BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
Investigation
07/05/2021
Initial Lawsuit
07/12/2021
Lawsuit Progression
07/01/2022
Did Full Truck Alliance Co. Ltd. mislead investors in connection with its June 23, 2021, initial public offering (IPO) and the cybersecurity of its apps Yunmanman and Huochebang?
This post is open for investors to gather facts, and findings and track their exposure to related lawsuits. We invite investors and shareholders to contribute to this investigation for their own benefit, add events to the factual timeline below and vote on events’ pertinence.
A lawsuit was subsequently filed. We will update this post as it unfolds.
07/05/2021
Full Truck Alliance announces that the company’s Yunmanman and Huochebang apps are subject to a cybersecurity review by the Cybersecurity Review Office of the Cyberspace Administration of China, following an announcement on their website.
“In order to facilitate the review and prevent the expansion of potential risks, these mobile apps are required to suspend new user registration in China during the review period.“
Stock Impact
Close | Previous close | Price variation | Percentage variation |
---|---|---|---|
$17.75 | $19.02 | $-1.27 | -6.68% |
A Full Truck Alliance Co. Ltd. filed this securities class action lawsuit on behalf of persons who purchased or otherwise acquired FTA’s securities pursuant and/or traceable to the registration statement and related prospectus issued in connection with FTA’s June 2021 initial public offering.
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) FTA’s apps Yunmanman and Huochebang would face an imminent cybersecurity review by the CAC;
(2) the CAC would require FTA to suspend new user registration;
(3) FTA needed to conduct a “comprehensive self-examination of any cybersecurity risks”;
(4) FTA needed to “continue to improve its cybersecurity systems and technology capabilities”;
(5) as a result, Defendants’ public statements were materially false and misleading at all relevant times and negligently prepared.
07/01/2022
The court issued an order appointing the lead plaintiff and lead counsel.
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
Whether directors and officers of Inari Medical, Inc. (NARI) breached their fiduciary duties to the company and its shareholders.
Whether directors and officers of LegalZoom.com, Inc. (LZ) breached their fiduciary duties to the company and its shareholders.
Whether directors and officers of Payoneer Global Inc. (PAYO) breached their fiduciary duties to the company and its shareholders.
Whether directors and officers of Amicus Therapeutics, Inc. (FOLD) breached their fiduciary duties to the company and its shareholders.
Whether directors and officers of Kewaunee Scientific Corporation (KEQU) breached their fiduciary duties to the company and its shareholders.