NEW YORK, Nov. 02, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating certain officers and directors of Lordstown Motors Corp. (NASDAQ: RIDE), EQT Corporation (NYSE: EQT), Aterian, Inc. (NASDAQ: ATER), and Franklin Wireless Corp. (NASDAQ: FKWL) on behalf of long-term stockholders. More information about each potential case can be found at the link provided.
Lordstown Motors Corp. (NASDAQ: RIDE)
Bragar Eagel & Squire is investigating certain officers and directors of Lordstown Motors Corp. following a class action complaint that was filed against Lordstown on March 18, 2021.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s purported pre-orders were non-binding; (ii) many of the would-be customers who made these purported pre-orders lacked the means to make such purchases and/or would not have credible demand for Lordstown’s Endurance; (iii) Lordstown is not and has not been “on track” to commence production of the Endurance in September 2021; (iv) the first test run of the Endurance led to the vehicle bursting into flames within 10 minutes; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
To learn more about our investigation into Lordstown go to: https://bespc.com/cases/RIDE
EQT Corporation (NYSE: EQT)
Bragar Eagel & Squire is investigating certain officers and directors of EQT Corporation following a class action complaint that was filed against EQT on June 25, 2019.
The Complaint alleges that during the Class Period, Defendants falsely stated that EQT’s acquisition of Rice, a rival gas producer, would yield billions of dollars in synergies based on purported operational benefits. Specifically, on June 19, 2017, Defendants announced that EQT had entered into an agreement to acquire Rice for $6.7 billion. Defendants represented that because Rice had an acreage footprint largely contiguous to EQT’s existing acreage, the acquisition would allow EQT to achieve “a 50% increase in average lateral [drilling] lengths” (as opposed to more traditional vertical well drilling). EQT claimed that as a result, the merger would result in $2.5 billion in synergies, including $100 million in cost savings in 2018 alone.
To learn more about our investigation into EQT go to: https://bespc.com/cases/EQT
Aterian, Inc. (NASDAQ: ATER)
Bragar Eagel & Squire is investigating certain officers and directors of Aterian, Inc. following a class action complaint that was filed against Aterian on May 13, 2021.
The complaint alleges that, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Aterian’s organic growth is plummeting; (2) Aterian’s recent, self-lauded acquisitions were overpayments for flawed assets from questionable sources; (3) Aterian’s purported artificial intelligence software is a flawed product that lacks customer interest; (4) Aterian uses rebate programs and paid or artificial reviews to pump up their product offerings; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times.
To learn more about our investigation into Aterian go to: https://bespc.com/cases/ATER
Franklin Wireless Corp. (NASDAQ: FKWL)
Bragar Eagel & Squire is investigating certain officers and directors of Franklin Wireless Corp. following a class action complaint that was filed against Franklin Wireless on April 16, 2021.
The complaint alleges that, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Franklin’s hotspot devices suffered from battery issues, including overheating, thereby presenting a fire hazard; (2) that, as a result, it was reasonably likely that the Company’s customers would recall Franklin’s devices; (3) that, as a result, Franklin would suffer reputational harm; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
To learn more about our investigation into Franklin Wireless go to: https://bespc.com/cases/FKWL
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
