NEW YORK, March 20, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against RBB Bancorp (NASDAQ: RBB), Amryt Pharma Plc (NASDAQ: AMYT), Cano Health, Inc. (NYSE: CANO), and SelectQuote, Inc. (NYSE: SLQT). 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.
RBB Bancorp (NASDAQ: RBB)
On February 18, 2022, RBB Bancorp announced the abrupt departure of Tammy Song, the EVP and Chief Lending Officer of RBB Bancorp’s wholly owned subsidiary Royal Business Bank.
Four days later, on February 22, 2022, RBB Bancorp announced its President and CEO (Alan Thian) would take a leave of absence, effective immediately, pending an internal investigation being conducted by a special committee of the Company’s board of directors.
On this news, RBB Bancorp’s stock price declined by $2.69 per share, or approximately 10.45%, from $25.75 to $23.06 over two trading days.
For more information on the RBB Bancorp investigation go to: https://bespc.com/cases/RBB
Amryt Pharma Plc (NASDAQ: AMYT)
On February 28, 2022, Amryt Pharma issued a press release “announc[ing] it has received a Complete Response Letter (CRL) from the US Food and Drug Administration (FDA) regarding its New Drug Application (NDA) for Oleogel-S10, for the treatment of the cutaneous manifestations of Dystrophic and Junctional Epidermolysis Bullosa (EB)”. Amryt Pharma reported that “[t]he FDA communicated that it had completed its review of the application and has determined that the application cannot be approved in its present form” and “has asked Amryt to submit additional confirmatory evidence of effectiveness for Oleogel-S10 in EB.”
On this news, Amryt Pharma’s American Depositary Shares (“ADSs”) declined by $1.15 per ADS, or approximately 14.15%, from $8.13 per ADS to close at $6.98 per ADS on February 28, 2022.
For more information on the Amryt investigation go to: https://bespc.com/cases/AMYT
Cano Health, Inc. (NYSE: CANO)
On February 28, 2022, Cano issued a press release “announc[ing] it will delay its fourth quarter and full year 2021 earnings release, conference call and 2022 guidance updates, previously scheduled for Monday, February 28, 2022.”
Cano stated that it “currently anticipates filing a Form 12b-25, Notification of Late Filing, no later than March 2, 2022, which will provide the Company with a 15-day calendar extension to file its Form 10-K” and “expects to report fourth quarter and full year 2021 earnings, as well as increased full year 2022 guidance, on or before March 16, 2022, the expiration date of the extension period.”
On this news, Cano’s stock price fell $0.32 per share, or 6.17%, to close at $4.87 per share on February 28, 2022.
For more information on the Cano investigation go to: https://bespc.com/cases/CANO
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
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
