FirstCash, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The Consumer Financial Protection Bureau (“CFPB”) filed a lawsuit against FirstCash and Cash America West on November 12, 2021. The CFPB alleges that the companies violated the Military Lending Act by charging interest in excess of the 36% annual rate allowed under the law to active-duty military personnel and their dependents. The CFPB lawsuit seeks an injunction against the Company along with other penalties. Based on this news, shares of FirstCash fell by more than 8.7% on the same day.

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Oak Street Health, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Oak Street held a Q3 update on November 8, 2021, during which it revealed that it is the subject of a DOJ investigation. The federal investigation is to determine if the Company violated the False Claims Act. The Company admitted that the authorities have requested documents and information on the Company providing free transportation to federal healthcare beneficiaries as well as its relationships to third-party marketing agents. Based on this news, shares of Oak Street dropped by about 20% on November 9, 2021.

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Peloton Interactive, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Peloton repeatedly claimed to investors that its positive growth and strong business results would continue after the COVID-19 pandemic subsided. The Company allegedly made false statements about its inventory levels and its ability to maintain appropriate inventory to meet demand. 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 Peloton, investors suffered damages.

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Standard Lithium Ltd.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Standard Lithium is the subject of a research report published by Blue Orca Capital on November 18, 2021. According to the report, the Company’s claims of 90% extraction rates of battery-grade lithium from its Arkansas sites are not supported by filings with state regulators. The report also claims that the Company’s claims of achieving “proof of concept” with extraction technology are false. The Company’s German joint venture partner reportedly says proof of concept has not been achieved and that “extraction is not fully there where we would like it to be.” Based on this news, shares of Standard Lithium fell more than 23% in intraday trading on the same day.

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Paysafe Limited

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Paysafe released its third quarter financial results on November 11, 2021. The Company admitted, “softer than expected revenue, reflecting both market and performance challenges within the digital wallet business.” Based on this news, shares of Paysafe dropped by 41% on the same day.

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Ginkgo Bioworks Holdings, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Ginkgo was almost completely dependent on related parties due to its failure to earn significant revenues from third-party customers. The Company derived most or all of its revenue from related parties it created or otherwise controlled. The Company concealed its dependence on related parties by misclassifying and underreporting related party revenues. Many of the Company’s new R&D partners were undisclosed related parties. Based on these facts, the Company’s public statements were false and materially misleading. When the market learned the truth about Ginkgo, investors suffered damages.

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BellRing Brands, Inc.

The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of BellRing Brands, Inc. (“BellRing” or “the Company”) (NYSE: BRBR) for violations of the securities laws.

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Exicure, Inc.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Exicure filed a Form 12b-25 with the SEC on November 15, 2021, stating that it could not file its quarterly report for the period ending September 30, 2021, in a timely manner. The Company disclosed that it “has retained external counsel to conduct an internal investigation” of “a claim made by a former Company senior researcher regarding alleged improprieties that researcher claims to have committed with respect to the Company’s XCUR-FXN preclinical program for the treatment of Friedreich’s ataxia.” Based on this news, shares of Exicure fell by 27% on the next day.

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Owlet, Inc.

According to the Complaint, the Company made false and misleading statements to the market. Owlet was likely to be required to obtain a marketing authorization for its smart sock product since the FDA had concluded it is a medical device. The Company was likely to cease distribution of the product until the required authorization was obtained. 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 Owlet, investors suffered damages.

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Lightspeed Commerce Inc.

According to the Complaint, the Company made false and misleading statements to the market. Lightspeed overstated its customer count, gross transaction volume (GTV), and increase in Average Revenue Per User (ARPU), among other metrics. The Company misrepresented the strength of its business while concealing its declining organic growth. The Company overstated the benefits of its multiple acquisitions. 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 Lightspeed, investors suffered damages.

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