SunPower Corporation

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. SunPower disclosed on January 20, 2022, that it had “identified a cracking issue that developed over time in certain factory-installed connectors.” The Company “expects approximately $27 million of supplier-quality related charges in fourth quarter 2021 and approximately $4 million in the first quarter of 2022” in relation to the faulty connectors. Based on this news, shares of SunPower fell by 16% on the next day.

-->

Bumble Inc.

According to the Complaint, the Company made false and misleading statements to the market including in the SPO registration statement. Bumble’s user growth had not only slowed, but by Q3 2021 had actually reversed, resulting in the loss of tens of thousands of customers during the quarter. The Company’s recent price hike left potential customers less likely to sign up for the paid service. Badoo customers were leaving the app for multiple reasons including payment processor issues related to Bumble. Based on these facts, the Company’s public statements and SPO registration statement were false and materially misleading throughout the class period. When the market learned the truth about Bumble, investors suffered damages.

-->

Clarivate Plc

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Clarivate disclosed on December 27, 2021, that its previous financial reports “should no longer be relied upon because of an error in such financial statements.” According to the Company’s disclosure, the error related “to the treatment under U.S. generally accepted accounting principles (‘GAAP’) relating to an equity plan included in the CPA Global business combination, which was consummated on October 1, 2020 (‘the CPA Global Transaction’). In the affected financial statements, certain awards made by CPA Global under its equity plan were incorrectly included as part of the acquisition accounting for the CPA Global Transaction.” Based on this news, shares of Clarivate fell 6.9% on the next day.

-->

Cloopen Group Holding Limited

According to the Complaint, the Company made false and misleading statements to the market. Cloopen’s so-called “land and expand” strategy was failing to attract customers. The Company was far from maintaining a “stable” net retention rate. The Company suffered an increasing number of customers who weren’t paying for its services at the time of the IPO, resulting in massive increases in its accounts receivable. Based on these facts, the Company’s public statements and IPO materials were false and materially misleading throughout the class period. When the market learned the truth about Cloopen, investors suffered damages.

-->

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.

-->

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.

-->

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.

-->

Natera, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The New York Times published an article on January 1, 2022, questioning the accuracy of certain non-invasive prenatal tests (“NIPT”), including Natera’s NIPT, Panorama. The Times article claims that 85% of such tests are incorrect. Based on this news, shares of Natera fell sharply. The Campaign for Accountability then filed a complaint with the SEC on January 14, 2022, claiming that the Company misled investors about false positives and other problems with its tests. Based on this news, the Company’s stock once again dropped sharply.

-->

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.

-->

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.

-->