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NEW YORK, Oct. 27, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against FedEx Corp. (NYSE: FDX), Cantaloupe, Inc. (NASDAQ: CTLP, OTCMKTS: CTLPP), Compass Minerals International, Inc. (NYSE: CMP), and EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT). 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.
FedEx Corp. (NYSE: FDX)
FedEx released its preliminary results for the first quarter on September 15, 2022. The Company warned of a global drop in its delivery business and is closing stores and delaying hiring staff to combat the drop. The Company also warned that it will miss profitability targets and expects business conditions to worsen.
Based on this news, FedEx shares crashed by more than 22% in intraday trading on September 16, 2022.
For more information about the FedEx investigation go to: https://bespc.com/cases/FDX
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
Compass Minerals International, Inc. (NWSE: CMP)
On September 23, 2022, the U.S. Securities and Exchange Commission (“SEC”) announced that Compass was ordered to pay $12 million to settle charges for “misleading investors” by repeatedly assuring that a technology upgrade at its most significant salt mine was “underway.” to materially reduce costs and boost its operating results starting in 2018,” when, in fact, costs at the mine increased, “substantially. [undermining] the projected savings.” Further, the SEC also noted that Compass exaggerated the amount of salt it could produce.
On this news, Compass stock fell $1.58, or 4.1%, to close at $36.88 per share on September 23, 2022.
For more information on the Compass investigation go to: https://bespc.com/cases/CMP
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
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.
Contact information:
Bragar Eagel & Squire, PC
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
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