NEW YORK, March 09, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against RBB Bancorp (NASDAQ: RBB), Amryt Pharma Plc (NASDAQ: AMYT), and Grab Holdings, Inc. (NASDAQ: GRAB). 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.
RBB Bancorp (NASDAQ: RBB)
On February 18, 2022, RBB Bancorp announced the abrupt departure of Tammy Song, the EVP and Chief Lending Officer of RBB Bancorp’s wholly owned subsidiary Royal Business Bank.
Four days later, on February 22, 2022, RBB Bancorp announced its President and CEO (Alan Thian) would take a leave of absence, effective immediately, pending an internal investigation being conducted by a special committee of the Company’s board of directors.
On this news, RBB Bancorp’s stock price declined by $2.69 per share, or approximately 10.45%, from $25.75 to $23.06 over two trading days.
For more information on the RBB Bancorp investigation go to: https://bespc.com/cases/RBB
Amryt Pharma Plc (NASDAQ: AMYT)
On February 28, 2022, Amryt Pharma issued a press release “announc[ing] it has received a Complete Response Letter (CRL) from the US Food and Drug Administration (FDA) regarding its New Drug Application (NDA) for Oleogel-S10, for the treatment of the cutaneous manifestations of Dystrophic and Junctional Epidermolysis Bullosa (EB)”. Amryt Pharma reported that “[t]he FDA communicated that it had completed its review of the application and has determined that the application cannot be approved in its present form” and “has asked Amryt to submit additional confirmatory evidence of effectiveness for Oleogel-S10 in EB.”
On this news, Amryt Pharma’s American Depositary Shares (“ADSs”) declined by $1.15 per ADS, or approximately 14.15%, from $8.13 per ADS to close at $6.98 per ADS on February 28, 2022.
For more information on the Amryt investigation go to: https://bespc.com/cases/AMYT
Grab Holdings, Inc. (NASDAQ: GRAB)
In December 2021, Grab Holdings went public through a merger with a SPAC called Altimeter Growth Corp., emphasizing the Company’s dramatic growth in the food delivery, digital payments, ride-hailing and financial services areas through its “super app.” The Company highlighted its huge opportunity to grow further in the firm’s core businesses in Southeast Asia and other regions.
But on March 3, 2022, the sustainability of Grab Holdings’ growth came into question when Grab Holdings announced its first quarterly earnings report as a public company for Q4 2021 (ended December 31, 2021). The results were dismal. The Company reported a 44% decline in Q4 revenue from the prior year’s quarter, and a whopping FY 2021 loss of $3.6 billion. Management blamed the results on the Company having to increase spending to offer higher commissions to attract drivers and greater incentives to users and partners.
On this news, Grab Holdings’ stock price declined by $1.95 per share, or approximately 37.3%, from $5.23 per share to close at $3.28 per share on March 3, 2022.
For more information on the Grab Holdings investigation go to: https://bespc.com/cases/GRAB
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
