NEW YORK, June 19, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Texas Capital Bancshares, Inc. (NASDAQ: TCBI), EPAM Systems, Inc. (NYSE: EPAM), 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.
Texas Capital Bancshares, Inc. (NASDAQ: TCBI)
On March, 29, 2021, shares of Texas Capital stock dropped 13% on unusually heavy trading volume as prime brokers associated with now-defunct family office, Archegos Capital Management, unwound large U.S. stock positions linked to the fund.
A Bloomberg article published on November 16, 2021 detailed how Archegos built up a previously undisclosed position equal to 20% of Texas Capital prior to the margin calls that forced Archegos’ liquidation. According to the article, Texas Capital was aware of the large position held by Archegos while it raised additional capital from investors in February 2021.
For more information on the Texas Capital investigation go to: https://bespc.com/cases/TCBI
EPAM Systems, Inc. (NYSE: EPAM)
On June 5, 2023, just one month after issuing guidance during its first quarter earnings call on May 5, 2023, EPAM lowered its expectations for the second quarter and the full year, claiming that the demand for IT consulting appeared to have dried up.
On this news, EPAM's stock price fell $56.40 per share, or 21.72%, to close at $203.25 per share on June 5, 2023.
For more information on the EPAM investigation go to: https://bespc.com/cases/EPAM
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.