NEW YORK, Oct. 02, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Cantaloupe, Inc. (NASDAQ: CTLP, OTCMKTS: CTLPP), Compass Minerals International, Inc. (NYSE: CMP), and Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI). 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.
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
Compass Minerals International, Inc. (NYSE: CMP)
On September 23, 2022, the U.S. Securities and Exchange Commission (“SEC”) announced that Compass had been ordered to pay $12 million to settle charges for “misleading investors” by repeatedly assuring that a technology update at its most significant salt mine was “on track to materially reduce costs and boost its operating results starting in 2018,” when, in reality, costs at the mine were increasing, “substantially [undermining] the projected savings.” Further, the SEC also noted that Compass overstated the amount of salt it was able to produce.
On this news, Compass’ stock fell $1.58, or 4.1%, to close at $36.88 per share on September 23, 2022.
For more information on the Compass investigation go to: https://bespc.com/cases/CMP
Spectrum Pharmaceuticals, Inc. (NASDAQ: SPPI)
On September 22, 2022, Reuters reported that advisers to the U.S Food and Drug Administration “voted against recommending Spectrum Pharmaceuticals’ experimental drug for the treatment of patients with a form of non-small cell lung cancer. The FDA panel voted 9 to 4 against the oral drug, poziotinib, citing marginal efficacy, high level of toxicities, and lack of dose optimization. The panel’s decision was in-line with briefing documents released by the drug regulator on Tuesday that raised concerns over the efficacy of the treatment compared with existing drugs like Daiichi Sankyo’s 4568.T AstraZeneca’s Enhertu.”
On this news, Spectrum’s stock price fell $0.207 per share, or 32.65%, to close at $0.427 per share on September 23, 2022.
For more information on the Spectrum investigation go to: https://bespc.com/cases/SPPI
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.