Core Viewpoint - Red Cat Holdings, Inc. is facing a class action lawsuit for alleged violations of the Securities Exchange Act of 1934, with claims of misleading statements regarding production capacity and contract values during the specified class period [1][3]. Company Overview - Red Cat Holdings, Inc. provides products and solutions to the drone industry, including the "Teal 2" drone designed for military operations [2]. Allegations of the Lawsuit - The lawsuit alleges that Red Cat overstated the production capacity of its Salt Lake City facility and the value of its Short Range Reconnaissance Program of Record Tranche 2 contract [3]. - On July 27, 2023, Red Cat disclosed that its Salt Lake City facility could only produce 100 drones per month, with potential future capacity of 1,000 drones per month contingent on additional investments [4]. - Following this announcement, Red Cat's stock price fell nearly 9% [4]. Financial Performance - On September 23, 2024, Red Cat reported a loss per share of $0.17, missing consensus estimates by $0.09, and revenue of $2.8 million, missing estimates by $1.07 million [5]. - The company admitted that retooling its Salt Lake City facility impacted Teal 2 sales, leading to a stock price drop of over 25% [5]. Additional Allegations - On January 16, 2025, a report from Kerrisdale Capital claimed that the SRR contract was smaller and less favorable than previously indicated by management, resulting in a stock price decline of more than 21% over two trading sessions [6]. Legal Process - Investors who purchased Red Cat securities during the class period can seek appointment as lead plaintiff in the class action lawsuit, which allows them to act on behalf of other class members [7].

Core Viewpoint - The Gross Law Firm is notifying shareholders of Red Cat Holdings, Inc. regarding a class action lawsuit due to alleged misleading statements and omissions related to the company's production capacity and contract values [1][2]. Group 1: Allegations - The complaint alleges that during the class period from March 18, 2022, to January 15, 2025, Red Cat Holdings made materially false and misleading statements [1]. - Specific allegations include overstating the production capacity of the Salt Lake City Facility and the overall value of the U.S. Army's Short Range Reconnaissance Program of Record Tranche 2 contract [1]. Group 2: Class Action Details - Shareholders who purchased shares of RCAT during the specified class period are encouraged to register for the class action, with a deadline of July 22, 2025, to seek lead plaintiff status [2]. - Participants will be enrolled in a portfolio monitoring software to receive updates on the case's progress [2]. Group 3: Law Firm's Mission - The Gross Law Firm aims to protect investors' rights and ensure companies adhere to responsible business practices [3]. - The firm seeks recovery for investors who suffered losses due to false or misleading statements that led to artificial inflation of stock prices [3].

Core Viewpoint - Investors in Red Cat Holdings, Inc. have until July 22, 2025, to file lead plaintiff applications in a securities class action lawsuit due to alleged failures in disclosing material information during the class period from March 18, 2022, to January 15, 2025 [1][3]. Group 1: Lawsuit Details - The lawsuit alleges that Red Cat and certain executives violated federal securities laws by failing to disclose material information during the class period [3]. - Kerrisdale Capital reported that Red Cat overstated the value of its SRR Contract, which was estimated to be worth only $20 million to $25 million based on U.S. Army budget documents [4]. - Following the news of the alleged overstatement, Red Cat's share price fell by $2.35, or 21.54%, closing at $8.56 per share on January 17, 2025 [5]. Group 2: Investor Information - ClaimsFiler provides a free service for shareholders to recover funds from securities class action settlements and offers resources for investors to submit claims [6]. - Investors can register for free on ClaimsFiler.com to access information about various securities class action cases and receive notifications about relevant cases [6].

Core Viewpoint - The article discusses a class action lawsuit against Red Cat Holdings, Inc. for alleged violations of the Securities Exchange Act of 1934, involving misleading statements about the company's production capacity and contract values [1][3]. Company Overview - Red Cat Holdings, Inc. operates in the drone industry, providing products such as the "Teal 2" drone, which is designed for military operations [2]. Allegations of the Lawsuit - The lawsuit claims that Red Cat and its executives made false statements regarding the production capacity of its Salt Lake City facility, overstating its capabilities [3]. - It is alleged that the overall value of Red Cat's Short Range Reconnaissance Program of Record Tranche 2 contract was also overstated [3]. Key Events Impacting Stock Price - On July 27, 2023, Red Cat disclosed that its Salt Lake City facility could only produce 100 drones per month, leading to a nearly 9% drop in stock price [4]. - Following the announcement of Q1 fiscal year 2025 results on September 23, 2024, which included a loss per share of $0.17 and revenue of $2.8 million, the stock price fell more than 25% [5]. - A report by Kerrisdale Capital on January 16, 2025, alleged that the SRR contract was less favorable than previously indicated, resulting in a more than 21% decline in stock price over two trading sessions [6]. Legal Process for Lead Plaintiff - Investors who purchased Red Cat securities during the class period can seek appointment as lead plaintiff, representing the interests of the class [7].

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $75,000 In Red Cat To Contact Him Directly To Discuss Their OptionsIf you suffered losses exceeding $75,000 in Red Cat between March 18, 2022 and January 15, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).[You may also click here for additional information]NEW YORK, June 4, 2025 /PRNewswire/ ...

Core Viewpoint - A securities class action lawsuit has been filed against Red Cat Holdings, Inc. for failing to disclose material information during the class period from March 18, 2022, to January 15, 2025, which is in violation of federal securities laws [1][3]. Group 1: Lawsuit Details - Investors who purchased Red Cat securities during the class period have until July 22, 2025, to file lead plaintiff applications [1][2]. - The lawsuit is pending in the United States District Court for the District of New Jersey [1]. - The case is identified as Olsen v. Red Cat Holdings, Inc., No. 25-cv-05427 [5]. Group 2: Allegations Against Red Cat - Red Cat and certain executives are accused of misleading investors regarding the value of the SRR Contract, which was reported to be worth only approximately $20 million to $25 million based on U.S. Army budget documents [4]. - Concerns have been raised about the production capacity of Red Cat's Salt Lake City Facility and the timing of executive departures and insider transactions following the announcement of the SRR Contract [4]. Group 3: Market Reaction - Following the news of the allegations, Red Cat's share price fell by $2.35, or 21.54%, closing at $8.56 per share on January 17, 2025 [5].

Core Viewpoint - Robbins LLP has initiated a class action lawsuit on behalf of investors who acquired Red Cat Holdings, Inc. (NASDAQ: RCAT) securities during the specified period, alleging that the company misled investors regarding its production capacity and the value of its contracts [1][2]. Allegations - The complaint asserts that Red Cat Holdings failed to disclose that the production capacity of its Salt Lake City Facility was overstated and that the value of the U.S. Army's Short Range Reconnaissance Program (SRR) Contract was also exaggerated [2]. - Kerrisdale Capital's report indicated that the SRR Contract was valued between $20 million and $25 million, contrary to Red Cat's claims, and raised concerns about misleading information regarding the Salt Lake City Facility's production capacity [3]. Stock Impact - Following the release of Kerrisdale Capital's report on January 16, 2025, Red Cat's stock price dropped by $2.35 per share, representing a decline of 21.54%, closing at $8.56 per share on January 17, 2025 [3]. Class Action Participation - Shareholders interested in serving as lead plaintiffs in the class action have until July 22, 2025, to apply for this status, although participation is not required to be eligible for recovery [4]. Company Background - Robbins LLP has been recognized for its efforts in shareholder rights litigation, focusing on helping shareholders recover losses and improve corporate governance since 2002 [5].

Core Viewpoint - A class action lawsuit has been filed against Red Cat Holdings, Inc. for allegedly making false statements regarding its production capacity and contract values, impacting investor confidence and stock prices [1][3][6]. Company Overview - Red Cat Holdings, Inc. operates in the drone industry, providing products such as the "Teal 2" drone designed for military operations [2]. Allegations of the Lawsuit - The lawsuit claims that Red Cat overstated the production capacity of its Salt Lake City facility and the value of its Short Range Reconnaissance Program contract [3]. - On July 27, 2023, Red Cat disclosed that its Salt Lake City facility could only produce 100 drones per month, with potential future capacity of 1,000 drones per month contingent on further investments [4]. - Following this announcement, Red Cat's stock price fell nearly 9% [4]. Financial Performance - On September 23, 2024, Red Cat reported a loss per share of $0.17 for Q1 fiscal year 2025, missing estimates by $0.09, and revenue of $2.8 million, missing estimates by $1.07 million [5]. - The company admitted that retooling its Salt Lake City facility and a pause in manufacturing impacted Teal 2 sales, leading to a stock price drop of over 25% [5]. Additional Allegations - On January 16, 2025, a report from Kerrisdale Capital claimed that the SRR contract was smaller and less favorable than previously indicated by management, leading to a stock price decline of more than 21% over two trading sessions [6].

Core Viewpoint - A class action lawsuit has been filed against Red Cat Holdings, Inc. and certain officers for alleged violations of federal securities laws during the Class Period from March 18, 2022, to January 15, 2025, seeking damages for misleading statements regarding the company's business and operations [1][7]. Group 1: Lawsuit Details - The class action was filed in the United States District Court for the District of New Jersey, seeking to recover damages for all persons and entities that purchased Red Cat securities during the Class Period [1]. - Investors have until July 22, 2025, to request to be appointed as Lead Plaintiff for the class [2]. Group 2: Company Operations - Red Cat, through its subsidiary Teal Drones, Inc., manufactures drones, including the "Teal 2," designed for military operations [4]. - The Salt Lake City Facility was claimed to have the capacity to produce "thousands of drones per month" or "tens of thousands of drones per year" [5]. Group 3: Contract and Financial Performance - In March 2022, Red Cat was selected by the U.S. Department of Defense to compete in the Short Range Reconnaissance Program, with the contract potentially worth hundreds of millions to over a billion dollars [6][7]. - During a conference call on July 27, 2023, it was revealed that the Salt Lake City Facility could only produce 100 drones per month, contradicting earlier claims [8]. - Following the disclosure of production capacity issues, Red Cat's stock price fell by 8.93% to close at $1.02 per share on July 28, 2023 [9]. - In Q1 2025, Red Cat reported losses per share of $0.17 and revenue of $2.8 million, missing consensus estimates [10]. - On November 19, 2024, Red Cat announced it had won the SRR Contract, with expectations of generating $50 million to $79.5 million in revenue during fiscal year 2025 [12]. Group 4: Allegations of Misleading Information - The lawsuit alleges that Red Cat's executives made materially false and misleading statements regarding the production capacity of the Salt Lake City Facility and the overall value of the SRR Contract [7]. - A report published by Kerrisdale Capital on January 16, 2025, claimed that the SRR Contract was worth only $20 million to $25 million, significantly lower than previously stated [13]. - Following the Kerrisdale Report, Red Cat's stock price fell by 21.54% to close at $8.56 per share on January 17, 2025 [14].

Core Viewpoint - A class action lawsuit has been filed against Red Cat Holdings, Inc. for alleged violations of securities laws, claiming the company made false and misleading statements regarding its production capacity and contract value, leading to investor losses [1][4]. Group 1: Lawsuit Details - The Schall Law Firm has initiated a class action lawsuit against Red Cat Holdings, Inc. for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 [1]. - The lawsuit targets investors who purchased Red Cat's securities between March 18, 2022, and January 15, 2025, encouraging them to contact the firm before July 22, 2025 [2]. - The class has not yet been certified, meaning potential class members are not currently represented by an attorney [3]. Group 2: Allegations Against Red Cat - The complaint alleges that Red Cat Holdings overstated the production capacity of its Salt Lake City facility and the value of its Short Range Reconnaissance Program of Record Tranche 2 contract [4]. - These misleading statements are claimed to have caused material misrepresentation throughout the class period, resulting in damages to investors when the truth was revealed [4].