Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Capri, Applied Therapeutics, Nextracker, and Transocean and Encourages Investors to Contact the Firm

/EIN News/ -- NEW YORK, Jan. 29, 2025 (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 Capri Holdings Limited (NYSE:CPRI), Applied Therapeutics, Inc. (NASDAQ:APLT), Nextracker Inc. (NASDAQ:NXT), and Transocean Ltd. (NYSE: RIG). 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.

Capri Holdings Limited (NYSE:CPRI)

Class Period: August 10, 2023 - October 24, 2024

Lead Plaintiff Deadline: February 21, 2025

The Capri class action lawsuit alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) the accessible luxury handbag market is a distinct and well-defined market within the overall handbag market and understood as such by the individual defendants, as well as by other Capri and Tapestry executives; (ii) Capri and Tapestry maintained analogous production facilities and supply chains for their accessible luxury handbags that were distinct from the production facilities and supply chains used to manufacture luxury or mass market handbags, confirming that the accessible luxury handbag market is distinct from the mass market and luxury handbag markets; (iii) Capri and Tapestry internally considered Coach and Michael Kors to be each other's closest and most direct competitors; (iv) that, conversely, Capri and Tapestry did not internally consider their handbag brands to be in direct competition with luxury handbags or mass market handbags; (v) a primary internal rationale for the Capri acquisition was to consolidate prevalent brands within the accessible luxury handbag market so as to reduce competition, increase prices, improve profit margins, and reduce consumer choice within that market; and (vi) as a result of the above, the risk of adverse regulatory actions and/or the Capri acquisition being blocked was materially higher than represented by defendants.

The Capri class action lawsuit further alleges that after a seven-day hearing, on October 24, 2024, Judge Jennifer L. Rochon of the U.S. District Court for the Southern District of New York granted the U.S. Federal Trade Commission's motion to preliminarily enjoin the Capri acquisition. In doing so, the court determined, among other things, that a "substantial body of compelling evidence" demonstrated that, in contrast to their public statements, defendants themselves believed that their brands were direct competitors in a well-defined "accessible luxury handbag market." On news, the price of Capri stock fell by nearly 50%.

For more information on the Capri class action go to: https://bespc.com/cases/CPRI

Applied Therapeutics, Inc. (NASDAQ:APLT)

Class Period: January 3, 2024 - December 2, 2024

Lead Plaintiff Deadline: February 18, 2025

The complaint alleges that on November 27, 2024, Applied Therapeutics issued a press release announcing that it had received a Complete Response Letter (CRL) for the New Drug Application (NDA) for govorestat, the Company’s lead drug candidate. The CRL indicated that the FDA completed its review of the application and determined that it was unable to approve the NDA in its current form citing deficiencies in the clinical application. Following this news, the price of Applied Therapeutics’ common stock declined dramatically. From a closing market price of $10.21 per share on November 26, 2024, Applied Therapeutics’ stock price fell to $8.57 per share on November 27, 2024 before falling further to $2.03 on November 29, 2024 and $1.75 per share on December 2, 2024, a total decline of more than 80%.

After market hours on December 2, 2024, Applied Therapeutics disclosed it received a “warning letter” from the FDA referring to the clinical trial issues underlying the CRL. Applied Therapeutics’ disclosure of the “warning letter” prompted a further decline in the stock price as investors discovered the seriousness and severity of the Company’s clinical trial errors. From a closing market price of $1.75 per share on December 2, 2024, Applied Therapeutics’ stock price fell to $1.69 per share on December 3, 2024 before falling further to $1.38 per share on December 4, 2024 and $1.29 per share on December 5, 2024.

For more information on the Applied Therapeutics class action go to: https://bespc.com/cases/APLT

Nextracker Inc. (NASDAQ:NXT)

Class Period: February 1, 2024 - August 1, 2024

Lead Plaintiff Deadline: February 25, 2025

The filed complaint alleges that defendants made false statements and/or concealed that: (a) the impact of project delays on Nextracker's business, financial results, and prospects was far more severe than represented to investors; (b) permitting and interconnection delays had materially impaired Nextracker's ability to convert backlog into revenue at historical conversion rates; (c) Nextracker had been unable to offset the negative impact from project delays through increased client demand and the purported ability to pull forward its other projects in the manner represented by defendants; (d) Nextracker did not possess the competitive advantages which purportedly shielded it from industry-wide headwinds or the ability to effectively offset the adverse effects of project delays as claimed by defendants; and (e) as a result of (a)-(d) above, defendants lacked a reasonable basis for their positive statements about Nextracker's business, financial results, and prospects.

For more information on the Nextracker class action go to: https://bespc.com/cases/NXT

Transocean Ltd. (NYSE: RIG)

Class Period: October 31, 2023 - September 2, 2024

Lead Plaintiff Deadline: February 24, 2025

The complaint alleges that 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, the complaint alleges that Defendants failed to disclose to investors: (1) the Discoverer Inspiration and the Development Driller III were considered non-strategic assets; (2) the Company's recorded asset valuations were overstated; (3) as a result, the Company would take nearly twice the vessels' sale price in impairment if sold; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

For more information on the Transocean class action go to: https://bespc.com/cases/RIG

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.

Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com