DEADLINE ALERT for PSFE, BFT, RVNC, RAAS, and ORGO: The Law Offices of Frank R. Cruz Reminds Investors of Class Actions on Behalf of Shareholders

Monday, 24. January 2022 17:15

LOS ANGELES, Jan. 24, 2022 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies.  Investors have until the deadlines listed below to file a lead plaintiff motion.

Investors suffering losses on their investments are encouraged to contact The Law Offices of Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to fcruz@frankcruzlaw.com.

Paysafe Limited (NYSE: PSFE, BFT)
Class Period: December 7, 2020 – November 10, 2021
Lead Plaintiff Deadline: February 8, 2022

Shareholders with $200,000 losses or more are encouraged to contact the firm

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Paysafe was being negatively impacted by gambling regulations in key European markets; (2) that Paysafe was encountering performance challenges in its Digital Wallet segment; (3) that new eCommerce customer agreements were being pushed back; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Revance Therapeutics, Inc. (NASDAQ: RVNC)
Class Period:   November 25, 2019 – October 11, 2021
Lead Plaintiff Deadline: February 8, 2022

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) quality control deficiencies existed at the Company’s manufacturing facility for DAXI; (2) the foregoing deficiencies decreased the likelihood that the FDA would approve the DAXI BLA in its current form; (3) accordingly, it was unlikely that the DAXI BLA would obtain FDA approval within the timeframe the Company had represented to investors; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Cloopen Group Holding Limited (NYSE: RAAS)
Class Period: February 9, 2021 – May 10, 2021
Lead Plaintiff Deadline: February 8, 2022

The complaint filed in this class action alleges that the Registration Statement made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Cloopen’s “land and expand” strategy was failing and its customer base deteriorating; (2) the Company’s dollar-based net retention rate was not “stable,” but rather had dropped significantly by the end of 2020; (3) at the time of the IPO, an increasing number of customers were not paying Cloopen for the services and/or solutions it provided, forcing Cloopen to recognize massive increases in its accounts receivable and its allowance for doubtful accounts; (4) because Cloopen had valued certain warrants at extremely low levels, the Company would recognize massive additional costs associated with those warrants; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Organogenesis Holdings Inc. (NASDAQ: ORGO)
Class Period:   March 17, 2021 – October 11, 2021
Lead Plaintiff Deadline: February 8, 2022

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) Organogenesis improperly billed the federal government for its Affinity and PuraPly XT products by, among other things, setting the price for those products multiple times higher than similar products; (ii) the Company improperly induced doctors to use its Affinity and PuraPly XT products through lucrative reimbursements; (iii) as a result of all the foregoing, the Company’s revenue and profits derived from its Affinity and PuraPly XT products were at least in substantial part unsustainable; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

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To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com.   If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com


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