NEW YORK, Sept. 26, 2022 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against GrafTech International Ltd. EAF, EyePoint Pharmaceuticals, Inc. EYPT, Vintage Wine Estates, Inc. VWE, and Flowserve Corporation FLS. 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.
GrafTech International Ltd. EAF
On September 16, 2022, GrafTech announced that operations at its graphite electrode manufacturing facility in Monterey, Mexico, had been suspended after an inspection by the State Attorney's Office for the Secretary of the Environment for the State of Nuevo Leon. The Company also admitted that the Mexican government had determined that its operating license within the country was no longer in effect, and could not provide an estimate for when the manufacturing plant would return to operation.
On this news, Graftech's stock price fell $0.47 per share, or 8.8%, to close at $4.85 per share on September 19, 2022, the next trading day.
For more information on the GrafTech investigation go to: https://bespc.com/cases/EAF
EyePoint Pharmaceuticals, Inc. EYPT
On August 30, 2022, after market hours, EyePoint disclosed that it had received a subpoena from the U.S. Attorney's Office for the District of Massachusetts. The subpoena demanded documents covering the Company's sales practices for its postoperative inflammation treatment, DEXYCU.
On this news, EyePoint stock fell $0.21 per share, or 2%, to close at $10.00 per share on August 31, 2022.
For more information on the EyePoint investigation go to: https://bespc.com/cases/EYPT
Vintage Wine Estates, Inc. VWE
Vintage Wine issued a press release on September 13, 2022, revealing that it had taken $19.1 million in non-cash inventory adjustments that it had "identified through efforts to improve and strengthen inventory management, processes and reporting." The Company added that the adjustments included "physical inventory count adjustments of $12.4 million, $3.7 million related to the establishment of inventory reserves and $3.0 million related to the impact of additional remediation efforts." The Company admitted that these adjustments had fueled a larger loss in the fourth quarter of 2022.
On this news, Vintage Wine's stock price fell $2.26 per share, or 40.6%, to close at $3.30 per share on September 14, 2022.
For more information on the Vintage Wine investigation go to: https://bespc.com/cases/VWE
Flowserve Corporation FLS
On September 13, 2022, Flowserve announced disruptions related to implementing new technology to manage operations and one-time expenses, advising investors that the developments will reduce third-quarter EPS by $0.18 to $0.22.
On this news, Flowserve's stock price fell $2.36 per share, or 7.66%, to close at $28.43 per share on September 14, 2022.
For more information on the Flowserve investigation go to: https://bespc.com/cases/FLS
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.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
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