NEW YORK, July 21, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Waldencast Plc (NASDAQ: WALD), Relmada Therapeutics, Inc. (NASDAQ: RLMD), DoubleVerify Holdings, Inc. (NYSE: DV), and Castle Biosciences, Inc. (NASDAQ: CSTL). 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.
Waldencast Plc (NASDAQ: WALD)
On April 25, 2023, Waldencast announced that it will be unable to file its 2022 annual report on time and will be postponing its fiscal year 2022 and fourth quarter earnings call due to an ongoing review of the Company’s year-end 2022 financial statements. Specifically, the Company is conducting an analysis regarding certain accounting issues in connection with the sale of certain Obagi products for the Vietnam market.
On this news, the price of Waldencast shares declined by $0.57 per share, or approximately 6.20%, from $9.20 per share to close at $8.63 on April 25, 2023.
For more information on the Waldencast investigation go to: https://bespc.com/cases/WALD
Relmada Therapeutics, Inc. (NASDAQ: RLMD)
Before market opened on October 13, 2022, Relmada announced the results of its RELIANCE III study (REL-1017-303), evaluating the drug REL-1017 as a monotherapy for Major Depressive Disorder (MDD). Relmada revealed that the RELIANCE III trial did not achieve its primary endpoint, which was a statistically significant improvement in depression symptoms compared to placebo on Day 28, as measured by the Mongomery-Asberg Depression Rating Scale (MADRS). Specifically, the REL-1017 treatment showed a MADRS reduction of 14.8 points at Day 28 versus 13.9 points for placebo, a higher-than-expected placebo response. Relmada described that “[p]aradoxical results were observed in certain study sites, where placebo dramatically outperformed REL-1017.”
Following this news, Relmada’s stock price fell nearly 80% to close at $6.48 per share on October 13, 2022.
For more information on the Relmada investigation go to: https://bespc.com/cases/RLMD
DoubleVerify Holdings, Inc. (NYSE: DV)
On May 2, 2023, Spruce Point Capital Management published a report alleging that there is evidence DoubleVerify engaged in manipulative and deceptive financial reporting related to its international business.
On this news, DoubleVerify’s share price fell $1.69, or 5.8%, to close at $27.22 per share on May 2, 2023, thereby injuring investors.
For more information on the DoubleVerify investigation go to: https://bespc.com/cases/DV
Castle Biosciences, Inc. (NASDAQ: CSTL)
Castle is a commercial-stage diagnostics company, focused on providing diagnostic and prognostic testing services for dermatological cancers and mental health conditions. On June 2, 2023, during the 2023 American Society of Clinical Oncology annual meeting, Castle Biosciences discussed trial results for its IDgenetix tests, which diagnoses moderate to severe depression.
On this news, the price of Castle shares declined by $11.07 per share, or approximately 48.70%, from $22.73 per share to close at $11.66 on June 5, 2023.
For more information on the Castle investigation go to: https://bespc.com/cases/CSTL
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.