NEW YORK, NY / ACCESSWIRE / August 12, 2021 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.
DraftKings Inc. f/k/a Diamond Eagle Acquisition Corp. (NASDAQ:DKNG)
Investors Affected : December 23, 2019 - June 15, 2021
A class action has commenced on behalf of certain shareholders in DraftKings Inc f/k/a Diamond Eagle Acquisition Corp. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) SBTech Global Limited ("SBTech"), a company acquired by DraftKings, had a history of unlawful operations; (ii) accordingly, DraftKings' merger with SBTech exposed the Company to dealings in black-market gaming; (iii) the foregoing increased the Company's regulatory and criminal risks with respect to these transactions; (iv) as a result of all the foregoing, the Company's revenues were, in part, derived from unlawful conduct and thus unsustainable; (v) accordingly, the benefits of the Business Combination were overstated; and (vi) as a result, the Company's public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/draftkings-inc-f-k-a-diamond-eagle-acquisition-corp-loss-submission-form/?id=18493&from=1
Bluecity Holdings Limited (NASDAQ:BLCT)
This lawsuit is on behalf of all persons and entities, other than Defendants, who purchased or otherwise acquired BlueCity American Depositary Shares pursuant and/or traceable to the Offering Documents issued in connection with the Company's initial public offering conducted on or about July 8, 2020.
A class action has commenced on behalf of certain shareholders in Bluecity Holdings Limited. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Defendants had overstated BlueCity's business and financial prospects; (2) the Company was ill-equipped to absorb the costs of becoming a publicly traded company, including IPO- and growth-related costs; (3) as a result of all the foregoing, Defendants had misrepresented the Company's capability for sustainable growth; and (4) as a result, the Offering Documents were materially false or misleading and/or failed to state information required to be stated therein.
Shareholders may find more information at https://securitiesclasslaw.com/securities/bluecity-holdings-limited-loss-submission-form/?id=18493&from=1
Iterum Therapeutics Plc (NASDAQ:ITRM)
Investors Affected : November 30, 2020 - July 23, 2021
A class action has commenced on behalf of certain shareholders in Iterum Therapeutics Plc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the sulopenem New Drug Application ("NDA") lacked sufficient data to support approval for the treatment of adult women with urinary tract infections caused by designated susceptible microorganisms proven or strongly suspected to be nonsusceptible to a quinolone; (ii) accordingly, it was unlikely that the Food and Drug Administration would approve the sulopenem NDA in its current form; (iii) Defendants downplayed the severity of issues and deficiencies associated with the sulopenem NDA; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/iterum-therapeutics-plc-loss-submission-form/?id=18493&from=1
The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm
View source version on accesswire.com:
https://www.accesswire.com/659527/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-DKNG-BLCT-and-ITRM
