wine Estates, Inc. . . . after discussion with management, determined that the Company’s previously issued financial statements as of and for the three and nine months ended March 31, 2022 . . . should no longer be relied upon and should be restated due to the identification of an accounting error.”
The Company also reported that “[t]he correction of the accounting error led to a net reduction in previously recognized interest rate swap liabilities of $4.2 million for the three and nine months ended March 31, 2022, an increase in interest rate swap assets of $5.1 million for the three and nine months ended March 31, 2022, an increase in accrued liabilities and other payables of $2.7 million for the three and nine months ended March 31, 2022 and an increase in net unrealized gain on interest rate swap agreements of $6.7 million for the three and nine months ended March 31, 2022, net of income taxes.”
Shares of Vintage Wine stock were down almost 40% during intraday trading on September 14, 2022.
VINTAGE WINE SHAREHOLDERS WITH LOSSES GREATER THAN $25,000 ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS ABOUT THEIR VWE SECURITIES.
INVESTORS OF VINTAGE WINE STOCK WITH SIGNIFICANT FINANCIAL LOSSES ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE SECURITIES INVESTIGATION AND FOR A NO-OBLIGATION EVALUATION OF POTENTIAL LEGAL CLAIMS.
Sep 13, 2022 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Paramount Global (“Paramount”) (NASDAQ: PARA) breached their fiduciary duties to Paramount and its shareholders.
The investigation concerns whether members of Paramount’s board of directors or senior management failed to manage Paramount in an acceptable manner, in breach of their fiduciary duties, and whether Paramount and its shareholders have suffered damages as a result.
On August 30, 2022, Insider reported that a former executive at Paramount-owned Nickelodeon had allegedly engaged in years of assaulting show writers, sexualizing underage girl cast members, and for providing alcohol to underage cast members, among other allegations.
PARAMOUNT SHAREHOLDERS ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS ABOUT THEIR PARAMOUNT STOCK HOLDINGS.
