NEW YORK, NY / ACCESS Newswire / January 21, 2025 / Levi & Korsinsky notifies investors that it has commenced an investigation of Red Cat Holdings, Inc. ("Red Cat Holdings, Inc.") (NASDAQ:RCAT) concerning possible violations of federal securities laws.
Red Cat Holdings, Inc. is the subject of a report released by Kerrisdale Capital. Kerrisdale Capital claims that Red Cat Holdings has overstated the revenue potential of its U.S. Army Short Range Reconnaissance (SRR) drone contract and lacks the production capacity to deliver on its promises. Their report also raises concerns the timing of executives leaving Red Cat Holdings and insider transactions that took place shortly after the announcement of the SRR contract.
Following this news, shares of Red Cat Holdings, Inc. fell over 8% on January 16, 2025. To obtain additional information, go to:
https://zlk.com/pslra-1/red-cat-holdings-inc-lawsuit-submission-form?prid=124017&wire=1
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212)363-7500.
WHY LEVI & KORSINSKY: Over the past 20 years, Levi & Korsinsky LLP has established itself as a nationally-recognized securities litigation firm that has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. The firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report as one of the top securities litigation firms in the United States. Attorney Advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 17th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212)363-7500
Fax: (212)363-7171
https://zlk.com/
SOURCE: Levi & Korsinsky, LLP
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