NEW YORK, May 06, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Porch Group, Inc. (NASDAQ : PRCH), UpHealth, Inc. (NYSE: UPH), Core Scientific, Inc. (NASDAQ: CORZ) and Roblox Corp. (NYSE:RBLX). Our investigations focus on whether these companies have violated federal securities laws and/or engaged in other illegal business practices. Additional information on each case can be found at the link provided.
Porch Group, Inc. (NASDAQ:PRCH)
Porch Group is a vertical home software platform, providing software and services to home service businesses.
On March 1, 2022, after the market closed, Porch Group disclosed that it could not file its 2021 annual report in due time. The Company also disclosed that it had identified material weaknesses in its internal control over financial reporting.
On this news, Porch Group shares fell $0.87 per share, or about 12%, from $7.28 per share to close at $6.41 per share on March 2, 2022.
For more information on the Porch Group investigation, visit: https://bespc.com/cases/PRCH
UpHealth, Inc. (NYSE:UPH)
UpHealth, formerly Gigcapital2, Inc., is a global digital health company that provides technology, infrastructure and services to modernize care delivery and health management.
In a March 30, 2022 press release, UpHealth announced that “[o]On March 25, 2022, the Audit Committee of UpHealth’s Board of Directors, after reviewing management’s recommendations, concluded that the Company’s condensed consolidated financial statements included in the Company’s Quarterly Report on Form 10 -Q for the three and nine month periods ended September 30, 2021 (the “Non-Dependency Periods”) as previously filed with the [SEC] should not be relied upon because of the errors identified therein…” UpHealth also reported that “[t]The error that caused the Company to conclude that its financial statements and other financial information should not be relied upon for non-dependency periods was the result of an incorrect accounting conclusion regarding a contract with a customer, resulting in incorrect revenue recognition. during the period of non-dependence. »
On this news, the price of UpHealth shares declined $0.63 per share, or approximately 31.8%, from $1.98 per share to close at $1.35 per share on March 30, 2022.
For more information on the UpHealth survey, visit: https://bespc.com/cases/UPH
Core Scientific, Inc. (NASDAQ:CORZ)
On March 3, 2022, market analyst Culper Research released a report alleging, among other things, that Core Scientific “grossly oversold both its mining and hosting businesses, which it cobbled together in a series of dodgy deals. before jumping into the market via SPAC”. .” Additionally, the company had “waived the 180-day lock-up on more than 282 million shares, making them free to dump just 5 trading days” as of the report date, showing that “insiders have waived any claim to care about minority shareholders.”
On this news, Core Scientific stock fell $0.72, or 9%, to close at $6.98 on March 3, 2022, hurting investors.
For more information on the basic scientific investigation, go to: https://bespc.com/cases/CORZ
Roblox Corp. (NYSE:RBLX)
On February 3, 2022, The Bear Cave published a report alleging that Roblox’s online platform aimed at children aged six to fourteen is “also the main platform for pedophiles”. The report details various arrests and charges of sexual offenses against minor victims as young as five years old, while “[t]The company has engaged in litigation and intimidation to help cover up allegations of pedophilia on the platform. Additionally, Roblox’s head of security and moderation has been accused of ‘peculiar’ social media activity, including numerous ‘likes’ from sexualized cosplayers and following a ‘hairy porn’ account. and the former Roblox social media manager allegedly ran a porn blog while employed by the Company.
At this news, Roblox shares fell 8.5% during intraday trading on February 3, 2022.
For more information on the Roblox survey, visit: https://bespc.com/cases/RBLX
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, derivatives and other complex litigation before state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertisement. Prior results do not guarantee similar results.
Bragar Eagel & Squire, CP
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.