NEW YORK, Nov. 27, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Veru Inc. (NASDAQ: VERU), Twist Bioscience Corp (NASDAQ: TWST), Leidos Holdings Inc. (NYSE: LDOS), and DLocal Ltd (NASDAQ: DLO). Our investigations concern 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.
Veru Inc. (NASDAQ: VERU)
On November 10, 2022, Veru issued a press release announcing that the U.S. Food and Drug Administration’s Pulmonary-Allergy Drugs Advisory Committee (the “Advisory Committee”) voted against granting emergency use authorization for the Company’s product sabizabulin for treatment of hospitalized moderate to severe COVID-19 patients who are at high risk for acute respiratory distress syndrome. Specifically, the Advisory Committee voted 8-5 that the known and potential benefits of sabizabulin do not outweigh its known and potential risks.
On this news, Veru’s stock price fell sharply during intraday trading on November 10, 2022.
For more information on the Instil investigation go to: https://bespc.com/cases/VERU
Twist Bioscience Corp (NASDAQ: TWST)
Before the market opened on November 15, 2022, Scorpion Capital published a negative report on Twist entitled "A Cash-Burning Inferno That Is Not a Going Concern, Operating a Ponzi-Like Scheme That Will End In Bankruptcy. Just Another 'Synthetic Biology' Swindle, This Time With An Absurd 'Silicon DNA Chip' And Financials So Phony It May Be Criminal. Target Price: $0." The report alleges Twist is "A ticking time bomb that we believe is resorting to a Worldcom-esque accounting fraud" and "Multiple competitors internally refer to Twist's price dumping and customer subsidy scheme as a "Ponzi".
In early morning trading on November 15, 2022, Twist's stock price is down $11.42 per share to $26.59, or a drop of 30.0%.
For more information on the Twist investigation go to: https://bespc.com/cases/TWST
Leidos Holdings Inc. (NYSE: LDOS)
In its 10-Q filed on November 1, 2022, Leidos disclosed that the Company received a grand jury subpoena in September 2022 related to the criminal investigation by the U.S. Attorney’s Office for the Southern District of California in conjunction with the DOJ’s Fraud Division. The subpoena requested documents relating to the Company's internal investigation that Leidos disclosed in its 10-K filed on February 15, 2022. Leidos initiated the investigation related to activities by some employees, third-party representatives, and subcontractors to determine whether certain conduct may have violated The Foreign Corrupt Practices Act.In its 10-Q filed on November 1, 2022, Leidos disclosed that the Company received a grand jury subpoena in September 2022 related to the criminal investigation by the U.S. Attorney’s Office for the Southern District of California in conjunction with the DOJ’s Fraud Division. The subpoena requested documents relating to the Company's internal investigation that Leidos disclosed in its 10-K filed on February 15, 2022. Leidos initiated the investigation related to activities by some employees, third-party representatives, and subcontractors to determine whether certain conduct may have violated The Foreign Corrupt Practices Act.
For more information on the Leidos investigation go to: https://bespc.com/cases/LDOS
DLocal Ltd (NASDAQ: DLO)
On November 16, 2022, Muddy Waters Capital LLC (“Muddy Waters”) published a research report concluding that DLocal “is likely a fraud.” Muddy Waters alleges that DLocal has repeated disclosures about its Total Processing Volume and accounts receivable “that flatly contradict one another” and that there is “a contradictory discrepancy between two key subsidiaries’ accounts payable and accounts receivable.” Muddy Waters also alleges that DLocal engaged in multiple misrepresentations to disguise the timing and the source of funding for an insider option exercise.
On this news, DLocal’s share price fell $10.76, or more than 50%, to close at $10.46 per share on November 16, 2022, thereby injuring investors.
For more information on the Twist investigation go to: https://bespc.com/cases/DLO
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
