Investigation
Kewaunee Scientific Corporation (KEQU)
Whether directors and officers of Kewaunee Scientific Corporation (KEQU) breached their fiduciary duties to the company and its shareholders.
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Investigation
05/14/2021
Initial Lawsuit
05/14/2021
Lawsuit Progression
09/24/2021
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 Danimer securities between December 30, 2020 and March 19, 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) Danimer had deficient internal controls;
(ii) as a result, the Company had misrepresented, inter alia, its operations’ size and regulatory compliance;
(iii) Defendants had overstated Nodax’s biodegradability, particularly in oceans and landfills;
(iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
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