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HomeMy WebLinkAboutReports - 2022.01.20 - 35178PORTFOLIO MONITORING REVIEW ______________________ January 2022 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 December 3,2021,to January 7,2022.Information contained in this report is based upon the November 30,2021 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. 2022 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation American Century Capital Portfolios, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. ON24, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Zillow Group, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Peloton Interactive, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Zhangmen Education Inc.: ADS No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. StoneCo Ltd.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Citrix Systems, Inc.Loss of $237,404 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 $90.41 per share during the 90-day look-back period following the end of the class period. Based on this market price, we estimate that OCERS will recognize a PSLRA loss of $237,404 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 that the chance of being awarded lead plaintiff status in this case is very unlikely. Therefore, no action is recommended. Playtika Holdings Corp.Loss of $63,777 OCERS held 9,406 shares at the end of the Class Period at an average cost of $25.69 per share; all shares were purchased during the Class Period. The average market price was $18.91 per share during the period following the end of the Class Period through January 7, 2022. Based on this market price, we estimate that OCERS will recognize a PSLRA loss of $63,777 on this stock. Based on the amount of this loss, we did not recommend that OCERS seek lead plaintiff status. 2022 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation Alfi, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Berkeley Lights, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Revance Therapeutics, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Paysafe Limited No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Organogenesis Holdings Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Cloopen Group Holdings Limited: ADS No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Exicure, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Sleep Number Corporation No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Robinhood Markets, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Redwire Corporation No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Marathon Digital Holdings, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. SharpSpring, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Reata Pharmaceuticals, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Desktop Metal, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. DocuSign, Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Chegg, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Arrival SA No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Faraday Future Intelligent Electric Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. KE Holdings,: ADS Unknown at this time.Will continue to monitor as portfolio data becomes available. Instadose Pharma Corp.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. 2022 Short Form Summary of PSLRA Filings PSLRA & Derivative lawsuits Impact Recommendation Meta Materials Inc.Unknown at this time.Will continue to monitor as portfolio data becomes available. Credit Suisse AG No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Bright Health Group, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Talkspace, Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended. Talis Biomedical Corporation Unknown at this time.Will continue to monitor as portfolio data becomes available. Goldman Sachs Group Inc.No PSLRA recognized losses.OCERS had no holdings during the relevant time period; therefore, no action was recommended.