NEW YORK, Feb. 02, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Meta Materials, Inc. (NASDAQ: MMAT), Paysafe Limited (NYSE: PSFE), Organogenesis Holdings, Inc. (NASDAQ: ORGO), and Marathon Digital Holdings, Inc. (NASDAQ: MARA). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Meta Materials, Inc. (NASDAQ: MMAT)
Class Period: September 21, 2020 – December 14, 2021
Lead Plaintiff Deadline: March 4, 2022
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) the business combination of Torchlight Energy Resources, Inc. and Metamaterial Inc. would result in an SEC investigation and subpoena in the matter captioned In the Matter of Torchlight Energy Resources, Inc.; (2) the Company has materially overstated its business connections and dealings; (3) the Company has materially overstated its ability to produce and commercialize its products; (4) the Company has materially overstated its products’ novelty and capabilities; (5) the Company’s products did not have the potential to be disruptive because, among other things, the Company priced its products too high; and (6) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
On this news, Meta’s stock fell $0.18 per share, or 5.83%, to close at $2.91 per share on December 14, 2021, thereby injuring investors further.
For more information on the Meta Materials class action go to: https://bespc.com/cases/MMAT
Paysafe Limited (NYSE: PSFE)
Class Period: December 7, 2020 – November 10, 2021
Lead Plaintiff Deadline: February 8, 2022
On March 30, 2021, Paysafe became a public entity via business combination with FTAC.
Then, on November 11, 2021, before the market opened, Paysafe announced that it was revising its revenue guidance for the full year 2021 downward from a range of $1,530 – $1,550 million to a range of $1,470 – $1,480 million. Paysafe attributed the revision to "[g]ambling regulations and softness in key European markets and performance challenges impacting the Digital Wallet segment" and "[t]he modified scope and timing of new eCommerce customer agreements relative to the Company’s original expectations for these agreements."
On this news, the Company’s share price fell $3.03 per share, or more than 40%, to close at $4.24 per share on November 11, 2021, on unusually heavy trading volume.
The complaint filed in this class action alleges that throughout the Class Period, 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 that: (1) that Paysafe was being negatively impacted by gambling regulations in key European markets; (2) that Paysafe was encountering performance challenges in its Digital Wallet segment; (3) that new eCommerce customer agreements were being pushed back; 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.
For more information on the Paysafe class action go to: https://bespc.com/cases/PSFE
Organogenesis Holdings, Inc. (NASDAQ: ORGO)
Class Period: March 17, 2021 – October 11, 2021
Lead Plaintiff Deadline: February 8, 2022
On October 12, 2021, Value Investors Club issued a report alleging issues at Organogenesis Holdings, Inc., indicating that the wound care medical company has been improperly billing the federal government for $250 million annually. The Company also set the price for its new wound covering, Affinity, “exorbitantly high,” which Medicare reimbursed, while making the product lucrative for doctors to use through large rebates.
On this news, shares of Organogenesis fell over 18% in intraday trading on October 12, 2021.
For more information on the Organogenesis class action go to: https://bespc.com/cases/ORGO
Marathon Digital Holdings, Inc. (NASDAQ: MARA)
Class Period: October 30, 2020 – November 15, 2021
Lead Plaintiff Deadline: February 15, 2022
Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Beowulf Joint Venture, as it related to the Hardin Facility, implicated potential regulatory violations, including U.S. securities law violations; (ii) as a result, the Beowulf Joint Venture subjected Marathon to a heightened risk of regulatory scrutiny; (iii) the foregoing was reasonably likely to have a material negative impact on the Company’s business and commercial prospects; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On November 15, 2021, Marathon disclosed that “the Company and certain of its executives received a subpoena to produce documents and communications concerning the Hardin, Montana data center facility[,]” and advised that “the SEC may be investigating whether or not there may have been any violations of the federal securities law.”
On this news, Marathon’s stock price fell $20.52 per share, or 27.03%, to close at $55.40 per share on November 15, 2021.
For more information on the Marathon Digital class action go to: https://bespc.com/cases/MARA
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
