NEW YORK, Sept. 06, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Clariant AG (OTCMKTS: CLZNY ), Polished.com, Inc. (NYSEAmerican: POL), Super Group (SGHC) Limited (NYSE: SGHC) and Sema4 Holdings Corp. (NASDAQ: SMFR, SMFRW). Our investigations focus on whether these companies have violated federal securities laws and/or engaged in other illegal business practices. Additional information on each case can be found at the link provided.
Clariant SA (OTCMKTS: CLZNY)
On February 14, 2022, Swiss chemical manufacturer, Clariant AG, announced that it would delay the release of fourth quarter 2021 and full year 2021 financial results due to an ongoing internal investigation into accounting fraud. potential.
Clariant AG is investigating internal whistleblower complaints of which the company has been aware since September 2021, regarding booking issues aimed at improving results to achieve goals.
On this news, shares of Clariant AG ADR fell more than 14% in intraday trading on February 14, 2022.
For more information on the Clariant survey, visit: https://bespc.com/cases/CLZNY
Polished.com, Inc. (NYSEAmerican: POL)
In July 2020, Polished (then known as 1847 Goedeker Inc.) completed its initial public offering (“IPO”), selling shares at a price of $9.00 per share.
Then, on August 15, 2022, after market hours, Polished announced on Form 12b-25 filed with the SEC its failure to timely file its Form 10-Q for its fiscal 2022 second quarter ended August 30. June 2022 due to its The Audit Committee of the Board of Directors recently launched “an independent investigation into certain allegations made by certain former employees relating to the Company’s business activities”. In addition, the Company announced that “[t]The investigation is ongoing and the Audit Committee continues to work diligently with independent attorneys and consultants to complete the investigation” and that “[t]The Company cannot predict the duration of the investigation, its potential scope, outcome or impact on the Company’s financial results.
At this news, Polished’s stock price fell sharply in after-hours trading on August 15, 2022 and pre-market trading on August 16, 2022.
For more information on the Polish investigation, visit: https://bespc.com/cases/POL
Super Group (SGHC) Limited (NYSE:SGHC)
On May 25, 2022, in a conference call to discuss the company’s first quarter 2022 results, Super Group withdrew its fiscal year 2022 revenue guidance of 1.4 billion euros and its guidance adjusted EBITDA of €345 million, stating that “[g]Given the volatility we have seen and known uncertainties, we are working on a re-forecast for 2022 and should be able to provide an update to our expectations when we release second quarter results in August.
On this news, Super Group’s common stock price fell $1.89 per share, or 23.28%, to close at $6.23 per share on May 25, 2022.
Then, on August 11, 2022, during a conference call to discuss the company’s second quarter 2022 results, Super Group provided revenue guidance for fiscal year 2022 “between 1.15 billion euros and €1.28 billion” and adjusted EBITDA guidance “between €200 million and €250 million. The Super Group attributed the reduction in guidance to “continued pressures from multiple economic and regulatory headwinds , as well as some additional degree of normalization post-COVID.”
On this news, Super Group’s common stock price fell $0.69 per share, or 12.19%, to close at $4.97 per share on August 11, 2022.
For more information on the Super Group investigation, visit: https://bespc.com/cases/SGHC
Sema4 Holdings Corp. (NASDAQ: SMFR, SMFRW)
On July 22, 2021, CM Life Sciences, Inc., a special purpose acquisition company, completed its business combination with Mount Sinai Genomics, Inc., and the combined public entity was renamed Sema4.
Less than a year later, on June 14, 2022, Sema4 announced the departure of its chief financial officer.
Then, on August 15, 2022, after the market closed, Sema4 announced changes to its research and development team, including that its founder was leaving the organization and stepping down as president and head of R&D. The company also revealed that it was eliminating about 13% of its workforce as part of a series of corporate restructurings and realignments. Additionally, Sema4 lowered its 2022 revenue forecast to $245 million to $255 million from its previous forecast of $305 million to $315 million.
On this news, Sema4 stock fell $0.80, or 33.3%, to close at $1.60 per share on Aug. 16, hurting investors.
For more information on the Sema4 survey, visit: https://bespc.com/cases/SMFR
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC 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, derivatives and other complex litigation before state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertisement. Prior results do not guarantee similar results.
Bragar Eagel & Squire, CP
Brandon Walker, Esq.
Melissa Fortunato, Esq.