August 11, 2019 - 9:12 PM EDT
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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Netflix, EQT, Eagle Bancorp, and Karyopharm and Encourages Investors to Contact the Firm

NEW YORK, Aug. 11, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Netflix, Inc. (NASDAQ: NFLX), EQT Corporation (NYSE: EQT), Eagle Bancorp, Inc. (NASDAQ: EGBN), and Karyopharm Therapeutics, Inc. (NASDAQ: KPTI). 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.

Netflix, Inc. (NASDAQ: NFLX)

Class Period: April 17, 2019 to July 17, 2019

Lead Plaintiff Deadline: September 20, 2019

The complaint, filed on July 22, 2019, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Netflix would not be able to gain its expected target number of new subscribers in the second quarter of 2019; (2) Netflix would also lose subscribers from the United States in the second quarter of 2019; and (3) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

For more information on the Netflix class action go to: https://bespc.com/nflx

EQT Corporation (NYSE: EQT)

Lead Plaintiff Deadline: August 26, 2019

Class Period: June 19, 2017 to October 24, 2018

The Complaint, filed on June 26, 2019, alleges that during the Class Period defendants falsely stated that EQT's acquisition of Rice, a rival gas producer, would yield billions of dollars in synergies based on purported operational benefits. Specifically, on June 19, 2017, defendants announced that EQT had entered into an agreement to acquire Rice for $6.7 billion. Defendants represented that because Rice had an acreage footprint largely contiguous to EQT's existing acreage, the acquisition would allow EQT to achieve "a 50% increase in average lateral [drilling] lengths" (as opposed to more traditional vertical well drilling). EQT claimed that as a result, the merger would result in $2.5 billion in synergies, including $100 million in cost savings in 2018 alone. After the closing in November 2017, the Company continued to tout the "significant operational synergies" of the merger. As a result of defendants' misrepresentations, EQT shares traded at artificially inflated prices throughout the Class Period. On March 15, 2018, just five months after the acquisition closed, EQT announced the sudden and unexpected resignation of its CEO. Then, on October 25, 2018, the Company reported poor third-quarter financial results caused by an increase in total costs and disclosed that its estimated capital expenditures for well development in 2018 would increase by $300 million. As a result, the Company reduced its full year forecast for 2018. These disclosures caused EQT shares to decline by 13%, dropping from a close of $40.46 per share on October 24, 2018 to $35.34 on October 25, 2018.

To learn more about the EQT class action go to: https://bespc.com/eqt

Eagle Bancorp, Inc. (NASDAQ: EGBN)

Lead Plaintiff Deadline: September 23, 2019

Class Period: March 2, 2015 to July 19, 2019

The complaint, filed on July 24, 2019, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) Eagle Bancorp’s internal controls and procedures and compliance policies were inadequate; (ii) the foregoing shortcoming created a foreseeable risk of heightened regulatory scrutiny and the need for the Company to undertake its own internal investigations; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On July 17, 2019, Eagle Bancorp disclosed rising legal costs stemming from ongoing internal and government investigations of “the Company’s identification, classification and disclosure of related party transactions; the retirement of certain former officers and directors; and the relationship of the Company and certain of its former officers and directors with a local public official.”

On this news, Eagle Bancorp’s stock price fell $14.30 per share, or 26.75%, to close at $39.15 per share on July 18, 2019.

For more information on the Eagle Bancorp class action go to: https://bespc.com/EGBN

Karyopharm Therapeutics, Inc. (NASDAQ: KPTI)

Lead Plaintiff Deadline: September 23, 2019

Class Period: March 2, 2017 to February 22, 2019

The Complaint, filed on July 23, 2019, alleges that during the Class Period defendants falsely represented the safety and efficacy of selinexor, a pharmaceutical drug intended for the treatment of various types of cancer that Karyopharm was in the process of developing. Specifically, defendants' material misrepresentations and omissions center on defendants' claims regarding results from clinical trials for selinexor's treatment of patients with certain types of blood cancer. During the Class Period, defendants claimed that selinexor studies showed that selinexor was "well-tolerated" by patients and explained that there were "no new clinically significant adverse events in the patients receiving selinexor." The Company repeatedly touted the commercial prospects for selinexor and consistently described selinexor as having a "predictable and manageable tolerability profile" and a "very nice safety profile." In reality, selinexor was unsafe with limited efficacy.

The truth was revealed on February 22, 2019, when the Federal Drug Administration ("FDA") released a briefing document that expressed serious concerns with selinexor. Specifically, the FDA revealed that, contrary to Karyopharm's assurances, one of the previously cancelled selinexor trials had resulted in "worse overall survival" for certain patients treated with selinexor, which "highlight[ed] the toxicity of this drug." The FDA unambiguously concluded that "[t]reatment with selinexor is associated with significant toxicity" and has "limited efficacy." These disclosures caused the Company's stock price to decline from $8.97 per share to $5.07 per share, or more than 43%.

For more information on the karyopharm class action go to: https://bespc.com/KPTI

Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation.  For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com.  Attorney advertising.  Prior results do not guarantee similar outcomes. 

Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
[email protected]
www.bespc.com

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Source: GlobeNewswire (August 11, 2019 - 9:12 PM EDT)

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