Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil Hydroworld Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Veradigm, Fisker, Microvast, and Eagle Pharmaceuticals and Encourages Investors to Contact the Firm By: Bragar Eagel & Squire via GlobeNewswire January 15, 2024 at 21:00 PM EST NEW YORK, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Veradigm Inc. (NASDAQ: MDRX), Fisker Inc. (NYSE: FSR), Microvast Holdings, Inc. (NASDAQ: MVST), and Eagle Pharmaceuticals, Inc. (NASDAQ: EGRX). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided. Veradigm Inc. (NASDAQ: MDRX) Class Period: February 26, 2021 - December 7, 2023 (Common Stock Only) Lead Plaintiff Deadline: January 22, 2024 The Veradigm class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Veradigm had overstated its historical revenues by at least $20 million; (ii) Veradigm had artificially inflated its revenue by recording duplicate transactions, among other things, over a more than two-year period; (iii) Veradigm had artificially inflated its earnings and margins and materially misrepresented demand for Veradigm’s products and services; (iv) Veradigm had failed to maintain effective internal controls over its financial reporting; and (v) Veradigm had failed to comply with Generally Accepted Accounting Principles regarding appropriate revenue recognition practices. On February 28, 2023, Veradigm announced that it had “detected certain internal control failures related to revenue recognition that had occurred over the prior six quarters, resulting in a misstatement of reported revenues during those periods.” Veradigm disclosed that the revenue misstatements caused revenue to be overstated by approximately $20 million from the third quarter of 2021 until the fourth quarter of 2022. On this news, the price of Veradigm stock fell nearly 13%. Then, on June 13, 2023, Veradigm revealed that it had identified additional revenue misstatements dating back to fiscal year 2020. Veradigm further disclosed that its internal review on the nature and extent of the accounting and internal control errors would take longer than previously disclosed, and Veradigm’s independent auditors needed more time to complete their audit procedures. As a result, Veradigm would not meet the deadline to file its annual report on Form 10-K. On this news, the price of Veradigm stock fell more than 4%. For more information on the Veradigm class action go to: https://bespc.com/cases/MDRX Fisker Inc. (NYSE: FSR) Class Period: August 4, 2023 - November 20, 2023 Lead Plaintiff Deadline: January 26, 2024 On November 8, 2023, before the market opened, Fisker announced that the completion of the Company’s financial statements would be delayed due to the appointment of a new chief accounting officer (“CAO”) and the departure of the Company’s former CAO. The Company had previously announced former CAO, John Finnucan (“Finnucan”) provided notice of intent to resign on September 19, 2023, effective October 27, 2023. Fisker’s new CAO, Florus Beuting (“Beuting”), was hired effective as of November 6, 2023. The Company advised it “expects to file its Form 10-Q by November 14, 2023.” On this news, the Company’s share price fell $0.38, or 8.7%, to close at $3.99 per share on November 8, 2023, on unusually heavy trading volume. Then, on November 13, 2023, after the market closed, Fisker announced its third quarter 2023 financial results, reporting a loss of $91.0 million and $0.27 loss per share. The Company also reported $78.02 million in selling, general and administrative operating costs and expenses, as well as $9.42 million for research and development, totaling $87.44 million for total operating costs and expenses for the three months ended September 30, 2023. The Company also cut its production forecast for the year and disclosed that, though 4,725 Oceans were built in the third quarter, only 1,097 were delivered to customers. The Company also announced it would be unable to timely file the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023. The Company disclosed, in preparing its results, it had determined “it has material weaknesses” in “internal control over financial reporting.” On that same day, the Company held an earnings call wherein Defendants disclosed that the delay in reporting was due to having a “highly complex quarter” including “very complex accounting along with convertible notes and accounting for derivative” and “things like raw material inventory accounting and finished goods inventory accounting[.]” The Company also disclosed that “delivery and the service infrastructure” was limiting deliveries and, as a result, the Company was “in the process of dramatically overhauling our service and delivery infrastructure.” On this news, the Company’s share price fell $0.77, or 18.7%, to close at $3.34 per share on November 14, 2023, on unusually heavy trading volume. On November 20, 2023, after the market closed, the Company disclosed that Beuting (the CAO hired November 6, 2023) had provided notice of his intent to resign from the Company on November 14, 2023, effective immediately. On this news, the Company’s share price fell $0.35, or 15%, to close at $2.00 per share on November 21, 2023, on unusually heavy trading volume Finally, on November 22, 2023, the Company filed its Form 10-Q quarterly report for the period ended September 30, 2023, which disclosed that the Company had “identified approximately $20 million of expenses” which were “incorrectly recorded primarily as selling, general and administrative expenses in our preliminary earnings results, but were later determined to be associated with production set-up activities” and that “other inventory adjustments were recorded resulting in a $4.0 million increase in net loss subsequent to the preliminary earnings results.” The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Fisker had a material weakness in its internal control over financial reporting; (2) that Fisker had incorrectly accounted for certain costs; (3) that as a result the Company was likely to delay filing its quarterly report; (4) that Fisker’s infrastructure was limiting its ability to deliver its production; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. For more information on the Fisker class action go to: https://bespc.com/cases/FSR Microvast Holdings, Inc. (NASDAQ: MVST) Class Period: October 19, 2022 - November 20, 2023 Lead Plaintiff Deadline: February 5, 2024 In October 2022, the United States Department of Energy (“DOE”) conditionally selected Microvast for a proposed $200 million grant to help fund a proposed polyaramid separator production facility (the “Grant”). Polyaramid is a high-temperature resistant synthetic polymer, and a polyaramid separator is an insulating film used in high-capacity lithium-ion batteries. On May 22, 2023, after the market closed, Reuters reported the DOE would not award Microvast the Grant. In a call with congressional staff that evening, the DOE confirmed negotiations with Microvast concerning the Grant had been cancelled. A spokesperson for the DOE stated “[t]he department can confirm that it has elected to cancel negotiations and not to award Microvast funds from this competitive funding opportunity.” The DOE stated it would not comment publicly on why it decided to cancel negotiations with any applicant but did state “the Department of Energy maintains a rigorous review process prior to the release of any awarded funds, and it is not uncommon for entities selected to participate in award negotiations under a DOE competitive funding opportunity to not ultimately receive an award[.]” This news came after months of political fervor over the Company’s alleged ties to China. On this news, the Company’s share price fell $0.80, or 36%, to close at $1.40 per share on May 23, 2023, on unusually heavy trading volume. Then, on November 21, 2023, at approximately 9:00 a.m., J Capital Research published a report on Microvast entitled “MVST: Empty Facilities and a Grant Loss That Was Probably Hidden: Another China Hustle” (the “Report”). The Report alleged the Company knew the Grant had been rescinded for months prior to Reuters reporting but failed to inform investors. The Report alleged further that “the majority of MVST’s sales may be fake,” that “Chinese customers account for 57% of revenue in 2023” but drone footage shows the Company’s Chinese factory “shows almost no activity,” that the Company “has disappeared from Chinese procurement lists” and “local competitors say the company is not making discernible sales” and that the Company’s reported backlog was “dubious.” On this news, the Company’s share price fell $0.33, or 25%, to close at $0.98 per share on November 21, 2023, on unusually heavy trading volume. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that there was a reasonable likelihood that Microvast would not be awarded the Grant after due diligence was performed; (2) that negotiations had ceased and the Grant rescinded; (3) that the Company misrepresented the nature and profitability of its businesses and partnerships; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. For more information on the Microvast class action go to: https://bespc.com/cases/MVST Eagle Pharmaceuticals, Inc. (NASDAQ: EGRX) Class Period: August 8, 2023 - November 28, 2023 Lead Plaintiff Deadline: February 9, 2024 On November 9, 2023, before the market opened, Eagle Pharmaceuticals announced that it would not release its third quarter 2023 results that day (as had been expected) because the Company “requires more time to review potential adjustments relating to the reporting of sales of PEMFEXY® prior to filing its Form 10-Q.” The Company also disclosed it “expects to revise its previously disclosed 2023 full year guidance downward.” On this news, the Company’s stock price fell $4.16, or 30.4%, to close at $9.54 per share on November 9, 2023, on unusually heavy trading volume. After the market closed on November 9, 2023, the Company also disclosed that it was reviewing “potential adjustments to reserves for returns and price adjustments of approximately $15.0 million to $20.0 million.” These amounts relate “to returns and a price adjustment for PEMFEXY stemming from slower-than-anticipated pull-through from a wholesale customer predominantly due to expiry of inventory.” On this news, the Company’s stock price fell $0.27, or 2.8%, to close at $9.27 per share on November 10, 2023, on unusually heavy trading volume. Then, on November 29, 2023, before the market opened, Eagle Pharmaceuticals disclosed that Scott Tarriff, the Company’s President and Chief Executive Officer resigned. The Company’s board of directors accepted the resignation “[a]fter consideration of various alternatives, including termination with or without cause.” On this news, the Company’s stock price fell $2.55, or 31%, to close at $5.68 per share on November 29, 2023, on unusually heavy trading volume. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company was experiencing slower-than-anticipated pull-though from a wholesale customer predominantly due to expiry of inventory; (2) that, as a result, the Company had overstated its revenue; (3) that the Company did not have effective internal controls and procedures over financial reporting as to PEMFEXY sales; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. For more information on the Eagle Pharmaceuticals class action go to: https://bespc.com/cases/EGRX 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) 355-4648investigations@bespc.comwww.bespc.com Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Veradigm, Fisker, Microvast, and Eagle Pharmaceuticals and Encourages Investors to Contact the Firm By: Bragar Eagel & Squire via GlobeNewswire January 15, 2024 at 21:00 PM EST NEW YORK, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Veradigm Inc. (NASDAQ: MDRX), Fisker Inc. (NYSE: FSR), Microvast Holdings, Inc. (NASDAQ: MVST), and Eagle Pharmaceuticals, Inc. (NASDAQ: EGRX). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided. Veradigm Inc. (NASDAQ: MDRX) Class Period: February 26, 2021 - December 7, 2023 (Common Stock Only) Lead Plaintiff Deadline: January 22, 2024 The Veradigm class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Veradigm had overstated its historical revenues by at least $20 million; (ii) Veradigm had artificially inflated its revenue by recording duplicate transactions, among other things, over a more than two-year period; (iii) Veradigm had artificially inflated its earnings and margins and materially misrepresented demand for Veradigm’s products and services; (iv) Veradigm had failed to maintain effective internal controls over its financial reporting; and (v) Veradigm had failed to comply with Generally Accepted Accounting Principles regarding appropriate revenue recognition practices. On February 28, 2023, Veradigm announced that it had “detected certain internal control failures related to revenue recognition that had occurred over the prior six quarters, resulting in a misstatement of reported revenues during those periods.” Veradigm disclosed that the revenue misstatements caused revenue to be overstated by approximately $20 million from the third quarter of 2021 until the fourth quarter of 2022. On this news, the price of Veradigm stock fell nearly 13%. Then, on June 13, 2023, Veradigm revealed that it had identified additional revenue misstatements dating back to fiscal year 2020. Veradigm further disclosed that its internal review on the nature and extent of the accounting and internal control errors would take longer than previously disclosed, and Veradigm’s independent auditors needed more time to complete their audit procedures. As a result, Veradigm would not meet the deadline to file its annual report on Form 10-K. On this news, the price of Veradigm stock fell more than 4%. For more information on the Veradigm class action go to: https://bespc.com/cases/MDRX Fisker Inc. (NYSE: FSR) Class Period: August 4, 2023 - November 20, 2023 Lead Plaintiff Deadline: January 26, 2024 On November 8, 2023, before the market opened, Fisker announced that the completion of the Company’s financial statements would be delayed due to the appointment of a new chief accounting officer (“CAO”) and the departure of the Company’s former CAO. The Company had previously announced former CAO, John Finnucan (“Finnucan”) provided notice of intent to resign on September 19, 2023, effective October 27, 2023. Fisker’s new CAO, Florus Beuting (“Beuting”), was hired effective as of November 6, 2023. The Company advised it “expects to file its Form 10-Q by November 14, 2023.” On this news, the Company’s share price fell $0.38, or 8.7%, to close at $3.99 per share on November 8, 2023, on unusually heavy trading volume. Then, on November 13, 2023, after the market closed, Fisker announced its third quarter 2023 financial results, reporting a loss of $91.0 million and $0.27 loss per share. The Company also reported $78.02 million in selling, general and administrative operating costs and expenses, as well as $9.42 million for research and development, totaling $87.44 million for total operating costs and expenses for the three months ended September 30, 2023. The Company also cut its production forecast for the year and disclosed that, though 4,725 Oceans were built in the third quarter, only 1,097 were delivered to customers. The Company also announced it would be unable to timely file the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023. The Company disclosed, in preparing its results, it had determined “it has material weaknesses” in “internal control over financial reporting.” On that same day, the Company held an earnings call wherein Defendants disclosed that the delay in reporting was due to having a “highly complex quarter” including “very complex accounting along with convertible notes and accounting for derivative” and “things like raw material inventory accounting and finished goods inventory accounting[.]” The Company also disclosed that “delivery and the service infrastructure” was limiting deliveries and, as a result, the Company was “in the process of dramatically overhauling our service and delivery infrastructure.” On this news, the Company’s share price fell $0.77, or 18.7%, to close at $3.34 per share on November 14, 2023, on unusually heavy trading volume. On November 20, 2023, after the market closed, the Company disclosed that Beuting (the CAO hired November 6, 2023) had provided notice of his intent to resign from the Company on November 14, 2023, effective immediately. On this news, the Company’s share price fell $0.35, or 15%, to close at $2.00 per share on November 21, 2023, on unusually heavy trading volume Finally, on November 22, 2023, the Company filed its Form 10-Q quarterly report for the period ended September 30, 2023, which disclosed that the Company had “identified approximately $20 million of expenses” which were “incorrectly recorded primarily as selling, general and administrative expenses in our preliminary earnings results, but were later determined to be associated with production set-up activities” and that “other inventory adjustments were recorded resulting in a $4.0 million increase in net loss subsequent to the preliminary earnings results.” The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Fisker had a material weakness in its internal control over financial reporting; (2) that Fisker had incorrectly accounted for certain costs; (3) that as a result the Company was likely to delay filing its quarterly report; (4) that Fisker’s infrastructure was limiting its ability to deliver its production; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. For more information on the Fisker class action go to: https://bespc.com/cases/FSR Microvast Holdings, Inc. (NASDAQ: MVST) Class Period: October 19, 2022 - November 20, 2023 Lead Plaintiff Deadline: February 5, 2024 In October 2022, the United States Department of Energy (“DOE”) conditionally selected Microvast for a proposed $200 million grant to help fund a proposed polyaramid separator production facility (the “Grant”). Polyaramid is a high-temperature resistant synthetic polymer, and a polyaramid separator is an insulating film used in high-capacity lithium-ion batteries. On May 22, 2023, after the market closed, Reuters reported the DOE would not award Microvast the Grant. In a call with congressional staff that evening, the DOE confirmed negotiations with Microvast concerning the Grant had been cancelled. A spokesperson for the DOE stated “[t]he department can confirm that it has elected to cancel negotiations and not to award Microvast funds from this competitive funding opportunity.” The DOE stated it would not comment publicly on why it decided to cancel negotiations with any applicant but did state “the Department of Energy maintains a rigorous review process prior to the release of any awarded funds, and it is not uncommon for entities selected to participate in award negotiations under a DOE competitive funding opportunity to not ultimately receive an award[.]” This news came after months of political fervor over the Company’s alleged ties to China. On this news, the Company’s share price fell $0.80, or 36%, to close at $1.40 per share on May 23, 2023, on unusually heavy trading volume. Then, on November 21, 2023, at approximately 9:00 a.m., J Capital Research published a report on Microvast entitled “MVST: Empty Facilities and a Grant Loss That Was Probably Hidden: Another China Hustle” (the “Report”). The Report alleged the Company knew the Grant had been rescinded for months prior to Reuters reporting but failed to inform investors. The Report alleged further that “the majority of MVST’s sales may be fake,” that “Chinese customers account for 57% of revenue in 2023” but drone footage shows the Company’s Chinese factory “shows almost no activity,” that the Company “has disappeared from Chinese procurement lists” and “local competitors say the company is not making discernible sales” and that the Company’s reported backlog was “dubious.” On this news, the Company’s share price fell $0.33, or 25%, to close at $0.98 per share on November 21, 2023, on unusually heavy trading volume. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that there was a reasonable likelihood that Microvast would not be awarded the Grant after due diligence was performed; (2) that negotiations had ceased and the Grant rescinded; (3) that the Company misrepresented the nature and profitability of its businesses and partnerships; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. For more information on the Microvast class action go to: https://bespc.com/cases/MVST Eagle Pharmaceuticals, Inc. (NASDAQ: EGRX) Class Period: August 8, 2023 - November 28, 2023 Lead Plaintiff Deadline: February 9, 2024 On November 9, 2023, before the market opened, Eagle Pharmaceuticals announced that it would not release its third quarter 2023 results that day (as had been expected) because the Company “requires more time to review potential adjustments relating to the reporting of sales of PEMFEXY® prior to filing its Form 10-Q.” The Company also disclosed it “expects to revise its previously disclosed 2023 full year guidance downward.” On this news, the Company’s stock price fell $4.16, or 30.4%, to close at $9.54 per share on November 9, 2023, on unusually heavy trading volume. After the market closed on November 9, 2023, the Company also disclosed that it was reviewing “potential adjustments to reserves for returns and price adjustments of approximately $15.0 million to $20.0 million.” These amounts relate “to returns and a price adjustment for PEMFEXY stemming from slower-than-anticipated pull-through from a wholesale customer predominantly due to expiry of inventory.” On this news, the Company’s stock price fell $0.27, or 2.8%, to close at $9.27 per share on November 10, 2023, on unusually heavy trading volume. Then, on November 29, 2023, before the market opened, Eagle Pharmaceuticals disclosed that Scott Tarriff, the Company’s President and Chief Executive Officer resigned. The Company’s board of directors accepted the resignation “[a]fter consideration of various alternatives, including termination with or without cause.” On this news, the Company’s stock price fell $2.55, or 31%, to close at $5.68 per share on November 29, 2023, on unusually heavy trading volume. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company was experiencing slower-than-anticipated pull-though from a wholesale customer predominantly due to expiry of inventory; (2) that, as a result, the Company had overstated its revenue; (3) that the Company did not have effective internal controls and procedures over financial reporting as to PEMFEXY sales; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. For more information on the Eagle Pharmaceuticals class action go to: https://bespc.com/cases/EGRX 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) 355-4648investigations@bespc.comwww.bespc.com
NEW YORK, Jan. 15, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Veradigm Inc. (NASDAQ: MDRX), Fisker Inc. (NYSE: FSR), Microvast Holdings, Inc. (NASDAQ: MVST), and Eagle Pharmaceuticals, Inc. (NASDAQ: EGRX). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided. Veradigm Inc. (NASDAQ: MDRX) Class Period: February 26, 2021 - December 7, 2023 (Common Stock Only) Lead Plaintiff Deadline: January 22, 2024 The Veradigm class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Veradigm had overstated its historical revenues by at least $20 million; (ii) Veradigm had artificially inflated its revenue by recording duplicate transactions, among other things, over a more than two-year period; (iii) Veradigm had artificially inflated its earnings and margins and materially misrepresented demand for Veradigm’s products and services; (iv) Veradigm had failed to maintain effective internal controls over its financial reporting; and (v) Veradigm had failed to comply with Generally Accepted Accounting Principles regarding appropriate revenue recognition practices. On February 28, 2023, Veradigm announced that it had “detected certain internal control failures related to revenue recognition that had occurred over the prior six quarters, resulting in a misstatement of reported revenues during those periods.” Veradigm disclosed that the revenue misstatements caused revenue to be overstated by approximately $20 million from the third quarter of 2021 until the fourth quarter of 2022. On this news, the price of Veradigm stock fell nearly 13%. Then, on June 13, 2023, Veradigm revealed that it had identified additional revenue misstatements dating back to fiscal year 2020. Veradigm further disclosed that its internal review on the nature and extent of the accounting and internal control errors would take longer than previously disclosed, and Veradigm’s independent auditors needed more time to complete their audit procedures. As a result, Veradigm would not meet the deadline to file its annual report on Form 10-K. On this news, the price of Veradigm stock fell more than 4%. For more information on the Veradigm class action go to: https://bespc.com/cases/MDRX Fisker Inc. (NYSE: FSR) Class Period: August 4, 2023 - November 20, 2023 Lead Plaintiff Deadline: January 26, 2024 On November 8, 2023, before the market opened, Fisker announced that the completion of the Company’s financial statements would be delayed due to the appointment of a new chief accounting officer (“CAO”) and the departure of the Company’s former CAO. The Company had previously announced former CAO, John Finnucan (“Finnucan”) provided notice of intent to resign on September 19, 2023, effective October 27, 2023. Fisker’s new CAO, Florus Beuting (“Beuting”), was hired effective as of November 6, 2023. The Company advised it “expects to file its Form 10-Q by November 14, 2023.” On this news, the Company’s share price fell $0.38, or 8.7%, to close at $3.99 per share on November 8, 2023, on unusually heavy trading volume. Then, on November 13, 2023, after the market closed, Fisker announced its third quarter 2023 financial results, reporting a loss of $91.0 million and $0.27 loss per share. The Company also reported $78.02 million in selling, general and administrative operating costs and expenses, as well as $9.42 million for research and development, totaling $87.44 million for total operating costs and expenses for the three months ended September 30, 2023. The Company also cut its production forecast for the year and disclosed that, though 4,725 Oceans were built in the third quarter, only 1,097 were delivered to customers. The Company also announced it would be unable to timely file the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2023. The Company disclosed, in preparing its results, it had determined “it has material weaknesses” in “internal control over financial reporting.” On that same day, the Company held an earnings call wherein Defendants disclosed that the delay in reporting was due to having a “highly complex quarter” including “very complex accounting along with convertible notes and accounting for derivative” and “things like raw material inventory accounting and finished goods inventory accounting[.]” The Company also disclosed that “delivery and the service infrastructure” was limiting deliveries and, as a result, the Company was “in the process of dramatically overhauling our service and delivery infrastructure.” On this news, the Company’s share price fell $0.77, or 18.7%, to close at $3.34 per share on November 14, 2023, on unusually heavy trading volume. On November 20, 2023, after the market closed, the Company disclosed that Beuting (the CAO hired November 6, 2023) had provided notice of his intent to resign from the Company on November 14, 2023, effective immediately. On this news, the Company’s share price fell $0.35, or 15%, to close at $2.00 per share on November 21, 2023, on unusually heavy trading volume Finally, on November 22, 2023, the Company filed its Form 10-Q quarterly report for the period ended September 30, 2023, which disclosed that the Company had “identified approximately $20 million of expenses” which were “incorrectly recorded primarily as selling, general and administrative expenses in our preliminary earnings results, but were later determined to be associated with production set-up activities” and that “other inventory adjustments were recorded resulting in a $4.0 million increase in net loss subsequent to the preliminary earnings results.” The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Fisker had a material weakness in its internal control over financial reporting; (2) that Fisker had incorrectly accounted for certain costs; (3) that as a result the Company was likely to delay filing its quarterly report; (4) that Fisker’s infrastructure was limiting its ability to deliver its production; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. For more information on the Fisker class action go to: https://bespc.com/cases/FSR Microvast Holdings, Inc. (NASDAQ: MVST) Class Period: October 19, 2022 - November 20, 2023 Lead Plaintiff Deadline: February 5, 2024 In October 2022, the United States Department of Energy (“DOE”) conditionally selected Microvast for a proposed $200 million grant to help fund a proposed polyaramid separator production facility (the “Grant”). Polyaramid is a high-temperature resistant synthetic polymer, and a polyaramid separator is an insulating film used in high-capacity lithium-ion batteries. On May 22, 2023, after the market closed, Reuters reported the DOE would not award Microvast the Grant. In a call with congressional staff that evening, the DOE confirmed negotiations with Microvast concerning the Grant had been cancelled. A spokesperson for the DOE stated “[t]he department can confirm that it has elected to cancel negotiations and not to award Microvast funds from this competitive funding opportunity.” The DOE stated it would not comment publicly on why it decided to cancel negotiations with any applicant but did state “the Department of Energy maintains a rigorous review process prior to the release of any awarded funds, and it is not uncommon for entities selected to participate in award negotiations under a DOE competitive funding opportunity to not ultimately receive an award[.]” This news came after months of political fervor over the Company’s alleged ties to China. On this news, the Company’s share price fell $0.80, or 36%, to close at $1.40 per share on May 23, 2023, on unusually heavy trading volume. Then, on November 21, 2023, at approximately 9:00 a.m., J Capital Research published a report on Microvast entitled “MVST: Empty Facilities and a Grant Loss That Was Probably Hidden: Another China Hustle” (the “Report”). The Report alleged the Company knew the Grant had been rescinded for months prior to Reuters reporting but failed to inform investors. The Report alleged further that “the majority of MVST’s sales may be fake,” that “Chinese customers account for 57% of revenue in 2023” but drone footage shows the Company’s Chinese factory “shows almost no activity,” that the Company “has disappeared from Chinese procurement lists” and “local competitors say the company is not making discernible sales” and that the Company’s reported backlog was “dubious.” On this news, the Company’s share price fell $0.33, or 25%, to close at $0.98 per share on November 21, 2023, on unusually heavy trading volume. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that there was a reasonable likelihood that Microvast would not be awarded the Grant after due diligence was performed; (2) that negotiations had ceased and the Grant rescinded; (3) that the Company misrepresented the nature and profitability of its businesses and partnerships; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. For more information on the Microvast class action go to: https://bespc.com/cases/MVST Eagle Pharmaceuticals, Inc. (NASDAQ: EGRX) Class Period: August 8, 2023 - November 28, 2023 Lead Plaintiff Deadline: February 9, 2024 On November 9, 2023, before the market opened, Eagle Pharmaceuticals announced that it would not release its third quarter 2023 results that day (as had been expected) because the Company “requires more time to review potential adjustments relating to the reporting of sales of PEMFEXY® prior to filing its Form 10-Q.” The Company also disclosed it “expects to revise its previously disclosed 2023 full year guidance downward.” On this news, the Company’s stock price fell $4.16, or 30.4%, to close at $9.54 per share on November 9, 2023, on unusually heavy trading volume. After the market closed on November 9, 2023, the Company also disclosed that it was reviewing “potential adjustments to reserves for returns and price adjustments of approximately $15.0 million to $20.0 million.” These amounts relate “to returns and a price adjustment for PEMFEXY stemming from slower-than-anticipated pull-through from a wholesale customer predominantly due to expiry of inventory.” On this news, the Company’s stock price fell $0.27, or 2.8%, to close at $9.27 per share on November 10, 2023, on unusually heavy trading volume. Then, on November 29, 2023, before the market opened, Eagle Pharmaceuticals disclosed that Scott Tarriff, the Company’s President and Chief Executive Officer resigned. The Company’s board of directors accepted the resignation “[a]fter consideration of various alternatives, including termination with or without cause.” On this news, the Company’s stock price fell $2.55, or 31%, to close at $5.68 per share on November 29, 2023, on unusually heavy trading volume. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company was experiencing slower-than-anticipated pull-though from a wholesale customer predominantly due to expiry of inventory; (2) that, as a result, the Company had overstated its revenue; (3) that the Company did not have effective internal controls and procedures over financial reporting as to PEMFEXY sales; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. For more information on the Eagle Pharmaceuticals class action go to: https://bespc.com/cases/EGRX 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) 355-4648investigations@bespc.comwww.bespc.com