NEW YORK, Nov. 02, 2021 (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 D-Market Electronic Services & Trading (NASDAQ: HEPS), Gaotu Techedu Inc. (NYSE: GOTU), Amarin Corporation PLC (NASDAQ: AMRN), and BioMarin Pharmaceuticals (NASDAQ: BMRN). 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.
D-Market Electronic Services & Trading (NASDAQ: HEPS)
Class Period: July 1, 2021 IPO
Lead Plaintiff Deadline: December 20, 2021
The Complaint alleges that the Registration Statement and Prospectus for the IPO (collectively, the “Registration Statement”) were materially false and misleading because they failed to disclose the following adverse facts that existed at the time of the IPO: (1) D-Market had suffered a sharp deceleration in operational and sales growth as consumers retreated from e-commerce offerings in 2Q21; (2) D-Market’s revenue growth had decreased to just 5% year-over-year growth in 2Q21, over 90% below the most recent growth rate highlighted in the Registration Statement; (3) D-Market’s GMV growth had decreased to just 38% year-over-year growth in 2Q21, less than half the most recent growth rate highlighted in the Registration Statement; and (4) as a result of the foregoing, at the time of the IPO, the Company’s business and financial prospects were not as strong as represented in the IPO Registration Statement.
For more information on the D-Market class action go to: https://bespc.com/cases/HEPS
Gaotu Techedu Inc. (NYSE: GOTU)
Class Period: March 22, 2021 to March 29, 2021
Lead Plaintiff Deadline: December 20, 2021
According to the lawsuit, Goldman Sachs Group Inc. and Morgan Stanley sold a large amount of Gaotu American Depository Shares (ADSs) during the Class Period while in possession of material non-public information about Archegos Capital Management (at the time a family office with $10 billion under management) and its need to fully liquidate its position in Gaotu because of margin call pressure. As a result of these sales, the defendants in the case, Goldman Sachs and Morgan Stanley, avoided billions in losses combined.
For more information on the Gaotu class action go to: https://bespc.com/cases/GOTU
Amarin Corporation PLC (NASDAQ: AMRN)
Class Period: December 5, 2018 to June 21, 2021
Lead Plaintiff Deadline: December 20, 2021
The complaint alleges that throughout the Class Period, Amarin and its senior executives made materially false and/or misleading statements and/or failed to disclose that: (1) there was an increasingly high risk that certain of Amarin’s patents would be invalidated; (2) once the District Court invalidated certain of Amarin’s patents, there was little to no chance of reversing that ruling; (3) Amarin’s litigation was preventing it from effectuating a successful takeover; and (4) Amarin was downplaying the true threat the ongoing ANDA litigation posed to the Company's business and future prospects.
For more information on the Amarin class action go to: https://bespc.com/cases/AMRN
BioMarin Pharmaceuticals (NASDAQ: BMRN)
Class Period: January 1, 2020 and September 3, 2021
Lead Plaintiff Deadline: December 21, 2021
According to the filed complaint: (i) BMN 307 was less safe than BioMarin had led investors to believe; (ii) BMN 307’s safety profile made it likely that the FDA would place a clinical hold on the Phearless Phase 1/2 study; (iii) accordingly, the Company had overstated BMN 307’s clinical and commercial prospects; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
For more information on the BioMarin class action go to: https://bespc.com/cases/BMRN
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.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
