Vincent Wong Law Offices recently reminded certain shareholders about the commencement of important class actions. The law offices said that anyone who has suffered a loss and wants the court to appoint them as a lead plaintiff has until the lead-plaintiff’s deadline. There won’t be any cost or obligation to them.
Romeo Power (NYSE: RMO)
June 15, 2021, is the Lead Plaintiff Deadline
October 5, 2020, to March 30, 2021, is the Class Period
The allegations against this company include that:
1. Romeo didn’t have four battery cell suppliers; they only had two.
2. When the Defendants warned them about the future potential risks concerning supply shortage and disruption, these risks had already happened. They were already negatively impacting the operations and business prospects of the company.
3. The company lacked a battery cell inventory that ramp up this year’s production and accommodate end-user demand
4. The supply constraint of the company was a significant hindrance to the company’s growth
5. The company didn’t have a hedged battery cell supply chain. Instead, it was completely beholden and at risk to just a pair of battery cell suppliers alongside their 2021 spot market inventory. Given how the company’s supply was constrained during the Class Period, the Defendants could not reasonably know whether Romeo was able to meet customer demands as well as whether they could support its 2021 growth revenue.
Frequency Therapeutics (NASDAQ: FREQ)
August 2, 2021, is the Lead Plaintiff Deadline
November 16, 2020, to March 22, 2021, was the Class Period
Allegations against Frequency Therapeutics include that: the Phase 2a trial results the company got did not meet the company’s expectations as there wasn’t any discernable difference between the placebo and FX-322. However, despite the disappointing results the company got, they continued to conduct the trial while giving positive statements in pharmaceutical presentations, SEC filings, press releases, earning calls about the potential of FX-322. These statements misled the market, but it inflated the value of the company’s common stock.