NEW YORK, Feb. 11, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Natera, Inc. (NASDAQ: NTRA), Nuvei Corporation (NASDAQ: NVEI), ReneSola Ltd. (NYSE: SOL), and TaskUs, Inc. (NASDAQ: TASK). 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.
Natera, Inc. (NASDAQ: NTRA)
On January 1, 2022, an article from the New York Times called into question the accuracy of certain prenatal tests, alleging that positive results on tests are incorrect about 85 percent of the time, and that patients who receive a positive result are supposed to pursue follow-up testing, which “can cost thousands of dollars, come with a small risk of miscarriage and can’t be performed until later in pregnancy.”
On this news, Natera’s stock declined as much as 3.5% during intraday trading on January 3, 2022, thereby injuring investors.
For more information on the Natera investigation go to: https://bespc.com/cases/NTRA
Nuvei Corporation (NASDAQ: NVEI)
On December 8, 2021, Spruce Point Capital Management (“Spruce Point”) published a short-seller report on Nuvei. Citing “a forensic financial and accounting review,” the Spruce Point report alleged that Nuvei “has covered up a pattern of business failures, lack of organic growth, and a web of relationships with individuals connected to major Ponzi Schemes and alleged fraudulent activities[.]”
Following publication of the Spruce Point report, Nuvei’s stock price fell $39.38 or 40.45%, to close at $57.97 per share on December 8, 2021.
For more information on the Nuvei investigation go to: https://bespc.com/cases/NVEI
ReneSola Ltd. (NYSE: SOL)
The investigation focuses on ReneSola’s statements about its purported development, construction, operation, and sales of solar power projects in Europe. More specifically, ReneSola has repeatedly touted its increasing number of late-stage projects throughout Europe, which would soon be ready to sell project rights at “notice to proceed”, or “NTP.”
But, on December 2, 2021, analyst Grizzly Research published a scathing report entitled “We believe ReneSola is a Fraudulent Company; Most Projects Never Existed.” According to the report: (1) “[o]ur on the ground due diligence, filings review, and communications with local municipalities in Europe indicate SOL has been vastly misrepresenting its project development pipeline;” (2) “[m]ost of SOL's projects are in Europe, but our research indicates that most of these projects seemingly do not exist;” (3) “SOL might have fabricated projects to give the appearance of a better development pipeline and future economics;” and, (4) “[w]orse yet, SOL continuously categorizes projects as ‘late-stage’, and close to finalization, that our research shows to be either non-existent or delayed for years.”
On this news, ReneSola’s stock price fell $0.50 per share, or 7.62%, to close at $6.06 per share on December 2, 2021.
For more information on the ReneSola investigation go to: https://bespc.com/cases/SOL
TaskUs, Inc. (NASDAQ: TASK)
On January 20, 2022, Spruce Point Capital Management, LLC published a short-seller report on TaskUs. In the report, Spruce Point states, “After conducting a forensic financial and accounting review, Spruce Point believes shares of TaskUs, Inc. (Nasdaq: TASK), a highly promoted business process outsourcing (BPO) firm to digital and emerging technology companies, has a pattern of exaggerated and inflated business claims, including revenue, and is covering-up financial strain with reduced disclosures, cherry-picked market data, and non-standard key performance metrics.” trade at material valuation discounts as a result of being under-covered in the BPO
On this news, TaskUs’s stock fell $5.46, or 15.3%, to close at $30.13 per share on January 20, 2022, thereby injuring investors.
For more information on the TaskUs investigation go to: https://bespc.com/cases/TASK
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
