NEW YORK, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Dave, Inc. (NASDAQ: DAVE), TransMedics Group, Inc. (NASDAQ: TMDX), and Red Cat Holdings, Inc. (NASDAQ: RCAT). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Dave, Inc. (NASDAQ: DAVE)
On December 30, 2024, the Justice Department, together with the Federal Trade Commission (FTC), announced a civil enforcement action against Dave Inc. and its co-founder, President, Chief Executive Officer and Chairman of the Board of Directors, Jason Wilk, for alleged violations of the FTC Act and the Restore Online Shoppers’ Confidence Act (ROSCA). The government’s lawsuit alleges that the defendants misled consumers by deceptively advertising Dave’s cash advances, charging hidden fees, misrepresenting how Dave uses customers’ tips and charging recurring monthly fees without providing a simple mechanism to cancel them.
On this news, Dave shares opened at $84.00 on December 31, 2024, representing a drop of over 10% from the day before.
For more information on the Dave investigation go to: https://bespc.com/DAVE
TransMedics Group, Inc. (NASDAQ: TMDX)
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. TransMedics is the subject of a report issued by Scorpion Capital on January 10, 2025. The report claims that in “20 years of shorting, TransMedics is the most extreme and grotesque healthcare fraud we have encountered, not only for its scale, but because it is predicated on the exploitation of the most vulnerable patients – the terminally ill, desperate for an organ. The ‘lucky’ patients who receive a diseased, damaged organ rejected by reputable surgeons and centers … are oblivious to the cesspool of perverse, secret incentives that steered the organ their way.”
For more information on the TransMedics investigation go to: https://bespc.com/cases/TMDX
Red Cat Holdings, Inc. (NASDAQ: RCAT)
On January 16, 2025, Kerrisdale Capital ("Kerrisdale") published a report alleging that Red Cat has overstated the revenue potential of its U.S. Army Short Range Reconnaissance ("SRR") drone contract and lacks the production capacity to deliver on its promises. The Kerrisdale report also raises concerns about the timing of executive departures and insider transactions that took place shortly after the announcement of the SRR contract.
On this news, Red Cat's stock price fell $2.36 per share, or 21.63%, over the following two trading sessions, to close at $8.55 per share on January 17, 2025.
For more information on the Red Cat investigation go to: https://bespc.com/cases/RCAT
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
