NEW YORK, Aug. 09, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating certain officers and directors of Provention Bio, Inc. (NASDAQ: PRVB), and Ontrak, Inc. (NASDAQ: OTRK) on behalf of long-term stockholders. More information about each potential case can be found at the link provided.
Provention Bio, Inc. (NASDAQ: PRVB)
Bragar Eagel & Squire is investigating certain officers and directors of Provention Bio, Inc. following a class action complaint that was filed against Provention Bio on May 21, 2021.
The complaint alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Provention Bio’s teplizumab BLA was deficient in its submitted form and would require additional data to secure FDA approval; (ii) accordingly, Provention Bio’s teplizumab BLA lacked the evidentiary support Provention Bio had led investors to believe it possessed; (iii) Provention Bio had thus overstated the teplizumab BLA’s approval prospects and hence the commercialization timeline for teplizumab; and (iv) as a result, Provention Bio’s public statements were materially false and misleading at all relevant times.
To learn more about our investigation into Provention Bio go to: https://bespc.com/cases/PRVB
Ontrak, Inc. (NASDAQ: OTRK)
Bragar Eagel & Squire is investigating certain officers and directors of Ontrak, Inc. following a class action complaint that was filed against Ontrak on March 3, 2021.
The complaint 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 Ontrak’s largest customer evaluated the Company on a provider basis, valuing Ontrak’s performance based on achieving the lowest cost per medical visit rather than clinical outcomes or medical cost savings; (2) that, as a result, Ontrak’s largest customer did not find the Company’s program to be effective and was reasonably likely to terminate its contract with Ontrak; (3) that, because this customer accounted for a significant portion of the Company’s revenue, the loss of the customer would have an outsized impact on Ontrak’s financial results; 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.
To learn more about our investigation into Ontrak go to: https://bespc.com/cases/OTRK
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.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
