Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Instadose, Bright Health, and First Solar and Encourages Investors to Contact the Firm
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NEW YORK, Jan. 17, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Instadose Pharma Corp. (OTCMKTS: INSD), Bright Health Group, Inc. (NYSE: BHG), and First Solar, Inc. (NASDAQ: FSLR). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Instadose Pharma Corp. (OTCMKTS: INSD)
Class Period: December 8, 2020 – November 24, 2021
Lead Plaintiff Deadline: February 28, 2022
On November 23, 2021, the U.S. Securities and Exchange Commission (“SEC”) announced a temporary suspension in the trading of Instadose securities due to concerns regarding the adequacy and accuracy of information about the Company in the marketplace. The SEC specifically noted stock price and volume increases of Instadose stock unsupported by the Company’s assets and financial information, trading that may be associated with individuals related to a control person at the Company, and operations at the Company’s Canadian affiliate. On this news, the Company’s share price declined by $3.69 per share, or approximately 13%, from $28.30 per share to close at $24.61 per share on November 23, 2021, which was immediately before trading was halted.
On December 9, 2021, when the Company’s securities resumed trading, the stock price opened and closed at $2.00 per share.
For more information on the Instadose class action go to: https://bespc.com/cases/INSD
Bright Health Group, Inc. (NYSE: BHG)
Class Period: June 24, 2021 IPO; June 24, 2021 – November 10, 2021
Lead Plaintiff Deadline: March 7, 2022
In June 2021, Bright Health completed its initial public offering (“IPO”), selling approximately 51 million shares of common stock for $18.00 per share.
On November 11, 2021, Bright Health reported its third quarter financial results, revealing earnings per share (“EPS”) of -$0.48 as calculated under U.S. generally accepted accounting principles (“GAAP”), missing consensus estimates by $0.31. The Company also reported a sharp rise in the Company’s medical cost ratio (“MCR”), advising investors that its MCR “for the third quarter of 2021 was 103.0%, including a 540 basis point unfavorable impact from COVID-19 related costs and a 900 basis point unfavorable impact primarily from a cumulative reduction in premium revenue due to an inability to capture risk adjustment on newly added lives.”
On this news, Bright Health’s stock fell $2.36, or 32%, to close at $4.94 per share on November 11, 2021, thereby injuring investors.
For more information on the Bright Health class action go to: https://bespc.com/cases/BHG
First Solar, Inc. (NASDAQ: FSLR)
Class Period: February 22, 2019 – February 20, 2020
Lead Plaintiff Deadline: March 8, 2022
On January 15, 2020, Barclays reported that First Solar had “seemingly been, in large part, priced-out of the U.S. downstream solar market” and that the Company had concealed its rapidly declining market share through misleading financial reporting by including projects in its Project Development pipeline that had actually been completed in prior years.
On this news, First Solar’s stock fell $4.03, or 7%, to close at $54.75 per share on January 15, 2020, thereby injuring investors.
Then, on February 6, 2020, Barclays stated that, in an attempt to gain back its market share, First Solar was “bidding more aggressively, leading to lower [Project Development contract] prices, and finally cutting into margins.”
On this news, First Solar’s stock fell $0.45 to close at $52.65 per share on February 6, 2020, thereby injuring investors further.
Then, on February 20, 2020, First Solar announced that it was exploring a sale of its Project Development Business. The Company also disclosed that it was experiencing “challenges with regard to certain aspects of the overall cost per watt” and that it would not be realizing its cost per watt goals.
On this news, First Solar’s stock fell $8.73, or 15%, to close at $50.59 per share on February 21, 2020, thereby injuring investors further.
For more information on the First Solar class action go to: https://bespc.com/cases/FSLR
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 www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
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