The Gross Law Firm Announces Class Actions on Behalf of Shareholders of SRAC, BLCT and SAVA
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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of SRAC, BLCT and SAVA

Sunday, August 29, 2021 11:45 AM
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Lawsuits

NEW YORK, NY / ACCESSWIRE / August 29, 2021 / 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.

Stable Road Acquisition Corp. (NASDAQ:SRAC)

Investors Affected : October 7, 2020 - July 13, 2021

A class action has commenced on behalf of certain shareholders in Stable Road Acquisition Corp. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) Stable Road's acquistion target, Momentus's 2019 test of its key technology, a water plasma thruster, had failed to meet Momentus's own public and internal pre-launch criteria for success, and was conducted on a prototype that was not designed to generate commercially significant amounts of thrust; (b) the U.S. government had conveyed that it considered Momentus's Chief Executive Officer a national security threat, jeopardizing his continued leadership of Momentus and Momentus's launch schedule and business prospects; (c) consequently, the revenue projections and business and operational plans provided to investors regarding Momentus and the commercial viability and timeline of its products were materially false and misleading and lacked a reasonable basis in fact; and (d) Stable Road had failed to conduct appropriate due diligence of Momentus and its business operations and defendants had materially misrepresented the due diligence activities being conducted by Stable Road executives and its sponsor in connection with the merger.

Shareholders may find more information at https://securitiesclasslaw.com/securities/stable-road-acquisition-corp-loss-submission-form/?id=19081&from=1

Bluecity Holdings Limited (NASDAQ:BLCT)

This lawsuit is on behalf of all persons and entities, other than Defendants, who purchased or otherwise acquired BlueCity American Depositary Shares pursuant and/or traceable to the Offering Documents issued in connection with the Company's initial public offering conducted on or about July 8, 2020.

A class action has commenced on behalf of certain shareholders in Bluecity Holdings Limited. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Defendants had overstated BlueCity's business and financial prospects; (2) the Company was ill-equipped to absorb the costs of becoming a publicly traded company, including IPO- and growth-related costs; (3) as a result of all the foregoing, Defendants had misrepresented the Company's capability for sustainable growth; and (4) as a result, the Offering Documents were materially false or misleading and/or failed to state information required to be stated therein.

Shareholders may find more information at https://securitiesclasslaw.com/securities/bluecity-holdings-limited-loss-submission-form/?id=19081&from=1

Cassava Sciences, Inc. (NASDAQ:SAVA)

Investors Affected : February 2, 2021 - August 24, 2021

A class action has commenced on behalf of certain shareholders in Cassava Sciences, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) the quality and integrity of the scientific data supporting Cassava's claims for simufilam's, a small molecule drug designed to treat Alzheimer's disease, efficacy had been overstated; (b) the scientific data supporting Cassava's claims for simufilam's efficacy were biased; and (c) as a result of the foregoing, Defendants' positive statements during the Class Period about the Company's business metrics and financial prospects and the likelihood of Food and Drug Administration approval were false and misleading and/or lacked a reasonable basis.

Shareholders may find more information at https://securitiesclasslaw.com/securities/cassava-sciences-inc-loss-submission-form/?id=19081&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

The Gross Law Firm
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