NRx Pharmaceuticals, Inc.

According to the Complaint, the Company made false and misleading statements to the market. NRx failed to include sufficient information in its EUA application for ZYESAMI on potential benefits and risks. The FDA was unlikely to approve the ZYESAMI EUA as submitted based on this deficiency. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about NRx, investors suffered damages.

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FirstCash, Inc.

According to the Complaint, the Company made false and misleading statements to the market. FirstCash violated the MLA and the consent order between its predecessor organization and the CPFB by making more than 3,600 loans to more than 1,000 active-duty servicemembers and their families at interest rates above 36% and often above 200%. The Company failed to implement remediation plans after the consent order. The Company’s financial results were driven, in part, by its ongoing violations of the MLA and the consent order. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about FirstCash, investors suffered damages.

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Volkswagen AG

According to the Complaint, the Company made false and misleading statements to the market. Volkswagen and Volkswagen Group of America, Inc. (“VWoA”) never planned to use “Voltswagen” in any way, including as the name of a vehicle. The Company misled the media and the general public regarding the “Voltswagen” name it claims was either a “joke” or a “promotion.” Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Volkswagen, investors suffered damages.

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eHealth, Inc.

According to the Complaint, the Company made false and misleading statements to the market. eHealth misrepresented the true expenses and costs it incurred while attempting to retain existing policyholders. Based on this fact, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about eHealth, investors suffered damages.

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Talis Biomedical Corporation

According to the Complaint, the Company made false and misleading statements to the market. Talis’ Emergency Use Authorization (“EUA”) application for the Talis One COVID-19 test used a comparator assay of insufficient sensitivity to support the application. This was likely to cause significant delays in the Company’s application achieving approval. This in turn would cause delays in the commercialization of the Company’s product. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period.

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Talkspace, Inc.

According to the Complaint, the Company made false and misleading statements to the market including a materially false and misleading Preliminary Proxy on Schedule 14A (the “Proxy”). Talkspace suffered from rising marketing costs related to its business-to-consumer (“B2C”) channel throughout 2021. The Company’s B2C advertising was resulting in a lower conversion rate. Demand for the Company’s B2C products was not strong. Tepid demand results in sharply increasing customer acquisition costs and weak growth. The Company overvalued B2B accounts receivables, which eventually had to be adjusted downward.  Based on these facts, the Company’s public statements and Proxy were false and materially misleading. When the market learned the truth about Talkspace, investors suffered damages.o

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Discovery, Inc.

According to the Complaint, Goldman Sachs Group Inc. and Morgan Stanley sold a large number of Discovery shares while in possession of material non-public information. The defendants knew that Archegos Capital Management would need to fully liquidate its position in Discovery based on margin call pressures. The defendants avoided billions in losses by selling the Company’s shares while in possession of this information. When the market learned the truth about Discovery, investors suffered damages.

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Oak Street Health, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Oak Street maintained relationships with third-party marketing agents that were likely to result in scrutiny of law enforcement agencies. The Company provided free transportation to the recipients of federal health care, an activity likely to raise law enforcement concerns as well. The Company’s activities may have been violations of the False Claims Act. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Oak Street, investors suffered damages.

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Bright Health Group, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Bright Health overstated its business and financial prospects for the post-IPO period. The Company was not ready to manage costs related to the COVID-19 pandemic. The Company suffered from a reduction in premium revenue due to its inability to capture risk adjustments. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Bright Health, investors suffered damages.

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Meta Materials Inc. f/k/a Torchlight Energy Resources, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Meta Material’s business combination would result in an SEC investigation and subpoena captioned In the Matter of Torchlight Energy Resources, Inc. The Company overstated its business dealings and connections. The Company also overstated its actual ability to build and commercialize its products. The Company’s product line was not likely to disrupt the market due to factors such as its high price point. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Meta Materials, investors suffered damages.

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