NEW YORK, May 14, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Fox Corporation (NASDAQ: FOX, FOXA), Cutera, Inc. (NASDAQ: CUTR), and Relmada Therapeutics, Inc. (NYSE: RLMD). 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.
Fox Corporation (NASDAQ: FOX, FOXA)
In November and December of 2020, Fox News broadcasted reports stating that the U.S. election was rigged. Fox News specifically called out Smartmatic and Dominion Voting Systems, voting technology and software companies, for their alleged involvement in rigging the election. Both companies have sued Fox for defamation and other claims based on defendants' actions. The judges in both cases have upheld the lawsuits by overruling defendants' motions to dismiss, finding that Smartmatic and Dominion sufficiently pleaded facts to support their claims of defamation.
In ruling in favor of Dominion, Delaware Superior Court Judge Eric M. Davis found Dominion had shown that the Murdochs, Fox's most senior executives, may have been on notice that the conspiracy theory that rigged voting machines tilted the vote was false but let Fox News broadcast it anyway. Dominion cited in its suit a report that Rupert Murdoch spoke with Trump a few days after the election “and informed him that he had lost,” the judge noted.
“These allegations support a reasonable inference that Rupert and Lachlan Murdoch either knew Dominion had not manipulated the election or at least recklessly disregarded the truth when they allegedly caused Fox News to propagate its claims about Dominion,” said Davis.
These lawsuits, which seek billions of dollars, punitive damages and other relief, can deplete Fox's assets, harm Fox's reputation, and prove detrimental to Fox shareholders.
For more information on the Fox investigation go to: https://bespc.com/cases/FOX
Cutera, Inc. (NASDAQ: CUTR)
On March 24, 2023, Cutera issued a press release "announc[ing] . . . that it received a notice . . . from the Listing Qualifications Department of The Nasdaq Stock Market LLC ("Nasdaq") on March 21, 2023 indicating that the Company is not currently in compliance with Nasdaq's Listing Rules . . . due to the Company's inability to timely file its Form 10-K for the year ended December 31, 2022 (the "Form 10-K") with the Securities and Exchange Commission".
On this news, Cutera's stock price fell sharply during intraday trading on March 27, 2023.
For more information on the Cutera investigation go to: https://bespc.com/cases/CUTR
Relmada Therapeutics, Inc. (NYSE: 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
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.