{"id":384569,"date":"2020-11-18T18:03:25","date_gmt":"2020-11-18T23:03:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=384569"},"modified":"2020-11-18T18:03:25","modified_gmt":"2020-11-18T23:03:25","slug":"bragar-eagel-squire-p-c-reminds-investors-that-class-action-lawsuits-have-been-filed-against-turquoise-hill-resources-reta-pharmaceuticals-evolus-and-las-vegas-sands-and-encourages-investor-2","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/bragar-eagel-squire-p-c-reminds-investors-that-class-action-lawsuits-have-been-filed-against-turquoise-hill-resources-reta-pharmaceuticals-evolus-and-las-vegas-sands-and-encourages-investor-2\/","title":{"rendered":"Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Turquoise Hill Resources, Reta Pharmaceuticals, Evolus, and Las Vegas Sands and Encourages Investors to Contact the Firm"},"content":{"rendered":"
\n

NEW YORK, Nov. 18, 2020 (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 Turquoise Hill Resources Ltd. (NYSE: TRQ), Reata Pharmaceuticals, Inc. (NASDAQ: RETA), Evolus, Inc. (NASDAQ: EOLS), and Las Vegas Sands Corporation (NYSE: LVS). 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.<\/p>\n

\n Turquoise Hill Resources Ltd. (NYSE: TRQ)<\/strong>\n <\/p>\n

Class Period: July 17, 2018 to July 31, 2019<\/p>\n

Lead Plaintiff Deadline: December 14, 2020<\/p>\n

Turquoise Hill is an international mining company focused on the operation and development of the Oyu Tolgoi copper-gold mine in Southern Mongolia (\u201cOyu Tolgoi\u201d), which is the Company\u2019s principal and only material resource property. Turquoise Hill\u2019s subsidiary, Oyu Tolgoi LLC, holds a 66% interest in Oyu Tolgoi, and the remainder is held by the Government of Mongolia.<\/p>\n

Rio Tinto plc and Rio Tinto Limited are operated and managed together as single economic unit and engage in mining and metals operations in approximately 35 countries. Through their subsidiaries, Rio Tinto owns 50.8% of Turquoise Hill. A Rio Tinto subsidiary, Rio Tinto International Holdings, Inc. (\u201cRio Tinto International\u201d or \u201cRTIH\u201d; and collectively with Rio Tinto plc and Rio Tinto Limited, \u201cRio Tinto\u201d), is also the manager of the Oyu Tolgoi project, including having responsibility for its development and construction.<\/p>\n

On July 31, 2019, Turquoise Hill issued a press release and Management Discussion & Analysis (\u201cMD&A\u201d) making further disclosures about the status of the project, including that Turquoise Hill took a $600 million impairment charge and a substantial \u201cdeferred income tax recognition adjustment\u201d tied to the Oyu Tolgoi project, and that it suffered a loss in the second quarter. The next day, before the market open, Rio Tinto issued a release concerning in part the project status, including that it had also taken an impairment charge related to the Oyu Tolgoi project, of $800 million.<\/p>\n

Following this news, on August 1, 2019, Turquoise Hill\u2019s common stock price closed at $0.53 per share, down 8.62% from the prior day\u2019s closing price of $0.58 per share.<\/p>\n

The complaint, filed on October 15, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements and omitted to disclose material facts regarding the Company\u2019s business and operations. Specifically, defendants made false and or misleading statements and\/or failed to disclose that: (i) the progress of underground development of Oyu Tolgoi was not proceeding as planned; (ii) there were significant undisclosed underground stability issues that called into question the design of the mine, the projected cost and timing of production; (iii) the Company\u2019s publicly disclosed estimates of the cost, date of completion and dates for production from the underground mine were not achievable; (iv) the development capital required for the underground development of Oyu Tolgoi would cost substantially more than a billion dollars over what the Company had represented; and (v) Turquoise Hill would require additional financing and\/or equity to complete the project.<\/p>\n

For more information on the Turquoise Hill class action go to: https:\/\/bespc.com\/cases\/TRQ<\/a><\/p>\n

\n Reata Pharmaceuticals, Inc. (NASDAQ: RETA)<\/strong>\n <\/p>\n

Class Period: October 15, 2019 to August 7, 2020<\/p>\n

Lead Plaintiff Deadline: December 14, 2020<\/p>\n

Reata is a clinical stage biopharmaceutical company that develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways that regulate cellular metabolism and inflammation.<\/p>\n

Among Reata\u2019s drug candidates under development is omaveloxolone, which is in Phase 2 clinical development to treat Friedreich’s ataxia (\u201cFA\u201d).\u00a0 Following the announcement of positive data from the MOXIe Part 2 study of omaveloxolone for FA in\u00a0October 2019, the Company represented that it would seek submission for marketing approval of omaveloxolone for the treatment of FA in the U.S. with the U.S. Food and Drug Administration (\u201cFDA\u201d).<\/p>\n

On\u00a0August 10, 2020, Reata issued a press release announcing its second quarter 2020 financial results, wherein it disclosed that the FDA is \u201cnot convinced that the MOXIe Part 2 results\u201d of the Company’s study assessing omaveloxolone for the treatment of FA \u201cwill support a single study approval without additional evidence that lends persuasiveness to the results,\u201d and that, \u201c[i]n preliminary comments for [a] meeting, the FDA stated that [Defendants] will need to conduct a second pivotal trial that confirms the mFARS [modified Friedreich’s Ataxia Rating Scale] results of the MOXIe Part 2 study with a similar magnitude of effect.\u201d<\/p>\n

On this news, Reata\u2019s stock price fell\u00a0$51.79\u00a0per share, or 33.16%, to close at\u00a0$104.41\u00a0per share on\u00a0August 10, 2020.<\/p>\n

The Complaint, filed on October 15, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company\u2019s business.\u00a0 Specifically, defendants made false and\/or misleading statements and\/or failed to disclose that:\u00a0 (i) the MOXIe Part 2 study results were insufficient to support a single study marketing approval of omaveloxolone for the treatment of FA in the U.S. without additional evidence; (ii) as a result, it was foreseeable that the FDA would not accept marketing approval of omaveloxolone for the treatment of FA in the U.S. based on the MOXIe Part 2 study results; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.<\/p>\n

For more information on the Reata class action go to: https:\/\/bespc.com\/cases\/REATA<\/a><\/p>\n

\n Evolus<\/strong>
\n , Inc. (NASDAQ: EOLS)<\/strong>\n <\/p>\n

Class Period: February 1, 2019 to July 6, 2020<\/p>\n

Lead Plaintiff Deadline: December 15, 2020<\/p>\n

Beginning in February 2019, Evolus embarked on a public campaign to hype the market right before the commercial launch of its sole leading product Jeuveau\u2122. To secure an aggressive growth and an rapid influx of revenue, Evolus disseminated dozens of public statements in which they promoted Jeuveau\u2122 as a proprietary formulation of the botulinum toxic type A complex, purportedly developed by Korean bioengineering company Daewoong through years of clinical research and millions of dollars\u2019 worth of investment in research and development. Among other things, Evolus promised investors that it would attain the number two U.S. market position within 24 months of launch.<\/p>\n

The investing public learned the real truth about Jeuveau\u2122 on July 6, 2020 when the U.S. International Trade Commission (\u201cITC\u201d) issued its Initial Final Determination in a case brought by Allergan and Medytox against Evolus, alleging that Evolus stole certain trade secrets to develop Jeuveau\u2122. Coming as a great surprise to the unsuspecting investors, the ITC Judge found that Evolus misappropriated the botulinum toxin strain as well as the manufacturing processes that led to its development and manufacture. To make things even more catastrophic, the ITC Judge recommended a ten-year long ban on Evolus\u2019 ability to import Jeuveau\u2122 into the United States and a ten-year long cease and desist order preventing Evolus from selling Jeuveau\u2122 in the United States.<\/p>\n

On this news Evolus\u2019s share price declined sharply, falling 37% over the course of two trading days, to close at $3.35 on July 8, 2020. Following the news of the ITC\u2019s Initial Final Determination and the subsequent price drop of Evolus\u2019s common shares, several securities analysts downgraded Evolus\u2019s rating and significantly lowered the Company\u2019s price target.<\/p>\n

The complaint, filed on October 16, 2020, alleges that throughout the Class period defendants made materially false and misleading statements, and failed to disclose material adverse facts about the Company\u2019s business, operational, and compliance policies. Specifically, defendants made false and\/or misleading statements and failed to disclose to investors that: (i) the real source of botulinum toxin bacterial strain as well as the manufacturing processes used to develop Jeuveau\u2122 originated with and were misappropriated from Medytox; (ii) sufficient evidentiary support existed for the allegations that Evolus misappropriated certain trade secrets relating to the botulin toxin strain and the manufacturing processes for the development of Jeuveau\u2122; (iii) as a result, Evolus faced a real threat of regulatory and\/or court action, prohibiting the import, marketing, and sale of Jeuveau\u2122; which in turn (iv) seriously threatened Evolus\u2019 ability to commercialize Jeuveau\u2122 in the United States and generate revenue; and (v) any revenues generated from the sale of Jeuveau\u2122 were based on Evolus\u2019 unlawful activities, including the misappropriation of trade secrets and secret manufacturing processes belonging to Allergan and Medytox.<\/p>\n

For more information on the Evolus class action go to: https:\/\/bespc.com\/cases\/EOLS<\/a><\/p>\n

\n Las Vegas Sands Corporation (NYSE: LVS) <\/strong>\n <\/p>\n

Class Period: February 27, 2016 to September 15, 2020<\/p>\n

Lead Plaintiff Deadline: December 21, 2020<\/p>\n

Las Vegas Sands was founded in 1988 and is based in Las Vegas, Nevada. The Company, together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the U.S., which offer various amenities.<\/p>\n

Las Vegas Sands\u2019 properties include, among others, the Marina Bay Sands resort in Singapore, which operates a casino.<\/p>\n

On July 19, 2020, Bloomberg News reported that Las Vegas Sands had settled a lawsuit brought by a former patron, Wang Xi (\u201cXi\u201d), meeting his demand for a S$9.1 million ($6.5 million) payment. Xi reportedly sued the Marina Bay Sands casino in 2019 to recover S$9.1 million of his funds that the casino allegedly transferred to other patrons from his casino deposit accounts in 2015 without his approval, which triggered a probe into the casino by local authorities. Bloomberg News also reported that the U.S. Department of Justice (\u201cDOJ\u201d) \u201cis also scrutinizing whether anti-money laundering procedures had been breached in the way the Singapore casino handles high rollers.\u201d<\/p>\n

On this news, Las Vegas Sands\u2019 stock price fell $1.41 per share, or 2.9%, to close at $47.28 per share on July 20, 2020.<\/p>\n

Then, on September 16, 2020, Bloomberg reported that Marina Bay Sands \u201chas hired a law firm to conduct a new investigation into employee transfers of more than $1 billion in gamblers\u2019 money to third parties[.]\u201d The article quoted the Singapore Casino Regulatory Authority (\u201cCRA\u201d) as stating that \u201cthere were weaknesses in [Marina Bay Sands\u2019] casino control measures pertaining to fund transfers[.]\u201d<\/p>\n

On this news, Las Vegas Sands\u2019 stock price fell $2.18 per share, or 4.2%, to close at $49.67 per share on September 16, 2020.<\/p>\n

The complaint, filed on October 22, 2020, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company\u2019s business, operational, and compliance policies. Specifically, defendants made false and\/or misleading statements and\/or failed to disclose that: (i) weaknesses existed in Marina Bay Sands\u2019 casino control measures pertaining to fund transfers; (ii) the Marina Bay Sands\u2019 casino was consequently prone to illicit fund transfers that implicated, among other issues, the transfer of customer funds to unauthorized persons and potential breaches in the Company\u2019s anti-money laundering procedures; (iii) the foregoing foreseeably increased the risk of litigation against the Company, as well as investigation and increased oversight by regulatory authorities; (iv) Las Vegas Sands had inadequate disclosure controls and procedures; (v) consequently, all the foregoing issues were untimely disclosed; and (vi) as a result, the Company\u2019s public statements were materially false and misleading at all relevant times.<\/p>\n

For more information on the Las Vegas Sands class action go to: https:\/\/bespc.com\/cases\/LVS<\/a><\/p>\n

\n About <\/strong>
\n Bragar<\/strong>
\n Eagel<\/strong>
\n & Squire, P.C.:<\/strong>
\n
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. 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<\/u><\/a>. Attorney advertising. Prior results do not guarantee similar outcomes.<\/p>\n

\n Contact Information:<\/strong>
\n
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com<\/u><\/a>
www.bespc.com<\/u><\/a><\/p>\n

\n
\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, Nov. 18, 2020 (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 Turquoise Hill Resources Ltd. (NYSE: TRQ), Reata Pharmaceuticals, Inc. (NASDAQ: RETA), Evolus, Inc. (NASDAQ: EOLS), and Las Vegas Sands Corporation (NYSE: LVS). 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. Turquoise Hill Resources Ltd. (NYSE: TRQ) Class Period: July 17, 2018 to July 31, 2019 Lead Plaintiff Deadline: December 14, 2020 Turquoise Hill is an international mining company focused on the operation and development of the Oyu Tolgoi … <\/p>\n

Continue reading “Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Turquoise Hill Resources, Reta Pharmaceuticals, Evolus, and Las Vegas Sands and Encourages Investors to Contact the Firm”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-384569","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nBragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Turquoise Hill Resources, Reta Pharmaceuticals, Evolus, and Las Vegas Sands and Encourages Investors to Contact the Firm - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/bragar-eagel-squire-p-c-reminds-investors-that-class-action-lawsuits-have-been-filed-against-turquoise-hill-resources-reta-pharmaceuticals-evolus-and-las-vegas-sands-and-encourages-investor-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bragar Eagel & Squire, P.C. 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(NYSE: TRQ) Class Period: July 17, 2018 to July 31, 2019 Lead Plaintiff Deadline: December 14, 2020 Turquoise Hill is an international mining company focused on the operation and development of the Oyu Tolgoi … Continue reading "Bragar Eagel & Squire, P.C. 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Reminds Investors That Class Action Lawsuits Have Been Filed Against Turquoise Hill Resources, Reta Pharmaceuticals, Evolus, and Las Vegas Sands and Encourages Investors to Contact the Firm - Market Newsdesk","og_description":"NEW YORK, Nov. 18, 2020 (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 Turquoise Hill Resources Ltd. (NYSE: TRQ), Reata Pharmaceuticals, Inc. (NASDAQ: RETA), Evolus, Inc. (NASDAQ: EOLS), and Las Vegas Sands Corporation (NYSE: LVS). 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. Turquoise Hill Resources Ltd. (NYSE: TRQ) Class Period: July 17, 2018 to July 31, 2019 Lead Plaintiff Deadline: December 14, 2020 Turquoise Hill is an international mining company focused on the operation and development of the Oyu Tolgoi … Continue reading \"Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Turquoise Hill Resources, Reta Pharmaceuticals, Evolus, and Las Vegas Sands and Encourages Investors to Contact the Firm\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/bragar-eagel-squire-p-c-reminds-investors-that-class-action-lawsuits-have-been-filed-against-turquoise-hill-resources-reta-pharmaceuticals-evolus-and-las-vegas-sands-and-encourages-investor-2\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-18T23:03:25+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA4ODUzMiMzODMzOTAxIzIxMDAzOTg=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bragar-eagel-squire-p-c-reminds-investors-that-class-action-lawsuits-have-been-filed-against-turquoise-hill-resources-reta-pharmaceuticals-evolus-and-las-vegas-sands-and-encourages-investor-2\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/bragar-eagel-squire-p-c-reminds-investors-that-class-action-lawsuits-have-been-filed-against-turquoise-hill-resources-reta-pharmaceuticals-evolus-and-las-vegas-sands-and-encourages-investor-2\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Bragar Eagel & Squire, P.C. 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