Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Meta Materials, NRx, Marathon Digital, and KE Holdings and Encourages Investors to Contact the Firm

1/29, 3:00 AM (Source: GlobeNewswire)

NEW YORK, Jan. 28, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Meta Materials, Inc. (NASDAQ: MMAT), NRx Pharmaceuticals, Inc. (NASDAQ: NRXP, NRXPW), Marathon Digital Holdings, Inc. (NASDAQ; MARA), and KE Holdings (NYSE: BEKE). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

Meta Materials, Inc. (NASDAQ: MMAT)

Class Period: September 21, 2020 – December 14, 2021

Lead Plaintiff Deadline: March 4, 2022

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) the business combination of Torchlight Energy Resources, Inc. and Metamaterial Inc. would result in an SEC investigation and subpoena in the matter captioned In the Matter of Torchlight Energy Resources, Inc.; (2) the Company has materially overstated its business connections and dealings; (3) the Company has materially overstated its ability to produce and commercialize its products; (4) the Company has materially overstated its products’ novelty and capabilities; (5) the Company’s products did not have the potential to be disruptive because, among other things, the Company priced its products too high; and (6) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

On this news, Meta’s stock fell $0.18 per share, or 5.83%, to close at $2.91 per share on December 14, 2021, thereby injuring investors further.

For more information on the Meta Materials class action go to: https://bespc.com/cases/MMAT

NRx Pharmaceuticals, Inc. (NASDAQ: NRXP, NRXPW)

Class Period: June 1, 2021 – November 4, 2021

Lead Plaintiff Deadline: March 21, 2022

NRx is a clinical-stage small molecule pharmaceutical company that develops various therapeutics for the treatment of central nervous system disorders and life-threatening pulmonary diseases. The Company’s products include, among others, ZYESAMI, an investigational pre-commercial drug for COVID-19 related respiratory failure.

In June 2021, NRx announced that it filed an application with U.S. Food and Drug Administration (“FDA”) requesting Emergency Use Authorization (“EUA”) for ZYESAMI (Aviptadil-acetate) to treat critically ill COVID-19 patients suffering with respiratory failure (the “ZYESAMI EUA Application”).

The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the ZYESAMI EUA Application contained insufficient data regarding the potential benefits and risks of ZYESAMI; (ii) accordingly, the FDA was unlikely to approve the ZYESAMI EUA Application in its present form; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On November 4, 2021, NRx issued a press release “announc[ing] that the [FDA] has declined to issue an [EUA] for ZYESAMI® (aviptadil). The FDA stated that it was unable to issue the EUA at this time due to insufficient data regarding the known and potential benefits of the medicine and the known and potential risks of ZYESAMI in patients suffering from Critical COVID-19 with respiratory failure.”

On this news, NRx’s stock price fell $2.27 per share, or 25.45%, to close at $6.65 per share on November 5, 2021.

For more information on the NRx Pharmaceuticals class action go to: https://bespc.com/cases/NRXP

Marathon Digital Holdings, Inc. (NASDAQ; MARA)

Class Period: October 30, 2020 – November 15, 2021

Lead Plaintiff Deadline: February 15, 2022

Throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Beowulf Joint Venture, as it related to the Hardin Facility, implicated potential regulatory violations, including U.S. securities law violations; (ii) as a result, the Beowulf Joint Venture subjected Marathon to a heightened risk of regulatory scrutiny; (iii) the foregoing was reasonably likely to have a material negative impact on the Company’s business and commercial prospects; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On November 15, 2021, Marathon disclosed that “the Company and certain of its executives received a subpoena to produce documents and communications concerning the Hardin, Montana data center facility[,]” and advised that “the SEC may be investigating whether or not there may have been any violations of the federal securities law.”

On this news, Marathon’s stock price fell $20.52 per share, or 27.03%, to close at $55.40 per share on November 15, 2021.

For more information on the Marathon Digital class action go to: https://bespc.com/cases/MARA

KE Holdings (NYSE: BEKE)

Class Period: August 13, 2020 – December 16, 2021

Lead Plaintiff Deadline: February 28, 2022

The action arises out of the Company’s misstatements materially overstating its store count, agent counsel, new home sales gross transaction value (“GTF”), and revenues. The complaint alleges that defendants made materially false and misleading statements and omissions, and engaged in a scheme to deceive the market. The trust began to come to light when Muddy Waters Capital LLC, a research based equity investor, revealed that KE Holdings was overstating the agents and stores on its platforms, its GTV, and its revenues, among other wrongdoing. These misstatements artificially inflated the price of KE Holdings’ ADS and operated as a fraud or deceit on the Class. When the truth was revealed, the Company’s ADS price fells substantially and has continued falling since.

For more information on the KE Holdings class action go to: https://bespc.com/cases/BEKE

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.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com


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