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Business Wire
3 days ago
- Business
- Business Wire
Law Offices of Howard G. Smith Encourages Red Cat Holdings, Inc. (RCAT) Investors To Inquire About Securities Fraud Class Action
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Red Cat Holdings, Inc. ('Red Cat' or the 'Company') (NASDAQ: RCAT) securities between , inclusive (the 'Class Period'). Red Cat investors have until July 22, 2025 to file a lead plaintiff motion. IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN RED CAT HOLDINGS, INC. (RCAT), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT. Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@ by telephone at (215) 638-4847 or visit our website at What Happened? In March 2022, Red Cat announced that its subsidiary Teal Drones, Inc. ('Teal') had been selected to compete in Tranche 2 of the U.S. Army's Short Range Reconnaissance Program of Record (the 'SRR Program'). On July 27, 2023, Red Cat released its fiscal year 2023 financial results and revealed that its Salt Lake City Facility could only produce 100 drones per month and that construction of the facility was only 'substantially completed' and, while it could potentially reach a production capacity of one thousand drones per month over the next two to three years, it would require additional capital investments. On this news, Red Cat's stock price fell $0.10, or 8.9%, to close at $1.02 per share on July 28, 2023, thereby injuring investors. Then, on September 23, 2024, Red Cat released its first quarter fiscal 2025 financial results, missing consensus estimates and disclosing that it had spent 'the past four months . . . retooling [the Salt Lake City Facility] and preparing for high volume production[,]' while admitting that a 'pause in manufacturing of Teal 2 and building our Army prototypes impacted Teal 2 sales' because it 'couldn't produce and sell Teal 2 units while retooling [its] factory.' On this news, Red Cat's stock price fell $0.80, or 25.3%, over two consecutive trading days to close at $2.36 per share on September 25, 2024. Then, on November 19, 2024, Red Cat announced that it had won the SRR contract, stating that it was worth potentially hundreds of millions of dollars. However, on January 16, 2025, Kerrisdale Capital published a report alleging, among other things, that Red Cat had overstated that value of the SRR Contract and that it was worth approximately $20-25 million, based on U.S. Army budget documents. On this news, Red Cat's stock price fell $2.35, or 21.5%, over two consecutive trading days to close at $8.56 per share on January 17, 2025, thereby injuring investors further. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Salt Lake City Facility's production capacity, and Defendants' progress in developing the same, was overstated; (2) the overall value of the SRR Contract was overstated; and (3) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. Contact Us To Participate or Learn More: If you purchased Red Cat securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Law Offices of Howard G. Smith 3070 Bristol Pike, Suite 112 Bensalem, Pennsylvania 19020 Telephone: (215) 638-4847 Email: howardsmith@ Visit our website at: This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Business Wire
4 days ago
- Business
- Business Wire
Red Cat Holdings, Inc. (RCAT) Investors Who Lost Money – Contact Law Offices of Howard G. Smith About Securities Fraud Investigation
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Red Cat Holdings, Inc. ('Red Cat' or the 'Company') (NASDAQ: RCAT) investors concerning the Company's possible violations of federal securities laws. IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN RED CAT HOLDINGS, INC. (RCAT), CONTACT THE LAW OFFICES OF HOWARD G. SMITH ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS. Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@ by telephone at (215) 638-4847 or visit our website at What Happened? In March 2022, Red Cat announced that its subsidiary Teal Drones, Inc. ('Teal') had been selected to compete in Tranche 2 of the U.S. Army's Short Range Reconnaissance Program of Record (the 'SRR Program'). On July 27, 2023, Red Cat released its fiscal year 2023 financial results and revealed that its Salt Lake City Facility could only produce 100 drones per month and that construction of the facility was only 'substantially completed' and, while it could potentially reach a production capacity of one thousand drones per month over the next two to three years, it would require additional capital investments. On this news, Red Cat's stock price fell $0.10, or 8.9%, to close at $1.02 per share on July 28, 2023, thereby injuring investors. Then, on September 23, 2024, Red Cat released its first quarter fiscal 2025 financial results, missing consensus estimates and disclosing that it had spent 'the past four months . . . retooling [the Salt Lake City Facility] and preparing for high volume production[,]' while admitting that a 'pause in manufacturing of Teal 2 and building our Army prototypes impacted Teal 2 sales' because it 'couldn't produce and sell Teal 2 units while retooling [its] factory.' On this news, Red Cat's stock price fell $0.80, or 25.3%, over two consecutive trading days to close at $2.36 per share on September 25, 2024. Then, on November 19, 2024, Red Cat announced that it had won the SRR contract, stating that it was worth potentially hundreds of millions of dollars. However, on January 16, 2025, Kerrisdale Capital published a report alleging, among other things, that Red Cat had overstated that value of the SRR Contract and that it was worth approximately $20-25 million, based on U.S. Army budget documents. On this news, Red Cat's stock price fell $2.35, or 21.5%, over two consecutive trading days to close at $8.56 per share on January 17, 2025, thereby injuring investors further. Contact Us To Participate or Learn More: If you purchased Red Cat securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, Telephone: (215) 638-4847 Email: howardsmith@ Visit our website at: This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Business Wire
4 days ago
- Business
- Business Wire
Deadline Approaching: DoubleVerify Holdings, Inc. (DV) Investors Who Lost Money Urged To Contact Law Offices of Howard G. Smith
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming July 21, 2025 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased DoubleVerify Holdings, Inc. ('DoubleVerify' or the 'Company') (NYSE: DV) common stock between , inclusive (the 'Class Period'). IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN DOUBLEVERIFY HOLDINGS, INC. (DV), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT. Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@ by telephone at (215) 638-4847 or visit our website at What Happened? On May 7, 2024, DoubleVerify released its first quarter 2024 financial results and reduced its 2024 revenue guidance, disclosing that there had been a pullback in customer spending on advertising. On this news, DoubleVerify's stock price fell $11.79, or 38.6%, to close at $18.78 per share on May 8, 2024, thereby injuring investors. Then, on February 27, 2025, DoubleVerify reported lower-than-expected fourth quarter 2024 sales and earnings due in part to reduced customer spending. The Company also disclosed that the shift of ad dollars from open exchanges to closed platforms was having a negative impact on the Company. On this news, DoubleVerify's stock price fell $7.83, or 36%, to close at $13.90 per share on February 28, 2025. Then, on March 28, 2025, Adalytics Research, LLC published a report alleging, among other things, that DoubleVerify's web advertisement verification and fraud protection services were ineffective and that its customers were regularly billed for ad impressions served to bots. The same day, The Wall Street Journal reported that DoubleVerify regularly missed detection of nonhuman traffic despite the Company's claims that it helps brands avoid serving ads to nonhuman bot accounts. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) DoubleVerify's customers were shifting their ad spending from open exchanges to closed platforms, where the Company's technological capabilities were limited and competed directly with native tools provided by platforms like Meta Platforms and Amazon; (2) DoubleVerify's ability to monetize on its Activation Services was limited because the development of its technology for closed platforms was significantly more expensive and time-consuming than disclosed to investors; (3) DoubleVerify's Activation Services in connection with certain closed platforms would take several years to monetize; (4) DoubleVerify's competitors were better positioned to incorporate AI into their offerings on closed platforms, which impaired DoubleVerify's ability to compete effectively and adversely impacted the Company's profits; (5) DoubleVerify systematically overbilled its customers for ad impressions served to declared bots operating out of known data center server farms; (6) DoubleVerify's risk disclosures were materially false and misleading because they characterized adverse facts that had already materialized as mere possibilities; and (7) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you purchased or otherwise acquired DoubleVerify common stock during the Class Period, you may move the Court no later than July 21, 2025 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. Contact Us To Participate or Learn More: If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, Telephone: (215) 638-4847 Email: howardsmith@ Visit our website at: To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Business Wire
7 days ago
- Business
- Business Wire
Semler Scientific Inc. (SMLR) Investors Who Lost Money – Contact Law Offices of Howard G. Smith About Securities Fraud Investigation
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Semler Scientific Inc. ('Semler' or the 'Company') (NASDAQ: SMLR) investors concerning the Company's possible violations of federal securities laws. IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN SEMLER SCIENTIFIC INC. (SMLR), CONTACT THE LAW OFFICES OF HOWARD G. SMITH ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS. Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@ by telephone at (215) 638-4847 or visit our website at What Happened? On February 28, 2025, Semler filed its annual report for full year 2024 and disclosed that "there is a risk that [U.S. Department of Justice ('DOJ')] will file a complaint or complaint in intervention in a civil False Claims Act lawsuit seeking damages." The Company also revealed it had received an initial civil investigative demand from the DOJ in July 2017 regarding Semler's claims for reimbursement related to its peripheral artery disease QuantaFlo device. The Company further stated that it had participated in settlement discussions with the DOJ in February 2025, which were unsuccessful. On this news, Semler's stock price fell $4.03, or 9.4%, to close at $38.89 per share on March 3, 2025, thereby injuring investors. Contact Us To Participate or Learn More: If you purchased Semler securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, Telephone: (215) 638-4847 Email: howardsmith@ Visit our website at: This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Business Wire
23-05-2025
- Business
- Business Wire
Deadline Approaching: MicroStrategy Incorporated (MSTR) Investors Who Lost Money Urged To Contact Law Offices of Howard G. Smith
BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming July 15, 2025 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased MicroStrategy Incorporated d/b/a Strategy ('Strategy' or the 'Company') (NASDAQ: MSTR) securities between , inclusive (the 'Class Period'). MICROSTRATEGY INCORPORATED (MSTR), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT. Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@ by telephone at (215) 638-4847 or visit our website at What Happened? On April 7, 2025, Strategy disclosed that, following its adoption of Accounting Standards Update No. 2023-08 ('ASU 2023-08'), which requires publicly traded companies to measure their crypto assets at fair value in their financial statements, it recognized a $5.91 billion unrealized loss on its digital assets for the first quarter 2025. The Company warned that it 'may not be able to regain profitability in future periods, particularly if [it] incur[s] significant unrealized losses related to [its] digital assets.' On this news, Strategy's stock price fell $25.47, or 8.7%, to close at $268.14 per share on April 7, 2025, thereby injuring investors. Then, on May 1, 2025, Strategy released its first quarter 2025 financial results, confirming that it had recorded an unrealized fair value loss on digital assets of approximately $5.9 billion due to applying a fair value accounting methodology to Strategy's bitcoin assets following bitcoin's depreciation in value during the first quarter of 2025. What Is The Lawsuit About? The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the anticipated profitability of the Company's bitcoin-focused investment strategy and treasury operations was overstated; (2) the various risks associated with bitcoin's volatility and the magnitude of losses Strategy could recognize on the value of its digital assets following its adoption of ASU 2023-08 were understated; and (3) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times. If you purchased or otherwise acquired Strategy securities during the Class Period, you may move the Court no later than July 15, 2025 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. Contact Us To Participate or Learn More: If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, Telephone: (215) 638-4847 Email: howardsmith@ Visit our website at: To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
