Investigation
BioXcel Therapeutics, Inc. (BTAI)
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.
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Investigation
07/19/2021
Initial Lawsuit
06/15/2022
Lawsuit Progression
08/15/2022
A shareholder brings this federal securities class action on behalf of all persons who purchased or otherwise acquired Unilever American Depositary Receipts (ADRs) between September 2, 2020, and July 21, 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:
(a) Unilever acknowledged the importance of maintaining successful customer relationships with existing customers but omitted discussing that the Ben & Jerry’s Board had already decided to end sales to existing Israeli customers, which risked reduced sales and a customer backlash.
(b) The company’s description of its Ethical risks (¶39 of the complaint) was materially false and misleading because Unilever acknowledged that its brands and reputation are valuable assets that could be impacted by unethical conduct but omitted discussing Ben & Jerry’s boycott decision, which risked damage to Unilever’s brands, reputation, and business results.
(c) The company’s description of its Legal risks (¶40 of the complaint) was materially false and misleading because Unilever acknowledged that complying with all applicable laws and regulations was important but omitted discussing Ben & Jerry’s boycott decision, which risked adverse governmental actions for violations of Anti-BDS Legislation.
Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.