Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
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Investigation
02/17/2021
Initial Lawsuit
02/17/2021
Lawsuit Progression
05/19/2021
Plaintiff brings this securities class action on behalf of persons and entities that purchased or otherwise acquired Jianpu American Depositary Shares between May 29, 2018 and February 16, 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 certain of the Company’s transactions carried out by the Credit Card Recommendation Business Unit involved undisclosed relationships or lacked business substance;
(2) that, as a result, Jianpu’s revenue and costs and expenses for fiscal 2018 and 2019 were overstated;
(3) that there were material weaknesses in Jianpu’s internal control over financial reporting;
(4) that, as a result of the foregoing, the Company’s fiscal 2018 Form 20-F was reasonably likely to be restated; and
(5) 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.