Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
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Investigation
02/04/2022
Initial Lawsuit
02/16/2022
Lawsuit Progression
04/18/2022
This is a class action on behalf of persons and entities that purchased or otherwise acquired SunPower securities between August 3, 2021 and January 20, 2022, 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 connectors used by SunPower suffered from cracking issues;
(2) that, as a result, the company was reasonably likely to incur costs to remediate the faulty connectors;
(3) that, as a result of the foregoing, SunPower’s financial results would be adversely 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.
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