Kewaunee Scientific Corporation (KEQU)
Whether directors and officers of Kewaunee Scientific Corporation (KEQU) breached their fiduciary duties to the company and its shareholders.
Investigation
07/13/2021
Initial Lawsuit
07/13/2021
Lawsuit Progression
10/26/2021
Investigation regarding 3660 DigiTech’s collection of personal information in violation of the People’s Republic of China’s laws and regulations.
07/08/2021
Various news outlets report that 360 DigiTech’s app, 360 IOU, has allegedly been removed from the Android store (english version).
Stock Impact
Close | Previous close | Price variation | Percentage variation |
---|---|---|---|
$26.02 | $33.14 | $-7.12 | -21.48% |
This is a federal securities class action on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired 360 DigiTech securities between April 30, 2020 and July 7, 2021, both dates inclusive.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:
(i) the Company had been collecting personal information in violation of relevant PRC laws and regulations;
(ii) accordingly, 360 DigiTech was exposed to an increased risk of regulatory scrutiny and/or enforcement action;
(iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
10/26/2021
The court issued an order appointing the lead plaintiff and lead counsel.
03/15/2022
A motion to dismiss was filed with the court.
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