Revance Therapeutics, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Revance is the subject of an FDA Form 483 posted on October 12, 2021. The form details problems with the Company’s manufacturing facility discovered during a July 2021 inspection. According to the FDA, a working cell bank is noted as a cause of rejected GMP lots. The FDA also found discrepancies between the Company’s proposal for licensure and the manufacturing process in the facility. The agency notes that the Company’s quality unit “lacks the responsibility and authority for the control, review, and approval of outsourced activities….” Based on this news, shares of Revance fell by 25% on the same day.

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Organogenesis Holdings Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Organogenesis is the subject of a report published by Value Investors Club on October 12, 2021. The report alleges that the Company has improperly billed the government for up to $250 million each year. The report also claims that the Company set pricing for its wound covering product Affinity “exorbitantly high,” while making the product extremely lucrative for doctors through rebates. Based on this report, shares of Organogenesis fell by 14% on the same day.

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Vipshop Holdings Limited

According to the Complaint, Goldman Sachs Group Inc. and Morgan Stanley sold a large number of Vipshop shares while in possession of material non-public information. The defendants knew that Archegos Capital Management would need to fully liquidate its position in Vipshop 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 Vipshop, investors suffered damages.

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D-MARKET Electronic Services & Trading d/b/a Hepsiburada

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Hepsiburada announced its second quarter 2021 financial results on August 26, 2021. The Company reported that its revenue grew by 5.2% for the quarter. The Company also disclosed “lower gross contribution driven primarily by investments to fortify our position in electronics, investments to penetrate in high frequency categories as well as higher customer demand for low margin products.” Based on this news, Hepsiburada’s ADS price fell sharply and are trading at less than of its IPO price.

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Faraday Future Intelligent Electric Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Faraday Future is the subject of a report published by J Capital Research on October 7, 2021. The report makes multiple allegations about the Company, including:  “failed to deliver a car,” “has reneged on promises to build factories in five localities in the U.S. and China,” “is being sued by dozens of unpaid suppliers,” and “has failed to disclose that assets in China have been frozen by courts.” The report claims that Faraday Future is unlikely to ever sell a car to a consumer.

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The Joint Corp.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Joint is the subject of a research report published by The Bear Cave on October 7, 2021. According to the report, the Company has been buying back struggling clinics. The report also alleges that the Company may be using an undisclosed related party to make loans to struggling franchises and asserts that the Company is overbilling customers. Based on this report, shares of Joint fell by more than 11% on the same day.

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Eargo, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Eargo sought improper payments from third-party payors. The Company’s third-largest payor was the source of the reimbursements in question. This activity was likely to result in regulatory scrutiny and to adversely impact the Company’s financial results. 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 Eargo, investors suffered damages.

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TMC the metals company Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. TMC is the subject of a report published by Bonitas Research on October 6, 2021. The report alleges serious problems within the Company, including overpayment on licenses to potentially undisclosed insiders; artificial inflation of the Company’s exploration expenses; a potentially unusable license that cost the Company $43 million in cash and stock. Based on this news, shares of TMC dropped more than 6.6% in intraday trading.

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Nano-X Imaging Ltd.

According to the Complaint, the Company made false and misleading statements to the market. The 510(k) application submitted by Nanox for the Nanox.ARC was deficient. Based on this deficiency, the FDA was unlikely to approve the application as submitted. 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 Nanox, investors suffered damages.

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Camber Energy, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Camber is the subject of a research report published by Kerrisdale Capital on October 5, 2021. The report, titled: “Camber Energy, Inc. (CEI): What If They Made a Whole Company Out of Red Flags?,” alleges that the Company “has failed to file financial statements with the SEC since September 2020, is in danger of having its stock delisted next month, and just fired its accounting firm in September.” According to the report, the Company’s only actual asset, a 73% stake in OTC-traded Viking Energy Group, Inc., is in deep trouble and subject to a going-concern warning. The report makes multiple other allegations about the Company, including that its “‘ESG Clean Energy’ technology license is a joke,” that “the most fascinating part of the CEI boondoggle actually has to do with something far more basic: how many shares are there, and why has dilution been spiraling out of control?,” and that the “market is badly mistaken about Camber’s share count and ignorant of [Camber’s] terrifying capital structure.” The report also estimates that the “fully diluted share count is roughly triple the widely reported number.” Based on this news, shares of Camber fell by more than 24% in intraday trading.

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