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NEW YORK, NY / ACCESSWIRE / November 14, 2020 / Pomerantz LLP is investigating claims on behalf of investors of Vasta Platform Limited ("Vasta" or the "Company") (NASDAQ:VSTA). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Vasta and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or about July 31, 2020, Vasta conducted its initial public offering ("IPO"), selling approximately 18.6 million shares of stock priced at $19.00 a share, raising nearly $353 million in new capital. Then, on August 20, 2020, Vasta announced the Company's financial results for the second quarter and the first half of 2020. Among other results, Vasta reported a second-quarter net loss of 54.9 million Reais and revenue of 120.23 million Reais, representing a revenue decline of 12.9% from the same period in the prior year.
On this news, Vasta's stock price fell $1.63 per share, or 8.81%, to close at $16.88 per share on August 21, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
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