Investors of RCAT given a chance to head the Securities Fraud Lawsuit against Red Cat Holdings, Inc., filed by Schall Law Firm
In a class action lawsuit filed by The Schall Law Firm, Red Cat Holdings, Inc. (NASDAQ: RCAT) is accused of violating securities laws. The lawsuit, which targets certain company executives, alleges that Red Cat made false and misleading statements about its business, operations, and prospects during the period from March 18, 2022, to January 15, 2025.
The key allegations against Red Cat include the overstatement of the production capacity of its Salt Lake City facility and the progress made in developing it. The lawsuit also claims that the value of the Short Range Reconnaissance Program of Record Tranche 2 contract (SRR Contract) was inflated. As a result, the public statements made by Red Cat during this period were materially false and misleading.
Investors who purchased Red Cat securities during the specified class period have until July 22, 2025, to seek appointment as lead plaintiff in the lawsuit. Those affected by these alleged securities law violations are encouraged to contact The Schall Law Firm for further information and to discuss their rights.
The Schall Law Firm, a national shareholder rights litigation firm, specializes in securities class action lawsuits and shareholder rights litigation. It represents investors globally and can be contacted via the firm's website or by email. It is important to note that the class has not yet been certified, and until certification occurs, shareholders are not represented by an attorney.
This press release may be considered attorney advertising in certain jurisdictions under applicable law and rules of ethics. The Schall Law Firm can be reached at www.schallfirm.com, by email at [email protected], or by phone at 310-301-3335.
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- cloud: Investors who purchased Red Cat securities during the specified class period may be uncertain about the company's financial future, as the allegations could potentially have a significant impact on Red Cat's business results and prospects.
- finance: The Schall Law Firm encourages those affected by the alleged securities law violations regarding Red Cat to contact them for further information and to discuss their rights, as they may be entitled to monetary compensation through the class action lawsuit.
