NEW YORK, NY / ACCESSWIRE / September 20, 2022 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Coinbase Global, Inc. (NASDAQ:COIN)
Class Period: April 14, 2021 - July 26, 2022
Deadline: October 3, 2022
For more info: www.bgandg.com/coin
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Coinbase custodially held crypto assets on behalf of its customers, which assets Coinbase knew or recklessly disregarded could qualify as the property of a bankruptcy estate, making those assets potentially subject to bankruptcy proceedings in which Coinbase's customers would be treated as the Company's general unsecured creditors; (2) Coinbase allowed Americans to trade digital assets that Coinbase knew or recklessly disregarded should have been registered as securities with the SEC; (3) the foregoing conduct subjected the Company to a heightened risk of regulatory and governmental scrutiny and enforcement action; and (4) as a result, the Company's public statements were materially false and misleading at all relevant times.
Kiromic BioPharma, Inc. (NASDAQ:KRBP)
Class Period: Kiromic (1) common stock pursuant and/or traceable to the Offering Documents (defined below) and/or (2) securities between June 25, 2021, and August 13, 2021, both dates inclusive (the "Class Period").
Deadline: October 4, 2022
For more info: www.bgandg.com/krbp
The Complaint alleges that the Offering Documents contained untrue statements of material fact, omitted material facts necessary to make the statements contained in them not misleading, and omitted to state material facts required under the statute, rules, and regulations governing the preparation of public offering documents for securities. Specifically, that (1) the Offering Documents failed to disclose that the FDA had, prior to the filing of the Registration Statement and Prospectus, imposed a clinical hold, and in fact, contained statements indicating that it had not; and (2) the Offering Documents failed to disclose they had received communications from the FDA on June 16 and 17, 2021 informing it that the FDA was placing the IND applications for its two candidate products on clinical hold, instead representing that clinical testing was expected to proceed in the third quarter of 2021, which did not, nor was it likely given the hold; and (3) as a result of these misleading statements and omissions, and the resulting decline in the market value of the Company's stock, Plaintiff and the putative class have suffered significant losses.
Tuya, Inc (NYSE:TUYA)
Class Period: Tuya American Depositary Shares ("ADSs") in or traceable to the Company's March 2021 initial public offering (the "IPO").
Deadline: October 11, 2022
For more info: www.bgandg.com/tuya.
The Complaint alleges that the defendants made materially false and misleading statements and omissions in the Registration Statement. The defendants failed to disclose the following adverse facts that existed at the time of the IPO: (1) a material portion of Tuya's China-based customers were engaged in the widespread and systematic manipulation of reviews and product offerings in violation of Amazon.com's terms of use; (2) prior to the IPO, a consumer investigation and data breach had exposed an illicit fake review scheme being perpetrated by many of Tuya's clients, among others, which included, among other things, the exposure of 13 million records of organized fake review scams linked to over 200,000 Amazon account profiles; (3) as a result, there was a substantial risk that a material portion of Tuya's significant customers would be barred from using Amazon.com's platform, negatively impacting Tuya's business, revenue, earnings, and prospects; and (4) as such, the Registration Statement's representations regarding Tuya's historical financial and operational metrics and purported market opportunities and expected growth did not accurately reflect the actual business, operations, financial results, and trajectory of the Company at the time of the IPO.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC