Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
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Investigation
03/04/2021
Initial Lawsuit
03/04/2021
Lawsuit Progression
07/30/2021
Dismissal
09/29/2021
Plaintiff brings this securities class action against all persons and entities that purchased or otherwise acquired Leidos securities between May 4, 2020 and February 23, 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 the purported benefits of the Company’s acquisition of L3Harris’ Security Detection & Automation businesses were significantly overstated;
(2) that Leidos’ products suffered from numerous product defects, including faulty explosive detection systems at airports, ports, and borders;
(3) that, as a result of the foregoing, the Company’s financial results were significantly overstated; and
(4) 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.