NEW YORK, Sept. 05, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire is investigating certain officers and directors of MGT Capital Investments (Other OTC: MGTI), First American Financial Corporation (NYSE: FAF), Immunomedics, Inc. (NASDAQ: IMMU), and AAC Holdings, Inc. (NYSE: AAC) on behalf of long-term stockholders. More information about each potential case can be found at the link provided.
MGT Capital Investments, Inc. (Other OTC: MGTI)
Bragar Eagel and Squire is investigating certain officers and directors of MGT Capital Investments following a class action complaint that was filed against MGT Capital on October 9, 2018.
The complaint alleges that throughout the class period, defendants made materially false and misleading statements regarding the company's business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) defendants were engaged in an illegal pump-and-dump scheme to artificially inflate MGT Capital's stock price; (2) the scheme defendants had a history of engaging in illegal conduct in connection with the purchase and sale of securities; (3) the scheme defendants were a "group", pursuant to Section 13 of the Exchange Act; (4) the scheme defendants exercised control over the Company; (5) the Company's acquisition of D-Vasive Inc. was part of defendants' illegal pump-and-dump scheme to artificially inflate MGT Capital's stock price; (6) defendants' illicit scheme caused MGT Capital to make false and misleading statements, which would result in governmental and regulatory scrutiny; (7) the scheme would result in the delisting of MGT Capital's stock from NYSE MKT; and (8) as a result, defendants' statements about MGT Capital's business and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
To learn more about our investigation into MGT go to: https://bespc.com/mgti-2
First American Financial Corporation (NYSE: FAF)
Bragar Eagel and Squire is investigating certain officers and directors of First American Financial Corporation following a data leak.
On May 24, 2019, Brian Krebs of krebsonsecurity.com published a report alleging that First American may have allowed unauthorized access to more than 885 million records related to mortgage deals going back to 2003. According to the report, First American said that it learned of a “design defect in one of its production applications that made possible unauthorized access to customer data” and has shut down external access.
On this news, First American’s share price fell by more than 6%, closing at $51.80 per share on May 28, 2019.
For more information on our investigation into First American Financial go to: https://bespc.com/FAF
Immunomedics, Inc. (NASDAQ: IMMU)
Bragar Eagel and Squire is investigating certain officers and directors of Immunomedics following a class action complaint that was filed against Immunomedics on December 27, 2018.
The complaint alleges that between August 23, 2018 and December 20, 2018, inclusive (the "Class Period"), defendants made false and/or misleading statements, as well as failed to disclose material adverse facts. As alleged in the Complaint, on December 17, 2018, FDAnews.com published an article titled "FDA Hits Immunomedics for Data Integrity Breach." According to this article, "[t]he FDA cited Immunomedics for a host of violations - including its handling of a data integrity breach - observed at its Morris Plains, New Jersey, drug substance manufacturing facility between August 6 and 14." The article states that this breach included "manipulated bioburden samples, misrepresentation of an integrity test procedure in the batch record, and backdating of batch records, such as dates of analytical results." Following this news, Immunomedics stock price dropped from $17.64 at close on December 19, 2018, to $14.17 at close on December 20, 2018.
To learn more about our investigation into Immunomedics, go to: https://bespc.com/immu-3
AAC Holdings, Inc. (NYSE: AAC)
Bragar Eagel and Squire is investigating certain officers and directors of AAC Holdings, Inc. following a class action complaint that was filed against AAC Holdings on May 16. 2019.
The complaint alleges that throughout the class period, defendants made materially false and misleading statements regarding the company's business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) AAC's internal control over financial reporting and disclosure controls and procedures was inadequate to accurately reflect adjustments related to estimates for accounts receivable, provision for doubtful accounts, and revenue; (ii) AAC consequently misstated financial and operating results in its annual reports for fiscal years 2016 and 2017, as well as all quarterly reports throughout 2017 and 2018; (iii) accordingly, those reports could not be relied upon, requiring AAC to restate the financial and operating results reflected therein; and (iv) as a result, the company's public statements were materially false and misleading at all relevant times.
For more information on our investigation into AAC Holdings go to: https://bespc.com/aacholdings/
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com