NEW YORK, March 03, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against e.l.f. Beauty, Inc. (NYSE: ELF), Dave, Inc. (NASDAQ: DAVE), Red Cat Holdings, Inc. (NASDAQ: RCAT), and Triumph Financial, Inc. (NASDAQ:TFIN). 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.
e.l.f. Beauty, Inc. (NYSE: ELF)
On November 20, 2024, Muddy Waters Research issued a report in which it announced that it had a short position in e.l.f. Beauty, Inc. Muddy Waters stated that it believed that e.l.f. Beauty had “materially overstated revenue over the past three quarters,” and that it believed that in “Q2 FY24, ELF management realized its growth narrative was in trouble as its inventory built. It appears that ELF then began reporting inflated revenue and profits. Its reported inventory also appears materially inflated as a result – i.e., to account for cash that has not really come in.”
On this news, e.l.f. Beauty, Inc. stock fell as much as 15% in intraday trading on November 20, 2024.
For more information on the e.l.f. Beauty investigation go to: https://bespc.com/cases/elf
Dave, Inc. (NASDAQ: DAVE)
On December 30, 2024, the Justice Department, together with the Federal Trade Commission (FTC), announced a civil enforcement action against Dave Inc. and its co-founder, President, Chief Executive Officer and Chairman of the Board of Directors, Jason Wilk, for alleged violations of the FTC Act and the Restore Online Shoppers’ Confidence Act (ROSCA). The government’s lawsuit alleges that the defendants misled consumers by deceptively advertising Dave’s cash advances, charging hidden fees, misrepresenting how Dave uses customers’ tips and charging recurring monthly fees without providing a simple mechanism to cancel them.
On this news, Dave shares opened at $84.00 on December 31, 2024, representing a drop of over 10% from the day before.
For more information on the Dave investigation go to: https://www.bespc.com/cases/DAVE
Red Cat Holdings, Inc. (NASDAQ: RCAT)
On January 16, 2025, Kerrisdale Capital ("Kerrisdale") published a report alleging that Red Cat has overstated the revenue potential of its U.S. Army Short Range Reconnaissance ("SRR") drone contract and lacks the production capacity to deliver on its promises. The Kerrisdale report also raises concerns about the timing of executive departures and insider transactions that took place shortly after the announcement of the SRR contract.
On this news, Red Cat's stock price fell $2.36 per share, or 21.63%, over the following two trading sessions, to close at $8.55 per share on January 17, 2025.
For more information on the Red Cat investigation go to: https://bespc.com/cases/RCAT
Triumph Financial, Inc. (NASDAQ:TFIN)
On January 22, 2025, after market hours, Triumph released its fourth quarter 2024 financial report, missing consensus estimates on revenue and earnings per share. The Company explained earnings were “below our historical average” in part because “credit costs were higher than they should have been.” The Company also stated liquid credit was responsible for 62% of credit expenses in the quarter and “[d]erisking and shrinking this portfolio has taken time and been frustrating” with the Company having to “learn[] lessons here that we will not forget.”
The Company also warned that first quarter 2025 earnings are expected to be even lower, and it does not anticipate material revenue will be generated from recently announced initiatives during the first half of 2025.
On this news, Triumph’s stock price fell $13.11, or 14.3%, to close at $78.86 per share on January 23, 2025, thereby injuring investors.
For more information on the Triumph investigation go to: https://bespc.com/cases/TFIN
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.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
