NEW YORK, June 04, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against RH (NYSE: RH), Alvotech (NASDAQ: ALVO), and TriplePoint Venture Growth BDC Corp. (NYSE: TPVG). 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.
RH (NYSE: RH)
On February 6, 2023, RH announced that it expects 2022 revenue growth at the lower end of the prior range of (3.5%) to (4.5%). RH also disclosed that its annual report for the fiscal year ended January 29, 2022 and quarterly report for the fiscal quarter ended October 29, 2022 contained errors in the calculation of net income per share, and that the Company's financial statements for each of the quarterly periods ended April 30, July 30, and October 29, 2022 should no longer be relied upon.
On this news, the Company's stock price fell $25.19 per share or 7.33% percent, to close at $318.43 per share on February 6, 2023.
For more information on the RH investigation go to: https://bespc.com/cases/RH
Alvotech (NASDAQ: ALVO)
On April 13, 2023, Alvotech issued a press release "announc[ing]…that the U.S. Food and Drug Administration (FDA) has issued a complete response letter (CRL) for Alvotech's Biologics License Application (BLA) for AVT02, a high-concentration biosimilar candidate for Humira® (adalimumab). The CRL noted that certain deficiencies, which were conveyed following the FDA's reinspection of the company's Reykjavik facility that concluded on March 17, 2023, must be satisfactorily resolved before the application can be approved."
On this news, Alvotech's stock price fell sharply during intraday trading on April 14, 2023.
For more information on the Alvotech investigation go to: https://bespc.com/cases/ALVO
TriplePoint Venture Growth BDC Corp. (NYSE: TPVG)
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. TriplePoint is the subject of a report issued by the Bear Cave on May 2, 2023. According to the report, “TriplePoint is encumbered by high fees, weak management, and a weaker loan book saddled by portfolio company bankruptcies and upside-down startups,” adding that “the Bear Cave believes TriplePoint’s equity may be severely impaired, if it has any value at all.”
On this news, shares of TriplePoint fell by nearly 7.9% on the same day.
For more information on the TriplePoint investigation go to: https://bespc.com/cases/TPVG
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.