NEW YORK, Feb. 13, 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 Shattuck Labs, Inc. (NASDAQ: STTK), Electric Last Mile Solutions (NASDAQ: ELMS), and New Oriental Education & Technology Group, Inc. (NYSE: EDU). 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.
Shattuck Labs, Inc. (NASDAQ: STTK)
Class Period: October 9, 2020 IPO; October 9, 2020 – November 9, 2021
Lead Plaintiff Deadline: April 1, 2022
According to the lawsuit, the materials supporting the IPO and defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Collaboration Agreement with Takeda was not solid; (2) Takeda and Shattuck would “mutually agree” to terminate the Collaboration Agreement in essentially one year; (3) as a result, Shattuck would cease to receive any future milestone, royalty, or other payments from Takeda; and (4) as a result, defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on the Shattuck Labs class action go to: https://bespc.com/cases/STTK
Electric Last Mile Solutions (NASDAQ: ELMS)
Class Period: Mach 31, 2021 – February 1, 2022
Lead Plaintiff Deadline: April 4, 2022
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) ELMS’s previously issued financial statements were false and unreliable; (2) ELMS’s earlier reported financial statements would need restatement; (3) certain ELMS executives and/or directors purchased equity in the Company at substantial discounts to market value without obtaining an independent valuation; (4) on November 25, 2021 (Thanksgiving), the Company’s Board formed an independent Special Committee to conduct an inquiry into certain sales of equity securities made by and to individuals associated with the Company; and (5) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on the Electric Last Mile class action go to: https://bespc.com/cases/ELMS
New Oriental Education & Technology Group, Inc. (NYSE: EDU)
Class Period: April 24, 2018 – July 22, 2021
Lead Plaintiff Deadline: April 5, 2022
The Complaint alleges that the Defendants made materially false and misleading statements because they misrepresented and failed to disclose adverse facts about New Oriental’s business, operations and prospects, which were known to defendants or recklessly disregarded by them, as follows: (a) that New Oriental’s revenue and operational growth was the result of deceptive marketing tactics and abusive business practices that flouted Chinese regulations and policies and exposed the Company to an extreme risk that more draconian measures would be imposed on the Company; (b) that New Oriental had engaged in misleading and fraudulent advertising practices, including the provision of false and misleading discount information designed to obfuscate the true cost of the Company's programs to its customers; (c) that New Oriental had falsified teacher qualifications and experience in order to attract customers and increase student enrollments; (d) that New Oriental had defied prior government warnings against linking school enrollments with the provision of private tutoring services; (e) that, as a result of the foregoing, New Oriental was subject to an extreme undisclosed risk of adverse enforcement actions, regulatory fines and penalties, and the imposition of new rules and regulations adverse to the Company's business and interests; (f) that the new rules, regulations and policies to be implemented by the Chinese government following the Two Sessions parliamentary meetings were far more severe than represented to investors by defendants and in fact posed an existential threat to the Company and its business; and (g) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and lacked a reasonable factual basis. Additionally, as defendants knew or recklessly disregarded, New Oriental's annual reports misleadingly failed to include information required by SEC rules and regulations.
For more information on the New Oriental Education class action go to: https://bespc.com/cases/EDU
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
