According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Companys failure to derive real revenue from third-party customers left it almost completely dependent on related parties; (2) as a result, most, if not all, of the Companys revenue came from related parties the Company created, funded, or controlled through its ownership and board seats; (3) the Company was misclassifying and underreporting related party revenue in order to conceal the Companys near total-dependence on related parties; (4) many of the Companys new R&D partners are undisclosed related parties and/or faades; (5) as a result, the Companys valuation was significant less than Defendants disclosed to investors; and (6) as a result, Defendants public statements were materially false and/or misleading at all relevant times.
Eligible SecurityIDs: 37611X100, G8354H126, KYG8354H1267, US37611X1000, BN6KXF0, BNQP3R7
For More information as well as to join this case please contact Atara Twersky, Esq. at atara@twerskylawgroup.com or atwersky@aftlaw.com. Atara is Principal at Twersky Law Group and Of counsel at AF&T law firm where she is director of Investor Services. Atara focuses her practice on assisting her clients with increasing their investment portfolio recoveries and ensuring that their portfolios remain healthy and robust. For more information on shareholder recoveries click here and to listen to Atara’s podcast with notable guests in the Pension fund Industry listen to Pension and Investments Podcast, on all matters related to your investment portfolio and more. For more information on Atara and her legal work connected to shareholder protection click here
