Latest news with #RedCatHoldings
Associated Press
3 days ago
- Business
- Associated Press
Kaplan Fox Alerts Investors to a Securities Class Action Against Red Cat Holdings, Inc. (RCAT) - Deadline is July 22, 2025
NEW YORK, NY - May 29, 2025 ( NEWMEDIAWIRE ) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Red Cat Holdings, Inc. ('Red Cat' or the 'Company') (NASDAQ: RCAT) on behalf of investors that purchased or otherwise acquired Red Cat securities between March 18, 2022 and January 15, 2025, both dates inclusive (the 'Class Period'). CLICK HERE TO JOIN THE CASE If you are an investor in Red Cat and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing [email protected] or by calling (212) 329-8571. DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than July 22, 2025 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery. According to the complaint, 'Red Cat manufactures drones through its subsidiary Teal Drones, Inc. ('Teal') at a facility located in Salt Lake City, Utah ('Salt Lake Facility'). Throughout 2022, Defendants touted their development of the Salt Lake Facility's capacity to produce 'thousands of drones per month' or 'tens of thousands of drones' per year.' 'In March 2022, Red Cat announced that Teal had been selected by the U.S. Department of Defense's [] Defense Innovation Unit and the U.S. Army to compete in Tranche 2[] of the U.S. Army's Short Range Reconnaissance Program of Record ('SRR Program') . . . Defendants suggested or otherwise asserted that the SRR Program's Tranche 2 contract ('SRR Contract'') was worth potentially hundreds of millions to over a billion dollars in contract revenues.' 'On November 19, 2024, Red Cat issued a press release announcing that it had won the SRR Contract. On a subsequent conference call . . . Defendants continued to assert that the SRR Contract was worth potentially hundreds of millions of dollars, while expressing their confidence that Red Cat could realize up to $50 million to $79.5 million in revenue from the SRR Contract during its fiscal year 2025 alone.' 'Then, on January 16, 2025, Kerrisdale Capital ('Kerrisdale') published a report alleging, inter alia, that Defendants had overstated the value of the SRR Contract, which Kerrisdale found was only worth approximately $20 million to $25 million based on U.S. Army budget documents.' On this news, Red Cat's stock fell $2.35 per share, or 21.54%, over the following two trading sessions, to close at $8.56 per share on January 17, 2025. The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that (i) the Salt Lake City Facility's production capacity, and Defendants' progress in developing the same, was overstated; (ii) the overall value of the SRR Contract was overstated; and (iii) as a result, Defendants' public statements were materially false and misleading at all relevant times. WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. If you have any questions about this Notice, your rights, or your interests, please contact: CONTACT: Jeffrey P. Campisi KAPLAN FOX & KILSHEIMER LLP 800 Third Avenue, 38th Floor New York, New York 10022 (212) 329-8571 [email protected] Laurence D. King KAPLAN FOX & KILSHEIMER LLP 1999 Harrison Street, Suite 1560 Oakland, California 94612 (415) 772-4704 [email protected] Contacting or submitting information to Kaplan Fox & Kilsheimer LLP does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client. View the original release on
Yahoo
5 days ago
- Business
- Yahoo
Jim Cramer on Red Cat (RCAT): 'It's Not Making Any Money'
We recently published a list of . In this article, we are going to take a look at where Red Cat Holdings, Inc. (NASDAQ:RCAT) stands against other stocks that Jim Cramer discusses. Answering a caller's question about Red Cat Holdings, Inc. (NASDAQ:RCAT), Cramer remarked: 'No, no. Look, Red Cat is an absolute, this is a, it's got everything you want. It's got drones, it's got flight recorders, it's got this stuff. And you know what? It's just one darn crazy stock. But I'll tell you, it's not making any money. So right now you're going to have to go to another show. There's many shows, you can call in on them, and they'll say, Red Cat, Blue Cat, and go buy it.' Red Cat (NASDAQ:RCAT) provides drone-related products and services, including cloud-based software, analytics, and storage. Furthermore, the company supplies drones, parts, and advanced UAV technology for military, government, and commercial use. In February, Cramer commented: 'This one just happens to be a personal favorite of our chief scientist, Ben Stoto. We talk about Red Cat a lot. It's a data analytics company, and you know what? I'm going to tell you, you can buy it. You really can. Because if it doubled, you'd feel like an idiot for not buying Red Cat.' Overall, RCAT ranks 19th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of RCAT as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RCAT and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
5 days ago
- Business
- Yahoo
Jim Cramer on Red Cat (RCAT): 'It's Not Making Any Money'
We recently published a list of . In this article, we are going to take a look at where Red Cat Holdings, Inc. (NASDAQ:RCAT) stands against other stocks that Jim Cramer discusses. Answering a caller's question about Red Cat Holdings, Inc. (NASDAQ:RCAT), Cramer remarked: 'No, no. Look, Red Cat is an absolute, this is a, it's got everything you want. It's got drones, it's got flight recorders, it's got this stuff. And you know what? It's just one darn crazy stock. But I'll tell you, it's not making any money. So right now you're going to have to go to another show. There's many shows, you can call in on them, and they'll say, Red Cat, Blue Cat, and go buy it.' Red Cat (NASDAQ:RCAT) provides drone-related products and services, including cloud-based software, analytics, and storage. Furthermore, the company supplies drones, parts, and advanced UAV technology for military, government, and commercial use. In February, Cramer commented: 'This one just happens to be a personal favorite of our chief scientist, Ben Stoto. We talk about Red Cat a lot. It's a data analytics company, and you know what? I'm going to tell you, you can buy it. You really can. Because if it doubled, you'd feel like an idiot for not buying Red Cat.' Overall, RCAT ranks 19th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of RCAT as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than RCAT and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Associated Press
6 days ago
- Business
- Associated Press
INVESTOR ALERT: Class Action Lawsuit Filed on Behalf of Red Cat (RCAT) Investors – Holzer & Holzer, LLC Encourages Investors With Significant Losses to Contact the Firm
ATLANTA, May 27, 2025 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against Red Cat Holdings, Inc. ('Red Cat' or the 'Company') (NASDAQ: RCAT). The lawsuit alleges that Defendants made materially false and/or misleading statements and/or failed to disclose material adverse information, including allegations that: (i) the Salt Lake City Facility's production capacity, and Defendants' progress in developing the same, was overstated; (ii) the overall value of the SRR Contract was overstated; and (iii) as a result, Defendants' public statements were materially false and misleading at all relevant times. If you purchased shares of Red Cat between March 18, 2022 and January 15, 2025, and experienced a significant loss on that investment, you are encouraged to discuss your legal rights by contacting Corey D. Holzer, Esq. at [email protected], by toll-free telephone at (888) 508-6832, or by visiting the firm's website at for more information. The deadline to ask the court to be appointed lead plaintiff in the case is July 22, 2025. Holzer & Holzer, LLC, an ISS top rated securities litigation law firm for 2021, 2022, and 2023, dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. Since its founding in 2000, Holzer & Holzer attorneys have played critical roles in recovering hundreds of millions of dollars for shareholders victimized by fraud and other corporate misconduct. More information about the firm is available through its website, and upon request from the firm. Holzer & Holzer, LLC has paid for the dissemination of this promotional communication, and Corey Holzer is the attorney responsible for its content. CONTACT: Corey Holzer, Esq. (888) 508-6832 (toll-free) [email protected]
Associated Press
24-05-2025
- Business
- Associated Press
RCAT Investor Notice: Robbins LLP Informs Stockholders of the Red Cat Holdings, Inc. Class Action
SAN DIEGO, May 23, 2025 (GLOBE NEWSWIRE) -- Robbins LLP informs stockholders that a class action was filed on behalf of investors who purchased or otherwise acquired Red Cat Holdings, Inc. (NASDAQ: RCAT) securities between March 18, 2022 and January 15, 2025. Red Cat, together with its subsidiaries, provides various products, services, and solutions to the U.S. drone industry. For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Red Cat Holdings (RCAT) Misled Investors Regarding its Production Capacity According to the complaint, during the class period, defendants failed to disclose that: (i) the Salt Lake City Facility's production capacity, and defendants' progress in developing the same, was overstated; and (ii) the overall value of the SRR (U.S. Army's Short Range Reconnaissance Program of Record) Contract was overstated. The complaint alleges that on January 16, 2025, Kerrisdale Capital published a report alleging, inter alia, that defendants had overstated the value of the SRR Contract, which Kerrisdale found was only worth approximately $20 million to $25 million based on U.S. Army budget documents. The Kerrisdale Report also alleged that defendants had been misleading investors about the Salt Lake City Facility's production capacity for years, while also raising concerns about the timing of executive departures and insider transactions that took place shortly after Red Cat announced it had won the SRR Contract. On this news, Red Cat's stock price fell $2.35 per share, or 21.54%, over the following two trading sessions, to close at $8.56 per share on January 17, 2025. What Now: You may be eligible to participate in the class action against Red Cat Holdings, Inc. Shareholders who want to serve as lead plaintiff for the class have until July 22, 2025, to seek lead plaintiff status with the court. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Red Cat Holdings, Inc. settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome. A photo accompanying this announcement is available at
