Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
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Investigation
03/01/2022
Initial Lawsuit
03/07/2022
Lawsuit Progression
07/01/2022
A Rivian investor filed a securities class-action lawsuit on behalf of all persons or entities, other than defendants, who purchased Rivian’s common stock pursuant to or traceable to Rivian’s initial public offering (IPO) on November 10, 2021.
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:
(i) that the R1T and R1S were underpriced to such a degree that Rivian would have to raise prices shortly after the IPO; and
(ii) that these price increases would tarnish Rivian’s reputation as a trustworthy and transparent company and would put a significant number of the existing backlog of 55,400 preorders along with future preorders in jeopardy of cancellation.
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.