Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
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Investigation
03/01/2021
Initial Lawsuit
03/01/2021
Lawsuit Progression
06/02/2021
Dismissal
07/30/2021
Plaintiff brings this securities class action on behalf of all persons and entities that purchased or otherwise acquired MoneyGram securities between June 17, 2019 and February 22, 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 that:
(i) XRP, the cryptocurrency that MoneyGram was utilizing as part of its Ripple partnership,
was viewed as an unregistered and therefore unlawful security by the SEC;
(ii) in the event that the SEC decided to enforce the securities laws against Ripple, MoneyGram would be likely to lose the lucrative stream of market development fees that was critical to its
financial results throughout the class period; and
(iii) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.