Latest news with #GrizzlyResearch
Yahoo
11 hours ago
- Business
- Yahoo
Microvast stock falls after Grizzly report alleges fabricated business
-- Microvast Holdings Inc (NASDAQ:MVST) stock tumbled 7% Wednesday following a scathing report from Grizzly Research that questioned the battery company's production capabilities and financial reporting. The short-seller report, titled "Microvast's House of Lies," claims the company is "fabricating a significant part of its business and capabilities" based on extensive on-site observations of its manufacturing facilities. Grizzly conducted multiple visits to Microvast's Ludwigsfelde/Berlin plant, reporting minimal activity despite the company's claims that up to 250 people should be working there. According to Grizzly's investigation, the German facility showed virtually no truck activity during 39 out of 41 random observations, with employee parking lots showing fewer than 30 cars on average. The report also alleges that Microvast's largest production facility in China employs approximately 1,400 people, far below the 2,500 employees the company has disclosed. The short-seller raised additional concerns about Microvast's U.S. operations, claiming the company "failed all of its U.S. business initiatives and lost dozens of millions of shareholders' money in the process." Grizzly noted that Microvast was denied a $200 million government grant for its U.S. facility construction due to suspected ties with the Chinese government. Further allegations include claims that over 95% of Microvast's announced clients and partnerships outside China are "tiny startups or prototype partnerships showing insignificant economic opportunities." The report also asserts that despite management denials, documentation proves "the Chinese government is in fact a shareholder in Microvast's main Chinese subsidiary." Microvast, which went public via SPAC in 2021, has not yet responded to the allegations. Related articles Microvast stock falls after Grizzly report alleges fabricated business Shell says no talks are taking place to acquire BP following mega-deal rumors Intel to wind down auto business and lay off department staff, OregonLive reports
Associated Press
19-06-2025
- Business
- Associated Press
Rosen Law Firm Encourages GeneDx Holdings Corp. Investors to Inquire About Securities Class Action Investigation
NEW YORK, June 18, 2025 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of GeneDx Holdings Corp. (NASDAQ: WGS) resulting from allegations that GeneDx may have issued materially misleading business information to the investing public. So What: If you purchased GeneDx securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses. What to do next: To join the prospective class action, go to or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. What is this about: On February 5, 2025, Grizzly Research published a report entitled 'Insiders Attest that GeneDx (Nasdaq: WGS) Is Actively Committing Widespread Fraud.' This report stated that Grizzly believed that GeneDx's 'growth is largely an illusion, driven by fraudulent schemes and illegal tactics deliberately aimed at exploiting Medicaid and Medicare systems to artificially inflate revenue.' On this news, GeneDx stock fell 6.7% on February 5, 2025. Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. At the time Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers. Follow us for updates on LinkedIn: , on Twitter: or on Facebook: . Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 [email protected] View original content to download multimedia: SOURCE THE ROSEN LAW FIRM, P. A.
