
Amicus Therapeutics, Inc. (FOLD)
Whether directors and officers of Amicus Therapeutics, Inc. (FOLD) breached their fiduciary duties to the company and its shareholders.
Investigation
12/29/2021
Initial Lawsuit
02/09/2022
Lawsuit Progression
04/11/2022
This investors investigation follows Kerrisdale Capital released a “short” report against Astra Space alleging “financial projections” relying on “absurd market assumptions” for “another example of the questionable businesses going public via SPACs.“
12/29/2021
Kerrisdale Capital issues a short report alleging Astra Space is “yet another example of the questionable businesses going public via SPACs” with “massive obstacles in its quest to develop a viable business model” while it is “poorly positioned within an overcrowded market.”
Kerrisdale Capital is “short shares of Astra Space, a $2.0bn space launch company formed at the peak of the 2021 SPAC bubble – with no revenue, no track record of reliability, and no established market for its undersized vehicle.”
Stock Impact
Close | Previous close | Price variation | Percentage variation |
---|---|---|---|
$6.61 | $7.71 | $-1.1 | -14.27% |
This is a federal securities class action on behalf of a class consisting of all persons and entities other than defendants who purchased or otherwise acquired the publicly traded securities of the company between February 2, 2021 and December 29, 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:
(1) Astra cannot launch “anywhere”;
(2) Astra significantly overstated its addressable market;
(3) Astra overstated the effectiveness of its designs and reliability;
(4) Astra significantly overstated its plans for diversification and its broadband constellation plan; and
(5) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
The lead plaintiff deadline has passed, we will update this page as the lawsuit progresses.
Last event retrieved on 09/25/2022.
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