Bragar Eagel & Squire, P.C. Is Investigating Reata, DLocal, Comerica, and Advance Auto Parts and Encourages Investors to Contact the Firm

NEW YORK, June 19, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Reata Pharmaceuticals, Inc. (NASDAQ: RETA), DLocal Ltd. (NASDAQ: DLO), Comerica Incorporated (NYSE: CMA), and Advance Auto Parts, Inc. (NYSE: AAP). 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.

Reata Pharmaceuticals, Inc. (NASDAQ: RETA)

On May 10, 2023, Reata issued a press release announcing its financial results for the first quarter of 2023. Among other items, Reata announced its decision to discontinue studies for its kidney disease candidate bardoxolone, which the Company had previously advanced as one of its lead assets in partnership with Blackstone Life Sciences and Kyoma Kirin.

On this news, Reata's stock price fell $14.99 per share or 14.23%, to close at $90.38 per share on May 10, 2023.

For more information on the Reata investigation go to: https://bespc.com/cases/RETA

DLocal Ltd. (NASDAQ: DLO)

On November 16, 2022, Muddy Waters Capital LLC (“Muddy Waters”) published a research report concluding that DLocal “is likely a fraud.” Muddy Waters alleges that DLocal has repeated disclosures about its Total Processing Volume and accounts receivable “that flatly contradict one another” and that there is “a contradictory discrepancy between two key subsidiaries’ accounts payable and accounts receivable.” Muddy Waters also alleges that DLocal engaged in multiple misrepresentations to disguise the timing and the source of funding for an insider option exercise.

On this news, DLocal’s share price fell $10.76, or more than 50%, to close at $10.46 per share on November 16, 2022, thereby injuring investors.

Then, on December 1, 2022, Muddy Waters published another report stating that DLocal has held calls with clients from several banks, stressing that it had separated client funds from its own. The report also said that DLocal’s calls with clients were "non-specific" and "sweet-talking," and that "all [the Company] needed to do to address this issue was provide an explanation as to how the cash flows reconcile."

On this news, DLocal’s share price fell $2.21, or 15.1%, to close at $12.39 per share on December 1, 2022.

Then, on April 5, 2023, DLocal released its fourth quarter 2022 financial results, reporting diluted earnings per share of $0.06 on total revenue of $118 million, missing analyst estimates.

On this news, DLocal’s share price fell approximately 26% on April 5, 2023, thereby injuring investors further.

For more information on the DLocal investigation go to: https://bespc.com/cases/DLO

Comerica Incorporated (NYSE: CMA)

On May 29, 2023, citing a review of "internal documents," American Banker reported that "Comerica Bank officials privately acknowledged significant compliance failures in their operation of a Treasury Department program that provides federal benefits on prepaid cards to millions of unbanked Americans[.]" American Banker stated that "[a] Comerica executive said the Dallas bank faced a 'serious contract violation' for allowing fraud disputes and data on Direct Express and cardholders to be handled out of a vendor's office in Lahore, Pakistan[.]"

On this news, Comerica's stock fell $1.40 per share, or 3.59% to close at $37.59 per share on May 30, 2023.

For more information on the Comerica investigation go to: https://bespc.com/cases/CMA

Advance Auto Parts, Inc. (NYSE: AAP)

On May 31, 2023, Advance Auto Parts revealed disappointing results for the first quarter of fiscal year 2023, including a net sales decrease of more than 1.6% compared to the prior year and an operating margin rate of 2.6%, “well below expectations due to higher than planned investments to narrow competitive price gaps in the professional sales channel as well as unfavorable product mix.” Advance Auto Parts also disclosed that it was slashing its full year 2023 guidance, which it had provided just three months earlier, given that it now “expect[s] the competitive dynamics . . . faced in the first quarter to continue.” Advance Auto Parts further revealed that it was cutting its quarterly dividend by 84% “to provide enhanced financial flexibility.” 

Om this news, the price of Advance Auto Parts stock declined approximately 35%.

For more information on the Advance Auto Parts investigation go to: https://bespc.com/cases/AAP

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


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