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Business Wire
21-07-2025
- Business
- Business Wire
Deadline Soon: Red Cat Holdings, Inc. (RCAT) Investors Who Lost Money Urged to Contact The Law Offices of Frank R. Cruz About Securities Fraud Lawsuit
LOS ANGELES--(BUSINESS WIRE)-- The Law Offices of Frank R. Cruz reminds investors of the upcoming July 22, 2025 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired Red Cat Holdings, Inc. ('Red Cat' or the 'Company') (NASDAQ: RCAT) securities between , inclusive (the 'Class Period'). IF YOU ARE AN INVESTOR WHO LOST MONEY ON RED CAT HOLDINGS, INC. (RCAT), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT. 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. If you purchased or otherwise acquired Red Cat securities between March 18, 2022 and January 15, 2025, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is July 22, 2025. 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 the pending class action lawsuit, please contact us: Frank R. Cruz The Law Offices of Frank R. Cruz 2121 Avenue of the Stars, Suite 800 Century City, California 90067 Email us at: info@ Call us at: 310-914-5007 Visit our website at Follow us for updates on Twitter: If you inquire by email, please include your mailing address, telephone number, and number of shares purchased. 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 Upturn
16-07-2025
- Business
- Business Upturn
RED CAT DEADLINE ALERT: Bragar Eagel & Squire, P.C. Urges Investors in Red Cat Holdings, Inc. (RCAT) to Inquire About Their Rights in Class Action Lawsuit
Bragar Eagel & Squire, P.C. Litigation Partner Brandon Walker Encourages Investors Who Suffered Losses In Red Cat (RCAT) To Contact Him Directly To Discuss Their Options If you purchased or acquired securities in Red Cat between March 18, 2022 and January 15, 2025 and would like to discuss your legal rights, call Bragar Eagel & Squire partner Brandon Walker or Marion Passmore directly at (212) 355-4648. NEW YORK, July 15, 2025 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Red Cat Holdings, Inc. ('Red Cat' or the 'Company') (NASDAQ: RCAT) in the United States District Court for the District of New Jersey on behalf of all persons and entities who purchased or otherwise acquired Red Cat securities between March 18, 2022 and January 15, 2025, both dates inclusive (the 'Class Period'). Investors have until July 22, 2025 to apply to the Court to be appointed as lead plaintiff in the lawsuit. Click here to participate in the action. Red Cat, together with its subsidiaries, provides products and solutions to drone industry. Red Cat's products include, among others, the 'Teal 2' drone, a small, unmanned aircraft system designed to purportedly 'Dominate the Night' during nighttime military operations. The Red Cat class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Red Cat's Salt Lake City facility's production capacity, and defendants' progress in developing the same, was overstated; and (ii) the overall value of Red Cat's Short Range Reconnaissance Program of Record Tranche 2 contract (the 'SRR Contract') was overstated. The Red Cat class action lawsuit further alleges that on July 27, 2023, Red Cat revealed that its Salt Lake City facility could only currently produce 100 drones per month, the facility was still being built, refined, and expanded, and that construction of the facility was only 'substantially completed' and potentially could reach a production capacity of 1,000 drones per month over the next 2 to 3 years, but only with additional capital investments and manufacturing efficiencies realized. On this news, the price of Red Cat stock fell nearly 9%, according to the complaint. Then, on September 23, 2024, the Red Cat class action lawsuit further alleges that Red Cat announced its financial results for the first quarter of fiscal year 2025, reporting losses per share of $0.17, missing consensus estimates by $0.09, and revenue of $2.8 million, missing consensus estimates by $1.07 million. According to the complaint, Red Cat further disclosed that Red Cat 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 Army prototypes impacted Teal 2 sales' because, among other things, Red Cat 'couldn't produce and sell Teal 2 units while retooling [its] factory.' The Red Cat class action lawsuit alleges that on this news, the price of Red Cat stock fell more than 25%. Finally, the Red Cat class action lawsuit further alleges that on January 16, 2025, Kerrisdale Capital published a report alleging that '[t]he SRR contract that Red Cat won in November and preemptively announced without the Army's permission is much smaller and less favorable than management as intimated,' and that '[i]t's highly implausible that a mass-production facility for manufacturing drones has been built at any point in the last two years for less than $1 million.' On this news, the price of Red Cat stock fell more than 21% over two trading sessions, according to the complaint. If you purchased or otherwise acquired Red Cat shares and suffered a loss, are a long-term stockholder, have information, 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 Brandon Walker or Marion Passmore by email at [email protected], telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you. 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 . Attorney advertising. Prior results do not guarantee similar outcomes. Follow us for updates on LinkedIn, X, and Facebook, and keep up with other news by following Brandon Walker, Esq. on LinkedIn and X. Contact Information: Bragar Eagel & Squire, Walker, Passmore, Esq.(212) 355-4648 [email protected]
Business Upturn
22-06-2025
- Business
- Business Upturn
INVESTOR DEADLINE: Robbins Geller Rudman & Dowd LLP Announces that Red Cat Holdings, Inc. (RCAT) Investors with Substantial Losses Have Opportunity to Lead Investor Class Action Lawsuit
SAN DIEGO, June 22, 2025 (GLOBE NEWSWIRE) — The law firm of Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Red Cat Holdings, Inc. (NASDAQ: RCAT) securities between March 18, 2022 and January 15, 2025, inclusive (the 'Class Period'), have until Tuesday, July 22, 2025 to seek appointment as lead plaintiff of the Red Cat class action lawsuit. Captioned Olsen v. Red Cat Holdings, Inc. , No. 25-cv-05427 (D.N.J.), the Red Cat class action lawsuit charges Red Cat as well as certain of Red Cat's top current and former executives with violations of the Securities Exchange Act of 1934. If you suffered substantial losses and wish to serve as lead plaintiff of the Red Cat class action lawsuit, please provide your information here: You can also contact attorneys J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected]. CASE ALLEGATIONS: Red Cat, together with its subsidiaries, provides products and solutions to drone industry. Red Cat's products include, among others, the 'Teal 2' drone, a small, unmanned aircraft system designed to purportedly 'Dominate the Night' during nighttime military operations. The Red Cat class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Red Cat's Salt Lake City facility's production capacity, and defendants' progress in developing the same, was overstated; and (ii) the overall value of Red Cat's Short Range Reconnaissance Program of Record Tranche 2 contract (the 'SRR Contract') was overstated. The Red Cat class action lawsuit further alleges that on July 27, 2023, Red Cat revealed that its Salt Lake City facility could only currently produce 100 drones per month, the facility was still being built, refined, and expanded, and that construction of the facility was only 'substantially completed' and potentially could reach a production capacity of 1,000 drones per month over the next 2 to 3 years, but only with additional capital investments and manufacturing efficiencies realized. On this news, the price of Red Cat stock fell nearly 9%, according to the complaint. Then, on September 23, 2024, the Red Cat class action lawsuit further alleges that Red Cat announced its financial results for the first quarter of fiscal year 2025, reporting losses per share of $0.17, missing consensus estimates by $0.09, and revenue of $2.8 million, missing consensus estimates by $1.07 million. According to the complaint, Red Cat further disclosed that Red Cat 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 Army prototypes impacted Teal 2 sales' because, among other things, Red Cat 'couldn't produce and sell Teal 2 units while retooling [its] factory.' The Red Cat class action lawsuit alleges that on this news, the price of Red Cat stock fell more than 25%. Finally, the Red Cat class action lawsuit further alleges that on January 16, 2025, Kerrisdale Capital published a report alleging that '[t]he SRR contract that Red Cat won in November and preemptively announced without the Army's permission is much smaller and less favorable than management as intimated,' and that '[i]t's highly implausible that a mass-production facility for manufacturing drones has been built at any point in the last two years for less than $1 million.' On this news, the price of Red Cat stock fell more than 21% over two trading sessions, according to the complaint. THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Red Cat securities during the Class Period to seek appointment as lead plaintiff in the Red Cat class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Red Cat class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Red Cat class action lawsuit. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Red Cat class action lawsuit. ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world, and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information: Past results do not guarantee future outcomes. Services may be performed by attorneys in any of our offices. Contact: Robbins Geller Rudman & Dowd LLP J.C. Sanchez, Jennifer N. Caringal 655 W. Broadway, Suite 1900, San Diego, CA 92101 800-449-4900 [email protected]
Business Wire
05-06-2025
- Business
- Business Wire
Deadline Alert: Red Cat Holdings, Inc. (RCAT) Investors Who Lost Money Urged To Contact Glancy Prongay & Murray LLP About Securities Fraud Lawsuit
LOS ANGELES--(BUSINESS WIRE)-- Glancy Prongay & Murray LLP reminds investors of the upcoming July 22, 2025 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Red Cat Holdings, Inc. ('Red Cat' or the 'Company') (NASDAQ: RCAT) securities between , inclusive (the 'Class Period'). IF YOU SUFFERED A LOSS ON YOUR RED CAT INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS. 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. If you purchased or otherwise acquired Red Cat securities during the Class Period, you may move the Court no later than July 22, 2025 to request appointment as lead plaintiff in this putative class action lawsuit. Contact Us To Participate or Learn More: If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us: Charles Linehan, Esq., Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles California 90067 Email: shareholders@ Telephone: 310-201-9150, Toll-Free: 888-773-9224 Visit our website at Follow us for updates on LinkedIn, Twitter, or Facebook. If you inquire by email, please include your mailing address, telephone number and number of shares purchased. 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
04-06-2025
- Business
- Business Wire
Deadline Approaching: Red Cat Holdings, Inc. (RCAT) 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 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Red Cat Holdings, Inc. ('Red Cat' or the 'Company') (NASDAQ: RCAT) securities between March 18, 2022 and January 15, 2025, inclusive (the 'Class Period'). 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. If you purchased or otherwise acquired Red Cat securities during the Class Period, you may move the Court no later than July 22, 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.
