Core Viewpoint - PepGen Inc. is facing a class action lawsuit due to alleged misleading statements regarding its lead product candidate, PGN-EDO51, and the safety and efficacy of its clinical trials, which has resulted in significant stock price declines during the class period [3][4][5][6][7]. Group 1: Company Overview - PepGen Inc. is a clinical-stage biotechnology company focused on developing oligonucleotide therapeutics for severe neuromuscular and neurologic diseases, with PGN-EDO51 targeting Duchenne muscular dystrophy (DMD) as its lead product candidate [3]. Group 2: Allegations and Stock Performance - The class action lawsuit claims that PepGen made false or misleading statements about PGN-EDO51's safety and effectiveness, the adequacy of the CONNECT2 clinical trial, and the company's clinical and regulatory prospects [3]. - On July 30, 2024, PepGen reported "positive clinical data" from the CONNECT1 study, but the results were deemed disappointing by analysts, leading to a nearly 33% decline in stock price [4]. - On December 16, 2024, PepGen received a clinical hold notice from the FDA regarding the CONNECT2 study, causing further stock decline [5]. - On January 29, 2025, dosing in the CONNECT1 study was paused due to safety concerns, resulting in a stock decline of approximately 22% [6]. - On March 4, 2025, PepGen announced a voluntary temporary pause of the CONNECT2 study, leading to another stock drop of nearly 19% [7].

Core Viewpoint - Biohaven Ltd. is facing a class action lawsuit due to alleged false and misleading statements regarding its drug candidates, leading to significant stock price declines during the class period from March 24, 2023, to May 14, 2025 [1][4]. Company Overview - Biohaven is a biopharmaceutical company focused on therapies in immunology, neuroscience, and oncology, with key product candidates including troriluzole for spinocerebellar ataxia and BHV-7000 for bipolar disorder [3]. Allegations and Impact - The class action lawsuit claims that Biohaven overstated the regulatory prospects of troriluzole and the efficacy of BHV-7000, which misled investors and resulted in substantial financial losses [4][6]. - Specific disclosures that negatively impacted Biohaven's stock price include: - On July 27, 2023, the FDA refused to review the NDA for troriluzole, causing a nearly 23% drop in stock price [6]. - On March 3, 2025, disappointing clinical trial results for BHV-7000 led to a nearly 14% decline [6]. - On April 25, 2025, the withdrawal of the Marketing Authorization Application for troriluzole in Europe resulted in over a 15% drop [6]. - On May 14, 2025, the FDA extended the PDUFA date for the troriluzole NDA, causing a more than 19% decline in stock price [6].

Core Viewpoint - A class action lawsuit has been filed against Reckitt Benckiser Group PLC, alleging that the company made misleading statements regarding the health risks associated with its Enfamil infant formula, particularly for preterm infants [3][4]. Group 1: Class Action Details - The class action represents investors who purchased Reckitt Benckiser securities between January 13, 2021, and July 28, 2024, with a deadline for filing a lead plaintiff motion set for August 4, 2025 [1]. - The lawsuit claims that Reckitt Benckiser failed to disclose the increased risk of Necrotizing Enterocolitis (NEC) for preterm infants consuming its cow's milk-based formula [3]. Group 2: Legal Allegations and Impact - A jury found Mead Johnson, a subsidiary of Reckitt Benckiser, negligent in a case related to NEC, resulting in a $60 million verdict on March 15, 2024, which led to a nearly 14% drop in Reckitt Benckiser's American Depositary Shares (ADSs) [4]. - Following a related case that awarded $495 million in damages for NEC caused by a competing formula, Reckitt Benckiser's ADSs fell nearly 9% on July 29, 2024 [5]. Group 3: Company Background - Reckitt Benckiser is a U.K.-based global consumer goods company that acquired Mead Johnson Nutrition for $19.7 billion in 2017 [2].

Core Viewpoint - Broadmark Realty Capital Inc. is facing a class action lawsuit related to its merger with Ready Capital Corporation, alleging misleading statements in the proxy statement used for shareholder approval [3][4]. Company Overview - Broadmark Realty Capital Inc. and Ready Capital Corporation are classified as real estate investment trusts (REITs) [3]. Merger Details - The merger between Broadmark and Ready Capital was approved by Broadmark shareholders on May 30, 2023, and finalized on May 31, 2023 [3]. Allegations in the Lawsuit - The lawsuit claims that the proxy statement contained materially false and/or misleading statements and omitted key facts [3]. - Specific allegations include: 1. A significant portion of borrowers in Ready Capital's loan portfolio were experiencing financial distress due to rising interest rates, increasing their borrowing costs [5]. 2. An oversupply of multifamily properties in Ready Capital's core markets limited borrowers' ability to raise rents to offset growing debt obligations [5]. 3. A major development project, a Ritz-Carlton in Portland, Oregon, faced severe setbacks, including cost overruns, construction delays, and funding shortfalls, representing approximately $500 million of Ready Capital's acquired loan portfolio [5]. 4. Ready Capital's Current Expected Credit Loss (CECL) reserves and projected credit losses were significantly understated due to these issues [5]. 5. Financial projections from Ready Capital, including estimates of Distributable Earnings per share, dividends per share, and book value per share, lacked a reasonable basis when issued [5]. Legal Representation - The plaintiffs are represented by Robbins Geller Rudman & Dowd LLP, a firm experienced in prosecuting investor class actions involving financial fraud [4].

Core Viewpoint - Red Cat Holdings, Inc. is facing a class action lawsuit due to allegations of misleading statements regarding its production capacity and the value of its contracts, leading to significant stock price declines during the class period from March 18, 2022, to January 15, 2025 [1][3]. Group 1: Allegations and Misleading Statements - The lawsuit claims that Red Cat overstated the production capacity of its Salt Lake City facility and the potential of its Short Range Reconnaissance Program of Record Tranche 2 contract [3]. - On July 27, 2023, Red Cat revealed that its Salt Lake City facility could only produce 100 drones per month, which was a significant reduction from previously stated expectations [4]. - Following this disclosure, Red Cat's stock price fell nearly 9% [4]. Group 2: Financial Performance and Impact - On September 23, 2024, Red Cat reported a first-quarter fiscal year 2025 loss of $0.17 per share, missing expectations, and revenue of $2.8 million, which was $1.07 million below forecasts [5]. - The company admitted that retooling its Salt Lake City facility for high-volume production and pausing manufacturing of the Teal 2 directly impacted sales, resulting in a stock decline of over 25% [5]. Group 3: Further Developments and Stock Decline - On January 16, 2025, Kerrisdale Capital published a report questioning the validity of the SRR contract, stating it was smaller and less favorable than previously communicated [6]. - This report raised concerns about the feasibility of constructing a mass-production facility within two years with an investment of less than $1 million, leading to a stock decline of more than 21% over the following two trading sessions [6].