Feb 22, 2022 | Shareholder Investigations
Have You Held Exela Stock Since September 2017? Exela Technologies Investors May Have Legal Claims Against The Company’s Officers and Directors.
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Exela Technologies, Inc. (“Exela”) (NASDAQCM: XELA) breached their fiduciary duties to Exela and its shareholders.
In a March 17, 2020 “Notification of Late Filing,” Exela disclosed that it was unable to file its Form 10-K for the year-ended December 31, 2019 on time and would need to restate certain of its financial statements.
In a Form 8-K, dated March 17, 2020, Exela disclosed that Exela would need to restate its financial statements for 2017, 2018, and interim periods through September 30, 2019, as a result of a material weakness in its internal control over financial reporting.
Subsequently, in a May 21, 2020 SEC filing, Exela announced the resignation of its CFO.
Investors Who Have Held Exela Stock Shares Since September 2017 May Have Legal Claims
If you have held Exela stock since September 2017, please contact Kehoe Law Firm, P.C., John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], [email protected], for a free, confidential consultation and no-obligation evaluation of potential legal claims.
Feb 20, 2022 | Shareholder Investigations
Have you held Roblox Stock Since March 2021? Roblox Corporation Investors May Have Legal Claims Against The Company’s Officers and Directors.
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Roblox Corporation (“Roblox”) (NYSE: RBLX) breached their fiduciary duties to Roblox and its shareholders.
The investigation concerns whether members of Roblox’s board of directors or senior management failed to manage Roblox in an acceptable manner, in breach of their fiduciary duties to Roblox, and whether Roblox and its shareholders suffered damages as a result.
On February 3, 2022, The Bear Cave published a report alleging that Roblox’s online platform intended for children aged six to fourteen is “also the leading platform for pedophiles.” The report detailed various arrests and indictments of sexual offenses against underage victims as young as five years old, while “[t]he company has engaged in litigation and intimidation to help conceal allegations of pedophilia on the platform.”
Further, Roblox’s head of safety and moderation has been accused of “peculiar” social media activity, including numerous “likes” of sexualized cosplayers and the following of a “furry porn” account, and Roblox’s former social media manager allegedly ran a pornographic blog while employed by Roblox.
Roblox Investors Who Have Held RBLX Stock Shares Since March 2021
If you are a Roblox shareholder who has held Roblox stock since March 2021, please contact Kehoe Law Firm, P.C., Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], for a free, confidential consultation and no-obligation evaluation of potential legal claims.
Feb 16, 2022 | Shareholder Investigations
LM Ericsson Telephone Co (Telefonaktiebolaget LM Ericsson) – Investors of Ericsson (NASDAQ: ERIC) Who Have Suffered Financial Losses Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating whether Telefonaktiebolaget LM Ericsson (“Ericsson”) (NASDAQ: ERIC) violated federal securities laws.
On February 16, 2022, The Telegraph reported that “Ericsson has admitted that it may have bribed the terrorist group Islamic State in return for being allowed to use roads through Iraq.”
On this news, shares of Ericsson were down more than 14% in pre-market trading on February 16, 2022.
Ericsson Provides Update on Deferred Prosecution Agreement
On March 2, 2022, Ericsson reported that “[o]n December 6, 2019, Ericsson entered into a Deferred Prosecution Agreement (DPA) with the United States Department of Justice (DOJ). On March 1, 2022, the DOJ informed Ericsson that the disclosure made by the company prior to the DPA about its internal investigation into conduct in Iraq in the period 2011 until 2019 was insufficient. Furthermore, it determined that the company breached the DPA by failing to make subsequent disclosure related to the investigation post-DPA. The company is in communication with the DOJ regarding the facts and circumstances of the breach determination and is committed to co-operating with the DOJ to resolve the matter.” (Emphasis added.)
ERICSSON INVESTORS WHO HAVE SUFFERED FINANCIAL LOSSES ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S “SECURITIES CLASS ACTION QUESTIONNAIRE.“
Feb 14, 2022 | Shareholder Investigations
Clariant AG Investor Alert – Investors Of Clariant AG’s Securities Who Have Suffered Financial Losses Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Clariant AG (“Clariant” or the “Company”) (OTC: CLZNY).
On February 14, 2022, Reuters reported that “Clariant has delayed the release of its 2021 results as investigators probe whistleblowers’ allegations that some staff manipulated accounts in 2020 and 2021 to help meet financial targets, the Swiss specialty chemicals group said on Monday.”
On this news, shares of Clariant dropped significantly during intraday trading on February 14, 2022.
Clariant Investors Who Have Suffered Financial Losses
Investors of Clariant securities who have suffered financial losses are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire or contact Kehoe Law Firm, P.C., [email protected], to discuss potential legal claims.
Feb 13, 2022 | Shareholder Investigations
Cortexyme, Inc. Investor Alert – Cortexyme Shareholders Who Have Suffered Losses On Their CRTX Investment Encouraged To Contact Kehoe Law Firm, P.C.
On January 26, 2022, Cortexyme, Inc. (“Cortexyme” or the “Company”) (NASDAQ: CRTX) announced that it received a letter from the U.S. Food and Drug Administration (“FDA”) on January 25, 2022, placing a full clinical hold on atuzaginstat’s (COR388) Investigational New Drug application (IND 134303). The Company also announced the immediate implementation of a cost reduction program to rationalize operations.
On this news, shares of Cortexyme dropped more than 30%, closing at $6.21 per share on January 26, 2022.
Cortexyme also reported that on February 2, 2022, the Company’s Board of Directors approved the previously announced cost reduction program to rationalize operations and to allow continued support for the needs of its business following the clinical hold on atuzaginstat’s (COR388) Investigational New Drug application (IND 134303). Under the cost reduction program, Cortexyme stated that it is reducing headcount by approximately 53% through a workforce reduction.
Cortexyme Shareholders Who Have Lost Money On Their Investment
Cortexyme investors who have suffered financial losses are encouraged to complete Kehoe Law Firm’s Securities Class Action Questionnaire or contact Kehoe Law Firm, P.C., [email protected], to discuss potential legal claims.
Feb 4, 2022 | Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Decarbonization Plus Acquisition Corporation (“DCRB” or “Decarbonization Plus”) breached their fiduciary duties to DCRB’s shareholders.
The investigation concerns whether the board of directors or senior management of DCRB, now known as Hyzon Motors Inc. (“Hyzon Motors”) (NASDAQ: HYZN), failed to manage Decarbonization Plus in an acceptable manner, in breach of their fiduciary duties to DCRB’s shareholders, and whether DCRB’s shareholders suffered damages as a result.
On July 15, 2021, DCRB shareholders of record as of June 1, 2021 approved a merger between DCRB and Hyzon Motors. On September 28, 2021, Blue Orca Capital issued a report critical of Hyzon Motors and its business prospects.
On January 12, 2022, Hyzon Motors announced that it had received a subpoena from the Securities and Exchange Commission for information, including information related to the allegations made in the Blue Orca Capital report.
The Blue Orca Capital (“Blue Orca”) report stated, among other things, that Blue Orca believes that “Hyzon’s supposed major customers are a fake-looking Chinese shell company incorporated three days before the deal announcement and a tiny New Zealand startup which told [Blue Orca] they are not really a customer.”
Blue Orca also reported that “Hyzon is just a repackaging of a flailing Chinese parent company which has been trying to sell the same hydrogen fuel cells without much success for 17 years. The parent entity was delisted from the Chinese OTC exchange in early 2021 at an enterprise value of sub $200 million. Hyzon is just a worse version of this same business in SPAC form, yet trades at 10x the valuation.”
Further, Blue Orca stated that “[n]otably for a zero revenue SPAC banking on the future value of its technology to save its business, two of Hyzon’s chief technology officers have resigned in the past 15 months. The Company is only 20 months old (emphasis in original). Ultimately, [Blue Orca] think[s] Hyzon’s parent has taken advantage of the general suspension of disbelief in financial markets to enrich insiders by repackaging an old technology in a fig leaf of misleading deal announcements and illusory customer contracts.”
FORMER DECARBONIZATION PLUS SHAREHOLDERS MAY HAVE LEGAL CLAIMS AGAINST DCRB’S DIRECTORS AND OFFICERS. IF YOU WERE A DCRB SHAREHOLDER, YOU ARE ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE INVESTIGATION AND POTENTIAL LEGAL CLAIMS.
