Latest news with #TealDrones
Associated Press
a day ago
- Business
- Associated Press
Kaplan Fox Encourages Investors of Red Cat Holdings, Inc. (RCAT) to Contact the Firm Before Lead Plaintiff Deadline on July 22, 2025
NEW YORK, NY - May 31, 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.
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
Globe and Mail
6 days ago
- Business
- Globe and Mail
Red Cat Partners with ESAero to Support Manufacturing for Teal's Black Widow™
SAN JUAN, Puerto Rico, May 27, 2025 (GLOBE NEWSWIRE) -- Red Cat Holdings, Inc. (Nasdaq: RCAT) ("Red Cat"), a drone technology company integrating robotic hardware and software for military, government, and commercial operations, today announced a partnership with ESAero to provide critical AS9100 manufacturing capacity for the Black Widow sUAS and its subsystems. The AS9100 standard ensures a manufacturer has a quality management system in place to meet the stringent requirements of the aerospace industry. Teal Drones is a wholly owned subsidiary of Red Cat Holdings. The company's Black Widow drone is a small unmanned aerial system (sUAS) designed for short-range reconnaissance (SRR) missions. The system, which was down selected for the U.S. Army's SRR Program of Record contract, provides military operators with improved situational awareness, autonomous capabilities, and rugged performance in contested environments. 'As we ramp up production of the Black Widow to fulfill our SRR contracts and meet growing demand from U.S. and international customers, securing high-quality, aerospace-certified manufacturing capacity is critical,' said Jeff Thompson, Red Cat CEO. 'ESAero's facilities, combined with their deep engineering expertise, make them an ideal partner for Red Cat. This collaboration supports our ability to scale manufacturing, focus on continuous improvement, and deliver mission-ready sUAS platforms to the warfighters that depend on them.' ESAero is committed to supporting Red Cat's mission of delivering high-quality Made-in-America sUAS to its customers and the warfighter. With multiple AS9100-certified manufacturing facilities located in San Luis Obispo, CA, ESAero is well-positioned to enhance the production throughput of Teal's technologies for key customers. ESAero's vertically integrated facilities and robust supply chain are perfectly suited to bolster the production of components and subsystems for Black Widow in a schedule-driven manner. 'We have had a great relationship with Red Cat over the past year and a half supporting various developments, including the Teal 2 and Black Widow,' said Andrew Gibson, President, CEO, and Co-Founder of ESAero. 'During this time, we have made significant investments in our manufacturing capability for producing Group I – III UAS at scale, which we are thrilled to now provide to Red Cat and Teal. We believe this partnership will effectively and efficiently provide Teal the capacity they need to meet the production needs of their customers and the warfighter.' Red Cat and ESAero recognize the importance of strong partnerships within America's industrial base to meet the critical production needs of the warfighter. By combining Teal's core technology with ESAero's proven ability to scale production of advanced systems, Black Widow will be well positioned to be deployed rapidly and reliably. About Red Cat Holdings, Inc. Red Cat (Nasdaq: RCAT) is a drone technology company integrating robotic hardware and software for military, government, and commercial operations. Through two wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, Red Cat has developed a leading-edge Family of Systems. This includes the flagship Black Widow™, a small unmanned ISR system that was awarded the U.S. Army's Short Range Reconnaissance (SRR) Program of Record contract. The Family of Systems also includes TRICHON™, a fixed wing VTOL for extended endurance and range, and FANG™, the industry's first line of NDAA compliant FPV drones optimized for military operations with precision strike capabilities. Learn more at About Empirical Systems Aerospace, Inc. (ESAero) ESAero produces Unmanned Aerial Systems (UAS) and advanced aerospace technologies for commercial and military applications. An established leader in the field, ESAero has been demonstrating for decades its core competencies in the design and manufacturing of innovative, reliable, and scalable aircraft systems including power and battery management systems. Based in San Luis Obispo, California, ESAero provides vertically integrated AS9100 certified services in R&D, engineering, design for manufacturing, rapid prototyping, testing, and serialized production expanding in the thousands. With over 130,000 ESAero has the capacity, capability, and facilities to scale and accelerate manufacturing to support its partners and customers. Forward Looking Statements This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on Red Cat Holdings, Inc.'s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled "Risk Factors" in the Form 10-K filed with the Securities and Exchange Commission on July 27, 2023. Forward-looking statements contained in this announcement are made as of this date, and Red Cat Holdings, Inc. undertakes no duty to update such information except as required under applicable law. Contact: INVESTORS: E-mail: Investors@ NEWS MEDIA:
Yahoo
09-05-2025
- Business
- Yahoo
We Talk About The U.S. Army's New Black Widow Short-Range Recon Drone With Red Cat
Red Cat, which owns Teal Drones and Flightwave, gave us a briefing on their Black Widow short-range recon drone that the Army selected just recently, as well as the longer-range Edge-130, on the floor of Special Operations Forces Week 2025 in Tampa, Florida. Both of these systems have the ability to leverage artificial intelligence and cooperative operations, which are increasingly looking to become a game changer on future battlefields. Check it out: Contact the author: Tyler@
