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ETNB.US
id: 508, Created by Stan Vick Chase, Scout
ETNB Unreasonable Upsized Shares Offering
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
On June 28, 2022, 89bio (NASDAQ: ETNB) shares dropped over 5% after the Company proposed an underwritten public offering of $75M of shares of its common stock, pre-funded warrants, and accompanying warrants to purchase shares of its common stock.
The next day, the firm priced its previously announced underwritten public offering by upsizing to $94.5 million, further diluting current shareholders, and seriously damaging them.
The offering was conducted at depressed price levels and it was upsized without the critical necessity for the Company's needs, rising questions about intentional cheap shares sale on behalf of affiliates.
Going back on May 11, 2022, 89bio reported that it had cash, cash equivalents, and short-term investments of $126.1 million. Based upon current projections, 89bio believed it has sufficient cash to fund operations into the second half of 2023.
Comparing the official Company's financial representations and further actual steps, Investors have all reasons to suspect the Company's management of gross violations, including financial misrepresentations, breach of fuduciary duties to shareholders and probably malpractice.
Alleged Offence
Mismanagement,
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Malpractice,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management,
Shareholder,
Investment Bank,
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
28 June 2022