NEW YORK, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against GrafTech International Ltd. (NYSE: EAF), Polished.com, Inc. (NYSEAmerican: POL), EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), and Vintage Wine Estates, Inc. (NASDAQ: VWE). 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.
GrafTech International Ltd. (NYSE: EAF)
On September 16, 2022, GrafTech announced that operations at its graphite electrode manufacturing facility in Monterey, Mexico, had been suspended after an inspection by the State Attorney’s Office for the Secretary of the Environment for the State of Nuevo Leon. The Company also admitted that the Mexican government had determined that its operating license within the country was no longer in effect, and could not provide an estimate for when the manufacturing plant would return to operation.
On this news, GrafTech’s stock price fell $0.47 per share, or 8.8%, to close at $4.85 per share on September 19, 2022, the next trading day.
For more information on the GrafTech investigation go to: https://bespc.com/cases/EAF
Polished.com, Inc. (NYSEAmerican: POL)
In July 2020, Polished (then known as 1847 Goedeker Inc.) conducted its initial public offering ("IPO"), selling shares priced at $9.00 per share.
Then, on August 15, 2022, after market hours, Polished announced on Form 12b-25 filed with the SEC its inability to timely file its Form 10-Q for its second quarter of its fiscal year 2022 ended June 30, 2022 due to its Board's Audit Committee recently beginning “an independent investigation regarding certain allegations made by certain former employees related to the Company's business operations.” Further, the Company announced that “[t]he investigation is ongoing, and the Audit Committee continues to work diligently with independent counsel and consultants to complete the investigation” and that “[t]he Company cannot predict the duration of the investigation, eventual scope, its outcome, or its impact on the Company's financial results.”
On this news, Polished’s share price fell sharply during after-hours trading on August 15, 2022 and pre-market trading on August 16, 2022.
For more information on the Polished investigation go to: https://bespc.com/cases/POL
EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT)
On August 30, 2022, after market hours, EyePoint disclosed that it had received a subpoena from the U.S. Attorney’s Office for the District of Massachusetts. The subpoena demanded documents covering the Company’s sales practices for its postoperative inflammation treatment, DEXYCU.
On this news, EyePoint stock fell $0.21 per share, or 2%, to close at $10.00 per share on August 31, 2022.
For more information on the EyePoint investigation go to: https://bespc.com/cases/EYPT
Vintage Wine Estates, Inc. (NASDAQ: VWE)
Vintage Wine issued a press release on September 13, 2022, revealing that it had taken $19.1 million in non-cash inventory adjustments that it had “identified through efforts to improve and strengthen inventory management, processes and reporting.” The Company added that the adjustments included “physical inventory count adjustments of $12.4 million, $3.7 million related to the establishment of inventory reserves and $3.0 million related to the impact of additional remediation efforts.” The Company admitted that these adjustments had fueled a larger loss in the fourth quarter of 2022.
On this news, Vintage Wine’s stock price fell $2.26 per share, or 40.6%, to close at $3.30 per share on September 14, 2022.
For more information on the Vintage Wine investigation go to: https://bespc.com/cases/VWE
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.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
