NEW YORK, April 15, 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 Ultra Clean Holdings, Inc. (NASDAQ: UCTT), Zynex, Inc. (NASDAQ: ZYXI), Perpetua Resources Corp. (NASDAQ: PPTA), and SoundHound AI, Inc. (NASDAQ: SOUN). 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.
Ultra Clean Holdings, Inc. (NASDAQ: UCTT)
Class Period: May 6, 2024 - February 24, 2025
Lead Plaintiff Deadline: May 23, 2025
The Complaint alleges that throughout the Class Period, Defendants made false and misleading statements to the market. Specifically, the Complaint alleges that: (1) Ultra Clean misled investors about customer demand in China; (2) the Company suffered from a significant ramp issue with a critical customer; (3) the Company also concealed inventory and demand corrections which caused weakness in the Chinese domestic market; and (4) based on these facts, the Company's public statements were false and materially misleading throughout the class period.
For more information on the Ultra Clean class action go to: https://bespc.com/cases/UCTT
Zynex, Inc. (NASDAQ: ZYXI)
Class Period: March 13, 2023 - March 11, 2025
Lead Plaintiff Deadline: May 19, 2025
The complaint filed in this class action 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, Defendants failed to disclose to investors: (1) that Zynex shipped products, including electrodes, in excess of need; (2) that, as a result of this practice, the Company inflated its revenue; (3) that the Company’s practice of filing false claims drew scrutiny from insurers, including Tricare; (4) that, as a result, it was reasonably likely that Zynex would face adverse consequences, including removal from insurer networks and penalties from the federal government; and (5) 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 Zynex class action go to: https://bespc.com/cases/ZYXI
Perpetua Resources Corp. (NASDAQ: PPTA)
Class Period: April 17, 2024 - February 13, 2025
Lead Plaintiff Deadline: May 20, 2025
According to the complaint, defendants provided investors with material information concerning Perpetua’s expected initial capital expenditure for the Stibnite Gold Project. Defendants’ statements included, among other things, minimization of the impact of inflation and other potential sources for increased capital expenditure costs for the project.
On February 13, 2025, Perpetua published an updated cash flow model for the Stibnite Gold Project, unveiling additional capital expenses of $952 million, a more than 75% increase from the original figures presented to investors and well beyond the suggested 10-20% increase contemplated by defendants. The Company attributed these increased costs on inflation, indirect costs, higher mining costs, and direct decisions defendants made with respect to the project, including the choice to change the design of the electrical poles from timber to steel and the decision to “buy-and-build instead of lease the oxygen plant.”
Following this news, the price of Perpetua’s common stock declined dramatically. From a closing market price of $11.97 per share on February 13, 2025, Perpetua’s stock price fell to $9.29 per share on February 14, 2025, a decline of about 22.39% in the span of just a single day.
For more information on the Perpetua class action go to: https://bespc.com/cases/PPTA
SoundHound AI, Inc. (NASDAQ: SOUN)
Class Period: May 10, 2024 - March 3, 2025
Lead Plaintiff Deadline: May 27, 2025
According to the complaint, during the class period, defendants failed to disclose that: (i) the material weaknesses in SoundHound's internal controls over financial reporting impaired the Company's ability to effectively account for corporate acquisitions; (ii) in addition, the Company overstated the extent to which it had remediated, and/or its ability to remediate, the material weaknesses in its internal controls over financial reporting; (iii) as a result of the foregoing material weaknesses, SoundHound's reported goodwill following the Amelia Acquisition was inflated and would need to be corrected; (iv) further, SoundHound would likely require extra time and expense to effectively account for the SYNQ3 and Amelia Acquisitions; and (v) the foregoing increased the risk that the Company would be unable to timely file certain financial reports with the SEC.
On March 4, 2025, SoundHound disclosed in a filing with the SEC that it would be unable to timely file its Annual Report for 2024. SoundHound stated that "[d]ue to the complexity of accounting for [the SYNQ3 and Amelia Acquisitions], the Company require[d] additional time to prepare financial statements and accompanying notes" and that it "ha[d] identified material weaknesses in its internal control over financial reporting." On this news, SoundHound's stock price fell $0.61 per share, or 5.86%, to close at $9.72 per share on March 4, 2025.
For more information on the SoundHound class action go to: https://bespc.com/cases/SOUN
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
