NEW YORK, Feb. 07, 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 Instadose Pharma Corp. (OCTMKTS: INSD), KE Holdings (NYSE: BEKE), Meta Materials, Inc. (NASDAQ: MMAT), and Bright Health Group, Inc. (NYSE: BHG). 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.
Instadose Pharma Corp. (OCTMKTS: INSD)
Class Period: December 8, 2020 – November 24, 2021
Lead Plaintiff Deadline: February 28, 2022
On November 23, 2021, the U.S. Securities and Exchange Commission (“SEC”) announced a temporary suspension in the trading of Instadose securities due to concerns regarding the adequacy and accuracy of information about the Company in the marketplace. The SEC specifically noted stock price and volume increases of Instadose stock unsupported by the Company’s assets and financial information, trading that may be associated with individuals related to a control person at the Company, and operations at the Company’s Canadian affiliate. On this news, the Company’s share price declined by $3.69 per share, or approximately 13%, from $28.30 per share to close at $24.61 per share on November 23, 2021, which was immediately before trading was halted.
On December 9, 2021, when the Company’s securities resumed trading, the stock price opened and closed at $2.00 per share.
For more information on the Instadose class action go to: https://bespc.com/cases/INSD
KE Holdings (NYSE: BEKE)
Class Period: August 13, 2020 – December 16, 2021
Lead Plaintiff Deadline: February 28, 2022
The action arises out of the Company’s misstatements materially overstating its store count, agent counsel, new home sales gross transaction value (“GTF”), and revenues. The complaint alleges that defendants made materially false and misleading statements and omissions, and engaged in a scheme to deceive the market. The trust began to come to light when Muddy Waters Capital LLC, a research based equity investor, revealed that KE Holdings was overstating the agents and stores on its platforms, its GTV, and its revenues, among other wrongdoing. These misstatements artificially inflated the price of KE Holdings’ ADS and operated as a fraud or deceit on the Class. When the truth was revealed, the Company’s ADS price fells substantially and has continued falling since.
For more information on the KE Holdings class action go to: https://bespc.com/cases/BEKE
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
Bright Health Group, Inc. (NYSE: BHG)
Class Period: June 24, 2021 IPO; June 24, 2021 – November 10, 2021
Lead Plaintiff Deadline: March 7, 2022
In June 2021, Bright Health completed its initial public offering (“IPO”), selling approximately 51 million shares of common stock for $18.00 per share.
On November 11, 2021, Bright Health reported its third quarter financial results, revealing earnings per share (“EPS”) of -$0.48 as calculated under U.S. generally accepted accounting principles (“GAAP”), missing consensus estimates by $0.31. The Company also reported a sharp rise in the Company’s medical cost ratio (“MCR”), advising investors that its MCR “for the third quarter of 2021 was 103.0%, including a 540 basis point unfavorable impact from COVID-19 related costs and a 900 basis point unfavorable impact primarily from a cumulative reduction in premium revenue due to an inability to capture risk adjustment on newly added lives.”
On this news, Bright Health’s stock fell $2.36, or 32%, to close at $4.94 per share on November 11, 2021, thereby injuring investors.
For more information on the Bright Health class action go to: https://bespc.com/cases/BHG
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
