NEW YORK, June 04, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Relmada Therapeutics, Inc. (NYSE: RLMD), Bowlero Corp. (NYSE: BOWL), and Integra LifeSciences Holdings Corp. (NASDAQ: IART). 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.
Relmada Therapeutics, Inc. (NYSE: RLMD)
Before market opened on October 13, 2022, Relmada announced the results of its RELIANCE III study (REL-1017-303), evaluating the drug REL-1017 as a monotherapy for Major Depressive Disorder (MDD). Relmada revealed that the RELIANCE III trial did not achieve its primary endpoint, which was a statistically significant improvement in depression symptoms compared to placebo on Day 28, as measured by the Mongomery-Asberg Depression Rating Scale (MADRS). Specifically, the REL-1017 treatment showed a MADRS reduction of 14.8 points at Day 28 versus 13.9 points for placebo, a higher-than-expected placebo response. Relmada described that “[p]aradoxical results were observed in certain study sites, where placebo dramatically outperformed REL-1017.”
Following this news, Relmada’s stock price fell nearly 80% to close at $6.48 per share on October 13, 2022.
For more information on the Relmada investigation go to: https://bespc.com/cases/RLMD
Bowlero Corp. (NYSE: BOWL)
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Bowlero announced its Q3 2023 financial results on May 17, 2023. The Company disclosed as part of its results that it had failed to maintain appropriate controls over financial reporting related to, among other things, acquisitions and fixed assets. The Company also noted, “Additionally, we did not design and maintain effective controls over system access controls to establish segregation of duties for those with roles and responsibilities for the general ledger.”
On this news, shares of Bowlero fell more than 15% in intraday trading on May 18, 2023.
For more information on the Bowlero investigation go to: https://bespc.com/cases/BOWL
Integra LifeSciences Holdings Corp. (NASDAQ: IART)
On May 23, 2023, Integra disclosed that it had initiated a recall of its Surgimed, PriMatrix, Revize, and TissueMend products manufactured at its Boston facility as far back as March 1, 2018. The Company attributed the recall to a finding that products may have been distributed with higher levels of endotoxins than permitted by the product specifications. As a result, the Company expects to write off approximately $22 million in inventory.
On this news, Integra’s stock price fell $10.24, or 20.2%, to close at $40.48 per share on May 23, 2023, thereby injuring investors.
For more information on the Integra investigation go to: https://bespc.com/cases/IART
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.