Northern Dynasty Minerals Ltd.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Northern Dynasty was issued a record of decision by the U.S. Army Corps of Engineers on November 25, 2020. The Company was denied permits related to the Pebble project, its proposed mine in Alaska. The regulator noted that the Company’s “compensatory mitigation plan” as submitted was “non-compliant,” and found the project “not in the public interest.” Based on this news, shares of Northern Dynasty fell by 50% on the same day.

-->

Pinterest, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Pinterest was approaching the maximum capacity of its addressable market in the United States. This market saturation greatly slowed down the Company’s potential to increase its average revenue per user. The Company also suffered a greater risk of losing advertising revenue. 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 Pinterest, investors suffered damages.

-->

Sona Nanotech Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Sona announced on October 29, 2020, that the FDA had denied its request for an emergency use authorization to market its rapid COVID-19 antigen test in the United States. The Company’s shares fell 48% on the same day. Then on November 25, 2020, the Company announced the withdrawal of “an Interim Order authorization from Health Canada for the marketing of its rapid, COVID-19 antigen test in order to obtain more clinical data to augment its submission.” Based on this news, shares of Sona fell by more than 67% on the same day.

-->

Covia Holdings Corporation

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Covia revealed in a 10-Q Quarterly Report released on May 9, 2019, that it was the subject of an SEC subpoena issued on March 18, 2019. The SEC was  “seeking information relating to certain value-added proppants marketed and sold by Fairmount Santrol or Covia within the Energy segment.” In a second 10-Q Quarterly Report issued by the Company on November 6, 2019, it was revealed that the SEC had “requested additional information and subpoenaed certain current and former employees to testify.” Shares of Covia fell based on the facts revealed by each 10-Q filing.

-->

Sonoma Pharmaceuticals, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Sonoma filed an 8-K with the SEC on November 17, 2020. The filing announced that the Company’s “unaudited condensed consolidated interim financial statements for the quarter ended June 30, 2020 should no longer be relied upon.” The Company added that the financial statements “contained material errors” and that “the Company will need to restate them.” Based on these facts, the Company’s shares fell by more than 14% on the next trading day.

-->

Berry Corporation

According to the Complaint, the Company made false and misleading statements to the market. Berry overstated both its operational efficiency and stability. The Company’s poor efficiency and instability would eventually require significant operational improvements that would raise costs and disrupt operations. These required improvements would negatively impact the Company’s revenues. Based on these facts, the Company’s public statements and Offering Documents were false and materially misleading throughout the class period. When the market learned the truth about Berry, investors suffered damages.

-->

Quotient Technology Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Quotient reported its financial results for the third quarter of 2020 on November 5, 2020. The Company’s revenue fell short of consensus expectations, and it also reported, for the three and nine months ending September 30, 2020, “restructuring charges of zero and $1.5 million, respectively, certain acquisition related costs of $0.4 million and $1.0 million, respectively, and loss contingency of $2.0 million related to a contract dispute resulting from a retailer’s failure to perform certain obligations related to a guaranteed distribution fee arrangement for both respective periods.” Based on this news, shares of Quotient fell by nearly 22% on the next day.

-->

K12 Inc.

According to the Complaint, the Company made false and misleading statements to the market. K12 failed to build and maintain the necessary technology, infrastructure, and knowledgebase necessary to support increased demand for distance learning caused by the COVID-19 pandemic. The Company lacked the appropriate cybersecurity measures necessary to prevent its systems from being disabled by bad actors. The Company failed to provide support and training to educators, parents, and students. 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 K12, investors suffered damages.

-->

JOYY Inc.

According to the Complaint, the Company made false and misleading statements to the market. JOYY dramatically overstated the revenues of its live streaming business. The majority of the Company’s users were bots, which it used in a roundtripping scheme to produce fake revenues. The Company overstated its cash reserves. The Company’s acquisition of Bigo was a scheme to benefit insiders. 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 JOYY, investors suffered damages.

-->

Alibaba Group Holding Limited

According to the Complaint, the Company made false and misleading statements to the market. Alibaba held a 33% ownership stake in Ant Small and Micro Financial Services Group Co., Ltd. (“Ant Group”), which planned an initial public offering (“IPO”) for October 2020. Alibaba failed to disclose that Ant Group did not meeting the qualifications for listing. Upcoming changes to Fintech regulations would seriously impact Ant Group. Ant Group’s IPO was likely to be suspended. 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 Alibaba, investors suffered damages.

-->