Bragar Eagel & Squire, PC investigates RBB, Agrify, Carvana and Enochian and… | New
NEW YORK, July 10. 12, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against RBB Bancorp (NASDAQ: RBB), Agrify Corporation (NADSAQ : AGFY), Carvana Co. (NYSE: CVNA) and Enochian Biosciences, Inc. (NASDAQ: ENOB). 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.
RBB Bancorp (NASDAQ: RBB)
On February 18, 2022, RBB Bancorp announced the abrupt departure of Tammy Song, Executive Vice President and Chief Loan Officer of RBB Bancorp’s wholly owned subsidiary, Royal Business Bank.
Four days later, on February 22, 2022, RBB Bancorp announced that its Chairman and Chief Executive Officer (Alan Thian) would take a leave of absence, effective immediately, pending an internal investigation by a special board committee. of administration of the company.
On this news, RBB Bancorp’s stock price fell $2.69 per share, or about 10.45%, from $25.75 to $23.06 over two trading days.
For more information on RBB Bancorp’s investigation, visit: https://bespc.com/cases/RBB
Agrify Corporation (NASDAQ: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
Carvana Co. (NYSE: CVNA)
On May 18, 2022, the Office of the Illinois Secretary of State announced that Carvana’s license to sell vehicles in Illinois had been suspended on May 10 due to misuse of vehicle licensing. temporary out-of-state registration and non-transfer of titles. The secretary of state’s office said vehicles that have already been purchased but not yet delivered can still be delivered to buyers during the suspension, but no new sales of vehicles can take place in Illinois during the suspension order. suspension.
On this news, Carvana’s stock price fell $6.55 per share, or 15.75%, to close at $35.05 per share on May 18, 2022.
For more information on the Carvana survey, visit: https://bespc.com/cases/CVNA
Enochian Biosciences, Inc. (NASDAQ: ENOB)
On May 25, 2022, the United States Attorney’s Office for the District of Vermont announced that the Enochian co-founder was arrested on Wednesday following a two-year investigation into a man who was kidnapped and found dead in January 2018. Dr. Serhat Gumrukcu is charged with conspiracy to use interstate commercial facilities in the commission of murder-for-hire, which resulted in the death of Vermont resident Gregory Davis.
On this news, Enochian stock fell $2.17, or 37%, to close at $3.70 per share on May 25, 2022.
Dr. Gumrukcu sold 253,493 shares of Enochian on May 18, 2022, for a total value of over $2 million.
For more information on the Enochian Inquiry, visit: https://bespc.com/cases/ENOB
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.
Bragar Eagel & Squire, CP
Brandon Walker, Esq.
Melissa Fortunato, Esq.