Bragar Eagel & Squire, PC investigate MoneyLion,
NEW YORK, April 04, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against MoneyLion, Inc. (NYSE : ML), Anavex Life Sciences Corp. (NASDAQ: AVXL), Roblox Corp. (NYSE: RBLX) and Koppers Holdings, Inc. (NYSE: KOP). Our investigations focus on whether these companies have violated federal securities laws and/or engaged in other illegal business practices. Additional information on each case can be found at the link provided.
MoneyLion, Inc. (NYSE: ML)
On March 10, 2022, MoneyLion disclosed in a U.S. Securities and Exchange Commission filing that “Company management noted errors related to operating expenses, net loss, and profit (loss ) basic and diluted per share in the condensed consolidated statements of income”. for the three months and nine months ended September 30, 2021 and share premium and retained earnings in the condensed consolidated balance sheet as at September 30, 2021, together with the related impacts on the condensed consolidated statement of cash flows for the nine months ended September 30, 2021 and condensed consolidated statements of redeemable convertible preferred stock, redeemable non-controlling interests and shareholders’ deficit for the three and nine months ended September 30, 2021.” MoneyLion further disclosed that “management of the company has identified a second error. . . given that the denominator of the calculation of diluted net earnings per share for the quarter ended September 30, 2021 did not include the impact of dilutive securities” and that “[t]The Company’s management, in consultation with its advisors, has determined that the calculation of diluted net earnings per share included in the condensed consolidated statement of income for the three months ended September 30, 2021 should have included the impact of dilutive securities. Accordingly, the Audit Committee of MoneyLion’s Board of Directors determined that the financial statements in question “should no longer be relied upon and should be restated to correct the errors described above.”
On this news, MoneyLion stock price fell $0.18 per share, or 7.11%, to close at $2.29 per share on March 10, 2022.
For more information on the MoneyLion survey, visit: https://bespc.com/cases/ML
Anavex Life Sciences Corp. (NASDAQ:AVXL)
On February 1, 2022, before the market opened, Anavex announced that a Phase 3 trial of ANAVEX2-73 (blarcamesine) for Rett syndrome met primary and secondary endpoints. Following the announcement, several people on social media commented that the primary and secondary settings had recently been changed. STAT News writer Adam Feuerstein tweeted, “Anavex changed the primary and secondary endpoints of this Rett study on January 18, allowing it to claim success when the drug likely failed.”
On this news, Anavex stock fell $2.04, or 15.6%, to close at $11.04 per share on Feb. 1, 2022, hurting investors.
For more information on the Anavex survey, visit: https://bespc.com/cases/AVXL
Roblox Corp. (NYSE:RBLX)
On February 3, 2022, The Bear Cave published a report alleging that Roblox’s online platform aimed at children aged six to fourteen is “also the main platform for pedophiles”. The report details various arrests and charges of sexual offenses against minor victims as young as five years old, while “[t]The company has engaged in litigation and intimidation to help cover up allegations of pedophilia on the platform. Additionally, Roblox’s head of security and moderation has been accused of ‘peculiar’ social media activity, including numerous ‘likes’ from sexualized cosplayers and following a ‘hairy porn’ account. and the former Roblox social media manager allegedly ran a porn blog while employed by the Company.
At this news, Roblox shares fell 8.5% during intraday trading on February 3, 2022.
For more information on the Roblox survey, visit: https://bespc.com/cases/RBLX
Koppers Holdings, Inc. (NYSE: KOP)
On February 23, 2022, Koppers disclosed that the United States Securities and Exchange Commission was conducting an investigation “into public disclosures of the company’s non-GAAP financial measures relating to debt reduction target and leverage ratio. net of the company for fiscal year 2019 and the related management of its accounts payable.” Koppers’ chief executive and other current and former officers and employees had received subpoenas for information and testimony pursuant to a court order. official investigation dated February 14, 2021.
For more information on the Koppers investigation, visit: https://bespc.com/cases/KOP
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC 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, derivatives and other complex litigation before state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertisement. Prior results do not guarantee similar results.
Bragar Eagel & Squire, CP
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.