NEW YORK, Oct. 26, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Cantaloupe, Inc. (NASDAQ: CTLP, OTCMKTS: CTLPP), EyePoint Pharmaceuticals. , Inc. (NASDAQ: EYPT), F45 Training Holdings, Inc. (NYSE: FXLV), and PROG Holdings, Inc. (NYSE: PRG). Our investigations concern whether these companies violated the federal securities laws and/or engaged in other illegal business practices. More information on each case can be found at the link provided.
Cantaloupe, Inc. (NASDAQ: CTLP, OTCMKTS: CTLPP)
On September 28, 2022, the company issued a report stating, “Based on progress made to date in the evaluations 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 operational 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 operational 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
EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT)
On August 30, 2022, after market hours, EyePoint disclosed that it had received a subpoena from the United States Attorney for the District of Massachusetts. The subpoena called for 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 about the EyePoint investigation go to: https://bespc.com/cases/EYPT
F45 Training Holdings, Inc. (NWSE: FXLV)
On or about July 15, 2021, F45 Training conducted its initial public offering (“IPO”), selling 18.75 million shares at a price of $16.00 per share.
Then, on July 26, 2022, F45 issued a press release titled “F45 Training Announces Strategic Update”. In the press release, F45 Training provided updated 2022 revenue guidance in the range of $120 million to $130 million, down significantly from previous guidance of $255 million to $275 million, citing ongoing macroeconomic uncertainty. The press release further announced the departure of the Company’s CEO Adam J. Gilchrist and announced that the Company is “reducing its global workforce by approximately 110 employees.”
On this news, F45 Training’s stock price fell $2.16 per share, or 61.54%, to close at $1.35 per share on July 27, 2022.
For more information on the F45 investigation go to: https://bespc.com/cases/FXLV
PROG Holdings, Inc. (NWSE: PRG)
On August 25, 2022, the Pennsylvania Attorney General filed a lawsuit against PROG’s Progressive Leasing unit for allegedly violating the Rent Purchase Agreement Act (“RPAA”), a law that requires companies to clearly disclose fees for lease- to-own financing. According to the lawsuit, agents from the Attorney General’s Office visited several stores across the state that use Progressive Leasing to offer a lease-purchase agreement to their customers. “The investigation revealed widespread noncompliance” with the disclosure requirements of the RPAA by Progressive Leasing and its business partners, the Attorney General’s Office said in a statement.
On this news, PROG’s stock price fell $2.51 per share, or 12.14%, to close at $18.16 per share on August 26, 2022.
For more information about the PROG investigation go to: https://bespc.com/cases/PRG
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 in state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.
Bragar Eagel & Squire, PC
Brandon Walker, Esq.
Melissa Fortunato, Esq.