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Red Cat Holdings, Inc. (NasdaqCM: RCAT) Loss Submission Form

Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the District of New Jersey on behalf of shareholders of Red Cat Holdings, Inc. who purchased shares between March 18, 2022 and January 15, 2025.

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 wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.

Shareholders have until July 22, 2025 to request that the court appoint them lead plaintiff.

If you would like to discuss your legal rights regarding this case, you may, without obligation or cost to you, contact us toll free at (833) 835-1495 or fill out the loss submission form on this page.

  • Loss Submission Form

    Kuznicki Law PLLC does not share your information with others. There is no other or obligation for you to submit.
  • Are you a current or former employee of Red Cat Holdings, Inc. ?
  • Your Loss
    Please describe the nature of your loss. Including the approximate number of shares you purchased and sold within the class period.
  • Are there any other details you would like to share with us?
  • This submission does not create an attorney-client relationship. If we believe that you might be an appropriate lead plaintiff, we will contact you to discuss whether to establish an attorney-client relationship.
  • This field is for validation purposes and should be left unchanged.

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