NEW YORK, March 30, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Cortexyme, Inc. (NASDAQ: CRTX), Koppers Holdings, Inc. (NYSE: KOP), RBB Bancorp (NYSE: KOP), 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.
Cortexyme, Inc. (NASDAQ: CRTX)
On October 26, 2021, Cortexyme issued a press release “report[ing] top-line results from its Phase 2/3 GAIN Trial, a double-blind, placebo-controlled study evaluating the efficacy of atuzaginstat (COR388), an investigational orally administered small-molecule that targets gingipain proteases from the bacterium Porphyromonas gingivalis (P. gingivalis).” The press release reported, in relevant part, that the study had failed to meet statistical significance in its co-primary endpoints of improving cognitive and functional abilities in patients with mild-to-moderate Alzheimer’s disease. On this news, Cortexyme’s stock price fell $44.17 per share, or 76.58%, to close at $13.51 per share on October 27, 2021. Then, on January 26, 2022, Cortexyme disclosed receipt of a letter from the U.S. Food and Drug Administration ("FDA") advising that the FDA had “plac[ed] a full clinical hold on atuzaginstat’s (COR388) Investigational New Drug application (IND 134303).”
On this news, Cortexyme's stock price fell $2.85 per share, or 31.46% to close at $6.21 per share on January 26, 2022.
For more information on the Cortexyme investigation go to: https://bespc.com/cases/CRTX
Koppers Holdings, Inc. (NYSE: KOP)
On February 23, 2022, Koppers disclosed that the U.S. Securities and Exchange Commission was conducting an investigation “into the Company’s public non-GAAP financial metrics disclosures regarding the Company’s debt reduction target and net leverage ratio for Fiscal Year 2019 and the related management of its accounts payable.” Koppers’ Chief Executive Officer and other current and former officers and employees had received subpoenas for information and testimony pursuant to a formal order of investigation dated February 14, 2021.
For more information on the Koppers investigation go to: https://bespc.com/cases/KOP
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
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
