Bragar Eagel & Squire, PC investigate Carvana,

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NEW YORK, July 31 10, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against Carvana Co. (NYSE: CVNA), Corcept Therapeutics, Inc. (NASDAQ: CORT), Cassava Sciences, Inc. (NASDAQ: SAVA) and Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI). Our investigations focus on whether these companies have violated federal securities laws and/or engaged in other illegal business practices. Additional information on each case can be found at the link provided.

Carvana Co. (NYSE: CVNA)

On May 18, 2022, the Office of the Illinois Secretary of State announced that Carvana’s license to sell vehicles in Illinois had been suspended on May 10 due to misuse of vehicle licensing. temporary out-of-state registration and non-transfer of titles. The secretary of state’s office said vehicles that have already been purchased but not yet delivered can still be delivered to buyers during the suspension, but no new sales of vehicles can take place in Illinois during the suspension order. suspension.

On this news, Carvana’s stock price fell $6.55 per share, or 15.75%, to close at $35.05 per share on May 18, 2022.

For more information on the Carvana survey, visit: https://bespc.com/cases/CVNA

Corcept Therapeutics, Inc. (NASDAQ: CORT)

On December 8, 2021, Corcept disclosed in a filing with the United States Securities and Exchange Commission that “[o]On November 15, 2021, the Company received a subpoena from the United States Attorney’s Office for the District of New Jersey (the “NJ USAO”) pursuant to Section 248 of the Portability and Accountability Act of 1996. (HIPAA) requesting information regarding the sale and promotion of Korlym, Corcept’s relationships and payments with healthcare professionals who may prescribe or recommend Korlym, and prior authorization and reimbursement of Korlym. Corcept further revealed that “[t]The NJ USAO has notified Corcept that it is investigating whether any criminal or civil violations by Corcept have occurred in connection with the matters referenced in the subpoena.

On this news, Corcept’s stock price fell $3.71 per share, or 16.91%, to close at $18.23 per share on December 8, 2021.

For more information on the Corcept survey, visit: https://bespc.com/cases/CORT

Cassava Sciences, Inc. (NASDAQ: SAVA)

On April 18, 2022, The New York Times published an article entitled “Scientists Question Data Behind an Experimental Alzheimer’s Drug”. The article discussed Cassava’s experimental Alzheimer’s drug simufilam, and reported that one of Cassava’s advisors, Dr. HY Wang, had five articles from the scientific journal PLoS One removed after an in-depth investigation had revealed “serious concerns about the integrity and reliability of the results.

At this news, Cassava’s share price fell sharply during intraday trading on April 19, 2022.

For more information on the Cassava investigation, visit: https://bespc.com/cases/SAVA

Hannon Armstrong Sustainable Infrastructure Capital, Inc. (NYSE: HASI)

On July 12, 2022, market analyst Muddy Waters Research released a report titled “HASI: ‘ESG’ Is for Exaggerating, Scamming, and Grifting”, which alleged several issues with Hannon Armstrong’s financials, summarizing the alleged issues as “HASI misleadingly inflates GAAP to generate profits in three ways: 1) through a loophole in the arcana of accounting for renewable energy subsidies, HASI recognizes unrealizable non-cash revenue related to third-party tax credits that will be reversed; 2) HASI generates non-cash income by manipulating the discount rate it applies to residual assets to implausibly low levels, thereby inflating its gains on securitisations; and 3) HASI recognizes interest income from “paid-in-kind” (“PIK”) non-cash interest payments, which are essentially IOUs of distressed borrowers.

On this news, Hannon Armstrong’s stock price fell $6.92 per share, or 19%, to close at $29.41 per share on July 12, 2022, on unusually high trading volume, damaging to investors.

For more information on the Hannon Armstrong investigation, visit: https://bespc.com/cases/HASI

About Bragar Eagel & Squire, PC:

Bragar Eagel & Squire, PC 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, derivatives and other complex litigation before state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertisement. Prior results do not guarantee similar results.

Contact information:

Bragar Eagel & Squire, CP
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com

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