Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
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Investigation
12/21/2021
Initial Lawsuit
12/21/2021
Lawsuit Progression
07/19/2022
This is a class action on behalf of persons and entities that purchased or otherwise acquired Desktop Metal securities between March 15, 2021 and November 15, 2021, 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:
(1) that there were deficiencies in EnvisionTEC’s manufacturing and product compliance practices and procedures;
(2) that the foregoing deficiencies presented a material risk to the commercialization of EnvisionTEC’s products; and
(3) that, as a result of the foregoing, defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.