NEW YORK, Feb. 18, 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 Clarivate Plc (NYSE: CLVT), Bumble, Inc. (NASDAQ: BMBL), Standard Lithium Ltd. (NYSEAMERICAN: SLI), and Shattuck Labs, Inc. (NASDAQ: STTK). 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.
Clarivate Plc (NYSE: CLVT)
Class Period: February 26, 2021 – December 27, 2021
Lead Plaintiff Deadline: March 25, 2022
Clarivate is an information services and analytics company that provides structured information and analytics for discovery, protection, and commercialization of scientific research, innovations, and brands.
On December 27, 2021, Clarivate disclosed in a filing with the U.S. Securities and Exchange Commission that “[o]n December 22, 2021, Clarivate . . . concluded that the financial statements previously issued as of and for the year ended December 31, 2020, and the quarterly periods ended March 31, 2021, June 30, 2021, and September 30, 2021, should no longer be relied upon because of an error in such financial statements[.]” Specifically, Clarivate reported that “[t]he error relates to the treatment under U.S. generally accepted accounting principles (‘GAAP’) relating to an equity plan included in the CPA Global business combination which was consummated on October 1, 2020 (‘the CPA Global Transaction’). In the affected financial statements, certain awards made by CPA Global under its equity plan were incorrectly included as part of the acquisition accounting for the CPA Global Transaction.”
On this news, Clarivate’s stock price declined by $1.70 per share, or approximately 6.92%, from $23.58 per share to close at $22.88 per share on December 28, 2021.
For more information on the Clarivate investigation go to: https://bespc.com/cases/CLVT
Bumble, Inc. (NASDAQ: BMBL)
Class Period: September 10, 2021 SPO
Lead Plaintiff Deadline: March 25, 2022
According to the lawsuit, the SPO’s registration statement contained inaccurate statements of material fact because it failed to disclose that: (1) Bumble’s paying user growth trends had abruptly reversed in 3Q21 and Bumble had actually lost tens of thousands of paying users during the quarter; (2) paying users had been more reluctant to sign up for the Bumble app during 3Q21 because of the recent price hike for paid services on the app; (3) a material number of paying users were leaving the Badoo app and/or could not make payments through the Badoo app due, in substantial part, to problems arising from Bumble’s transition of its payment platform; and (4) as a result, Bumble’s business metrics and financial prospects were not as strong as the registration statement had represented. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on the Bumble class action go to: https://bespc.com/cases/BMBL
Standard Lithium, Inc. (NYSEAMERICAN: SLI)
Class Period: May 19, 2020 – November 17, 2021
Lead Plaintiff Deadline: March 28, 2022
Standard Lithium explores for, develops, and processes lithium brine properties in the U.S. The Company’s flagship project is the Lanxess project with approximately 150,000 acres of brine leases located in south-western Arkansas.
On May 19, 2020, Standard Lithium announced the successful start-up of the Company's industrial-scale Direct Lithium Extraction Demonstration Plant at Lanxess’s South Plant facility in southern Arkansas (the “Demonstration Plant”), a purportedly “first-of-its-kind plant” using Standard Lithium's proprietary LiSTR Direct Lithium Extraction (“LiSTR”) technology. According to the Company, one of the key features of the LiSTR technology was that it increased lithium recovery efficiencies to more than 90%.
The complaint alleges that 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 LiSTR technology's extraction recovery efficiencies were overstated; (ii) accordingly, the Company's final product lithium recovery percentage at the Demonstration Plant would not be as high as the Company had represented to investors; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
On November 18, 2021, Blue Orca Capital published a short report (the “Blue Orca Report” or the “Report”) alleging that Standard Lithium's claims of achieving of 90% extraction rates of battery grade lithium at its Arkansas demonstration site are not supported by previously undisclosed data filed by the Company with the state regulator, which indicated significantly lower recovery rates.
Following publication of the Blue Orca Report, Standard Lithium’s common share price fell $1.86 per share, or 18.84%, to close at $8.01 per share on November 18, 2021.
For more information on the Standard Lithium investigation go to: https://bespc.com/cases/SLI
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
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
