NEW YORK, Oct. 27, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against FedEx Corp. (NYSE: FDX), Cantaloupe, Inc. (NASDAQ: CTLP, OTCMKTS: CTLPP), Compass Minerals International, Inc. (NYSE: CMP), and EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT). 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.
FedEx Corp. (NYSE: FDX)
FedEx released its preliminary results for the first quarter on September 15, 2022. The Company warned of a global drop-off in its delivery business and is closing storefronts and putting off hiring staff to combat the drop. The Company also warned that it will miss targets on profitability and expects business conditions to worsen.
Based on this news, shares of FedEx cratered by more than 22% in intraday trading on September 16, 2022.
For more information on the FedEx investigation go to: https://bespc.com/cases/FDX
Cantaloupe, Inc. (NASDAQ: 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
Compass Minerals International, Inc. (NYSE: CMP)
On September 23, 2022, the US Securities and Exchange Commission (“SEC”) announced that Compass had been ordered to pay $12 million to settle charges for “misleading investors” by repeatedly assuring that a technology update at its most significant salt mine was “ on track to materially reduce costs and boost its operating results starting in 2018,” when, in reality, costs at the mine were increasing, “substantially [undermining] the projected savings.” Further, the SEC also noted that Compass overstated the amount of salt it was able to produce.
On this news, Compass’ stock fell $1.58, or 4.1%, to close at $36.88 per share on September 23, 2022.
For more information on the Compass investigation go to: https://bespc.com/cases/CMP
EyePoint Pharmaceuticals, Inc. (NASDAQ: 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
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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