NEW YORK, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Moore Kuehn, PLLC, a securities law firm located on Wall Street, is investigating potential claims involving directors and officers regarding possible breaches of fiduciary duties related to whether insiders caused their companies to make false and/or misleading statements and/or failed to disclose, among other things, that:
- K12 Inc. (NYSE: LRN)
K12 lacked the technological capabilities, infrastructure, and expertise to support the increased demand for virtual and blended education necessitated by the global pandemic; K12 lacked adequate cyberattack protocols and protections to prevent the disabling of its computer systems; K12 was unable to provide the necessary levels of administrative support and training to teachers, students, and parents; and K12's officers lacked a reasonable basis for their positive statements about the Company's business, operations, and prospects.
- Peabody Energy Corporation (NYSE: BTU)
The Company failed to implement adequate safety controls at the North Goonyella mine to prevent the risk of a spontaneous combustion, failing to follow its own safety procedure.
- Credit Acceptance Corp. (NASDAQ: CACC)
The Company was packing pools with higher-risk loans; making high-interest subprime auto loans to borrowers knowing borrowers would be unable to repay; the borrowers were subject to hidden finance charges, resulting in loans exceeding the usury rate ceiling mandated by state law; and taking excessive and illegal measures to collect debt from defaulted borrowers. As a result, the Company was likely to face regulatory scrutiny and possible penalties from various regulators or lawsuits.
- Wrap Technologies, Inc. (NASDAQ: WRTC)
The Company had concealed the results of the LAPD BolaWrap pilot program, which demonstrated that the BolaWrap was ineffective, expensive, and sparingly used in the field; as a result, public statements were materially false and/or misleading at all relevant times.
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Moore Kuehn, PLLC
Fletcher Moore, Esq.
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New York, New York 10005