Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
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Investigation
04/09/2021
Initial Lawsuit
04/09/2021
Dismissal
06/18/2021
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 Amdocs ordinary shares between December 13, 2016 and March 30, 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) Amdocs overstated its profits, cash, and liquidity, while understating its debt;
(ii) Amdocs concealed its large borrowing;
(iii) while Amdocs’ reported results showed that its North American business was stable, that business was actually deteriorating annually, in part because the company was losing AT&T as a customer;
(iv) as a result, the company’s public statements were materially false and misleading at all relevant times.
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.