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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against BioAge, Nextracker, FTAI, and Revance and Encourages Investors to Contact the Firm
Globe Newswire 24-Feb-2025 9:00 PM
NEW YORK, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of BioAge Labs, Inc. (NASDAQ:BIOA), Nextracker Inc. (NASDAQ:NXT), FTAI Aviation Ltd. (NASDAQ:FTAI), and Revance Therapeutics, Inc. (NASDAQ:RVNC). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Class Period: pursuant and/or traceable to BioAge's registration statement for the initial public offering held on or about September 26, 2024
Lead Plaintiff Deadline: March 10, 2025
According to the complaint, on December 6, 2024, BioAge announced that it would discontinue the ongoing STRIDES Phase 2 trial for azelaprag, its lead product candidate, citing safety concerns over elevated liver transaminase levels in participants. This came as a surprise because, at the time of its IPO less than three months earlier, BioAge highlighted azelaprag's potential in patients undergoing obesity therapy with incretin drugs.
Following this news, BioAge's stock price declined from $20.09 per share on December 6, 2024 to $4.65 per share on December 7, 2024.
The filed complaint alleges that defendants made false statements and/or concealed that: (a) the impact of project delays on Nextracker's business, financial results, and prospects was far more severe than represented to investors; (b) permitting and interconnection delays had materially impaired Nextracker's ability to convert backlog into revenue at historical conversion rates; (c) Nextracker had been unable to offset the negative impact from project delays through increased client demand and the purported ability to pull forward its other projects in the manner represented by defendants; (d) Nextracker did not possess the competitive advantages which purportedly shielded it from industry-wide headwinds or the ability to effectively offset the adverse effects of project delays as claimed by defendants; and (e) as a result of (a)-(d) above, defendants lacked a reasonable basis for their positive statements about Nextracker's business, financial results, and prospects.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants allegedly failed to disclose to investors: (1) the Company reported one-time engine sales as Maintenance Repair & Overhaul revenue when FTAI only performs limited repair and maintenance work on the engine assets sold; (2) FTAI presents whole engine sales as individual module sales, thereby overstating sales and demand; (3) the Company depreciates engines that are not on lease, which misleadingly lowers the reported cost of goods sold and inflates EBITDA; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Class Period: February 29, 2024 - December 6, 2024
Lead Plaintiff Deadline: March 4, 2025
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the complaint alleges that Defendants failed to disclose to investors that: (1) Revance was in material breach of the Distribution Agreement; (2) the foregoing subjected the Company to an increased risk of litigation, as well as monetary and reputational harm; (3) all the foregoing increased the risk that the Tender Offer would be delayed and/or amended; and (4) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
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.
