IART - Bragar Eagel & Squire P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against DigitalOcean Integra and Enviva and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of DigitalOcean Holdings, Inc. (NYSE:DOCN), Integra LifeSciences Holdings Corp. (NASDAQ:IART), and Enviva Inc. (NYSE:EVA). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
DigitalOcean Holdings, Inc. (NYSE:DOCN)
Class Period: February 16, 2023 - August 25, 2023
Lead Plaintiff Deadline: November 13, 2023
After the market closed on August 3, 2023, DigitalOcean Holdings announced quarterly financial results and disclosed that the Company's previously issued financial statements for the period ending March 31, 2023 should no longer be relied on due to accounting errors that resulted in an overstatement of the Company's income tax expense in the quarter of approximately $18 million. As a result of the errors, the Company would be restating its first quarter 2023 financials and announced that the restatement would "also include disclosure of an identified material weakness and that our disclosure controls and procedures were not effective as of March 31, 2023."
On this news, DigitalOcean's stock price dropped approximately 24.8% in intraday trading the following day on August 4, 2023.
According to the complaint, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants misled investors by failing to disclose that: (1) Defendants lacked the skills and experience to assess complicated tax matters and therefore did not design or maintain effective controls over the Company's accounting for income taxes; and (2) that as a result of the foregoing, Defendants' financial statements were inaccurate and materially misleading.
For more information on the DigitalOcean class action go to: https://bespc.com/cases/DOCN
Integra LifeSciences Holdings Corp. (NASDAQ:IART)
Class Period: March 11, 2019 - May 22, 2023
Lead Plaintiff Deadline: November 13, 2023
The claims against Defendants arise from the Company's violations of federal manufacturing regulations governing medical devices, which are intended to protect patients receiving these medical devices from infections and ...