NEW YORK, Jan. 17, 2022 (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 Exicure, Inc. (NASDAQ: XCUR), Sleep Number Corporation (NASDAQ: SNBR), Marathon Digital Holdings, Inc. (NASDAQ: MARA), and Redwire Corporation (NYSE: RDW). 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.
Exicure, Inc. (NASDAQ: XCUR)
Class Period: March 11, 2021 – November 15, 2021
Lead Plaintiff Deadline: February 11, 2022
On November 15, 2021, after the market closed, Exicure filed a Form 12b-25 with the SEC stating that it could not timely file its quarterly report for the period ended September 30, 2021. It explained that the Company was investigating “a claim made by a former Company senior researcher regarding alleged improprieties that researcher claims to have committed with respect to the Company’s XCUR-FXN preclinical program for the treatment of Friedreich’s ataxia.”
On this news, the Company’s stock price fell $0.30, or 28%, to close at $1.07 per share on November 16, 2021, on unusually heavy trading volume.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that there had been certain improprieties in Exicure’s preclinical program for the treatment of Friedreich’s ataxia; (2) that, as a result, there was a material risk that data from the preclinical program would not support continued clinical development; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
For more information on the Exicure class action go to: https://bespc.com/cases/XCUR
Sleep Number Corporation (NASDAQ: SNBR)
Class Period: February 18, 2021 – July 20, 2021
Lead Plaintiff Deadline: February 14, 2022
On April 21, 2021, Sleep Number released its first quarter 2021 financial results, missing consensus sales estimates as a result of supply chain disruptions due to Winter Storm Uri in February 2021. Specifically, "more than $50 million of deliveries (two weeks) shifted out of the quarter due to temporary foam supply constraints," representing nearly 9% of the Company’s entire sales for the quarter.
On this news, Sleep Number’s stock fell $14.80, or 12%, to close at $110.13 per share on April 22, 2021, thereby injuring investors.
Then, on July 20, 2021, Sleep Number released its second quarter 2021 financial results. Once again, the results missed consensus estimates, which the Company blamed on supply constraints and component shortages.
On this news, Sleep Number’s stock fell $14.46, or 12.88%, to close at $97.78 per share on July 21, 2021, thereby injuring investors further.
For more information on the Sleep Number class action go to: https://bespc.com/cases/SNBR
Marathon Digital Holdings, Inc. (NASDAQ: MARA)
Class Period: October 30, 2020 – November 15, 2021
Lead Plaintiff Deadline: February 15, 2022
Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Beowulf Joint Venture, as it related to the Hardin Facility, implicated potential regulatory violations, including U.S. securities law violations; (ii) as a result, the Beowulf Joint Venture subjected Marathon to a heightened risk of regulatory scrutiny; (iii) the foregoing was reasonably likely to have a material negative impact on the Company’s business and commercial prospects; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On November 15, 2021, Marathon disclosed that “the Company and certain of its executives received a subpoena to produce documents and communications concerning the Hardin, Montana data center facility[,]” and advised that “the SEC may be investigating whether or not there may have been any violations of the federal securities law.”
On this news, Marathon’s stock price fell $20.52 per share, or 27.03%, to close at $55.40 per share on November 15, 2021.
For more information on the Marathon Digital class action go to: https://bespc.com/cases/MARA
Redwire Corporation (NYSE: RDW)
Class Period: August 11, 2021 – November 14, 2021
Lead Plaintiff Deadline: February 15, 2022
On November 10, 2021, Redwire announced that it would postpone the release of its third quarter earnings results. The Company "was notified by an employee of potential accounting issues at a business subunit," and the Audit Committee was investigating the allegations.
On this news, Redwire’s stock price fell $1.92, or 16%, to close at $9.99 per share on November 10, 2021, on unusually heavy trading volume.
Then, on November 15, 2021, Redwire stated that it could not timely file its quarterly report for the period ended September 30, 2021. Due to the pending investigation into the accounting issues at a business subunit, "the Company has not been able to finalize its financial statements or its assessment of the effectiveness of its disclosure controls and procedures and any impact" on the report.
On this news, Redwire’s stock price fell $0.93, or 8.3%, over two consecutive trading sessions to close at $10.32 per share on November 16, 2021, on unusually heavy trading volume.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) that there were accounting issues at one of Redwire’s subunits; (2) that, as a result, there were additional material weaknesses in Redwire’s internal control over financial reporting; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
For more information on the Redwire class action go to: https://bespc.com/cases/RDW
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
