SAN DIEGO, Feb. 07, 2022 (GLOBE NEWSWIRE) -- National law firm Morris Kandinov is investigating the actions of the officers and board of directors of QuantumScape Corporation, Romeo Power, Inc., Exela Technologies Inc., and Corcept Therapeutics, Inc. If you are a current owner of shares of any of these stocks, contact leo@moka.law or call (619) 780-3993.
QuantumScape Corporation (NYSE: QS) Accused of Misleading Investors
On January 14, 2022, Judge William H. Orrick of the United States District Court for the Northern District of California issued an order denying the defendants’ motion to dismiss in the pending securities class action against QuantumScape Corporation, paving the way for litigation to proceed. The securities class action alleges that defendants made misrepresentations about the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that the Company’s purported success related to its solid-state battery power, battery life, and energy density were significantly overstated; (2) that the Company is unlikely to be able to scale its technology to the multi-layer cell necessary to power electric vehicles; and (3) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were misleading. When the truth about the Company’s business prospects was revealed, QuantumScape's stock plummeted $34.49, or over 40%, to close at $49.96 per share on January 4, 2021. The stock is currently trading just over $16.00. Morris Kandinov is investigating QuantumScape regarding possible breaches of fiduciary duties and other violations of law on behalf of shareholders. To learn more about this investigation and your rights, visit: https://moka.law/case-contact-form/. Representation is contingency based, no out of pocket costs.
Romeo Power, Inc. (NYSE: RMO) Accused of Misleading Investors
Morris Kandinov reminds investors that a class action has been filed against Romeo Power, Inc. According to a class action complaint filed against the Company, Romeo and key executives misrepresented the Company’s ability to meet demand. On March 30, 2021, Romeo issued a press release and filed a report with the SEC that disclosed its financial results for the quarter and year ended December 31, 2020. Romeo shocked investors by disclosing that its production had been hampered by a shortage in supply of battery cells and that its estimated 2021 revenue would therefore be reduced by approximately 71-87%. During a conference call the same day, Romeo revealed that it had only two battery suppliers, not four as previously represented. Then, on March 31, 2021, Morgan Stanley downgraded Romeo's target price from $12 to $7 per share. On this news, Romeo shares declined almost 20%, to close at $8.33 per share. The stock price has yet to recover and currently trades at just over $2.00 per share. Morris Kandinov is investigating Romeo regarding possible breaches of fiduciary duties and other violations of law on behalf of shareholders. To learn more about this investigation and your rights, visit: https://moka.law/case-contact-form/. Representation is contingency based, no out of pocket costs.
Exela Technologies Inc. (NASDAQ: XELA) Accused of Misleading Investors
On January 21, 2022, Judge Sidney A. Fitzwater of the United States District Court for the Northern District of Texas issued an order denying the defendants’ motion to dismiss in the pending securities class action against Exela Technologies Inc., paving the way for litigation to proceed. Morris Kandinov is investigating Exela regarding possible breaches of fiduciary duties and other violations of law on behalf of shareholders. To learn more about this investigation and your rights, visit: https://moka.law/case-contact-form/. Representation is contingency based, no out of pocket costs.
Corcept Therapeutics, Inc. (NASDAQ: CORT) Accused of Misleading Investors
Morris Kandinov reminds investors that on August 24, 2021, Judge Lucy Koh of the United States District Court for the Northern District of California issued an order denying in part the defendants’ motion to dismiss in the pending securities class action against Corcept Therapeutics, Inc., paving the way for litigation to proceed. Then, on December 8, 2021, Corcept disclosed in a filing with the U.S. Securities and Exchange Commission that “[o]n November 15, 2021, the Company received a records subpoena from the U.S. Attorney’s Office for the District of New Jersey pursuant to Section 248 of the Health Insurance Portability and Accountability Act of 1996 seeking information relating to the sale and promotion of Korlym, Corcept’s relationships with and payments to health care professionals who can prescribe or recommend Korlym and prior authorizations and reimbursement for Korlym.” Corcept further disclosed that “[t]he NJ USAO has informed Corcept that it is investigating whether any criminal or civil violations by Corcept occurred in connection with the matters referenced in the subpoena.” On this news, Corcept’s stock price fell $3.71 per share, or 16.91%, to close at $18.23 per share on December 8, 2021. Morris Kandinov is investigating Corcept regarding possible breaches of fiduciary duties and other violations of law on behalf of shareholders. To learn more about this investigation and your rights, visit: https://moka.law/case-contact-form/. Representation is contingency based, no out of pocket costs.
Concerned shareholders are encouraged to contact Leo Kandinov to learn more:
leo@moka.law
(619) 780-3993
moka.law
Morris Kandinov LLP is a national law firm that specializes in recovering investment losses and protecting stockholder rights. We work on contingency (i.e., you do not pay our fees out-of-pocket), and our attorneys have made substantial recoveries for investors in jurisdictions across the country. The firm would be happy to further discuss these matters, and any legal rights or remedies potentially available to you, at no charge.
Attorney Advertising. Past results do not guarantee a similar outcome.
Contact:
Leo Kandinov, Partner
leo@moka.law
619-780-3993
550 West B Street, 4th Floor
San Diego, CA 92101
moka.law
