Bragar Eagel & Squire, P.C. Reminds Investors That Class

NEW YORK, Aug 25, 2021 (GLOBE NEWSWIRE) – Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, reminds investors that class action lawsuits have been initiated on behalf of the shareholders of DiDi Global Inc. (NYSE: DIDI.) ), RenovaCare, Inc. (other OTC: RCAR), Live Ventures Incorporated (NASDAQ: LIVE), and Annovis Bio, Inc. (NYSE: ANVS). Shareholders have until the following deadlines to apply to the court as the main plaintiff. Further information on the individual cases can be found at the link provided.

DiDi Global, Inc. (NYSE: DIDI)

Class period: June 2021 IPO; June 27, 2021 to July 21, 2021

Lead plaintiff deadline: September 7, 2021

On or about June 30, 2021, DiDi Global completed its IPO and issued 316.8 million American Depositary Shares priced at $ 14.

Within days, on July 2, 2021, the company announced that China’s Cyberspace Administration Office was conducting a cybersecurity review of the company and asking it to suspend new user registrations in China.

On July 4, 2021, the company issued a press release entitled “DiDi Announces App Takedown in China,” which announced: “The CAC [Cyberspace Administration of China] stated that it was reported and confirmed that the ‘DiDi Chuxing’ app had the problem of collecting personal data in violation of the relevant laws and regulations of the People’s Republic of China. “The press release continues:”[p]In accordance with the cybersecurity law of the PR China, the CAC has requested app stores to discontinue the “DiDi Chuxing” app in China[.]”

On July 5, 2021, the Wall Street Journal published an article titled “Chinese Regulators Suggested Didi Delay Its US IPO: Ride-Hailing Giant Under Pressure To Reward Shareholders, Propelled NYSE Listings Despite Concerns From China’s Cyber ​​Security Watchdog “, Who reported: among other things, that”[w]Weeks before Didi Global Inc. [] went public in the US, China’s cybersecurity watchdog suggested that the Chinese ride-hailing giant delay its IPO and asked it to do a thorough self-assessment of its network security[.]”

As a result of this news, the company’s American Depositary Shares (“ADS”) fell $ 3.04 per ADS, or nearly 20%, to close at $ 12.49 per ADS on July 6, 2021, the next trading day.

Further information on the DiDi class action can be found at: https://bespc.com/cases/DIDI

RenovaCare, Inc. (Other OTC: RCAR)

Course period: August 14, 2017 to May 28, 2021

Lead plaintiff deadline: September 14, 2021

On May 28, 2021, the US Securities and Exchange Commission released a lawsuit stating that RenovaCare was charged with alleged securities fraud. According to the SEC complaint, “Between July 2017 and January 2018, RenovaCare arranged and directed the company’s controlling shareholder and chairman, Harmel Rayat (“ Rayat ”), an advertising campaign aimed at increasing the company’s share price. Specifically, “Rayat was closely involved in directing the promotion and processing of promotional materials, and arranged for payments to be routed through consultants to the publisher to hide RenovaCare’s involvement in the campaign.” As OTC Markets Group, Inc When asked RenovaCare to clarify its relationship with the Promotion, the complaint alleged that “Rayat and RenovaCare then drafted and issued a press release and Form 8-K that contained material misstatements and omissions indicating the involvement of Rayat and the Companies denied “in promoting.”

Following this news, the company’s stock price fell $ 0.66, or 24.8%, for three consecutive trading sessions, closing at $ 2.00 per share on June 2, 2021.

The complaint filed in this class action lawsuit alleges that during the collection period the defendants made materially false and / or misleading statements and failed to disclose material adverse facts about the company’s business, operations and prospects. In particular, defendants have failed to disclose to investors: (1) that RenovaCare conducted an advertising campaign at the direction of Rayat to make misleading statements in order to artificially increase the company’s share price; (2) that RenovaCare and Rayat issued a materially false and misleading press release in response to inquiries from the OTC markets, alleging that no director, officer or controlling shareholder was involved in the alleged third party’s promotional materials; (3) that as a result of the foregoing, the Company’s disclosure controls and procedures were inadequate; and (4) as a result, Defendants’ statements about its business, operations and prospects were materially false and misleading and / or were inadequate at all relevant times.

For more information on the RenovaCare class action lawsuit, please visit: https://bespc.com/cases/RCAR

Live Ventures Incorporated (NASDAQ: LIVE)

Course period: December 28, 2016 to August 3, 2021

Lead plaintiff deadline: October 12, 2021

On August 3, 2021, the US Securities and Exchange Commission filed a complaint against Live Ventures, its chief executive officer, and its chief financial officer alleging “multiple financial, disclosure and reporting violations related to excess revenue and receipts” per In particular, the SEC alleged that Live Ventures recorded revenue from a retrospective contract that increased pre-tax profit for fiscal 2016 by 20% and understated the number of shares outstanding, which the Earnings per share exaggerated by 40%.

Based on this news, the company’s share price fell $ 29.08, or 46%, on an unusually high trading volume, to close at $ 33.50 per share on August 4, 2021.

The stock price fell further $ 7.74, or 23%, for the next four consecutive trading sessions, closing at $ 25.76 per share on August 10, 2021

The complaint filed in this class action lawsuit alleges that during the collection period the defendants made materially false and / or misleading statements and failed to disclose material adverse facts about the company’s business, operations and prospects. In particular, defendants have failed to advise investors: (1) that Live’s earnings per share for fiscal 2016 were actually only $ 6.33 per share; (2) that the company used an artificially low number of shares to increase earnings per share by 40%; (3) Live increased pre-tax income for fiscal year 2016 by 20% by including $ 915,500 in “other income” related to certain changes that were not negotiated until after the fiscal year ended; (4) Live’s acquisition of ApplianceSmart was not completed in the first quarter of 2017; (5) that the use of December 30, 2017 as the “acquisition date” and the recording of income from it did not comply with generally accepted accounting principles; (6) that Live, by falsely stating that the acquisition closed during the quarter, recognized a bargain purchase that enabled the company to post positive net profits in an otherwise unprofitable quarter; (7) that Live’s CEO received approximately 94% more compensation between fiscal 2016 and fiscal 2018 than was reported to investors; and (8) as a result, defendants’ statements about its business, operations and prospects were materially false and misleading and / or were inadequate at all relevant times.

For more information on the Live Ventures class action lawsuit, please visit: https://bespc.com/cases/LIVE

Annovis Bio, Inc. (NYSE: ANVS)

Course period: May 21, 2021 to July 28, 2021

Lead plaintiff deadline: October 18, 2021

On July 28, 2021, after the market closed, Annovis announced preliminary clinical data from its Phase 2a study. Among other things, the company reported that AD patients showed no statistically significant improvement compared to placebo 25 days after treatment. Annovis also reported that although the patients showed cognitive improvements in certain areas, the results were not statistically significant.

As a result of this news, the company’s stock price fell $ 65.94, or 60%, due to an unusually high trading volume, and closed at $ 43.50 per share on July 29, 2021.

The complaint filed in this class action lawsuit alleges that during the collection period the defendants made materially false and / or misleading statements and failed to disclose material adverse facts about the company’s business, operations and prospects. Specifically, Defendants failed to disclose to investors: (1) that Annovis’ ANVS401 did not show statistically significant results on factors such as orientation, judgment and problem solving in two patient populations; and (2) as a result, Defendants’ statements about its business, operations and prospects were materially false and misleading and / or were inadequate at all relevant times.

For more information on Annovis Bio’s class action lawsuit, please visit: https://bespc.com/cases/ANVS

About Bragar Eagle & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents private and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. More information about the company can be found at www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.

Contact information:
Bragar Adler & Knappe, PC
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com