NEW YORK, April 25, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Natera, Inc. (NASDAQ: NTRA), Mullen Automotive, Inc. (NASDAQ: MULN), Arqit Quantum, Inc. (NASDAQ: ARQQ), and Netflix, Inc. (NASDAQ: NFLX). 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.
Natera, Inc. (NASDAQ: NTRA)
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
Mullen Automotive, Inc. (NASDAQ: MULN)
On April 6, 2022, Hindenburg Research ("Hindenburg") published a report addressing Mullen, entitled "Mullen Automotive: Yet Another Fast Talking EV Hustle", calling the Company among the worst electric vehicle ("EV") hustles that Hindenburg has seen in a crowded field of contenders such as Nikola Corporation and Lordstown Motors Corp. Among other things, Hindenburg observed that "[d]espite only spending ~$3 million in R&D in 2021, Mullen claims its solid-state battery technology is on track for commercialization in 18 to 24 months, putting it [a]head of every major technology and automaker in the industry who have collectively invested billions on solving the problem." The Hindenburg report also alleged that the Chief Executive Officer of EV Grid, Inc. ("EV Grid"), which makes batteries and battery management systems for vehicles, refuted a press release issued by Mullen regarding test results for its battery, stating "[w]e never would have said that" and "[w]e never did say it and certainly wouldn't have said it based on the results of testing that battery." Additionally, the Hindenburg report alleged that Mullen's claims to be in a joint venture with NextMetals Ltd. ("NextMetals") to create a solid-state battery were refuted by a NextMetals senior executive who said it "‘was a nonstarter' and ‘didn't exist.'"
On this news, Mullen's stock price fell $0.07 per share, or 2.57%, to close at $2.65 per share on April 6, 2022.
For more information on the Mullen investigation go to: https://bespc.com/cases/MULN
Arqit Quantum, Inc. (NASDAQ: ARQQ)
Arqit is a cybersecurity company that purports to be developing quantum encryption technology to secure against cyber-attacks.
The Company, headquartered in London, England, went public in September 2021 when it merged with Centricus Acquisition Corp. (NASDAQ: CENH, CENHW, CENHU), a special purpose acquisition company, or SPAC.
On April 18, 2022, an article in The Wall Street Journal entitled “British Encryption Startup Arqit Overstates Its Prospects Former Staff and Others Say” raised significant issues about the Company and its prospects. The article notes that when the Company went public last fall, the Company’s Founder and Chief Executive David Williams told investors Arqit had an “impressive backlog” of revenue and was ready “for hyperscale growth.” However, the article also states that “Arqit has given investors an overly optimistic view of its future revenue and the readiness and workability of its signature encryption system, according to former employees and other people familiar with the company, and documents viewed by The Wall Street Journal.”
Following today’s news, the price of Arqit stock dropped $2.57 per share, over 17%, to close at $12.49 per share.
For more information on the Arqit investigation go to: https://bespc.com/cases/ARQQ
Netflix, Inc. (NASDAQ: NFLX)
In after-hours trading on Tuesday, April 19, 2022, Netflix shares fell more than 23% after the Company reported a loss of 200,000 subscribers during the first quarter.
Netflix previously told shareholders it expected to add 2.5 million net subscribers during the first quarter. Analysts had predicted that number would be closer to 2.7 million.
The Company also said that it expects to lose another 2 million subscribers in the second quarter of 2022.
For more information on the Netflix investigation go to: https://bespc.com/cases/NFLX
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
