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NEW YORK, July 17, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against Hibbett Sports, Inc., Pintec Technology Holdings, Ltd., CareDX, Inc., and Ideanomics, Inc. on behalf of investors. Our investigation concerns whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Hibbett Sports, Inc. (NASDAQ: HIBB)
On June 14, 2019, post-market, Hibbett Sports filed a Notification of Late Filing with the U.S. Securities and Exchange Commission, stating that the Company “has determined that it is unable to file its Quarterly Report on Form 10-Q for the quarter ended May 4, 2019 . . . within the prescribed time period due to the Company’s need to further review its recent adoption of the Financial Accounting Standards Board’s Accounting Standards Update (ASU) 2016-02, Topic 842, Leases, as of February 3, 2019.”
On this news, Hibbett Sports’ stock price fell $2.13 per share, or 9.67%, to close at $19.89 per share on June 17, 2019
To learn more about the Hibbett Sports investigation go to: https://bespc.com/HIBB
Pintec Technology Holdings, Ltd. (NASDAQ: PT)
In October 2018, Pintec completed its initial public offering (“IPO”) in which it sold more than 3.7 million American Depositary Shares (or “ADSs”) at $11.88 per share.
On April 30, 2019, the Company disclosed that it could not timely file its 2018 annual report, its first filing on Form 20-F since it went public. Since the IPO, Pintec’s ADSs have traded as low as $2.80 per share, significantly below the $11.88 offering price.
To learn more about the Pintec investigation go to: https://bespc.com/PT
CareDX, Inc. (NASDAQ: CDNA)
On July 16, 2019, Kerrisdale Capital Research released a report alleging, among other things, that the Company’s diagnostic test, AlloSure, is “fundamentally incapable of identifying the most common type of kidney rejection.” Moreover, the report stated that AlloSure revenues are derived from “protocol usage in clinical testing, which is suffering 20-30% quarterly attrition.”
On this news, shares of CareDX fell as much as 14%, from $37.40 per share to $32.57 per share, thereby injuring investors.
To learn more about the CareDX investigation go to: https://bespc.com/CDNA
Ideanomics, Inc. (NASDAQ: IDEX)
On November 14, 2018, Ideanomics issued a press release disclosing that the Company “intend[ed] to phase out [its] oil trading and consumer electronics businesses, with the intention to fully divest these assets in the near future.” Ideanomics also disclosed that it did “not anticipate meeting [its] EBITDA guidance of $35 million for fiscal year 2018,” citing “costs associated with building out [its] U.S. infrastructure and hiring [its] new executive team.”
On this news, Ideanomics’ stock price fell $1.59 per share, or 48.77%, to close at $1.67 per share on November 14, 2018.
To learn more about the Ideanomics investigation go to: https://bespc.com/IDEX
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.