Bragar Eagel & Squire, PC investigates Roblox, Agrify, CareDx and Medallion and… | Nation/World
NEW YORK, April 25, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Roblox Corp. (NYSE: RBLX), Agrify Corporation (NASDAQ: AGFY), CareDx, Inc. (NASDAQ: CDNA) and Medallion Financial Corp. (NASDAQ: MFIN). Our investigations focus on whether these companies have violated federal securities laws and/or engaged in other illegal business practices. Additional information on each case can be found at the link provided.
Roblox Corp. (NYSE:RBLX)
On February 3, 2022, The Bear Cave published a report alleging that Roblox’s online platform aimed at children aged six to fourteen is “also the main platform for pedophiles”. The report details various arrests and charges of sexual offenses against minor victims as young as five years old, while “[t]The company has engaged in litigation and intimidation to help cover up allegations of pedophilia on the platform. Additionally, Roblox’s head of security and moderation has been accused of ‘peculiar’ social media activity, including numerous ‘likes’ from sexualized cosplayers and following a ‘hairy porn’ account. and the former Roblox social media manager allegedly ran a porn blog while employed by the Company.
At this news, Roblox shares fell 8.5% during intraday trading on February 3, 2022.
For more information on the Roblox survey, visit: https://bespc.com/cases/RBLX
Agrify Corporation (NASDAQ:AGFY)
On December 16, 2021, during trading hours, market analyst Bonitas Research released a report regarding Agrify which alleges several issues within the company, including that “[w]We believe Agrify has created artificial demand for its product by funding undisclosed insiders of the company to act as independent customers. Further, the report alleges that “Agrify insiders lied to investors about the independence of its client base in order to execute a questionable stock promotion for personal enrichment at the expense of minority shareholders.”[,]” and that “[e]Evidence showed that five (5) of Agrify’s eight (8) customer announcements in 2021 involved either undisclosed company insiders or unlicensed and unproven operators.
At this news, Agrify’s common stock price fell sharply during intraday trading on December 16, 2021.
For more information on the Agrify survey, visit: https://bespc.com/cases/AGFY
CareDx, Inc. (NASDAQ: CDNA)
On January 25, 2021, the Company sold 1,923,077 common shares under a public offering at a public offering price of $91.00 per share.
On October 28, 2021, after the market closed, CareDx released third quarter 2021 financial results in which the company disclosed that the U.S. Department of Justice (“DOJ”) had recently served a Civil Investigation Request requesting documents in connection with an investigation into the False Claims Act. . The DOJ is investigating business practices related to CareDx’s renal testing and phlebotomy services. The Company also disclosed that it had received a subpoena from the United States Securities and Exchange Commission (“SEC”) for similar matters as well as certain accounting and reporting practices, and the Company received a request for information from an anonymous state agency.
On this news, the Company’s stock price fell $19.34 per share, or approximately 27.5%, from $70.34 per share to close at $51.00 per share on October 29. 2021.
For more information on the CareDx survey, visit: https://bespc.com/cases/CDNA
Medallion Financial Corp. (NASDAQ: MFIN)
On December 29, 2021, the SEC accused Medallion and its chairman and chief operating officer, Andrew Murstein, “of unlawfully engaging in two schemes in an attempt to reverse the company’s stock price plunge. “. Specifically, the two men had “engaged in illegal advertising by paying Ichabod’s Cranium and others to post positive stories about the company on various websites, including Huffington Post, Seeking Alpha and TheStreet.com.”
On this news, Medallion stock fell as much as 27% in intraday trading on December 29, 2021, hurting investors.
For more information on the Medallion survey, visit: https://bespc.com/cases/MFIN
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC 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, derivatives and other complex litigation before state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertisement. Prior results do not guarantee similar results.
Bragar Eagel & Squire, CP
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.