NEW YORK, Sept. 06, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against Pintec Technology Holdings Limited (PT), Cadence Bancorporation (CADE), Eldorado Resorts, Inc. (ERI), and Nordstrom, Inc. (JWN) on behalf of investors. Our investigation concerns 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.
Pintec Technology Holdings, Ltd. (PT)
In October 2018, Pintec completed its initial public offering (“IPO”) in which it sold more than 3.7 million American Depositary Shares (or “ADSs”) at $11.88 per share.
On April 30, 2019, the Company disclosed that it could not timely file its 2018 annual report, its first filing on Form 20-F since it went public. Since the IPO, Pintec’s ADSs have traded as low as $2.80 per share, significantly below the $11.88 offering price.
For more information on our investigation into Pintec go to: https://bespc.com/PT
Cadence Bancorporation (CADE)
On July 22, 2019, Cadence announced that the Company’s financial and operating results for the second quarter of 2019 were “negatively impacted by higher credit costs including net charge-offs of $18.6 million and loan provisions of $28.9 million,” which caused Cadence to miss second quarter earnings expectations. On this news, Cadence’s stock price fell $3.75 per share, or 19.12%, to close at $15.86 per share on July 22, 2019.
For more information on our investigation into Cadence go to: https://bespc.com/CADE
Eldorado Resorts, Inc. (ERI)
On September 2, 2019 Eldorado disclosed that Eldorado CEO Tom Reeg, COO and President Anthony Carano, Executive Chairman Gary Carano, and board member James Hawkins had all received subpoenas in May as part of an ongoing investigation into their trading of shares in an undisclosed company allegedly tied to Hawkins. On this news, shares of Eldorado dropped by 8% on the same day, to close at $35.42 per share.
For more information on our investigation into Eldorado Resorts go to https://bespc.com/ERI
Nordstrom, Inc. (JWN)
On November 15, 2018, the company announced disappointing sales results, weakening sales growth, and that credit card holders were charged incorrect interest amounts. On this news, Nordstrom’s share price fell by more than 13%, closing at $50.93 on November 16, 2018.
For more information on our investigation into Nordstrom go to https://bespc.com/jwn/.
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.