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Current Investigations: Credit Suisse Group AG, Faraday Future Intelligent Electric, Novavax, Organogenesis Holdings

Plaintiff attorney are investing potential violations of securities laws at a handful of firms (every day, of course)



Plaintiff attorneys who specialize in securities class actions are currently investigating potential claims against the following firms: Credit Suisse Group AG, Faraday Future Intelligent Electric, Novavax, and Organogenesis Holdings.

Below is a brief description of each investigation. If you are interested in discussing a potential litigation, whether as a lead plaintiff for a class action or through a private litigation, please give us a call at 312-204-6970. We can review the merits of each case, your trade data and positions, advise a best path forward, and if necessary refer you to an attorney who would be best suited to your needs.

 

Credit Suisse Group AG

Symbol: CS

Activity Period: 3/24/17 – 10/19/21


On December 19, 2018, the U.S. Department of Justice filed a four-count indictment under seal in the Eastern District of New York against Credit Suisse’s U.K. unit in connection with an $850 million loan to a Mozambique state-owned entity, alleging conspiracy to commit wire fraud, conspiracy to commit securities fraud, conspiracy to violate the anti-bribery and internal controls provisions of the Foreign Corrupt Practices Act, and conspiracy to commit money laundering.  On October 19, 2021, Credit Suisse’s U.K. unit pled guilty to wire fraud and agreed to pay $475 million to U.S. and U.K. authorities for its role in a $2 billion corruption scandal in. On this news, Credit Suisse’s stock price fell sharply on October 20, 2021.


Faraday Future Intelligent Electric

Symbol: FFIE

Activity Period: 7/22/21 – 10/6/21


On October 7, 2021, investment analysts at electric J. Capital released a report alleging that electric car maker Faraday Future Intelligent Electrichas misled investors and failed to disclose important information. J. Capital alleged that Faraday failed to build promised factories in locations in both the United States and China, failed to build a car, fabricated 14,000 deposits for new cars, and that 78% of these reservations were made by a single undisclosed company that is likely an affiliate. J. Capital concluded that Faraday Future is unlikely to ever sell a car. On this news, Faraday’s stock price fell $0.35, or 4.16%, to close at $8.05 on October 7, 2021.

 

Novavax

Symbol: NVAX

Activity period: 3/1/21 – 10/19/21


On October 19, 2021, Politico published an article entitled “’They rushed the process’: Vaccine maker’s woes hamper global inoculation campaign.”  Politico claimed that Novavax’s COVID-19 vaccine “faces significant hurdles” in passing regulation requirements.  On this news, Novavax’s stock price fell sharply on October 20, 2021.

 

Organogenesis Holdings

Symbol: ORGO

Activity Period: 3/16/21 – 10/11/21


On October 12, 2021, Value Investors Club published a report alleging that Organogenesis has been improperly billing the federal government for $250 million each year.  The company also set an extremely high price for its wound convering product, Affinity, which is purchased in large quanrities by the government through Medicaid. On this news, Organogenesis’s stock price fell 14% on October 12, 2021.

 


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