NEW YORK, March 14, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against SelectQuote, Inc. (NYSE: SLQT), Porch Group, Inc. (NASDAQ: PRCH), and Virgin Galactic Holdings, Inc. (NYSE: SPCE). 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.
SelectQuote, Inc. (NYSE: SLQT)
On February 7, 2022, SelectQuote reported its financial results for the second quarter of fiscal year 2022. Among other items, SelectQuote reported a quarterly loss of $0.84 per share and a 45% year-over-year revenue decline. The Company's Chief Executive Officer Tim Danker attributed the shortfall to “unexpected challenges” in SelectQuote’s Medicare Advantage business. In addition, SelectQuote updated its 2022 guidance to forecast a net loss of $255 million to $236 million.
On this news, SelectQuote’s stock price fell $2.99 per share, or 45.79%, to close at $3.54 per share on February 8, 2022.
For more information on the SelectQuote investigation go to: https://bespc.com/cases/SLQT
Porch Group, Inc. (NASDAQ: PRCH)
Porch Group is a vertical software platform for the home, providing software and services to home services companies.
On March 1, 2022, after the market closed, Porch Group disclosed that it could not timely file its 2021 annual report. The Company also disclosed that it had identified material weaknesses in its internal control over financial reporting.
On this news, Porch Group’s stock declined by $0.87 per share, or approximately 12%, from $7.28 per share to close at $6.41 per share on March 2, 2022.
For more information on the Porch Group investigation go to: https://bespc.com/cases/PRCH
Virgin Galactic Holdings, Inc. (NYSE: SPCE)
On March 2, 2022, news outlets reported on the filing of a shareholder lawsuit alleging that former Virgin Galactic chairman Chamath Palihapitiya took advantage of his insider role at the Company to sell some 10 million shares of stock for $315 million before abruptly resigning from the Company’s Board of Directors in February 2022.
On this news, Virgin Galactic’s stock price fell $1.17 per share, or 12.42%, to close at $8.25 per share on March 3, 2022.
For more information on the Virgin Galactic investigation go to: https://bespc.com/cases/SPCE
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
