NEW YORK, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Equity Lifestyle Properties, Inc. (NYSE: ELS), Adtalem Global Education, Inc. (NYSE: ATGE), and Silicon Laboratories Inc. (NASDAQ: SLAB). Our investigations concern 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.
Equity Lifestyle Properties, Inc. (NYSE: ELS)
On January 22, 2024, Equity disclosed in a filing with the U.S. Securities and Exchange Commission ("SEC") that, after initially concluding that an error in certain of the Company's previously issued financial statements, "which relates solely to the classification of cash outflows associated with the purchase of manufactured homes in the Consolidated Statements of Cash Flows," was immaterial, Equity's Audit Committee subsequently determined that the error was, in fact, material to the financial statements at issue. Accordingly, Equity advised investors that its annual report for 2022 and its quarterly report for the first quarter of 2023 should no longer be relied upon.
On this news, Equity's stock price fell sharply during intraday trading on January 23, 2024.
For more information on the Equity investigation go to: https://bespc.com/cases/ELS
Adtalem Global Education, Inc. (NYSE: ATGE)
On January 30, 2024, CNBC reported that Fahmi Quadir of Safkhet Capital had taken a short position in Adtalem Global Education shares, writing that the Company is “a toxic byproduct of an imperfect higher education system.” Quadir opined that the schools in Adtalem’s portfolio are pushing students into untenable debt loads and asserted “that Adtalem is completely uninvestable, the number of existential risks that exists today should cause alarm for any investor that’s looking into this company.”
On this news, Adtalem’s stock price fell $10.95 per share, or 18.68%, to close at $47.68 per share on January 30, 2024.
For more information on the Adtalem investigation go to: https://bespc.com/cases/ATGE
Silicon Laboratories Inc. (NASDAQ: SLAB)
On January 29, 2024, Silicon Labs issued a press release "announc[ing] a one-week delay to its scheduled earnings conference call for the quarter ended on December 30, 2023." Silicon Labs stated that it "has determined that a material weakness in internal control related to the operation and documentation of certain inventory controls existed as of December 30, 2023" and that "[t]he delay in reporting allows additional time to evaluate the impact, if any, of the material weakness on the company's financial reporting as of the end of the quarterly period."
On this news, Silicon Labs' stock price fell $7.91 per share, or 6.02%, to close at $123.55 per share on January 30, 2024.
For more information on the Silicon Lab investigation go to: https://bespc.com/cases/SLAB
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
