Securities Investigations

• Company Name Description Location

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• American Express Company On January 7, 2021, the Wall Street Journal reported that American Express was being investigated by the Treasury Department, the Federal Deposit Insurance Corporation, and the Federal Reserve. US Office Securities
• Axsome Therapeutics Inc. On August 9, 2021, Axsome announced that the FDA had found deficiencies with its New Drug Application (NDA) for AXS-05. The Company said it was attempting to determine the nature of the deficiencies, and that this announcement may delay the approval of AXS-05.   US Office Securities
• Berkeley Lights, Inc. Investigating Berkeley Lights' possible violations of federal securities laws related to the Company’s statements concerning the Beacon, its only product and a $2 million lab instrument that the Company touts is "a better, more advanced way to process and analyze cells."   US Office Securities
• Bristol-Myers Squibb Company Scott+Scott is investigating certain directors and officers of Bristol-Myers Squibb Company (“Bristol-Myers”) (NYSE: BMY) for breaching their fiduciary duties to Bristol-Myers and its shareholders. US Office Securities
• Canoo Inc. On May 17, 2021, Canoo said it is being investigated by the Securities and Exchange Commission, possibly related to the SEC’s interest in determining how warrants are treated. US Office Securities
• Cassava Sciences, Inc. Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, is investigating whether Cassava Sciences, Inc. (“Cassava” or the “Company”) (NASDAQ: SAVA), or certain of its officers and directors, violated federal securities laws. US Office Securities
• Clover Health Investments, Corp. On January 7, 2021, SCH III closed a merger transaction, with Clover Health continuing as the successor entity. On February 4, 2021, Hindenburg Research issued a report claiming that Clover Health was misleadingly hiding governmental investigations from the public. US Office Securities
• Cognex Corporation On April 23, 2021, the New York Times reported that Cognex CEO Robert Shillman was a major funder of far-right extremists in the U.K, and financially supported a violent rally in the United Kingdom on June 9, 2018, in support of far-right extremists. US Office Securities
• ContextLogic Inc. On May 12, 2021, ContextLogic reported a first-quarter loss of $128 million, or 21 cents a share, on sales of $772 million. In the same period a year prior, ContextLogic reported a loss of $66 million on sales of $440 million. US Office Securities
• Dfinity USA Research LLC Scott+Scott is continuing its investigation into Dfinity USA Research LLC and related parties, alleging violations of federal securities laws in connection with the launch of the “Internet Computer” Project token or “ICP”. US Office
• Eargo, Inc. Scott+Scott Attorneys is investigating whether Eargo, Inc. and certain of its officers and directors violated federal securities laws by making materially misleading statements to investors.  US Office Securities
• Emergent BioSolutions Inc. On March 31, 2021, reports emerged of production problems at Emergent BioSolutions’s plant in Baltimore, including that Emergent had ruined 15 million doses of Johnson & Johnson’s coronavirus vaccine. US Office Securities
• Encore Capital Group, Inc. On October 15, 2020, Encore agreed to pay $15 million to settle a Consumer Financial Protection Bureau lawsuit alleging it violated a 2015 consent order regarding violations of federal consumer protection laws through its debt-collection practices. US Office Securities
• EQT Corporation On October 25, 2018, the Company reported poor third quarter financial results caused by an increase in total costs and disclosed that its estimated capital expenditures for well development in 2018 would increase by $300 million. As a result, the Company reduced its full-year forecast for 2018. US Office Securities
• FibroGen, Inc. Then, on April 6, 2021, FibroGen shocked the market by admitting that the Company had altered stratification factors of its data after-the-fact in order to make roxadustat’s hazard ratios indicate a lower risk relative to EPO. US Office Securities
• Frequency Therapeutics, Inc. Frequency’s stock price fell $28.30 per share – nearly 78% – to close at $7.99 per share on March 23, 2021. US Office Securities
• Guess ?, Inc. On January 19, 2021, a fashion model filed a complaint against Guess and its co-founder and director Paul Marciano, alleging that Marciano was a known “recidivist sexual predator.” US Office Securities
• IAC/InterActiveCorp On January 12, 2021, a former executive at IAC subsidiary Dotdash filed a pregnancy bias lawsuit alleging a misogynistic corporate culture and systemic discriminatory behavior. US Office Securities
• InnovAge Holding Corp. Scott+Scott is investigating whether InnovAge Holding Corp. and certain of its officers and directors violated federal securities laws by making materially misleading statements to investors.  US Office Securities
• LifeStance Health Group, Inc. Scott+Scott is investigating whether LifeStance Health Group, Inc. (“LifeStance Health” or the “Company”) (NASDAQ: LFST) and certain of its officers and directors violated federal securities laws in connection with its June 2021 initial public offering (“IPO”).  US Office Securities
• Lordstown Motors Corp. On March 17, 2021, Lordstown reported it received an inquiry on its operations from the United States Securities and Exchange Commission. US Office Securities
• Ormat Technologies, Inc. On March 1, 2021, Hindenburg Research released a report accusing Ormat of multiple instances of foreign corruption and bribery, including in Guatemala, Kenya, and Honduras. US Office Securities
• Oscar Health, Inc. On May 13, 2021, Oscar Health published its first quarter 2021 financial results, revealing a $87.4 million los s, which fell well below analysts’ expectations. On this news, the price of the Company’s stock declined, closing at $20.51 per share, or over 47% below the Offering Price. US Office Securities
• Ouster, Inc. Scott+Scott is investigating whether Ouster, Inc. and certain of its officers and directors violated federal securities laws by making materially misleading statements to investors.  US Office Securities
• Parts iD, Inc. On September 18, 2020, Legacy Acquisition executed a merger agreement with the predecessor to Parts iD, with an October 19, 2020, record date for the shareholder vote. On November 20, 2020, the merger transaction closed, with Parts iD continuing as the successor entity. US Office Securities
• Renewable Energy Group, Inc. Renewable Energy’s share price declined by $8.17 per share, or approximately 9.5%, to close at $77.77 per share on February 26, 2021, on unusually heavy trading volume. US Office Securities
• Replay Acquisition Corp On August 12, 2021, Finance of America announced quarterly earnings, including a drop in mortgage originations and a narrower gain on sale margins, dropping the stock price to $5.33/share. US Office Securities
• RLX Technology Inc. On or about January 22, 2021, RLX went public issuing over 116 million American Depository Shares (ADS) at $12 per ADS (the “Offering Price”), generating gross proceeds of nearly $1.4 billion. By March 2021, the Company’s stock began trading below the Offering Price. On June 2, 2021, RLX shares closed at $11.22 per share. US Office Securities
• Ryder System, Inc. Scott+Scott is investigating whether the Board failed to disclose material information, including whether: (1) Ryder inflated its financial results by systematically overstating the residual value of its trucking fleet; and (2) as a result, statements about Ryder’s business, operations, and prospects lacked a reasonable basis. US Office Securities
• Sequential Brands Group, Inc. On December 11, 2020, the U.S. Securities and Exchange Commission filed a complaint against Sequential for failing to properly and timely take a goodwill impairment, in violation of federal securities laws. US Office Securities
• SOC Telemed, Inc. On July 29, 2020, Healthcare Merger executed a merger agreement with the predecessor to SOC Telemed, with a September 25, 2020, record date for the shareholder vote.   US Office Securities
• SolarWinds Corporation On December 13, 2020, SolarWinds disclosed that its Orion monitoring products may have been implicated in alleged hacks of governmental email traffic by the Russian Federation. US Office Securities
• Stifel Financial Corp. On January 5, 2021, an employee filed a lawsuit against a subsidiary of Stifel, alleging sexual assault and harassment by one of Stifel’s leading senior investment managers seeking injunctive, declaratory, and monetary relief. US Office Securities
• Tapestry, Inc. On July 21, 2020, Tapestry announced the sudden resignation of its Chief Executive Officer and Chairman of the Board, Jide Zeitlin. It was later announced that Zeitlin had been the subject of a misconduct allegation relating to a past relationship. US Office Securities
• Triterras, Inc. On July 29, 2020, Netfin Acquisition executed a merger agreement with the predecessor to Triterras, with an October 12, 2020, record date for the shareholder vote. US Office Securities
• View Inc On August 16, 2021, after the market closed, View announced that it “began an independent investigation concerning the adequacy of the company’s previously disclosed warranty accrual.” On this news, the Company’s share price fell sharply. US Office Securities
• Yalla Group Limited On May 19, 2021, Swan Street Research (“Swan Street”) published a report addressing Yalla, entitled “Is Yalla Group a Multi $B Fraud? The ‘Clubhouse of the Middle East’ UAE Tech Unicorn that Never Was.” The Swan Street report alleges, among other things, that the Company inflates its metrics, including revenue, and characterizes Yalla’s financial statements as “not credible.” US Office Securities