<span class="article-published" itemprop="datePublished"> <time datetime="2022-04-12T01:00:00Z">April 11, 2022 21:00 ET</time> </span> <span class="article-source" itemprop="sourceOrganization" itemscope itemtype="http://schema.org/Organization"> | Source: <span> <a href="/en/search/organization/Bragar%2520Eagel%2520&%2520Squire" itemprop="name">Bragar Eagel & Squire</a> </span> <meta itemprop="logo" url="https://ml.globenewswire.com/Resource/Download/29481954-f2ff-4756-b5a9-d982a6497bd0?size=2" alt="Company Name Logo" /> <span id="pnr-global-follow-button"></span> </span> <span itemprop="author copyrightHolder" style="display: none;">Bragar Eagel & Squire</span> <br> New York, New York, UNITED STATES <br>NEW YORK, April 11, 2022 (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 GWG Holdings, Inc. (NASDAQ: GWGH), TaskUs, Inc. (NASDAQ: TASK), Gatos Silver, Inc. (NYSE: GATO), and MP Materials Corp. (NYSE: MP). 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.<br /><br><strong>GWG Holdings, Inc. (NASDAQ: GWGH)</strong><br>Class Period: June 3, 2020 Bond Offering<br>Lead Plaintiff Deadline: April 19, 2022<br>On January 18, 2022, GWG disclosed that its Annual Report will likely be filed “later than the March 31, 2022 due date” because of “the recently disclosed decision of its independent registered public accounting firm to decline to stand for reappointment.” The Company further disclosed that it “did not make the January 15, 2022 interest payment of approximately $10.35 million and principal payments of approximately $3.25 million with respect to its L Bonds” product and that it elected to “voluntarily suspend its L Bonds sales effective as of January 10, 2022.” On this news, GWG’s stock price fell $2.17 per share, or 27.7%, to close at $5.65 per share on January 18, 2022.<br>Then, on January 27, 2022, The Wall Street Journal reported that GWG received a subpoena from the Securities and Exchange Commission requesting documents. The article also stated that an attorney representing multiple L Bonds investors said his clients are retail investors who bought the bonds after hearing the products were safe and would offer a comfortable income stream for their retirement, but that “they were shocked to learn that their money was used to pay old investors while the company has been under SEC investigation.”<br>Following this news, GWG’s stock dropped over 20% during intraday trading on January 27, 2022.<br>For more information on the GWG class action go to: <a href="https://www.globenewswire.com/Tracker?data=IAfigkUymXGUns6XveS8uYCSdwvCOeeXRfoSUhs-dea9IrNuoGi4KwmouFz4gU1FHplONh20_cn0n-4pAk0iIG-pKifqOGhyeFoCFBAsLb8=" rel="nofollow noopener" target="_blank" title="">https://bespc.com/cases/GWGH</a><br><strong>TaskUs, Inc. (NASDAQ: TASK)</strong><br>Class Period: June 11, 2021 – January 19, 2022<br>Lead Plaintiff Deadline: April 25, 2022<br>The complaint alleges that throughout the Class Period, Defendants claimed that TaskUs had “industry-leading growth and profitability” and a “simply massive” market opportunity. The complaint further alleges that Defendants touted the size of the Company's workforce and “low employee attrition levels” which “leads to lower hiring and training costs.”<br>These statements were materially false and misleading. On January 20, 2022, Spruce Point Capital Management, LLC (“Spruce Point”) issued a report titled “Moderating the Bull Case Content” based on its “forensic financial and accounting review” of TaskUs. Spruce Point found that TaskUs, “has a pattern of exaggerated and inflated business claims, including revenue, and is covering-up financial strain with reduced disclosures, cherry-picked market data, and non-standard key performance metrics.” Additionally, Spruce Point stated, “we find evidence of increasing strain in the relationship" between TaskUs and its largest customer Facebook “and believe margins and cash flow are set to contract more than expected.” Spruce Point also stated, “we find a pattern of [TaskUs] embellishing the size of its workforce and making overly optimistic revenue growth claims.”<br>This disclosure caused the value of TaskUs stock to decline dramatically, resulting in significant harm to investors.<br>For more information on the TaskUs class action go to: <a href="https://www.globenewswire.com/Tracker?data=IAfigkUymXGUns6XveS8uYCSdwvCOeeXRfoSUhs-deaIW9u7uvPorI1mbPYcK93GMvuHEyRt2EpA9RgIPxqzPsz9Lj0dbtX-yOLSiSi11nQ=" rel="nofollow noopener" target="_blank" title="">https://bespc.com/cases/TASK</a><br><strong>Gatos Silver, Inc. (NYSE: GATO)</strong><br>Class Period: October 28, 2020 IPO; October 28, 2020 – January 25, 2022<br>Lead Plaintiff Deadline: April 25, 2022<br>The litigation focuses on Gatos’ statements concerning its Cerro Los Gatos (“CLG”) mine located in Chihuahua, Mexico, including the Company’s estimates in its July 1, 2020 Technical Report (“2020 Technical Report”) that the CLG deposit “contains approximately 9.6 million diluted tonnes of proven and probable mineral reserves.”<br>According to the complaint, defendants made materially false and misleading statements and failed to disclose material adverse facts, including: (1) that the 2020 Technical Report contained errors; and (2) that, among other things, the GLG mineral reserves had been overestimated by as much as 50%.<br>The truth came to light on Jan. 25, 2022, when Gatos disclosed that during a resource and reserve update process, which included a detailed reconciliation of recent production performance, the Company concluded that there were errors in the 2020 Technical Report, as well as indications that there is an overestimation in the existing resource model. As a result, the Company estimated a potential reduction of the metal content of CLG mineral reserve ranging from 30% to 50% of the metal content and warned that the mineral resource and reserve estimates in the 2020 Technical Report should not be relied upon.<br>This revelation drove the price of Gatos shares as much as 70% lower on January 26, 2022.<br>For more information on the Gatos class action go to: <a href="https://www.globenewswire.com/Tracker?data=IAfigkUymXGUns6XveS8uYCSdwvCOeeXRfoSUhs-debpGscCgpQAa4oOoSUBMLU532Zv47Jv9PCerKDEK_wQC5XCGutZlf-GO9-t5lx7CLc=" rel="nofollow noopener" target="_blank" title="">https://bespc.com/cases/GATO</a><br><strong>MP Materials Corp. (NYSE: MP)</strong><br>Class Period: May 1, 2020 – February 2, 2022<br>Lead Plaintiff Deadline: April 25, 2022<br>A class action has commenced on behalf of certain shareholders in MP Materials Corp f/k/a Fortress Value Acquisition Corp. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Fortress Value Acquisition Corp. (“FVAC”) had overstated its due diligence efforts and expertise with respect to identifying target companies to acquire; (ii) FVAC performed inadequate due diligence into Legacy MP Materials prior to the business combination, or else ignored significant red flags regarding, inter alia, Legacy MP Materials’ management, compliance policies, and Mountain Pass’s profitability; (iii) as a result, the Company’s future business and financial prospects post-business combination were overstated; (iv) MP Materials engaged in an abusive transfer price manipulation scheme with a related party in the People’s Republic of China to artificially inflate the Company’s profits; (v) MP Materials' ore at the Mountain Pass Rare Earth Mine and Processing Facility was not economically viable to harvest for rare earth metals; and (vi) as a result, the Company's public statements were materially false and misleading at all relevant times.<br>For more information on the MP Materials class action go to: <a href="https://www.globenewswire.com/Tracker?data=IAfigkUymXGUns6XveS8uYCSdwvCOeeXRfoSUhs-deZtTo_sdbBdYj8Wkj71X1bM4GLq-hEQzQ6NgUxxq8N1N9llSN_HIivdBYtq0_gTXeo=" rel="nofollow noopener" target="_blank" title="">https://bespc.com/cases/MP</a><br><strong>About Bragar Eagel & Squire, P.C.:</strong><br>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 <a href="https://www.globenewswire.com/Tracker?data=58seD9l8fiPz-UX3oihTbO6sWpTciwqRu1YnlXoREcT9cCnxh1QJdCUhoc0EO5um-Wq5luKbH_M6y73Sl95QkA==" rel="nofollow noopener" target="_blank" title=""><u>www.bespc.com</u></a>. Attorney advertising. Prior results do not guarantee similar outcomes.<br><strong>Contact Information:</strong><br>Bragar Eagel & Squire, P.C.<br />Brandon Walker, Esq. <br />Alexandra B. Raymond, Esq.<br />(212) 355-4648<br /><a href="https://www.globenewswire.com/Tracker?data=cssHwMzcSoqpH1eiVs4kOe8lRCb8pa-vRYdO-fIrgivZjhHj6-P-Lg-9wtFAkX0wKQhRgOv7m6fwg4SHdPVxwHDLyHtZr7rcVW6Fh6wNKw8=" rel="nofollow noopener" target="_blank" title="[email protected]">[email protected]</a><br /><a href="https://www.globenewswire.com/Tracker?data=58seD9l8fiPz-UX3oihTbEcaqHOZ0mwormg9CR_rq8t4gsg4GQx0J8lqk2rd7HCSwtmBcVs2Ps9g6CJpYVkpfA==" rel="nofollow noopener" target="_blank" title="www.bespc.com">www.bespc.com</a><br> <br><br><a href="https://www.globenewswire.com/news-release/2022/04/12/2420526/0/en/Bragar-Eagel-Squire-P-C-Reminds-Investors-That-Class-Action-Lawsuits-Have-Been-Filed-Against-GWG-TaskUs-Gatos-and-MP-and-Encourages-Investors-to-Contact-the-Firm.html">source</a>
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