NEW YORK, Aug. 21, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Super Group (SGHC) Limited (NYSE: SGHC), Sema4 Holdings Corp. (NASDAQ: SMFR, SMFRW), Marqeta, Inc. (NASDAQ: MQ), and World Wrestling Entertainment, Inc. (NYSE: WWE). 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.
Super Group (SGHC) Limited (NYSE: SGHC)
On May 25, 2022, on a conference call to discuss the Company’s first quarter 2022 results, Super Group withdrew its fiscal year 2022 revenue guidance of €1.4 billion and adjusted EBITDA guidance of €345 million, stating that “[g]iven the volatility we’ve seen and known uncertainties, we’re working on a reforecast for 2022 and should be able to provide an update about our expectations when we release second quarter results in August.”
On this news, Super Group’s ordinary share price fell $1.89 per share, or 23.28%, to close at $6.23 per share on May 25, 2022.
Then, on August 11, 2022, on a conference call to discuss the Company’s second quarter 2022 results, Super Group provided fiscal year 2022 revenue guidance of “between €1.15 billion and €1.28 billion” and adjusted EBITDA guidance of “between €200 million and €250 million.” Super Group attributed the reduced guidance to “ongoing pressures from multiple economic and regulatory headwinds, together with some further degree of post-COVID normalization.”
On this news, Super Group’s ordinary share price fell $0.69 per share, or 12.19%, to close at $4.97 per share on August 11, 2022.
For more information on the Super Group investigation go to: https://bespc.com/cases/SGHC
Sema4 Holdings Corp. (NASDAQ: SMFR, SMFRW)
On July 22, 2021, CM Life Sciences, Inc., a special purpose acquisition company, completed its business combination with Mount Sinai Genomics, Inc., and the combined public entity was renamed Sema4.
Less than a year later, on June 14, 2022, Sema4 announced that its Chief Financial Officer had departed.
Then, on August 15, 2022, after the market closed, Sema4 announced changes to its research and development team, including that its founder was stepping down from the organization and leaving his role as President and chief R&D Officer. The Company also disclosed that it was eliminating approximately 13% of its workforce as part of a series of restructuring and corporate realignments. Additionally, Sema4 lowered its 2022 revenue guidance to $245 million to $255 million from its prior guidance of $305 million to $315 million.
On this news, Sema4’s stock fell $0.80, or 33.3%, to close at $1.60 per share on August 16, thereby injuring investors.
For more information on the Sema4 investigation go to: https://bespc.com/cases/SMFR
Marqeta, Inc. (NASDAQ: MQ)
On August 11, 2022, Marqeta announced that CEO Jason Gardner will step down from his role with the Company. COO Vidya Peters is leaving the Company at the same time.
Based on this news, Marqeta shares fell $1.49 per share, or 14.9%, to close at $8.51 per share on August 12, 2022.
For more information on the Marqeta investigation go to: https://bespc.com/cases/MQ
World Wrestling Entertainment, Inc. (NYSE: WWE)
WWE is the subject of a June 15, 2022, article in the Wall Street Journal titled: “WWE Board Probes Secret $3 Million Hush Pact by CEO Vince McMahon, Sources Say.” According to the article, the Company’s board “is investigating a secret $3 million settlement that longtime chief executive Vince McMahon agreed to pay to a departing employee with whom he allegedly had an affair, according to documents and people familiar with the board inquiry.” The article continues, “the board’s investigation, which began in April, has unearthed other, older nondisclosure agreements involving claims by former female WWE employees of misconduct by Mr. McMahon and one of his top executives, John Laurinaitis, the head of talent relations at WWE, the people said.”
On June 17, 2022, the Company issued a press release stating, “a Special Committee of the Board is conducting an investigation into alleged misconduct by its Chairman and CEO Vincent McMahon and John Laurinaitis, head of talent relations, and that, effective immediately, McMahon has voluntarily stepped back from his responsibilities as CEO and Chairman of the Board until the conclusion of the investigation.”
On this news, WWE stock fell $1.94, or 3%, to close at $62.51 on June 17, 2022.
For more information on the WWE investigation go to: https://bespc.com/cases/WWE
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
