Bragar Eagel & Squire, PC Investigates Oak Street Health, Hollysys Automation and Cronos Group and Encourages Investors to Contact the Firm
Bragar Eagel & Squire, PC, a nationally recognized law firm, is investigating potential claims against Oak Street Health, Inc. (NYSE: OSH), Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) and Cronos Group, Inc. (NASDAQ: CRON). 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.
Oak Street Health, Inc. (NYSE: OSH)
In the Oak Street third quarter update on Monday, November 8, 2021, the company revealed that the United States Department of Justice (DOJ) is investigating the possibility of violating the False Claims Act and said the DOJ had requested documents and information regarding Oak Street providing free transportation to federal health care recipients and related to its relationships with third-party marketers.
At this news, Oak Street’s stock price fell $ 9.75 per share, or 20%, to close at $ 37.14 on November 9, 2021, hurting investors.
For more information on the Oak Street Health investigation, visit: https://bespc.com/cases/OSH
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI)
On November 2, 2021, Hollysys filed a notice with the United States Securities and Exchange Commission indicating that the Company was unable to timely file its annual report for the period ended June 30, 2021 due to a “delay. in the collection of supporting documents and information ”. Hollysys also revealed that she replaced Ernst & Young Hua Ming LLP as independent auditor.
Following this news, the Hollysys share price fell $ 5.69 per share, or 29%, to close at $ 13.70 per share on November 3, 2021.
For more information on the Hollysys Automation survey, please visit: https://bespc.com/cases/HOLI
Cronos Group, Inc. (NASDAQ: CRON)
On November 9, 2021, Cronos filed a Form 8-K with the United States Securities and Exchange Commission, stating that “[o]n November 8, 2021, Cronos Group Inc.. . . has determined that it will be required to restate its previously released unaudited interim financial statements for the three and six months ended June 30, 2021 previously filed on Form 10-Q on August 6, 2021 “and advising that”[t]We should therefore no longer rely on the Company’s financial statements for this period. “Cronos further stated that”[t]The Company concluded that it should have recorded an impairment charge of at least $ 220 million on goodwill and indefinite life intangible assets in its US business unit for the three and six months ended 30 June 2021. The Company will restate its unaudited interim financial statements. financial statements for the three and six months ended June 30, 2021, accordingly. According to Cronos, the Company is also “evaluating whether to record additional depreciation in the three and nine months ended September 30, 2021.”
Following this news, the Cronos share price fell $ 1.01 per share, or 15.05%, to close at $ 5.70 per share on November 9, 2021.
For more information on the Cronos group survey, please visit: https://bespc.com/cases/CRON
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York City, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. For more information about the company, please visit www.bespc.com . Lawyer advertising. Past results do not guarantee similar results.