NEW YORK, July 31, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Carvana Co. (: CVNA), Corcept Therapeutics, Inc. (CORT), Cassava Sciences, Inc. (SAVA), and Hannon Armstrong Sustainable Infrastructure Capital, Inc. (: HAS). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Caravan Co. (: CVNA)
On May 18, 2022, the Illinois Secretary of State’s office announced that Carvana’s license to sell vehicles in Illinois was suspended on May 10 due to the misuse of issuing out-of-state temporary registration permits and for failing to transfer titles. The Secretary of State’s office stated that vehicles that have already been purchased but not yet delivered can still be delivered to the purchasers during the suspension, but no new vehicle sales can occur in Illinois during the suspension order.
On this news, Carvana’s stock price fell $6.55 per share, or 15.75%, to close at $35.05 per share on May 18, 2022.
For more information on the Carvana investigation go to: https://bespc.com/cases/CVNA
Corcept Therapeutics, Inc. (COURT)
On December 8, 2021, Corcept disclosed in a filing with the US Securities and Exchange Commission that “[o]n November 15, 2021, the Company received a records subpoena from the US Attorney’s Office for the District of New Jersey (the ‘NJ USAO’) pursuant to Section 248 of the Health Insurance Portability and Accountability Act of 1996 (HIPAA) seeking information relating to the sale and promotion of Korlym, Corcept’s relationships with and payments to health care professionals who can prescribe or recommend Korlym and prior authorizations and reimbursement for Korlym.” Corcept further disclosed that “