NEW YORK, July 15, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Enochian Biosciences, Inc. (NASDAQ: ENOB), Corcept Therapeutics, Inc. (NASDAQ: CORT), Rollins, Inc. (NYSE: ROL), and Target Corporation (NYSE: TGT). 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.
Enochian Biosciences, Inc. (NASDAQ: ENOB)
On May 25, 2022, the United State Attorney's Office for the District of Vermont, announced that the co-founder of Enochian was arrested Wednesday following a two-year investigation into a man who was kidnapped and found dead in January 2018. Dr. Serhat Gumrukcu is being charged with conspiring to use interstate commerce facilities in the commission of murder-for-hire, which resulted in the death of Gregory Davis, a resident of Vermont.
On this news, Enochian’s stock fell $2.17, or 37%, to close at $3.70 per share on May 25, 2022.
Dr. Gumrukcu sold 253,493 shares of Enochian stock on May 18, 2022, for a total value of over $2 million.
For more information on the Enochian investigation go to: https://bespc.com/cases/ENOB
Corcept Therapeutics, Inc. (NASDAQ: CORT)
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 (the ‘NJ USAO’) pursuant to Section 248 of the Health Insurance Portability and Accountability Act of 1996 (HIPAA) 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.
For more information on the Corcept investigation go to: https://bespc.com/cases/CORT
Rollins, Inc. (NYSE: ROL)
On October 28, 2020, Rollins disclosed a U.S. Securities and Exchange Commission (“SEC”) investigation into how the Company established accruals and reserves at period-end and the impact of those accruals and reserves on reported earnings for periods beginning January 1, 2015. The Company's subsequently filed Annual Report later disclosed the results of an internal Company-initiated investigation that found a significant deficiency in the Company's internal controls relating to the documentation and review of accounting entries for certain reserves and accruals. Then, on October 29, 2021, Rollins reported that it had initiated discussions with the SEC staff regarding a potential investigation resolution.
For more information on the Rollins investigation go to: https://bespc.com/cases/ROL
Target Corporation (NYSE: TGT)
On May 18, 2022, before trading hours, Target announced its first quarter 2022 financial results in a press release. The Company also provided guidance, expecting second quarter 2022 “operating income margin rate [to] be in a wide range centered around first quarter’s operating margin rate of 5.3 percent.”
On this news, Target’s stock price fell $53.67 per share, or over 25%, to close at $161.61 per share on May 18, 2022, on unusually heavy trading volume.
Then, just three weeks later, on June 7, 2022, before trading hours, Target revised its guidance, expecting the second quarter 2022 operating margin rate to “be in a range around 2%.” The Company attributed the change to “a set of actions to right-size [Target’s] inventory for the balance of the year[.]”
On this news, Target’s stock fell $3.69, or 2.3%, to close at $155.98 per share on June 7, 2022.
For more information on the Target investigation go to: https://bespc.com/cases/TGT
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.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
