NEW YORK, March 25, Mar 25, 2022 (GLOBE NEWSWIRE via COMTEX) --
NEW YORK, March 25, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Amryt Pharma Plc
, SelectQuote, Inc.
, Porch Group, Inc.
, and Virgin Galactic Holdings, Inc.
. Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Amryt Pharma Plc /zigman2/quotes/214273033/composite AMYT -1.83%
On February 28, 2022, Amryt Pharma issued a press release "announc[ing] it has received a Complete Response Letter (CRL) from the US Food and Drug Administration (FDA) regarding its New Drug Application (NDA) for Oleogel-S10, for the treatment of the cutaneous manifestations of Dystrophic and Junctional Epidermolysis Bullosa (EB)". Amryt Pharma reported that "[t]he FDA communicated that it had completed its review of the application and has determined that the application cannot be approved in its present form" and "has asked Amryt to submit additional confirmatory evidence of effectiveness for Oleogel-S10 in EB."
On this news, Amryt Pharma's American Depositary Shares ("ADSs") declined by $1.15 per ADS, or approximately 14.15%, from $8.13 per ADS to close at $6.98 per ADS on February 28, 2022.
For more information on the Amryt investigation go to: https://bespc.com/cases/AMYT
SelectQuote, Inc. /zigman2/quotes/218577027/composite SLQT +7.11%
On February 7, 2022, SelectQuote reported its financial results for the second quarter of fiscal year 2022. Among other items, SelectQuote reported a quarterly loss of $0.84 per share and a 45% year-over-year revenue decline. The Company's Chief Executive Officer Tim Danker attributed the shortfall to "unexpected challenges" in SelectQuote's Medicare Advantage business. In addition, SelectQuote updated its 2022 guidance to forecast a net loss of $255 million to $236 million.
On this news, SelectQuote's stock price fell $2.99 per share, or 45.79%, to close at $3.54 per share on February 8, 2022.
For more information on the SelectQuote investigation go to: https://bespc.com/cases/SLQT
Porch Group, Inc. /zigman2/quotes/215941509/composite PRCH -4.70%
Porch Group is a vertical software platform for the home, providing software and services to home services companies.
On March 1, 2022, after the market closed, Porch Group disclosed that it could not timely file its 2021 annual report. The Company also disclosed that it had identified material weaknesses in its internal control over financial reporting.
On this news, Porch Group's stock declined by $0.87 per share, or approximately 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 go to: https://bespc.com/cases/PRCH
Virgin Galactic Holdings, Inc. /zigman2/quotes/208333884/composite SPCE -0.56%
On March 2, 2022, news outlets reported on the filing of a shareholder lawsuit alleging that former Virgin Galactic chairman Chamath Palihapitiya took advantage of his insider role at the Company to sell some 10 million shares of stock for $315 million before abruptly resigning from the Company's Board of Directors in February 2022.
On this news, Virgin Galactic's stock price fell $1.17 per share, or 12.42%, to close at $8.25 per share on March 3, 2022.
For more information on the Virgin Galactic investigation go to: https://bespc.com/cases/SPCE
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. 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, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com . Attorney advertising. Prior results do not guarantee similar outcomes.
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