NEW YORK, July 10, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Allianz SE (OTCMKTS: ALIZY) TrueBlue, Inc. (NYSE: TBI), and GoodRx Holdings, Inc. (NASDAQ: GDRX). 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.
Allianz SE (OTCMKTS: ALIZY)
On August 1, 2021, Allianz disclosed that “the U.S. Department of Justice (‘DOJ’) has begun an investigation concerning the Structured Alpha Funds,” and that “there is a relevant risk that the matters relating to the Structured Alpha Funds could materially impact future financial results of Allianz Group.”
On this news, Allianz’s stock price fell $2.00 per share, or 8%, to close at $22.85 per share on August 2, 2021.
Then, on May 17, 2022, Allianz pleaded guilty to securities fraud, admitting that it lacked internal controls and oversight for a series of private-investment funds and made false and misleading statements to investors. The Company agreed to pay $6 billion in penalties and restitution.
On this news, Allianz’s stock price fell $4.54 per share, or 2.1%, to close at $208.00 on May 18, 2022.
For more information on the Allianz investigation go to: https://bespc.com/cases/ALIZY
TrueBlue, Inc. (NYSE: TBI)
TrueBlue issued a press release during trading hours on June 15, 2022 “announc[ing]… that Patrick Beharelle has resigned as Chief Executive Officer and as a member o the Board of Directors of TrueBlue, effective June 14, 2022.” The Company stated that “Mr. Beharelle’s resignation follows an investigation, led by outside counsel, into allegations regarding his conduct. Based on the investigation’s findings, the Board of Directors determined that he engaged in behaviors that violated TrueBlue’s policies and Code of Conduct. Mr. Beharelle’s conduct in question was not related to financial controls, financial statements, or business performance.”
On this news, TrueBlue’s stock price fell $1.06 per share, or 5%, to close at $18.55 per share on June 15, 2022.
For more information on the TrueBlue investigation go to: https://bespc.com/cases/TBI
GoodRx Holdings, Inc. (NASDAQ: GDRX)
On May 9, 2022, after the market closed, GoodRx announced its first quarter 2022 financial results and withdrew its fiscal 2022 guidance. In its shareholder letter, the Company stated that “a grocery chain had taken actions that impacted acceptance of discounts from most PBMs for a subset of drugs.” The Company expects “the grocer issue . . . could have an estimated revenue impact of roughly $30 million [and] will be ongoing without amelioration through Q2.” As a result, GoodRx “believe[s] it is unlikely [it] will be able to achieve the FY 2022 guidance” previously provided.
On this news, GoodRx’s stock fell $2.78, or 25.9%, to close at $7.97 on May 10, 2022, thereby injuring investors.
For more information on the GoodRx investigation go to: https://bespc.com/cases/GDRX
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.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
