Security Investigation
Red Cat Holdings, Inc. (NasdaqCM: RCAT)
50 Days left to seek lead plaintiff status.
Contact a Lawyer Now
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 22, 2025 to file lead plaintiff applications in a securities class action lawsuit against Red Cat Holdings, Inc. (NasdaqCM: RCAT).
Red Cat and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On January 16, 2025, Kerrisdale Capital reported that the Company had overstated the value of its SRR Contract, which was only worth approximately $20 million to $25 million based on U.S. Army budget documents, and that the Company had been misleading investors about the production capacity of its Salt Lake City Facility for years, while also raising concerns about the timing of executive departures and insider transactions that took place shortly after Red Cat announced it had won the SRR Contract.
On this news, the price of Red Cat’s shares fell $2.35 per share, or 21.54%, over the following two trading sessions, to close at $8.56 per share on January 17, 2025.
If you purchased securities of Red Cat and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or fill out the form on this page.
The case is Olsen v. Red Cat Holdings, Inc., No. 25-cv-05427.