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Investor Alert

press release

Jan. 16, 2022, 9:01 p.m. EST

Bragar Eagel & Squire, P.C. Is Investigating WeWork, Natera, Lucid Group, and Nuvei and Encourages Investors to Contact the Firm

NEW YORK, Jan 16, 2022 (GLOBE NEWSWIRE via COMTEX) -- NEW YORK, Jan. 16, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against WeWork, Inc. /zigman2/quotes/222085303/composite WE +5.95% , Natera, Inc. /zigman2/quotes/208435998/composite NTRA +8.46% , Lucid Group, Inc. /zigman2/quotes/221104327/composite LCID +11.00% , and Nuvei Corporation /zigman2/quotes/222210356/composite NVEI +6.04% . 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.

WeWork, Inc. /zigman2/quotes/222085303/composite WE +5.95%

On December 1, 2021, WeWork disclosed in a U.S. Securities and Exchange Commission filing that "[i]n connection with the preparation of the financial statements as of September 30, 2021, WeWork Inc. (the 'Company') reevaluated its application of Accounting Standards Codification ('ASC') 480-10-S99, Distinguishing Liabilities from Equity, to its accounting classification of the Class A common stock subject to possible redemption (the 'Public Shares') issued as part of the units sold in the initial public offering by the Company's predecessor, BowX Acquisition Corp. ('BowX'). The Company had previously classified a portion of the Public Shares in permanent equity. Upon further evaluation, the Company determined that the Public Shares include certain redemption features not solely within the Company's control that, under ASC 480-10-S99, require such shares to be classified as temporary equity in their entirety." Accordingly, WeWork advised that certain of its previously issued financial statements should not be relied upon and would be restated. In addition, WeWork disclosed that its management has concluded that, that in light of the classification error described above, there was a material weakness in internal control over financial reporting relating to the interpretation and accounting for certain complex features of the Public Shares."

The stock dropped more than 5% in extended trading after the disclosure.

For more information on the WeWork investigation go to: https://bespc.com/cases/WE

Natera, Inc. /zigman2/quotes/208435998/composite NTRA +8.46%

On January 1, 2022, an article from the New York Times called into question the accuracy of certain prenatal tests, alleging that positive results on tests are incorrect about 85 percent of the time, and that patients who receive a positive result are supposed to pursue follow-up testing, which "can cost thousands of dollars, come with a small risk of miscarriage and can't be performed until later in pregnancy."

On this news, Natera's stock declined as much as 3.5% during intraday trading on January 3, 2022, thereby injuring investors.

For more information on the Natera investigation go to: https://bespc.com/cases/NTRA

Lucid Group, Inc. /zigman2/quotes/221104327/composite LCID +11.00%

On December 6, 2021, Lucid disclosed in a filing with the U.S. Securities and Exchange Commission ("SEC") that "[o]n December 3, 2021, [Lucid] received a subpoena from the [SEC] requesting the production of certain documents related to an investigation by the SEC. Although there is no assurance as to the scope or outcome of this matter, the investigation appears to concern the business combination between the Company (f/k/a Churchill Capital Corp. IV) and Atieva, Inc. and certain projections and statements."

On this news, Lucid's stock price fell sharply during intraday trading on December 6, 2021.

For more information on the Lucid Group investigation go to: https://bespc.com/cases/LCID

Nuvei Corporation /zigman2/quotes/222210356/composite NVEI +6.04%

On December 8, 2021, Spruce Point Capital Management ("Spruce Point") published a short-seller report on Nuvei. Citing "a forensic financial and accounting review," the Spruce Point report alleged that Nuvei "has covered up a pattern of business failures, lack of organic growth, and a web of relationships with individuals connected to major Ponzi Schemes and alleged fraudulent activities[.]"

Following pulication of the Spruce Point report, Nuvei's stock price fell $39.38 or 40.45%, to close at $57.97 per share on December 8, 2021.

For more information on the Nuvei investigation go to: https://bespc.com/cases/NVEI

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.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com

COMTEX_400643631/2471/2022-01-16T21:00:52

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/zigman2/quotes/222085303/composite
US : U.S.: NYSE
$ 6.95
+0.39 +5.95%
Volume: 5.37M
May 19, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.76 billion
Rev. per Employee
$584,120
loading...
/zigman2/quotes/208435998/composite
US : U.S.: Nasdaq
$ 38.97
+3.04 +8.46%
Volume: 1.30M
May 19, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.46 billion
Rev. per Employee
$249,926
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/zigman2/quotes/221104327/composite
US : U.S.: Nasdaq
$ 19.27
+1.91 +11.00%
Volume: 39.57M
May 19, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$28.95 billion
Rev. per Employee
$21,615
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/zigman2/quotes/222210356/composite
US : U.S.: Nasdaq
$ 47.79
+2.72 +6.04%
Volume: 333,638
May 19, 2022 4:00p
P/E Ratio
87.83
Dividend Yield
N/A
Market Cap
$6.49 billion
Rev. per Employee
$576,455
loading...
/zigman2/quotes/222085303/composite
US : U.S.: NYSE
$ 6.95
+0.39 +5.95%
Volume: 5.37M
May 19, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.76 billion
Rev. per Employee
$584,120
loading...
/zigman2/quotes/208435998/composite
US : U.S.: Nasdaq
$ 38.97
+3.04 +8.46%
Volume: 1.30M
May 19, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$3.46 billion
Rev. per Employee
$249,926
loading...
/zigman2/quotes/221104327/composite
US : U.S.: Nasdaq
$ 19.27
+1.91 +11.00%
Volume: 39.57M
May 19, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$28.95 billion
Rev. per Employee
$21,615
loading...
/zigman2/quotes/222210356/composite
US : U.S.: Nasdaq
$ 47.79
+2.72 +6.04%
Volume: 333,638
May 19, 2022 4:00p
P/E Ratio
87.83
Dividend Yield
N/A
Market Cap
$6.49 billion
Rev. per Employee
$576,455
loading...

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