Registration Statement

Opendoor (OPEN) Omissions About Algorithm Securities Class Action

Opendoor Technologies, Inc. was formed via a merger to operate a digital platform for flipping residential real estate. Unfortunately, the algorithm it was using to make its offers for homes was not adequate. The complaint for this securities class action alleges that the offering documents filed for the merger “were negligently prepared” and that they  Read more

Bristol-Myers Squibb (BMY) Delay of Drug Approval Securities Class Action

Bristol-Myers Squibb Co. filed an S-4 Registration Statement for its November 2019 acquisition of Celgene Corporation. The complaint for this class action alleges that this S-4 contained untrue statements and omitted important information, because it did not disclose that Bristol-Myers was deliberately slow-walking approval of a drug. The slowdown would mean that certain milestones in  Read more

CannTrust Securities False Statements Settlement

CannTrust Holdings, Inc. and other parties are settling class actions in Canada and the US alleging the company made false and misleading statements in its offering documents, about its compliance with cannabis regulations and due to an alleged scheme to increase its cannabis production. The complaint alleged that the statements caused the price of CannTrust’s  Read more

United States Oil Fund Investment Losses Investigation

Did you lose a large amount of money on your investment with the exchange-traded fund (ETF) United States Oil Fund, LP (USO)? Do your losses on this fund add up to $250,000 or more? We’re investigating whether certain statements made by USO in its March 2020 registration statement might have been false or misleading, giving  Read more

KemPharm Did Not Prove Apadaz to Be Abuse-Deterrent Securities Class Action

This securities class action alleges that KemPharm should have considered Food and Drug Administration (FDA) guidance when designing studies for its lead product candidate, an opioid painkiller the company hoped would be labeled as abuse-deterrent. Ignoring those guidelines, the complaint says, made it unlikely that the drug would get the approval it needed and made  Read more

ZTO Express Offering Inaccurate Registration Statement Materials Securities Class Action

Chinese company ZTO Express (Cayman) Inc. held a public offering of American Depository Shares (ADSs) in October 2016 at which it sold over 72 million ADSs. But the complaint for this class action alleges that the company both made untrue statements and omitted material facts in its Registration Statement, violating the Securities Act of 1933.  Read more

Bay Bancorp Merger Misleading Registration Statement Securities Class Action

Bay Bancorp, Inc. has entered into a merger agreement under which it would be acquired by Old Line Bancshares, Inc., but the complaint for this class action alleges a large number of material omissions from the Form S-4 Registration Statement filed by the company with the Securities and Exchange Commission (SEC). These omissions, it says,  Read more

Impax Labs Misleading Registration Statement Securities Class Action

On October 17, 2017, Impax Laboratories, Inc. entered into a complex merger agreement with Amneal Pharmaceuticals, but the complaint for this class action says that the Registration Statement for the transaction is deficient and violates Sections 14(a) and 20(a) of the Securities Exchange Act of 1934. The omissions include the bases for financial projections and  Read more

Qudian IPO Registration Statement Omitted Info Securities Class Action

Eight underwriters were involved in Qudian’s initial public offering (IPO), but the complaint for this class action claims that the Registration Statement they caused to be filed was misleading, omitting critical information in two respects, (1) in discussing the company’s collection practices and (2) in discussing its data systems and procedures. The complaint alleges that  Read more

Tintri Misleading IPO Registration Statement Securities Class Action

When Tintri, Inc. decided to go public, it made the required filings of Registration Statement and Prospectus with the Securities and Exchange Commission (SEC). The initial public offering (IPO) raised $60 million for the company, but the complaint for this class action claims the filings contained false and misleading statements, in violation of Sections 11  Read more