NEW YORK, Oct. 06, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against FedEx Corp. (NYSE: FDX), Opendoor Technologies, Inc. (NASDAQ: OPEN), Sotera Health Company (NASDAQ: SHC), and Cantaloupe, Inc. (NASDAQ: CTLP, OTCMKTS: CTLPP). 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.
FedEx Corp. (NYSE: FDX)
FedEx released its preliminary results for the first quarter on September 15, 2022. The Company warned of a global drop-off in its delivery business and is closing storefronts and putting off hiring staff to combat the drop. The Company also warned that it will miss targets on profitability and expects business conditions to worsen.
Based on this news, shares of FedEx cratered by more than 22% in intraday trading on September 16, 2022.
For more information on the FedEx investigation go to: https://bespc.com/cases/FDX
Opendoor Technologies, Inc. (NASDAQ: OPEN)
On September 19, 2022, citing a review of industry data, Bloomberg reported that Opendoor appeared to have lost money on 42% of its transactions in August 2022 (as measured by the prices at which it bought and sold properties). Bloomberg further reported that the data was even worse in key markets such as Los Angeles, where Opendoor lost money on 55% of sales, and Phoenix, where it lost money on 76% of sales.
Following the Bloomberg report, Opendoor’s stock price fell $0.50 per share, or 12.32%, over the following two trading sessions, to close at $3.56 per share on September 20, 2022.
For more information on the Opendoor investigation go to: https://bespc.com/cases/OPEN
Sotera Health Company (NASDAQ: SHC)
On September 19, 2022, news outlets reported that a jury found Sotera’s Sterigenics business unit liable for a role in causing a woman’s breast cancer and awarded the plaintiff $363 million. The lawsuit specifically alleged that carcinogenic emissions from a Sterigenics plant near the plaintiff’s home caused cancer.
On this news, Sotera’s stock price fell $4.90 per share, or 33.27%, to close at $9.83 per share on September 19, 2022.
For more information on the Sotera investigation go to: https://bespc.com/cases/SHC
Cantaloupe, Inc. (NASDAQ: CTLP, OTCMKTS: CTLPP)
On September 28, 2022, the company issued a report stating, "Based on progress made to date in the assessments of the effectiveness of internal controls over financial reporting, the Company currently expects to report three material weaknesses in its internal control framework. This includes the design, implementation and operating effectiveness of information technology general controls in the areas of user access, change management and segregation of duties within various systems that support the Company's accounting and reporting processes, the design, implementation and operating effectiveness of controls over revenue and related accounts, and risk assessment and monitoring activities with respect to identifying and evaluating control deficiencies in a timely manner."
On this news, Cantaloupe stock fell $0.17 per share, or 4.6%, to close at $3.47 per share on September 29, 2022.
For more information on the Cantaloupe investigation go to: https://bespc.com/cases/CTLP
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.