NEW YORK, July 25, 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), Cassava Sciences, Inc. (NASDAQ: SAVA), and Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI). 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
Cassava Sciences, Inc. (NASDAQ: SAVA)
On April 18, 2022, The New York Times published an article entitled “Scientists Question Data Behind an Experimental Alzheimer’s Drug.” The article addressed Cassava’s experimental Alzheimer’s drug, simufilam, and reported that one of Cassava’s advisers, Dr. H.Y. Wang, had five papers he authored retracted from the scientific journal PLoS One after an in-depth investigation revealed “serious concerns about the integrity and the reliability of the results.”
On this news, Cassava’s stock price fell sharply during intraday trading on April 19, 2022.
For more information on the Cassava investigation go to: https://bespc.com/cases/SAVA
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI)
On July 12, 2022, market analyst Muddy Waters Research published a report titled “HASI: ‘ESG’ Is for Exaggerating, Scamming, and Grifting,” which alleged several issues with Hannon Armstrong’s financial statements, summarizing the alleged issues as “HASI misleadingly inflates GAAP earnings three ways: 1) through a loophole in the arcana of accounting for renewables subsidies, HASI books non-cash unrealizable income relating to third parties’ tax credits that will be reversed; 2) HASI produces non-cash income by manipulating the discount rate it applies to residual assets to implausibly low levels, thereby inflating its gains on securitizations; and, 3) HASI books interest income from non-cash ‘Paid in Kind’ (‘PIK’) interest payments, which are essentially IOUs from stressed borrowers.”
On this news, Hannon Armstrong’s stock price fell $6.92 per share, or 19%, to close at $29.41 per share on July 12, 2022, on unusually heavy trading volume, damaging investors.
For more information on the Hannon Armstrong investigation go to: https://bespc.com/cases/HASI
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
