NEW YORK, April 23, 2022 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Renalytix Plc (“Renalytix” or the “Company”) (NASDAQ: RNLX). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Renalytix and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around July 17, 2020, Renalytix conducted its initial public offering, issuing 11 million of its ordinary shares to the public at $13.50 per share. Then, on March 31, 2022, Renalytix announced its financial results for the second quarter of its fiscal year 2022. Among other results, the Company reported second quarter GAAP earnings per share of –$0.21, missing consensus estimates by $0.04, and revenue of $0.84 million, missing consensus estimates by $0.21 million. Renalytix also reported that during the three and six months ended December 31, 2021, the Company recorded a loss of $1.4 million and $2 million, respectively, to adjust its investment in a subsidiary, Verici Dx Limited, to fair value.
On this news, Renalytix’s ordinary share price fell $0.21 per share, or 2.95%, to close at $6.92 per share on March 31, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, 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, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz 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.pomlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP