Days After Shareholder Derivative Action Alleges Insiders are Acquiring Stock at Artificially Depressed Prices, the Board of Directors of XpresSpa Group, Inc. (NASDAQ:XSPA) Authorizes Conversion of Senior Secured Debt at $2.00 per Share.
Jul 09, 2019
On June 30, 2019 two shareholders of XpresSpa Group, Inc. (XSPA) filed a derivative action against certain members of the Board of Directors and related parties. In the action, plaintiffs alleged that the defendants had used deceptive accounting and other means to drive down the price of the stock by over 95%.