HomeMy WebLinkAboutReports - 2021.12.16 - 35177PORTFOLIO
MONITORING REVIEW
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December 2021
Short Form Summary
OAKLAND COUNTY
EMPLOYEES’ R ETIREMENT SYSTEM
We identified the following companies which are subject to claims of fraud and/or misrepresentation during the period of
November 6,2021 to December 2,2021.Information contained in this report is based upon the October 31,2021 data,which is
the latest available from Northern Trust.We will continue to monitor these cases for any developments that could impact
OCERS,including settlements.
2021 Short Form Summary of PSLRA Filings
PSLRA & Derivative lawsuits Impact Recommendation
Bristol-Myers Squibb Company Loss of $5,187
OCERS held 2,070 shares at the end of the Class Period at an average cost
of $60.32 per share; all shares were purchased during the Class Period. The
average market price was $57.81 per share during the period following the end
of the Class Period through December 3, 2021. Based on this market price,
we estimate that OCERS will recognize a PSLRA loss of $5,187 on this stock.
Based on the amount of this loss, we did not recommend that OCERS seek
lead plaintiff status.
InnovAge Holding Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action
was recommended.
D-MARKET Electronic Services & Trading: ADS No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action
was recommended.
CONSOL Coal Resources, L. P. No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action
was recommended.
Facebook, Inc.No PSLRA recognized losses.
OCERS held 20,040 shares at the end of the Class Period at an average cost
of $107.81 per share, but made no purchases during the Class Period.
Therefore, there were no PSLRA losses and no action was recommended.
TMC the metals company Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action
was recommended.
Camber Energy, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action
was recommended.
ON24, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available.
American Century Capital Portfolios, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available.
Silverback Therapeutics, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action
was recommended.
Snap Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action
was recommended.
Novavax, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action
was recommended.
Zillow Group, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available.
2021 Short Form Summary of PSLRA Filings
PSLRA & Derivative lawsuits Impact Recommendation
Lightspeed Commerce Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action
was recommended.
Owlet, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action
was recommended.
Peloton Interactive, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available.
Ginkgo Bioworks Holdings, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action
was recommended.
Zhangmen Education Inc.: ADS Unknown at this time.Will continue to monitor as portfolio data becomes available.
Tenet Fintech Group Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action
was recommended.
StoneCo Ltd.Unknown at this time.Will continue to monitor as portfolio data becomes available.
Citrix Systems, Inc.Loss of $236,288
OCERS held 5,581 shares at the end of the Class Period at an average cost of
$129.75 per share; 6,951 shares were purchased and 1,370 shares were sold
during the Class Period. The average market price was $90.61 per share
during the period following the end of the Class Period through December 6,
2021. Based on this market price, we estimate that OCERS will recognize a
PSLRA loss of $236,288 on this stock. Based on the market capitalization of
this stock of approximately $10 billion and with approximately 125 million
shares outstanding, we expect that there are shareholders who recognized
much larger losses than OCERS, so the chance of being awarded lead plaintiff
status in this case is very unlikely. We will continue to monitor this stock. A
filing for lead plaintiff status must be made by January 18, 2022.
Playtika Holdings Corp.Unknown at this time.Will continue to monitor as portfolio data becomes available.
Alfi, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available.