Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
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Investigation
09/03/2021
Initial Lawsuit
09/03/2021
Lawsuit Progression
05/02/2022
This is a securities class action on behalf of all persons and entities who purchased or acquired shares of loanDepot, Inc. pursuant or traceable to the company’s registration statement and prospectus issued in connection with the company’s February 16, 2021 initial public offering (IPO).
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 Company’s refinance originations had already declined substantially at the time of the IPO due to industry over-capacity and increased competition;
(2) that the Company’s gain-on-sale margins had already declined substantially at the time of the IPO;
(3) that, as a result, the Company’s revenue and growth would be negatively impacted; 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.