NEW YORK, NY / ACCESSWIRE / October 22, 2020 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly-traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
Fastly, Inc. (NYSE:FSLY)
Investors Affected: May 6, 2020 - August 5, 2020
A class action has commenced on behalf of certain shareholders in Fastly, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Fastly's largest customer was ByteDance, operator of TikTok, which was known to have serious security risks and was under intense scrutiny by U.S. officials; (2) there was a material risk that Fastly's business would be adversely impacted should any adverse actions be taken against ByteDance or TikTok by the U.S. government; and (3) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders may find more information at https://securitiesclasslaw.com/securities/fastly-inc-loss-submission-form/?id=10403&from=1
Progenity, Inc. (NASDAQ:PROG)
This lawsuit is on behalf of all purchasers of Progenity common stock pursuant and/or traceable to the registration statement, as amended, issued in connection with Progenity's June 2020 initial public offering.
A class action has commenced on behalf of certain shareholders in Progenity, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) that Progenity had overbilled government payors by $10.3 million in 2019 and early 2020 and, thus, had materially overstated its revenues, earnings and cash flows from operations for the historical financial periods provided in the registration statement; (ii) that Progenity would need to refund this overpayment in the second quarter of 2020 (the same quarter in which the initial public offering was conducted), adversely impacting its quarterly results; and (iii) that Progenity was suffering from accelerating negative trends in the second quarter of 2020 with respect to the Company's testing volumes, revenues and product pricing.
Shareholders may find more information at https://securitiesclasslaw.com/securities/progenity-inc-loss-submission-form/?id=10403&from=1
Reata Pharmaceuticals, Inc. (NASDAQ:RETA)
Investors Affected: October 15, 2019 - August 7, 2020
A class action has commenced on behalf of certain shareholders in Reata Pharmaceuticals, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the MOXIe Part 2 study results were insufficient to support a single study marketing approval of omaveloxolone for the treatment of FA in the U.S. without additional evidence; (ii) as a result, it was foreseeable that the FDA would not accept marketing approval of omaveloxolone for the treatment of FA in the U.S. based on the MOXIe Part 2 study results; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/reata-pharmaceuticals-inc-loss-submission-form/?id=10403&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm