ATI Physical Therapy, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. ATI reported its financial results for the second quarter of 2021 on July 26, 2021. The Company reduced its full-year guidance, blaming “the acceleration of attrition among [its] therapists in the second quarter and continuing into the third quarter.” Based on this news, which came just weeks after its June 16, 2021 business combination with Fortress Value Acquisition Corp. II (“FVAC II”), a special purpose acquisition company (SPAC), ATI’s share price plummeted by 43% on the same day.

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Akebia Therapeutics, Inc.

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Akebia Therapeutics, Inc. (“Akebia” or “the Company”) (NASDAQ: AKBA) who formerly held shares of Keryx Biopharmaceuticals, Inc. (KERX) for violations of the securities laws.

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Eagle Bancorp, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Eagle Bancorp announced its financial and operating results for the second quarter of 2021 on July 21, 2021. In its press release, the Company disclosed that its “Chief Financial Officer recently received a Wells Notice from the [SEC] Staff that the Staff has made a preliminary determination to recommend to the [SEC] enforcement actions against him.” The Wells Notice is in relation to a previously disclosed investigation. Based on this news, shares of Eagle Bancorp fell by 5% on July 22, 2021.

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Oatly Group AB

According to the Complaint, the Company made false and misleading statements to the market. Oatly overinflated its gross margins, capital expenditure financial metrics, and revenues. The Company exaggerated the proprietary nature of both its product formulas and manufacturing processes. The Company overstated its success in China. 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 Oatly, investors suffered damages.

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Activision Blizzard, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Activision Blizzard is the target of a lawsuit filed by California’s Department of Fair Employment and Housing on July 20, 2021. The lawsuit claims that women working at the Company were subjected to “constant sexual harassment,”      which executives were aware of. The lawsuit alleges that the Company violated the Equal Pay Act and the Fair Employment and Housing Act. Based on this news, shares of Activision Blizzard suffered considerable losses over the next several trading sessions.

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CorMedix Inc.

According to the Complaint, the Company made false and misleading statements to the market. CorMedix suffered from deficiencies in its manufacturing process for DefenCath. The FDA was unlikely to approve the Company’s NDA for DefenCath based on these deficiencies. The Company downplayed the extent of these manufacturing problems in its public statements. 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 CorMedix, investors suffered damages.

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Piedmont Lithium Inc.

According to the Complaint, the Company made false and misleading statements to the market. Piedmont would not follow the steps or timeline to secure all necessary permits from governmental agencies. The Company failed to inform appropriate governmental agencies and authorities of its planned activities. The Company failed to file applications with relevant authorities including the state and local governments. Despite its claims, the Company did not have “strong local government support.” 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 Piedmont, investors suffered damages.

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Coinbase Global, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Coinbase was in need of a considerable injection of cash at the time of its IPO. The Company’s platform suffered from service disruptions that were likely to include as it scaled to an increasing number of users. Based on these facts, the Company’s public statements throughout the IPO period were false and materially misleading. When the market learned the truth about Coinbase, investors suffered damages.

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Score Media and Gaming Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On July 13, 2021, theScore reported its third-quarter 2021 financial results. The Company reported GAAP earnings of -$0.78, widely missing analyst estimates by $0.48. The Company also reported an EBITDA loss of $21.1 million, as compared to a loss of just $8.7 million in the same period of the previous year. The Company blamed in part, “additional expenses incurred in connection with the ongoing expansion of the Company’s gaming operations as well as costs and professional service fees related to the recently completed U.S. initial public offering.” Based on this news, shares of theScore dropped by 9% on July 14, 2021.

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Petroteq Energy Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Petroteq issued a press release after the market closed on July 16, 2021, titled: “Petroteq Announces Expected Late Filing of Financial Statements and Application for Management Cease Trade Order; Cautions Against Reliance on Certain Previously-Issued Financial Statements.” Among other statements in the press release, the Company disclosed that certain financial statements from 2018 through 2021 could not be relied on, and would be the subject of restatements. The Company added: “the Company will be unable to file its quarterly report on Form 10-Q (and related certifications) for the period ended May 31, 2021…until it has completed the planned restatements…, which is anticipated to take several weeks-well beyond the extended filing deadline of July 20, 2021.” Based on this news, shares of Petroteq fell on July 19, 2021.

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