NEW YORK, Oct. 26, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Cantaloupe, Inc. (CTLP, OTCMKTS: CTLPP), EyePoint Pharmaceuticals, Inc. (EYPT), F45 Training Holdings, Inc. (: FXLV), and PROG Holdings, Inc. (: PRG). 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.
Cantaloupe, Inc. (CTLP, OTCMKTS: CTLPP)
On September 28, 2022, the company issued a report stating, “Based on progress made to date in the assessments of the effectiveness of internal controls over financial reporting, the Company currently expects to report three material weaknesses in its internal control framework. This includes the design, implementation and operating effectiveness of information technology general controls in the areas of user access, change management and segregation of duties within various systems that support the Company’s accounting and reporting processes, the design, implementation and operating effectiveness of controls over revenue and related accounts, and risk assessment and monitoring activities with respect to identifying and evaluating control deficiencies in a timely manner.”
On this news, Cantaloupe stock fell $0.17 per share, or 4.6%, to close at $3.47 per share on September 29, 2022.
For more information on the Cantaloupe investigation go to: https://bespc.com/cases/CTLP
EyePoint Pharmaceuticals, Inc. ( EYPT)
On August 30, 2022, after market hours, EyePoint disclosed that it had received a subpoena from the US Attorney’s Office for the District of Massachusetts. The subpoena demanded documents covering the Company’s sales practices for its postoperative inflammation treatment, DEXYCU.
On this news, EyePoint stock fell $0.21 per share, or 2%, to close at $10.00 per share on August 31, 2022.
For more information on the EyePoint investigation go to: https://bespc.com/cases/EYPT
F45 Training Holdings, Inc. (: FXLV)
On or around July 15, 2021, F45 Training conducted its initial public offering (“IPO”), selling 18.75 million shares of stock priced at $16.00 per share.
Then, on July 26, 2022, F45 issued a press release entitled “F45 Training Announces Strategic Update”. In the press release, F45 Training provided updated 2022 revenue guidance in the range of $120 million to $130 million, down significantly from previous guidance of $255 million to $275 million, citing ongoing macroeconomic uncertainty. The press release further disclosed the departure of the Company’s Chief Executive Officer Adam J. Gilchrist and announced that the Company is “reducing its global workforce by approximately 110 employees.”
On this news, F45 Training’s stock price fell $2.16 per share, or 61.54%, to close at $1.35 per share on July 27, 2022.
For more information on the F45 investigation go to: https://bespc.com/cases/FXLV
PROG Holdings, Inc. (: PRG)
On August 25, 2022, Pennsylvania’s Attorney General filed a lawsuit against PROG’s Progressive Leasing unit for allegedly violating the Rental Purchase Agreement Act (“RPAA”), a law that requires companies to clearly disclose fees for rent-to-own financing. According to the lawsuit, agents of the Attorney General’s Office visited multiple stores across the state that use Progressive Leasing to offer rental-purchase agreements to their customers. “The investigation revealed widespread non-compliance” with the RPAA’s disclosure requirements by Progressive Leasing and its merchant partners, the Attorney General’s Office said in a statement.
On this news, PROG’s stock price fell $2.51 per share, or 12.14%, to close at $18.16 per share on August 26, 2022.
For more information on the PROG investigation go to: https://bespc.com/cases/PRG
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, 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. Previous results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, PC
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
[email protected]
www.bespc.com
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