Bragar Eagel & Squire, P.C. Is Investigating Lion Electric, Flywire, Civitas, and SoundHound and Encourages Investors to Contact the Firm

Associated Press

21-03-2025

NEW YORK, March 20, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims The Lion Electric Company (OTCPK: LEVGQ), Flywire Corporation (NASDAQ:FLYW), Civitas Resources, Inc. (NYSE: CIVI), and SoundHound AI, Inc. (NASDAQ:SOUN). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
The Lion Electric Company (OTCPK: LEVGQ)
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Lion Electric is the subject of a report published by the Kennebec Journal on February 17, 2025, titled: 'EPA visits Winthrop schools as part of electric bus investigation.' According to the article, 'Federal agents visited Winthrop schools in late January as part of an investigation into Lion Electric Co.'s electric buses, interim Superintendent Becky Foley told the school board earlier this month.' The superintendent told the school board that, 'I met with an EPA special agent last week to see if there was any fraud committed by Lion. I think whatever resolution may occur will take some time, and I will keep the board posted.'
Flywire Corporation (NASDAQ:FLYW)
On February 25, 2025, Flywire released its fourth quarter 2024 financial results. Among other items, Flywire missed consensus estimates with respect to key metrics, reported a net loss of $15.9 million, lowered its 2025 guidance, and announced a restructuring plan that includes a 10% reduction in its workforce. On this news, Flywire's stock price fell $6.59 per share, or 37.4%, to close at $11.05 per share on February 26, 2025.
For more information on the Flywire investigation go to: https://bespc.com/cases/FLYW
Civitas Resources, Inc. (NYSE: CIVI)
On February 24, 2025, Civitas announced its financial results for the fourth quarter and full year 2024, including both revenue and non-GAAP EPS that missed consensus estimates. Civitas also announced a 10% reduction in its workforce across all levels, as well as the termination of its Chief Operating Officer Hodge Walker and Chief Transformation Officer Jerome Kelly, effective immediately.
On this news, Civitas's stock price fell $8.95 per share, or 18.15%, to close at $40.35 per share on February 25, 2025.
For more information on the Civitas investigation go to: https://bespc.com/cases/CIVI
SoundHound AI, Inc. (NASDAQ:SOUN)
On March 4, 2025, SoundHound filed a Notification of Late Filing on Form 12b-25 with the SEC, stating that the Company would be unable to file its 10-K annual report for the fiscal year ended December 31, 2024, within the prescribed time period. The Notification of Late Filing said that "[d]ue to the complexity of accounting for [the Company's prior acquisitions of Synq3, Inc. and Amelia Holdings, Inc.], the Company requires additional time to prepare financial statements and accompanying notes.' The Notification of Late Filing further stated that the Company 'has identified material weaknesses in its internal control over financial reporting. These material weaknesses continue to exist as of December 31, 2024. The Company expects to file its Form 10-K within the fifteen-day period provided under Rule 12b-25, no later than by March 18, 2025.' Following this news, SoundHound stock dropped 5.8% on March 4, 2025.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. 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, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.