Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
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Investigation
10/29/2021
Initial Lawsuit
10/29/2021
Lawsuit Progression
03/14/2022
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 Camber securities between February 18, 2021 and October 4, 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) Camber overstated the financial and business prospects of Viking as well as the combined company post-Merger;
(ii) Camber failed to apprise investors of, and/or downplayed, the fact that its acquisition of a controlling interest in Viking would exacerbate the company’s delinquent financial statements and listing obligations with the NYSE;
(iii) an institutional investor was diluting Camber’s shares at a significant rate following the company’s July 12, 2021 update regarding the number of its shares of common stock issued and outstanding; and
(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.