Red Cat Holdings, Inc. USDC – New Jersey MAY 29, 2025 CLASS PERIOD: MARCH 18, 2022 – JANuary 15, 2025LEAD PLAINTIFF DEADLINE: juLY 22, 2025 Please complete the form below to contact Kaplan Fox regarding the Red Cat Holdings, Inc. Investigation: Join a Case First Name * Last Name * Email Address * Phone Number * Ticker Symbol Or Company Name * Please Insert Your Estimation Of Losses In USD * Are you a current or former employee of the company mentioned having traded above? * Yes No Captcha Submit If you are human, leave this field blank. Principle Contacts Jeffrey P. Campisi JCampisi@kaplanfox.comLaurence D. KingLKing@kaplanfox.com Kaplan Fox Alerts Investors to a Securities Class Action Against Red Cat Holdings, Inc. (RCAT) – Deadline is July 22, 2025 Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Red Cat Holdings, Inc. (“Red Cat” or the “Company”) (NASDAQ: RCAT) on behalf of investors that purchased or otherwise acquired Red Cat securities between March 18, 2022 and January 15, 2025, both dates inclusive (the “Class Period”). CLICK HERE TO JOIN THE CASE If you are an investor in Red Cat and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing jcampisi@kaplanfox.com or by calling (212) 329-8571. DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than July 22, 2025 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process. You need not seek to become a lead plaintiff in order to share in any possible recovery. According to the complaint, “Red Cat manufactures drones through its subsidiary Teal Drones, Inc. (‘Teal’) at a facility located in Salt Lake City, Utah (‘Salt Lake Facility’). Throughout 2022, Defendants touted their development of the Salt Lake Facility’s capacity to produce ‘thousands of drones per month’ or ‘tens of thousands of drones’ per year.” “In March 2022, Red Cat announced that Teal had been selected by the U.S. Department of Defense’s [] Defense Innovation Unit and the U.S. Army to compete in Tranche 2[] of the U.S. Army’s Short Range Reconnaissance Program of Record (‘SRR Program’) . . . Defendants suggested or otherwise asserted that the SRR Program’s Tranche 2 contract (‘SRR Contract’”) was worth potentially hundreds of millions to over a billion dollars in contract revenues.” “On November 19, 2024, Red Cat issued a press release announcing that it had won the SRR Contract. On a subsequent conference call . . . Defendants continued to assert that the SRR Contract was worth potentially hundreds of millions of dollars, while expressing their confidence that Red Cat could realize up to $50 million to $79.5 million in revenue from the SRR Contract during its fiscal year 2025 alone.” “Then, on January 16, 2025, Kerrisdale Capital (‘Kerrisdale’) published a report alleging, inter alia, that Defendants had overstated the value of the SRR Contract, which Kerrisdale found was only worth approximately $20 million to $25 million based on U.S. Army budget documents.” On this news, Red Cat’s stock 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. The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that (i) the Salt Lake City Facility’s production capacity, and Defendants’ progress in developing the same, was overstated; (ii) the overall value of the SRR Contract was overstated; and (iii) as a result, Defendants’ public statements were materially false and misleading at all relevant times. WHY CONTACT KAPLAN FOX Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. If you have any questions about this Notice, your rights, or your interests, please contact: CONTACT: Jeffrey P. CampisiKAPLAN FOX & KILSHEIMER LLP800 Third Avenue, 38th FloorNew York, New York 10022(212) 329-8571jcampisi@kaplanfox.com Laurence D. KingKAPLAN FOX & KILSHEIMER LLP1999 Harrison Street, Suite 1560Oakland, California 94612(415) 772-4704lking@kaplanfox.com The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kaplan Fox to retain you as a client. Any information you submit will be maintained as confidential. If Kaplan Fox, in its sole discretion, believes that you might be an appropriate client, Kaplan Fox will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases. Connect with Kaplan Fox. Receive a complimentary case review now. Contact Us Red Cat Holdings, Inc. See the Case Ibotta, Inc. See the Case Krispy Kreme, Inc. See the Case UroGen Pharma Ltd. See the Case Iovance Biotherapeutics, Inc. See the Case 1-800-Flowers.com See the Case Compass Diversified Holdings See the Case SelectQuote and GoHealth, Inc. See the Case Take-Two Interactive Software, Inc. See the Case Landstar System, Inc. See the Case ICU Medical, Inc. See the Case Ibotta, Inc. See the Case
