NEW YORK, July 16, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Castle Biosciences, Inc. (NASDAQ: CSTL), Coinbase Global, Inc. (NASDAQ: COIN), Arrival SA (NASDAQ: ARVL), and BeiGene Ltd. (NASDAQ: BGNE). 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.
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
Coinbase Global, Inc. (NASDAQ: COIN)
On March 22, 2023, Coinbase said in a regulatory filing that it received a Wells notice from the Securities and Exchange Commission ("SEC") stating that SEC staff had made a "preliminary determination" to recommend an enforcement action against the largest U.S. crypto exchange for violations of federal securities laws.
On this news, shares of Coinbase common stock dropped $6.85 per share, or over 8%, to close at $77.14 per share on March 22, 2023.
For more information on the Coinbase investigation go to: https://bespc.com/cases/COIN
Arrival SA (NASDAQ: ARVL)
On July 3, 2023, Arrival and Kensington Capital Acquisition Corp. V, a special purpose acquisition company, issued a press release “announc[ing] that both companies have agreed to terminate the business combination agreement (‘BCA’) initially signed April 6, 2023. Arrival stated that it “has engaged the services of TD Cowen and Teneo Financial Advisory to ensure the company’s seamless transition and to pursue alternative avenues that will provide the company with additional liquidity.”
On this news, Arrival’s stock price fell $0.39 per share, or 14.08%, to close at $2.38 per share on July 5, 2023.
For more information on the Arrival investigation go to: https://bespc.com/cases/ARVL
BeiGene Ltd. (NASDAQ: BGNE)
On June 15, 2023, before the market opened, Morningstar released an article entitled “BeiGene shares drop after AbbVie unit files patent infringement lawsuit over cancer drug.” The article stated, in pertinent part, “AbbVie’s (ABBV) Pharmacyclics unit filed a patent-infringement lawsuit against the biotech company. BeiGene’s manufacture and sale of Brukinsa for treatment of chronic lymphocytic leukemia and small lymphocytic lymphoma infringe on Pharmacyclics’ patent for Imbruvica, which treats the same conditions, Pharmacyclics alleged in the complaint filed Tuesday in federal court in Delaware. Brukinsa in January received U.S. Food and Drug Administration approval for treatment of chronic lymphocytic leukemia and small lymphocytic lymphoma.”
On this news, the price of BeiGene American Depositary Shares (“ADS” or “ADSs”) declined by $7.08, or 3.4%, to close at $201.04. The next day, BeiGene ADS’ declined by as much as $5.3, or 2.65%, in intraday trading.
For more information on the BeiGene investigation go to: https://bespc.com/cases/BGNE
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.