Bragar Eagel & Squire, PC East
NEW YORK, May 22, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Agrify Corporation (AGFY), Pegasystems , Inc. (PEGA), Unity Software, Inc. (:U), and NeoGenomics, Inc. (NEO). Our investigations focus on whether these companies have violated federal securities laws and/or engaged in other illegal business practices. Additional information on each case can be found at the link provided.
Agrify Corporation (AGFY)
On December 16, 2021, during trading hours, market analyst Bonitas Research released a report regarding Agrify which alleges several issues within the company, including that “[w]We believe Agrify has created artificial demand for its product by funding undisclosed insiders of the company to act as independent customers. Further, the report alleges that “Agrify insiders lied to investors about the independence of its client base in order to execute a questionable stock promotion for personal enrichment at the expense of minority shareholders.”[,]” and that “[e]Evidence showed that five (5) of Agrify’s eight (8) customer announcements in 2021 involved either undisclosed company insiders or unlicensed and unproven operators.
At this news, Agrify’s common stock price fell sharply during intraday trading on December 16, 2021.
For more information on the Agrify survey, visit: https://bespc.com/cases/AGFY
Pegasystems, Inc. (PEGA)
On May 10, 2022, Appian announced that it had received a verdict from a jury in Fairfax County, Virginia Circuit Court awarding it $2.036 billion in damages from Pegasystems Inc. (PEGA) for embezzlement trade secrets. The jury also found that Pegasystems violated the Virginia Computer Crimes Act. The jury further found that Pegasystems’ misappropriation of Appian’s trade secrets was willful and malicious. Appian took the case to court to ensure the protection of its proprietary intellectual property, including its trade secrets.
On this news, Pegasystems stock fell $13.68, or 20.75%, to close at $52.25.
For more information on the Pegasystems survey, visit: https://bespc.com/cases/PEGA
Unity Software, Inc. (:U)
Unity is a video game software development company.
On May 10, 2022, after the market closed, Unity announced its first quarter 2022 financial results. The company also cut its guidance for fiscal 2022 “due to issues with monetization products”. More specifically, “a defect of [Unity’s] Platform . . . resulted in reduced accuracy for [its] Audience Pinpointer tool, a revenue-intensive problem given that [the] The Pinpointer tool has seen significant growth after the IDFA changes. »
On this news, Unity’s stock price fell $17.83 per share, or about 37%, from $48.13 per share to close at $30.30 per share on May 11, 2022.
For more information on the Unity Software survey, visit: https://bespc.com/cases/U
NeoGenomics, Inc. (NEO)
NeoGenomics specializes in cancer genetic testing and information services and aims to provide comprehensive menus of oncology-focused tests worldwide for physicians to help them diagnose and treat cancer.
On Monday, March 28, 2022, NeoGenomics chief executive Mark Mallon resigned as the health testing company revealed that first-quarter financial results would lack guidance and canceled its full-year guidance.
On this news, NeoGenomics stock price fell $5.30 per share, or approximately 29.8%, from $17.79 per share to close at $12.49 per share on March 29, 2022.
For more information on the NeoGenomics survey, visit: https://bespc.com/cases/NEO
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC 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, derivatives and other complex litigation before state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertisement. Prior results do not guarantee similar results.