Bragar Eagel & Squire, P.C., a nationally acknowledged shareholder rights legislation agency, is investigating potential claims in opposition to Hollysys Automation Applied sciences Ltd. (NASDAQ: HOLI), Cronos Group, Inc. (NASDAQ: CRON), and Talkspace, Inc. (NASDAQ: TALK). Our investigations concern whether or not these firms have violated the federal securities legal guidelines andor engaged in different illegal enterprise practices. Extra details about every case might be discovered on the hyperlink offered.
Hollysys Automation Applied sciences Ltd. (NASDAQ: HOLI)
On November 2, 2021, Hollysys filed a discover with the U.S. Securities and Alternate Fee stating that the Firm couldn’t well timed file its annual report for the interval ended June 30, 2021 due to a “delay in gathering supporting paperwork and data.” Hollysys additionally disclosed that it had changed Ernst & Younger Hua Ming LLP as its impartial auditor.
On this information, Hollysys’s inventory worth fell $5.69 per share, or 29%, to shut at $13.70 per share on November 3, 2021.
For extra info on the Hollysys investigation go to: https://bespc.com/cases/HOLI
Cronos Group, Inc. (NASDAQ: CRON)
On November 9, 2021, Cronos filed a Kind 8-Ok with the U.S. Securities and Alternate Fee, stating that “[o]n November 8, 2021, Cronos Group Inc. . . . decided that it is going to be required to restate its beforehand issued unaudited interim monetary statements for the three and 6 months ended June 30, 2021 beforehand filed on Kind 10-Q on August 6, 2021” and advising that “[t]he Firm’s monetary statements for this era ought to due to this fact not be relied upon.” Cronos additional acknowledged that “[t]he Firm concluded that it ought to have recorded an impairment cost of not lower than $220 million on goodwill and indefinite-lived intangible belongings in its U.S. reporting unit for the three and 6 months ended June 30, 2021. The Firm will restate its unaudited interim monetary statements for the three and 6 months ended June 30, 2021, accordingly.” In keeping with Cronos, the Firm “can also be evaluating whether or not to document an extra impairment within the three and 9 months ended September 30, 2021.”
On this information, Cronos’s inventory worth fell $1.01 per share, or 15.05%, to shut at $5.70 per share on November 9, 2021.
For extra info on the Cronos Group investigation go to: https://bespc.com/cases/CRON
Talkspace, Inc. (NASDAQ: TALK)
On November 15, 2021, post-market, Talkspace issued a press launch “announc[ing] . . . that its co-founder and CEO, Oren Frank, has determined to step down from his place as CEO and Board member of Talkspace, efficient right now.” Shortly thereafter on the identical day, Talkspace issued a press launch reporting its monetary outcomes for the third quarter of 2021. Amongst different gadgets, Talkspace disclosed that its web income for the quarter “got here in beneath administration expectations because of a decrease variety of B2C [business-to-consumer] prospects and a one-time non-cash reserve adjustment for credit score losses on receivables associated to prior durations.”
On this information, the Firm’s share worth declined by $1.23 per share, or roughly 36.3%, from $3.39 per share to shut at $2.16 per share on November 16, 2021.
For extra info on the Talkspace investigation go to: https://bespc.com/cases/TALK
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally acknowledged legislation agency with workplaces in New York, California, and South Carolina. The agency represents particular person and institutional buyers in business, securities, spinoff, and different complicated litigation in state and federal courts throughout the nation. For extra details about the agency, please go to www.bespc.com . Legal professional promoting. Prior outcomes don’t assure related outcomes.
Contact Info:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
[email protected]
www.bespc.com
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