NEW YORK, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Lucid Group, Inc. (NASDAQ: LCID), Nuvei Corporation (NASDAQ: NVEI), Tecnoglass Inc. (NASDAQ: TGLS), and Everbridge, Inc. (NASDAQ: EVBG). 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.
Lucid Group, Inc. (NASDAQ: LCID)
On December 6, 2021, Lucid disclosed in a filing with the U.S. Securities and Exchange Commission (“SEC”) that “[o]n December 3, 2021, [Lucid] received a subpoena from the [SEC] requesting the production of certain documents related to an investigation by the SEC. Although there is no assurance as to the scope or outcome of this matter, the investigation appears to concern the business combination between the Company (f/k/a Churchill Capital Corp. IV) and Atieva, Inc. and certain projections and statements.”
On this news, Lucid’s stock price fell sharply during intraday trading on December 6, 2021.
For more information on the Lucid investigation go to: https://bespc.com/cases/LCID
Nuvei Corporation (NASDAQ: NVEI)
On December 8, 2021, Spruce Point Capital Management (“Spruce Point”) published a short-seller report on Nuvei. Citing “a forensic financial and accounting review,” the Spruce Point report alleged that Nuvei “has covered up a pattern of business failures, lack of organic growth, and a web of relationships with individuals connected to major Ponzi Schemes and alleged fraudulent activities[.]”
Following publication of the Spruce Point report, Nuvei’s stock price fell $39.38 or 40.45% percent, to close at $57.97 per share on December 8, 2021.
For more information on the Nuvei investigation go to: https://bespc.com/cases/NVEI
Tecnoglass Inc. (NASDAQ: TGLS)
On December 9, 2021, Hindenburg Research published a short-seller report on Tecnoglass, “Cocaine Cartel Connections, Undisclosed Family Deals, And Accounting Irregularities All In One Nasdaq SPAC.” Hindenburg Research detailed a series of alarming red flags about Tecnoglass. Specifically, the report stated, “Our months-long investigation has included review of US and Colombian court records, securities filings, corporate registrations, property records, export records and media reports going back decades. We have identified serious red flags regarding management and numerous undisclosed related party transactions that call the company’s reported financial results into question.”
Following this news, the price of Tecnoglass shares was down over 40% in early morning trading on December 9, 2021.
For more information on the Tecnoglass investigation go to: https://bespc.com/cases/TGLS
Everbridge, Inc. (NASDAQ: EVBG)
On December 9, 2021, after the market closed, Everbridge announced that CEO David Meredith resigned. Bloomberg reported analyst Stifel as stating, “[t]he timing and uncertainty around the circumstances of Mr. Meredith’s departure combined with the company's guidance introduces a high degree of uncertainty into the story” and that there are “more questions than answers at this point.”
Following this news, Everbridge shares fell $52.37 per share, over 45%, to close at $63 per share on December 10, 2021.
For more information on the Everbridge investigation go to: https://bespc.com/cases/EVBG
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
