Recent Updates


DNKEY Lawsuit Danske Bank Class Action

Class Action News

Danske Bank Investigation Commences

Levi & Korsinsky

July 19, 2018

Levi & Korsinsky announces it has commenced the Danske Bank investigation (OTCMKTS: DNKEY) concerning possible violations of federal securities laws. On December 21, 2017, it was reported that Danske Bank was fined 12.5 million Danish crowns for violating anti-money laundering rules. On July 18, 2018, Danske stated that it intends to waive income generated from suspicious transactions in Estonia. According to a press release, Danske plans to “make the gross income from such transactions available to the benefit of society, for instance through supporting efforts to combat financial crime.” Following this news, Danske Bank shares fell from a close of $15.24 on July 17, 2018, to a close of $13.81 the following day.

To obtain additional information, go tohttp://www.zlk.com/pslra-d/danske-bank or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.


DNKEY Lawsuit Danske Bank Class Action

Class Action Reports

MRCY Lawsuit Filed – Mercury Systems Class Action Litigation Report

Levi & Korsinsky, LLP

On July 10, investors sued Mercury Systems, Inc. (“Mercury,” “MRCY,” or the “Company”) in United States District Court, District of Massachusetts. Plaintiffs in the Mercury Systems Class Action Lawsuit allege that they acquired Mercury stock at artificially inflated prices between October 24, 2017 and April 24, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. For more information about the MRCY Lawsuit, please continue reading.

 

Summary of the Allegations

Company Background

The Company (NASDAQ: MRCY) is a “commercial provider of defense and intelligence, secure sensor and safety critical processing subsystems for defense prime contractors.”

Founded in 1981, the Company is based in Andover, Massachusetts and has offices/facilities throughout the United States. It also has a presence in Canada, Switzerland, the U.K., France, Spain and Japan. According to its website, Mercury also has more than 1,000 employees and generated more than $400 million in revenue in FY 2017.

Summary of Facts

Mercury and two of its current and former senior officers (the “Individual Defendants”) now stand accused of deceiving investors by lying and withholding critical information about the Company’s business practices and prospects during the Class Period.

Specifically, they are accused of omitting truthful information about certain business decisions and related issues from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Mercury stock to trade at artificially inflated prices during the time in question.

The truth came out in a press release issued by the Company on April 24, 2018. In it Mercury revealed a drastic change in t its free cash flow in the third quarter of FY 2018 compared to the same period for the prior fiscal year. It said in pertinent part: “Free cash flow, defined as cash flow from operating activities les capital expenditures, was a net outflow of $(2.6) million in the third quarter of fiscal 2018, compared to a net inflow of $11.9 million in the third quarter of fiscal 2017. The lower cash flow in the quarter was primarily a result of our continued investment in the business as we insource our manufacturing and integrate our acquisitions.”

A closer look…

As alleged in the July 10 complaint, the Company repeatedly made false and misleading public statements during the Class Period.

For example, in a press release issued at the beginning of the Class Period, Mercury said in relevant part: “We continued to deliver strong revenue growth and profitability both in our organic and acquired businesses, validating once again our ongoing strategy.”

On an ensuing conference call to discuss the Company’s financial and operating results for the first fiscal quarter ended on September 30, 2017, one of the Individual Defendants said in pertinent part: “In summary, Mercury’s on track for another great year in fiscal 2018. Our business model is working very well.”

On yet another conference call held to discuss Mercury’s financial and operating results for the second fiscal quarter and six month (period) ended December 31, 2017, one of the Individual Defendants said in pertinent part: “Even with the incremental investment in R&D, we expect to see improvement in our free cash flow for the year as we continue to grow and our CapEX is reduced versus fiscal ’17.”

Impact of the Alleged Fraud on Mercury’s Stock Price and Market Capitalization

Closing stock price prior to disclosures:

 

$42.93
Closing stock price the trading day after disclosures:

 

$34.91
One day stock price decrease (percentage) as a result of disclosures:

 

18.68%

The following chart illustrates the stock price during the class period:

 

Actions You May Take

If you have purchased shares during the Class Period, you may join the class action as a lead plaintiff, remain a passive class member, or opt out of this litigation and pursue individual claims that may not be available to the class as a whole.

NOTE: The deadline to file for lead plaintiff in this class action is September 10, 2018. You must file an application to be appointed lead plaintiff prior to this deadline in order to be considered by the Court. Typically, the plaintiff or plaintiffs with the largest losses are appointed lead plaintiff.

In order to identify your potential exposure to the alleged fraud during the time in question, you may wish to perform an analysis of your transactions in Mercury common stock using court approved loss calculation methods.

Recently Filed Cases

Listed below are recently filed securities class action cases being monitored by us, along with the class period and the deadline to file a motion to be appointed as the Lead Plaintiff in the action.  Please contact us if you would like an LK report for any of these cases:

MRCY Lawsuit Mercury Systems Class Action Lawsuit

About Us

This information is provided for general information purposes only, and should not be construed as legal advice, nor does it establish an attorney-client relationship with Levi & Korsinsky LLP.  Any and all information herein is simply an opinion based on publicly available information and should not necessarily be construed as fact.  For more information, please visit our website at www.zlk.com.

Attorney Advertising

 

Levi & Korsinsky is a leading securities litigation firm with a hard-earned reputation for protecting investors’ rights and recovering losses arising from fraud, mismanagement and corporate abuse.  With thirty attorneys and offices in New York, Connecticut, California and Washington D.C., the firm is able to litigate cases in various jurisdictions in the U.S., England, and in other international jurisdictions.

Levi & Korsinsky provides portfolio monitoring services for high-net worth investors and institutional clients.  Our firm also assists investors in evaluating whether to opt-out of large securities class actions to pursue individual claims.

For additional information about this case or our institutional services, please contact us.


GLCNF class action Glencore Lawsuit Levi & Korsinsky

Class Action Reports

GLCNF Lawsuit Filed, Securities Class Action Report

Levi & Korsinsky, LLP

On July 9, 2018, investors sued Glencore Plc (“Glencore,” “GLCNF,” or the “Company”) in United States District Court, District of New Jersey. Plaintiffs in the GLCNF Lawsuit allege that they acquired Glencore stock at artificially inflated prices between September 30, 2016 and July 2, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. For more about the Glencore Class Action Lawsuit, please see below.

 

Summary of the Allegations

Company Background

Glencore (OTC: GLCNF, GLNCY) produces, refines, processes, stores, transports and markets metals, minerals, energy products and agricultural products worldwide.

Founded as a trading company in the 1970s, Glencore says it now has approximately 150 mining and metallurgical sites, oil production assets and agricultural facilities – including mines in the Democratic Republic of Congo (DRC). The Company also says it employs more than 140,000 people in more than 50 countries.

Summary of Facts

Glencore and two of its senior executives (the “Individual Defendants”) are now accused of deceiving investors by lying and withholding critical information about the Company’s business practices and prospects during the Class Period.

Specifically, they are accused of omitting truthful information about certain conduct and the investigation thereof from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Glencore stock to trade at artificially inflated prices during the time in question.

The truth came out in a series of events occurring on May 18, 2018 and July 3, 2018. On May 8, Bloomberg reported that, “the U.K.’s Serious Fraud Office was preparing to open a formal bribery investigation into Glencore.”

Then, before the market opened on July 3, Glencore “disclosed that the U.S. Department of Justice issued its subsidiary a subpoena to produce documents and other records in connection with its compliance with U.S. money laundering statutes and the Foreign Corrupt Practices Act.”

A closer look…

As alleged in the July 9 complaint, the Company repeatedly made false and misleading public statements during the Class Period.

For instance, an article published by Bloomberg at the beginning of the Class Period quoted the Company as saying that it “takes ethics and compliance very seriously…”

Then on an annual report filed with the SEC on March 2, 2017, the Company said in pertinent part: “We are committed to complying with or exceeding the laws and external requirements applicable to our operations and products.”

Finally, in another annual report filed with the SEC on March 2, 2018, the Company said in pertinent part: “We seek to maintain a culture of ethical behavior and compliance throughout the Group, rather than simply performing the minimum required by laws and regulations. We will not knowingly assist any third party in breaching the law, or participate in any criminal, fraudulent or corrupt practice in any country.”

On the same form, Glencore referred to its bribery and corruption policy, saying in pertinent part: “Glencore’s Global Anti-Corruption Policy… contains our clear position on bribery and corruption: the offering, paying, authorizing, soliciting or accepting of bribes is unacceptable. We conduct analysis for corruption risks within our businesses and seek to address these risks through policies and procedures, training and awareness raising, monitoring and controls.”

Impact of the Alleged Fraud on Glencore’s Stock Price and Market Capitalization

Closing stock price prior to disclosures:

 

$9.17
Closing stock price the trading day after disclosures:

 

$8.31
One day stock price decrease (percentage) as a result of disclosures:

 

9.38%

The following chart illustrates the stock price during the class period:

 

Actions You May Take

If you have purchased shares during the Class Period, you may join the class action as a lead plaintiff, remain a passive class member, or opt out of this litigation and pursue individual claims that may not be available to the class as a whole.

NOTE: The deadline to file for lead plaintiff in this class action is September 7, 2018. You must file an application to be appointed lead plaintiff prior to this deadline in order to be considered by the Court. Typically, the plaintiff or plaintiffs with the largest losses are appointed lead plaintiff.

In order to identify your potential exposure to the alleged fraud during the time in question, you may wish to perform an analysis of your transactions in Glencore common stock using court-approved loss calculation methods.

Recently Filed Cases

Listed below are recently filed securities class action cases being monitored by us, along with the class period and the deadline to file a motion to be appointed as the Lead Plaintiff in the action.  Please contact us if you would like an LK report for any of these cases:

GLCNF Lawsuit Glencore Class Action Lawsuit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

About Us

This information is provided for general information purposes only, and should not be construed as legal advice, nor does it establish an attorney-client relationship with Levi & Korsinsky LLP.  Any and all information herein is simply an opinion based on publicly available information and should not necessarily be construed as fact.  For more information, please visit our website at www.zlk.com.

Attorney Advertising

 

Levi & Korsinsky is a leading securities litigation firm with a hard-earned reputation for protecting investors’ rights and recovering losses arising from fraud, mismanagement and corporate abuse.  With thirty attorneys and offices in New York, Connecticut, California and Washington D.C., the firm is able to litigate cases in various jurisdictions in the U.S., England, and in other international jurisdictions.

Levi & Korsinsky provides portfolio monitoring services for high-net worth investors and institutional clients.  Our firm also assists investors in evaluating whether to opt-out of large securities class actions to pursue individual claims.

For additional information about this case or our institutional services, please contact us.

 


DNKEY Lawsuit Danske Bank Class Action

Class Action News

Levi & Korsinsky Announces FIZZ Lawsuit, Class Action Commences

Levi & Korsinsky

July 18, 2018

NEW YORK, July 18, 2018 – Levi & Korsinsky, LLP announces a class action on behalf of all persons or entities who purchased or otherwise acquired securities of National Beverage Corp. (“National Beverage”) (NASDAQ: FIZZ) between July 17, 2014 and July 3, 2018. You are hereby notified that the FIZZ class action lawsuit has been commenced in the United States District Court for the Southern District of Florida. To get more information about the FIZZ lawsuit click here: http://www.zlk.com/pslra-d/fizz-lawsuit or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) National Beverage’s sales claims and its supposed “proprietary techniques” lacked a verifiable basis; (2) the Company’s Chairman and CEO engaged in a pattern of sexual misconduct between 2014 and 2016; and (3) as a result, National Beverage’s public statements were materially false and misleading at all relevant times.

On May 4, 2017, National Beverage issued a press release stating that it “employs methods that no other company does in this area—VPO (velocity per outlet) and VPC (velocity per capita).”  National Beverage asserted that it “utilize[s] two proprietary techniques to magnify these measures and this creates growth never before thought possible.” Then on June 26, 2018 the Wall Street Journal reported that National Beverage had declined to provide the U.S. Securities and Exchange Commission with requested sales figures to clarify their sales claims. Then on July 3, 2018, the Wall Street Journal published an article reporting that two pilots had filed lawsuits alleging that National Beverage’s CEO had sexually harassed them.

If you suffered a loss in National Beverage you have until September 17, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 


Class Action News

Levi & Korsinsky Announces FPI Lawsuit, Class Action Commences

Levi & Korsinsky

July 17, 2018

NEW YORK, July 17, 2018 – Levi & Korsinsky, LLP announces a class action on behalf of all persons or entities who purchased or otherwise acquired securities of Farmland Partners Inc. (“Farmland”) (NYSE: FPI) between May 9, 2017 and July 10, 2018. You are hereby notified that the Farmland Partners lawsuit has been commenced in the United States District Court for the District of Colorado. To get more information about the FPI lawsuit click here: http://www.zlk.com/pslra-d/farmland-partners-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The FPI class action complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Farmland artificially increased its revenues by marking loans to related party tenants; (ii) as a results of the foregoing, Farmland’s Class Period revenues were overstated; and (iii) as a result, Farmland’s public statements were materially false and misleading at all relevant times. On July 11, 2018, Seeking Alpha featured a report alleging that 310% of Farmland’s 2017 earnings could be fabricated. Following this news, shares of Farmland fell from a close of $8.65 on July 10, 2018, to a close of $5.28 the following day.

If you suffered a loss in Farmland you have until September 10, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


Merger News

GulfMark Offshore Merger Investigation

Levi & Korsinsky

July 16, 2018

Levi & Korsinsky, LLP announces an investigation concerning the sale of GulfMark Offshore, Inc. (“GulfMark Offshore” or the “Company”) (NYSE American: GLF). Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of GulfMark Offshore to Tidewater, Inc. (NYSE: TDW). Under the terms of the transaction, GulfMark shareholders will receive 1.100 shares of Tidewater common stock for each share of GulfMark stock they own, representing approximately $33.68 per share. To learn more about the GulfMark Offshore merger and your rights, go tohttp://www.zlk.com/mna/gulfmark-offshore-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The GulfMark merger investigation concerns whether the Board of GulfMark breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Tidewater is underpaying for GulfMark shares, thus unlawfully harming GulfMark shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


Class Action News

FPI Class Action Investigation Commences

Levi & Korsinsky Staff

July 12, 2018

Levi & Korsinsky announces it has commenced an investigation of Farmland Partners Inc. (“Farmland” or “the Company”) (NYSE: FPI) concerning possible violations of federal securities laws. On July 11, 2018, Rota Fortunae published a report alleging that Farmland artificially increased revenues “by making loans to related-party tenants who round-trip the cash back to FPI as rent” and that “30% of [Farmland’s] 2017 earnings could be made-up.” The report further stated that Farmland “neglected to disclose that the majority of its loans have been made to two members of the management team.” On this news, shares of Farmland fell from a close of $8.65 on July 10, 2018 to a close of $5.28 on July 11, 2018. To obtain additional information on the Farmland class action investigation (FPI class action investigation), go tohttp://www.zlk.com/pslra-d/farmland-partners-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


DNKEY Lawsuit Danske Bank Class Action

Class Action News

MRCY Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired common stock of Mercury Systems, Inc. (NASDAQGS: MRCY) between October 24, 2017 and April 24, 2018. You are hereby notified that Levi & Korsinsky has commenced the class action Richmond v. Mercury Systems, Inc. (Case No. 1:18-cv-11434) in the USDC for the District of Massachusetts. To get more information on the Mercury class action (MRCY class action) go tohttp://www.zlk.com/pslra-d/mercury-systems or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that (i) Mercury’s decision to in-source processing was adversely impacting Mercury’s operating margins and free cash-flow generation and conversion; (ii) Mercury’s model was becoming structurally more working capital intensive; (iii) as a result of the foregoing, Mercury’s public statements were materially false and misleading at all relevant times.

 

Specifically, during a December 31, 2017 conference call, Mercury’s CFO stated that the Company expected improvement in its free cash flow for the year. Then on April 24, 2018, Mercury issued a press release noting that its “Free cash flow… was a net outflow of $(2.6) million in the third quarter of fiscal 2018, compared to a net inflow of $11.9 million in the third quarter of fiscal 2017.”

 

If you suffered a loss in Mercury you have until September 10, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

 


MD class action Levi & Korsinsky

Class Action News

MD Class Action Deadline Approaches

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of MEDNAX, Inc. (“Mednax”) (NYSE: MD) between February 4, 2016 and July 27, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of Florida. To get more information on the Mednax class action (MD class action) go to: http://www.zlk.com/pslra-d/mednax-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s business model was not sustainable; and (2) Mednax’s growth was in fact based upon suppressing physician compensation and enforcing non-compete agreements to deter physician defections. On April 20, 2017, Mednax announced negative financial results for the first quarter of 2017. Then on July 28, 2017, during an earnings call, Mednax announced that the Company failed to complete any acquisitions of anesthesiologist practices during the second quarter and disclosed that any future acquisitions were unlikely. Following this news, shares of Mednax fell from a close of $56.49 on July 27, 2017, to a close of $47.73 per share the following day.

 

If you suffered a loss in Mednax you have until September 10, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


GLCNF class action Glencore Lawsuit Levi & Korsinsky

Class Action News

GLCNF Class Action Deadline Approaches

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Glencore plc (“Glencore”) (OTCMKTS: GLCNF, GLNCY) between September 30, 2016 and July 2, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the District of New Jersey. To get more information on the Glencore class action (GLCNF class action) go to: http://www.zlk.com/pslra-d/glencore or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Glencore’s conduct would subject it to heightened scrutiny by U.S. and foreign government bodies resulting in investigations into the company’s compliance with money laundering and bribery laws, as well as the Foreign Corrupt Practices Act; and (2) as a result, defendants’ statements about Glencore’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages. On May 18, 2018, Bloomberg reported that the U.K.’s Serious Fraud Office was preparing to open a formal bribery investigation into Glencore. Then on July 3, 2018, Glencore disclosed that the U.S. Department of Justice issued its subsidiary a subpoena to produce documents and other records in connection with its compliance with U.S. money laundering statutes and the Foreign Corrupt Practices Act.

 

If you suffered a loss in Glencore you have until September 7, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


SBGL class action Levi & Korsinsky

Class Action News

SBGL Class Action Deadline Approaches

Levi & Korsinsky Staff

July 10, 2018

To: All persons or entities who purchased or otherwise acquired securities of Sibanye Gold Limited (“Sibanye”) (NYSE: SBGL) between April 7, 2017 and June 26, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Eastern District of New York. To get more information on the Sibanye class action (SBGL class action) go to: http://www.zlk.com/pslra-d/sibanye-gold-limited or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Sibanye’s safety protocols were inadequate to prevent a high rate of worker death; (ii) Sibanye’s mining supervisors routinely forced Company employees to work in unsafe and unlawful conditions; (iii) the foregoing issues would foreseeably subject Sibanye to heightened regulatory oversight; and (iv) as a result, Sibanye’s public statements were materially false and misleading at all relevant times.

 

If you suffered a loss in Sibanye you have until August 27, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


ACAD class action investigation Levi & Korsinsky

Class Action News

ACAD Class Action Investigation Commences

Levi & Korsinsky Staff

July 9, 2018

Levi & Korsinsky announces it has commenced an investigation of ACADIA Pharmaceuticals Inc. (“ACADIA” or “the Company”) (NASDAQGS: ACAD) concerning possible violations of federal securities laws. On April 9, 2018, ACADIA stock fell after CNN issued a report stating that “Physicians, medical researchers and other experts told CNN that they worried that the drug [NUPLAZID] had been approved too quickly, based on too little evidence that it was safe or effective.” On April 10, 2018, the Food and Drug Administration stated it would continue to monitor reports of adverse events. Then on July 9, 2018, a report was published by The Southern Investigative Reporting Foundation alleging that ACADIA’s “pursuit of regulatory approval is best described as ‘loophole-centric’.” To obtain additional information on the ACADIA class action investigation (ACAD class action investigation), go tohttp://www.zlk.com/pslra-d/acadia-investigation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


RSYS merger Levi & Korsinsky

Merger News

RSYS Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased Radisys Corporation (“Radisys” or the “Company”) (NASDAQGS: RSYS) stock prior to June 29, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Radisys merger. Radisys will be sold to Reliance Industries Limited for US$1.72 per share. To learn more about the RSYS merger and your rights, go to: http://www.zlk.com/mna/radisys-corporation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The Radisys merger investigation concerns whether the Board of Radisys breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Reliance Industries Limited is underpaying for Radisys shares, thus unlawfully harming Radisys shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


QCP merger Levi & Korsinsky

Merger News

QCP Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased Quality Care Properties, Inc. (“Quality Care” or the “Company”) (NYSE: QCP) stock prior to April 25, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Quality Care merger. Quality Care will be sold to affiliates of Welltower, Inc. (NYSE: WELL). Under the terms of the transaction, Quality Care shareholders will receive $20.75 in cash for each share of Quality Care stock they own. To learn more about the action and your rights, go tohttp://www.zlk.com/mna/quality-care-properties-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of Quality Care Properties, Inc. breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Welltower, Inc. is underpaying for Quality Care Properties, Inc. shares, thus unlawfully harming Quality Care Properties, Inc. shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


JNP merger Levi & Korsinsky

Merger News

JNP Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased Juniper Pharmaceuticals, Inc. (“Juniper” or the “Company”) (NASDAQGS: JNP) stock prior to July 3, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Juniper merger. Juniper will be sold to Catalent Inc. (NYSE: CTLT) (“Catalent”). Under the terms of the transaction, Juniper shareholders will receive $11.50 for each share of Juniper common stock that they own. To learn more about the JNP merger and your rights, go tohttp://www.zlk.com/mna/juniper-pharmaceuticals-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of Juniper Pharmaceuticals, Inc. breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Catalent is underpaying for Juniper shares, thus unlawfully harming Juniper shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


XRM merger Levi & Korsinsky

Merger News

XRM Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased Xerium Technologies, Inc.  (“Xerium” or the “Company”) (NYSE: XRM) stock prior to June 25, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Xerium merger. Xerium will be sold to Andritz AG. Under the terms of the transaction, Xerium shareholders will receive $13.50 for each share of Xerium common stock that they own. To learn more about the action and your rights, go tohttp://www.zlk.com/mna/xerium-technologies-inc-xrm-information-request-form or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of Xerium breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Andritz AG is underpaying for Xerium shares, thus unlawfully harming Xerium shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


KERX merger Levi & Korsinsky

Merger News

KERX Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased Keryx Biopharmaceuticals, Inc. (“Keryx” or the “Company”) (NASDAQCM: KERX) stock prior to June 28, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Keryx merger. Keryx will be sold to Akebia Therapeutics, Inc. (“Akebia”) (NASDAQ GM: AKBA) Under the terms of the transaction, Keryx shareholders will receive 0.37433 common shares of Akebia for each share of Keryx they own. To learn more about the KERX merger and your rights, go to: http://www.zlk.com/mna/keryx-biopharmaceuticals-inc-2 or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of Keryx breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Akebia is underpaying for Keryx shares, thus unlawfully harming Keryx shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


SBGL Class Action Levi & Korsinsky

Class Action Reports

SBGL Class Action Report

Levi & Korsinsky Staff

July 6, 2018

On June 27, 2018, investors sued Sibanye Gold Limited (“Sibanye” or the “Company”) in United States District Court, Eastern District of New York. Plaintiffs in the federal securities class action allege that they acquired Sibanye’s American Depository Receipts (ADRs) at artificially inflated prices between April 7, 2017 and June 26, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Sibanye class action (SBGL class action):

 

Summary of the Allegations

Company Background

Sibanye (NYSE: SBGL) engages in the mining of precious metals in South Africa, Zimbabwe and the United States.

Its history dates to February 2013, when GFI Mining South Africa listed as Sibanye on the Johannesburg Stock Exchange. The Company’s ADRs have also been listed on the New York Stock Exchange since that time.

Sibanye is incorporated in the Republic of South Africa, where it also maintains its primary executive offices.

Summary of Facts

Sibanye and two of its senior officers now stand accused of deceiving investors by lying and withholding critical information about the Company’s business practices during the Class Period.

Specifically, they are accused of omitting truthful information about mining safety from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Sibanye’s ADRs to trade at artificially inflated prices during the time in question.

The truth came out in a series of articles published between June 13, 2018 and June 27, 2018. The first article, published by Mercury, stated that, “Company supervisors forced and intimidated miners to work in dangerous conditions.”

Then, an article published by Bloomberg before the market opened on June 26, reported that, “another worker was killed at [Sibanye’s] Driefontein operation in South Africa, brining the total deaths at the company’s mines this year to 21.” The article also stated that Sibanye “accounts for nearly half of the 46 people reported killed at South African mines in 2018 and is already the subject of an investigation by the chief inspector of mines.”

Another article published by Bloomberg before the market opened the next day reported that “Citigroup Inc. cut their recommendation on the stock to neutral from buy, citing the Company’s ‘track record’ from both an ‘environmental, social and governance perspective, as well as the underlying investment risk that it holds.’”

A closer look…

As alleged in the June 27 complaint, the Company repeatedly made misleading public statements during the Class Period.

For example, on a form filed with the SEC at the beginning of the Class Period, the Company said in pertinent part: “Our employees are our most important asset. In order to keep our workforce safe and healthy, we focus on compliance and systematically reducing employees’ exposure to risk.”

Then, on another form filed with the SEC on April 2, 2018, the Company reaffirmed its commitment to safety, saying in relevant part: “Safety is our principal value and we continue to focus significant effort and attention as well as resources on ensuring that our employees are able to work in a safe and conducive environment.”

Impact of the Alleged Fraud on Sibanye’s ADR Price and Market Capitalization

Closing stock price prior to disclosures:

 

$2.82
Closing stock price the trading day after disclosures:

 

$2.51
One day stock price decrease (percentage) as a result of disclosures:

 

10.99%

The following chart illustrates the stock price during the class period:

 

Actions You May Take

If you have purchased shares during the Class Period, you may join the class action as a lead plaintiff, remain a passive class member, or opt out of this litigation and pursue individual claims that may not be available to the class as a whole.

NOTE: The deadline to file for lead plaintiff in this class action is August 27, 2018. You must file an application to be appointed lead plaintiff prior to this deadline in order to be considered by the Court. Typically, the plaintiff or plaintiffs with the largest losses are appointed lead plaintiff.

In order to identify your potential exposure to the alleged fraud during the time in question, you may wish to perform an analysis of your transactions in Sibanye’s ADRs using court approved loss calculation methods.

 

 

 

 

 

Recently Filed Cases

Listed below are recently filed securities class action cases being monitored by us, along with the class period and the deadline to file a motion to be appointed as the Lead Plaintiff in the action.  Please contact us if you would like an LK report for any of these cases:

 

SBGL Class Action Tracker

 

About Us

This information is provided for general information purposes only, and should not be construed as legal advice, nor does it establish an attorney-client relationship with Levi & Korsinsky LLP.  Any and all information herein is simply an opinion based on publicly available information and should not necessarily be construed as fact.  For more information, please visit our website at www.zlk.com.

Attorney Advertising

 

Levi & Korsinsky is a leading securities litigation firm with a hard-earned reputation for protecting investors’ rights and recovering losses arising from fraud, mismanagement and corporate abuse.  With thirty attorneys and offices in New York, Connecticut, California and Washington D.C., the firm is able to litigate cases in various jurisdictions in the U.S., England, and in other international jurisdictions.

Levi & Korsinsky provides portfolio monitoring services for high-net worth investors and institutional clients.  Our firm also assists investors in evaluating whether to opt-out of large securities class actions to pursue individual claims.

For additional information about this case or our institutional services, please contact us.


FLKS class action Levi & Korsinsky

Class Action Reports

FLKS Class Action Report

Levi & Korsinsky Staff

July 2, 2018

On June 19, investors sued Flex Pharma, Inc. (“Flex Pharma” or the “Company”) in United States District Court, Southern District of New York. Plaintiffs in the federal securities class action allege that they acquired Flex Pharma stock at artificially inflated prices between November 6, 2017, and June 12, 2018. They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s what you need to know about the Flex class action (FLKS class action):

 

Summary of the Allegations

Company Background

Flex Pharma (NASDAQ; FLKS) is clinical-stage biotechnology company. As such, it develops “innovative and proprietary treatments for cramps and spasticity.”

Specifically, the Company creates medicines that can be used to treat ailments ranging from nighttime leg cramps to “cervical dystonia, spinal cord spasticity and multiple sclerosis.”

The Company’s claims about its lead product candidate, FLX-787, which was evaluated as a potential treatment for amyotrophic lateral sclerosis (“ALS”) and Charcot-Marie-Tooth disease (“CMT”), are at the crux of the current lawsuit.

Summary of Facts

Flex Pharma and two of its senior officers and/or directors (the “Individual Defendants”) now stand accused of deceiving investors by lying and withholding critical information about the Company’s business, operational and compliance policies during the Class Period.

Specifically, they are accused of omitting truthful information about its lead product candidate from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Flex Pharma stock to trade at artificially inflated prices during the time in question.

The truth came out when Flex Pharma issued a press release on June 13, 2018. In it, the Company announced that it would end “its ongoing Phase 2 clinical trial investigations of FLX-787 in amyotrophic lateral sclerosis (ALS) and Charcot-Marie-Tooth disease (CMT) due to oral tolerability concerns in both studies.”

A closer look…

As alleged in the June 19 complaint, Flex Pharma repeatedly made misleading public statements during the Class Period.

For example, on a form filed with the SEC at the beginning of the Class Period, the Company said in pertinent part: “Our development programs are steadily advancing. We have initiated our Phase 2b ALS trial under Fast Track designation, and more recently, our Phase 2b CMT trial. These two studies, as well as the ongoing exploratory spasticity study in MS in Australia are expected to yield several important data readouts in 2018.”

On another form filed with the SEC on March 7, 2018, Flex Pharma stated in pertinent part: “The next 12 months will be transformational for Flex as we expect to report results from a number of larger clinical trials – first an exploratory spasticity study in MS, followed by two Phase 2 studies in ALS and a Charcot-Marie-Tooth patients, with our current cash position taking us to mid 2019.”

Finally, on another form filed with the SEC on May 2, 2018, the Company said on pertinent part: “The past few months have been particularly rewarding on the clinical front, as we achieved significant milestones with positive data in two serious and distinctly different neurological diseases: MS and ALS. We believe these data demonstrate the clear potential of FLX-787 to reduce painful crams and spasms in these patient populations.”

Impact of the Alleged Fraud on Flex Pharma’s Stock Price and Market Capitalization

Closing stock price prior to disclosures:

 

$4.18
Closing stock price the trading day after disclosures:

 

$1.04
One day stock price decrease (percentage) as a result of disclosures:

 

75.12%

The following chart illustrates the stock price during the class period:

 

Actions You May Take

If you have purchased shares during the Class Period, you may join the class action as a lead plaintiff, remain a passive class member, or opt out of this litigation and pursue individual claims that may not be available to the class as a whole.

NOTE: The deadline to file for lead plaintiff in this class action is August 20, 2018. You must file an application to be appointed lead plaintiff prior to this deadline in order to be considered by the Court. Typically, the plaintiff or plaintiffs with the largest losses are appointed lead plaintiff.

In order to identify your potential exposure to the alleged fraud during the time in question, you may wish to perform an analysis of your transactions in Flex Pharma common stock using court approved loss calculation methods.

 

 

 

 

 

Recently Filed Cases

Listed below are recently filed securities class action cases being monitored by us, along with the class period and the deadline to file a motion to be appointed as the Lead Plaintiff in the action.  Please contact us if you would like an LK report for any of these cases:

 

Class Action Tracker

 

About Us

This information is provided for general information purposes only, and should not be construed as legal advice, nor does it establish an attorney-client relationship with Levi & Korsinsky LLP.  Any and all information herein is simply an opinion based on publicly available information and should not necessarily be construed as fact.  For more information, please visit our website at www.zlk.com.

Attorney Advertising

 

Levi & Korsinsky is a leading securities litigation firm with a hard-earned reputation for protecting investors’ rights and recovering losses arising from fraud, mismanagement and corporate abuse.  With thirty attorneys and offices in New York, Connecticut, California and Washington D.C., the firm is able to litigate cases in various jurisdictions in the U.S., England, and in other international jurisdictions.

Levi & Korsinsky provides portfolio monitoring services for high-net worth investors and institutional clients.  Our firm also assists investors in evaluating whether to opt-out of large securities class actions to pursue individual claims.

For additional information about this case or our institutional services, please contact us.


AKERS class action Levi & Korsinsky

Class Action Reports

AKERS Class Action Report

Levi & Korsinsky Staff

On June 13, 2018, investors sued Akers Biosciences, Inc., (“Akers” or the “Company”) in United States District Court, District of New Jersey. Plaintiffs in the federal securities class action allege that they acquired Akers stock at artificially inflated prices between May 15, 2017 and June 5, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s what you need to know about the Akers class action:

 

Summary of the Allegations

Company Background

Along with its subsidiaries, Akers (NASDAQ: AKERS) creates, makes and distributes “rapid screening and testing products” for delivery of healthcare information to healthcare providers and consumers.

Based in New Jersey, the Company has been in business since 1989. According to its website, Akers’ initial goal was to create “proprietary, in vitro diagnostic technologies that accelerate the rate at which clinicians, and in some cases consumers, can obtain health information.” It is now “dedicated to the development of time- and cost-efficient, single-use devices that can be utilized almost anytime, anywhere.”

Today the Company has customers both at home and also abroad.

Summary of Facts

Akers and two of its senior executives (the “Individual Defendants”) are now accused of deceiving investors by lying and withholding critical information about the Company’s business practices during the Class Period.

Specifically, they are accused of omitting truthful information about the recognition of certain revenue and the extent of the weakness in certain internal controls in SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Akers stock to trade at artificially inflated prices during the time in question.

The truth emerged in a series of events that transpired between May 21, 2018 and June 5, 2018. The Company first informed the SEC something was amiss when it filed a form stating that it would be unable to meet the deadline for filing a quarterly report. It attributed its inability to do to findings made during an ongoing review of the “characterization of certain revenue recognition items.”

Then, before the market opened on May 29, the Company issued a press release announcing that, “Raymond F. Akers Jr., Ph.D. has resigned as a director of the Company with immediate effect.”

On June 1, the Company filed another form with the SEC in which it alleged that, “Raymond Akers ‘has not been fully cooperative’ with its review of certain revenue recognition items for prior quarters.”

Finally, on June 5, the Company filed another form with the SEC, which was accompanied by a letter written on Raymond Akers’ behalf. The letter refuted the allegation characterized him as a “whistleblower” and credited him with demanding the investigation regarding revenue recognition.

History Repeating Itself

As alleged in the June 13 complaint, Akers repeatedly made misleading public statements during the Class Period.

For example, on a form Filed with the SEC at the beginning of the Class Period, the Company stated in pertinent part: “There were no changes in our internal control over financial reporting … during our most recently completed fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.”

On another form filed with the SEC on April 3, 2018, the Company stated that it would be unable to meet the deadline for filing its Annual Report for the period ended December 31, 2017. It also explained that it would be unable to do so because it needed “additional time to gather information and finalize its financial statements.”

Nevertheless, the Company filed its Annual Report that day. In it, Akers said that it “identified a material weakness in our controls related to segregation of duties and other immaterial weaknesses in several areas of data management and documentation.” In the Annual Report, the Company also indicated that, “there were no changes in internal control over financial reporting that materially affected or were reasonably likely to materially affect the Company’s internal control over financial reporting.”

Impact of the Alleged Fraud on Akers’ Stock Price and Market Capitalization

Closing stock price prior to disclosures:

 

$0.49
Closing stock price the trading day after disclosures:

 

$0.46
One day stock price decrease (percentage) as a result of disclosures:

 

6%

The following chart illustrates the stock price during the class period:

 

Actions You May Take

If you have purchased shares during the Class Period, you may join the class action as a lead plaintiff, remain a passive class member, or opt out of this litigation and pursue individual claims that may not be available to the class as a whole.

NOTE: The deadline to file for lead plaintiff in this class action is August 13, 2018. You must file an application to be appointed lead plaintiff prior to this deadline in order to be considered by the Court. Typically, the plaintiff or plaintiffs with the largest losses are appointed lead plaintiff.

In order to identify your potential exposure to the alleged fraud during the time in question, you may wish to perform an analysis of your transactions in Akers common stock using court approved loss calculation methods.

Recently Filed Cases

Listed below are recently filed securities class action cases being monitored by us, along with the class period and the deadline to file a motion to be appointed as the Lead Plaintiff in the action.  Please contact us if you would like an LK report for any of these cases:

 

Class Action Tracker

About Us

This information is provided for general information purposes only, and should not be construed as legal advice, nor does it establish an attorney-client relationship with Levi & Korsinsky LLP.  Any and all information herein is simply an opinion based on publicly available information and should not necessarily be construed as fact.  For more information, please visit our website at www.zlk.com.

Attorney Advertising

 

Levi & Korsinsky is a leading securities litigation firm with a hard-earned reputation for protecting investors’ rights and recovering losses arising from fraud, mismanagement and corporate abuse.  With thirty attorneys and offices in New York, Connecticut, California and Washington D.C., the firm is able to litigate cases in various jurisdictions in the U.S., England, and in other international jurisdictions.

Levi & Korsinsky provides portfolio monitoring services for high-net worth investors and institutional clients.  Our firm also assists investors in evaluating whether to opt-out of large securities class actions to pursue individual claims.

For additional information about this case or our institutional services, please contact us.


PCG class action Levi & Korsinsky

Class Action Reports

PCG Class Action Report

Levi & Korsinsky Staff

On June 12, 2018, investors sued PG&E Corporation (“PG&E” or the “Company”) in United States District Court For The Northern District of California. Plaintiffs in the federal securities class action allege that they acquired PG&E stock at artificially inflated prices between April 29, 2015 and June 8, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s what you need to know about the PG&E class action (PCG class action):

 

Summary of the Allegations

Company Background

Based in California, the Company (NYSE: PCG) carries out the bulk of its operations through its wholly owned subsidiary, Pacific Gas and Electric Company (“Pacific Gas Electric” or the “Utility”).

Incorporated in 1905, Pacific Gas Electric now has 20,000 employees and millions of customers in a 70,000-square-mile service area in northern and central California. According to PG&E’s website, the Utility distributes energy through 106,681 circuit miles of electric distribution lines, 18,466 circuit miles of interconnected transmission lines, 42,141 miles of natural gas distribution pipelines and 6,438 miles of transportation pipelines.

Summary of Facts

PG&E and six of its current and former senior executives (the “Individual Defendants”) are now accused of lying and withholding critical information about the Company’s business practices during the Class Period.

Specifically, they are accused of omitting truthful information about its compliance with safety requirements and state regulations, and the role of its electricity networks in numerous wildfires, from SEC filings and related materials. By knowingly or recklessly doing so, they allegedly caused PG&E stock to trade at artificially inflated prices during the time in question.

The truth emerged in a series of events that transpired between October 8, 2017 (when the wildfires started) and June 8, 2018.

Three days after the California wildfires started, the media reported that state authorities/officials were “looking at” whether the Company’s power lines sparked any of the wildfires that decimated more than 245,000 acres in eight counties. On that same day (October 11, 2017), the Company filed a form with the SEC in which it said that it was “currently unknown whether the Utility would have any liability associated with these fires.”

Then, on December 20, 2017, the Company issued a press release, which it also filed with the SEC, in which it announced the suspension of its cash dividend. It also explained that it based its decision on uncertainty “related to causes and potential liabilities associated with the extraordinary October 2017 Northern California wildfires.”

Finally, on May 25, 2018 and June 8, 2018, CAL FIRE investigators issued two separate press releases in which they said that trees parts of trees coming into contact with PG&E power lines sparked 16 of the Northern California wildfires.

 

A closer look…

As alleged in the June 12 complaint, PG&E repeatedly made misleading public statements throughout the Class Period.

For example, during a conference call held at the beginning of the Class Period to discuss the Company’s first fiscal quarter ended March 31, 2015, one of the Individual Defendants “assured investors of the Company’s commitment to ‘step up vegetation management activities to mitigate wildfire risk.’”

Then, on a form filed with the SEC on February 18, 2016, the Company said in pertinent part: “Throughout 2015, the Utility upgraded several critical substations and re-conducted a number of transmission lines to improve maintenance and system flexibility, reliability and safety.”

On the same form, the Company added that: “The Utility plans to continue performing work to improve the reliability and safety of its electricity and distribution operations in 2016.”

Impact of the Alleged Fraud on PG&E’s Stock Price and Market Capitalization

Closing stock price prior to disclosures:

 

$41.45
Closing stock price the trading day after disclosures:

 

$39.76
One day stock price decrease (percentage) as a result of disclosures:

 

4.08%

The following chart illustrates the stock price during the class period:

 

Actions You May Take

If you have purchased shares during the Class Period, you may join the class action as a lead plaintiff, remain a passive class member, or opt out of this litigation and pursue individual claims that may not be available to the class as a whole.

NOTE: The deadline to file for lead plaintiff in this class action is August 13, 2018. You must file an application to be appointed lead plaintiff prior to this deadline in order to be considered by the Court. Typically, the plaintiff or plaintiffs with the largest losses are appointed lead plaintiff.

In order to identify your potential exposure to the alleged fraud during the time in question, you may wish to perform an analysis of your transactions in PG&E common stock using court approved loss calculation methods.

Recently Filed Cases

Listed below are recently filed securities class action cases being monitored by us, along with the class period and the deadline to file a motion to be appointed as the Lead Plaintiff in the action.  Please contact us if you would like an LK report for any of these cases:


 

Class Action Tracker 

 

About Us

This information is provided for general information purposes only, and should not be construed as legal advice, nor does it establish an attorney-client relationship with Levi & Korsinsky LLP.  Any and all information herein is simply an opinion based on publicly available information and should not necessarily be construed as fact.  For more information, please visit our website at www.zlk.com.

Attorney Advertising

 

Levi & Korsinsky is a leading securities litigation firm with a hard-earned reputation for protecting investors’ rights and recovering losses arising from fraud, mismanagement and corporate abuse.  With thirty attorneys and offices in New York, Connecticut, California and Washington D.C., the firm is able to litigate cases in various jurisdictions in the U.S., England, and in other international jurisdictions.

Levi & Korsinsky provides portfolio monitoring services for high-net worth investors and institutional clients.  Our firm also assists investors in evaluating whether to opt-out of large securities class actions to pursue individual claims.

For additional information about this case or our institutional services, please contact us.


TAL class action Levi & Korsinsky

Class Action Reports

TAL Class Action Report

Levi & Korsinsky Staff

On June 18, 2018, investors sued TAL Education Group (“TAL” or the “Company”) in United States District Court, Southern District of New York. The federal securities class action alleges that plaintiffs acquired TAL’s American Depository Shares (“ADS”) at artificially inflated prices between April 26, 2018 and June 13, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s what you need to know about the TAL Edcuation class action (TAL class action):

 

Summary of the Allegations

Company Background

The Company (NYSE: TAL) bills itself as “a leading education and technology enterprise in China.” As such, it provides “educational services and offers comprehensive tutoring services” for students in subjects ranging from English to Chinese, physics and chemistry.

Since its inception, the Company says, it has been “committed to integrating the internet [sic] and technology into education to deliver a better study experience for children.”

Although it is incorporated in the Cayman Islands, TAL is based in Beijing and most of the students it serves are also located in China.

Summary of Facts

TAL and two of its senior officers and/or directors (the “Individual Defendants”) now stand accused of deceiving investors by lying and withholding critical information about the Company’s business practices and prospects during the Class Period.

Specifically, they are accused of omitting truthful information about certain income from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused TAL’s ADS to trade at artificially inflated prices during the time in question.

The truth emerged on June 13, 2018, when Carson Block published a report “accusing the Company of issuing fraudulent profit figures by overstating net income, net income margin and other essential accounting figures.”

A closer look…

As alleged in the June 18 complaint, TAL made several false or misleading statements in a press release issued on April 26, 2018. In it, the Company shared its “unaudited financial results” for fourth fiscal quarter and 2018 fiscal year.

In the portion of the press release devoted to TAL’s “Highlights for the Fourth Quarter of Fiscal Year, the Company stated in pertinent part: “Net income attributable to TAL increased by 102.9% to US $69.5 million from US $34.3 million in the same period of the prior year.”

The Company also stated that: “Non-GAAP net income attributable to TAL, which excluded share-based compensation expenses, increased by 83.9% to US $82.1 million from US $ 44.7 million in the same period of the prior year.”

What TAL allegedly failed to disclose, however, was that it had overstated its net income and that its net income was actually “deteriorating.”

Furthermore, in its June 13 report, Carson Block alleged that the Company had been “fraudulently overstating its profits since at least FY 2016.” Carson Block also said it estimated that the Company had overstated its net income by at least 43.6% from FY 2016 through FY2018.

Impact of the Alleged Fraud on TAL’s ADS Price and Market Capitalization

Closing stock price prior to disclosures:

 

$45.43
Closing stock price the trading day after disclosures:

 

$38.41
One day stock price decrease (percentage) as a result of disclosures:

 

15.45%

The following chart illustrates the stock price during the class period:

 

Actions You May Take

If you have purchased shares during the Class Period, you may join the class action as a lead plaintiff, remain a passive class member, or opt out of this litigation and pursue individual claims that may not be available to the class as a whole.

NOTE: The deadline to file for lead plaintiff in this class action is August 17, 2018. You must file an application to be appointed lead plaintiff prior to this deadline in order to be considered by the Court. Typically, the plaintiff or plaintiffs with the largest losses are appointed lead plaintiff.

In order to identify your potential exposure to the alleged fraud during the time in question, you may wish to perform an analysis of your transactions in TAL’s ADS using court approved loss calculation methods.

 

 

 

 

 

 

Recently Filed Cases

Listed below are recently filed securities class action cases being monitored by us, along with the class period and the deadline to file a motion to be appointed as the Lead Plaintiff in the action.  Please contact us if you would like an LK report for any of these cases:


Class Action Tracker 

 

 

About Us

This information is provided for general information purposes only, and should not be construed as legal advice, nor does it establish an attorney-client relationship with Levi & Korsinsky LLP.  Any and all information herein is simply an opinion based on publicly available information and should not necessarily be construed as fact.  For more information, please visit our website at www.zlk.com.

Attorney Advertising

 

Levi & Korsinsky is a leading securities litigation firm with a hard-earned reputation for protecting investors’ rights and recovering losses arising from fraud, mismanagement and corporate abuse.  With thirty attorneys and offices in New York, Connecticut, California and Washington D.C., the firm is able to litigate cases in various jurisdictions in the U.S., England, and in other international jurisdictions.

Levi & Korsinsky provides portfolio monitoring services for high-net worth investors and institutional clients.  Our firm also assists investors in evaluating whether to opt-out of large securities class actions to pursue individual claims.

For additional information about this case or our institutional services, please contact us.


Class Action Reports

UNM Class Action Report

Levi & Korsinsky Staff

June 29, 2018

On June 13, 2018, investors sued Unum Group (“Unum” or the ”Company”) in United States District Court, Eastern District of Tennessee. Plaintiffs in the federal class action suit allege that they acquired Unum stock at artificially inflated prices between January 31, 2018 and May 2,2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Unum class action:

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Merger News

CVG Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased Convergys Corporation (“Convergys” or the “Company”) (NYSE: CVG) stock prior to June 28, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Convergys merger. Convergys will be sold to SYNNEX Corporation (NYSE: SNX). Under the terms of the transaction, Convergys shareholders will receive $13.25 in cash and 0.1193 shares of SYNNEX common stock for each Convergys share they own. This represents a value of approximately $26.50 per share. To learn more about the action and your rights, go tohttp://www.zlk.com/mna/convergys-corporation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The Convergys merger investigation concerns whether the Board of Convergys breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether SYNNEX Corporation is underpaying for Convergys shares, thus unlawfully harming Convergys shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


GOGO class action lawsuit Levi & Korsinsky

Class Action News

GOGO Class Action Lawsuit Deadline Approaches

Levi & Korsinsky Staff

June 28, 2018

To: All persons or entities who purchased or otherwise acquired securities of Gogo Inc. (“Gogo”) (NASDAQ: GOGO) between February 27, 2017 and May 7, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois. To get more information on the  go to: http://www.zlk.com/pslra-d/gogo-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Gogo’s 2Ku antenna had more reliability issues than the public was led to believe; (2) Gogo’s 2Ku antennas required costly installation and faced costly remediation challenges or required replacement due to deicing fluids from planes infiltrating the 2Ku system, as well as manufacturing and software issues; (3) consequently, Gogo would not be able to meet its previously issued 2018 guidance; and (4) as a result, the company’s financial statements were materially false and misleading at all relevant times.

 

If you suffered a loss in Gogo you have until August 27, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


PF merger Levi & Korsinsky

Merger News

PF Merger Investigation

Levi & Korsinsky Staff

June 27, 2018

To: All Persons or Entities who purchased Pinnacle Foods Inc. (“Pinnacle Foods” or the “Company”) (NYSE: PF) stock prior to June 27, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Pinnacle Foods merger. Pinnacle Foods will be sold to Conagra Brands, Inc. (NYSE: CAG). Under the terms of the transaction, Pinnacle Foods shareholders will receive $43.11 per share in cash and 0.6494 shares of Conagra Brands stock per share, representing an approximate value of $68.00 per share. To learn more about the PF merger and your rights, go tohttp://www.zlk.com/mna/pinnacle-foods-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of Pinnacle Foods breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Conagra Brands is underpaying for Pinnacle Foods shares, thus unlawfully harming Pinnacle Foods shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


EDR class action lawsuit Levi & Korsinsky

Class Action News

EDR Class Action Lawsuit Deadline Approaches

Levi & Korsinsky Staff

June 26, 2018

To: All Persons or Entities who purchased EdR (“EdR” or the “Company”) (NYSE: EDR) stock prior to June 25, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of EdR to Greystar Student Housing Growth and Income Fund, LP for $41.50 in cash per share. To learn more about the EDR class action lawsuit and your rights, go tohttp://www.zlk.com/mna/edr or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of EdR breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Greystar is underpaying for EdR shares, thus unlawfully harming EdR shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


HAIR class action lawsuit Levi & Korsinsky

Class Action News

HAIR Class Action Lawsuit Deadline Approaches

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Restoration Robotics, Inc. (“Restoration Robotics”) (NASDAQGM: HAIR) pursuant to the initial public offering commenced on October 12, 2017 and closed on October 16, 2017. You are hereby notified that the securities class action lawsuit Guerrini v. Restoration Robotics, Inc. (5:18-cv-03712) has been commenced in the United States District Court for the Northern District of California, San Jose Division. To get more information on the Restoration Robotics class action lawsuit (HAIR class action lawsuit), go to: http://www.zlk.com/pslra-d/restoration-robotics-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The complaint alleges that Restoration Robotics negligently issued untrue statements of material facts in, and omitted to state material facts required to be stated from, the Offering Materials issued in connection with the Initial Public Offering. The complaint further alleges that as a result of the materially misleading Offering Materials, the Company’s stock price was artificially inflated at the time of the IPO.

 

At the time of the IPO, Restoration Robotics sold 3,897,910 shares at a price of $7.00 per share. Since the IPO, however, Restoration Robotics stock has fallen substantially, with a recent close of $2.69 per share on June 22, 2018.

 

If you suffered a loss in Restoration Robotics you have until August 21, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


QCOM class action Levi & Korsinsky

Class Action Reports

Qualcomm Class Action Lawsuit

Levi & Korsinsky Staff

June 22, 2018

On June 8, 2018, investors sued Qualcomm, Incorporated (“Qualcomm” or the “Company”) in United States District Court, Southern District of California. Investors in the federal securities class action allege that they acquired Qualcomm stock at artificially inflated prices between January 31, 2018 and March 12, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Qualcomm class action lawsuit (QCOM class action lawsuit):

 

Summary of the Allegations

Company Background

Qualcomm (NASDAQ: QCOM) is a self-described “pioneer in 3G (third generation) and 4G (fourth generation) wireless technologies.” It also claims that it is a “leader in 5G (fifth generation) wireless technologies to empower a new era of intelligent, connected devices.” As such, it generates the bulk of its revenue through the sales of “integrated circuit products” and the licensing of intellectual property.

According to its website, Qualcomm was founded in 1985 and became a public company six years later. After reaching several milestones in the late 20th and early 21st centuries, the Company says it became “the world’s leading mobile chipset provider” in 2007.

Summary of Facts

The Company and two of its senior executives and/or directors currently stand accused of deceiving investors by lying and or withholding critical information about Qualcomm’s business practices during the Class Period.

Specifically, they are accused of omitting truthful information about certain actions taken by the Company from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Qualcomm stock to trade at artificially inflated prices during the time in question.

The truth about what Qualcomm did to try and prevent Broadcom Limited (“Broadcom”) from acquiring it emerged in a series of events that began when Broadcom issued a press release on March 5, 2018. In it, Broadcom said it had just learned that Qualcomm secretly requested that the Committee on Foreign Investment in the United States (“CFIUS”) investigate Broadcom’s attempts to acquire the Company. Broadcom also described the move as a “blatant, desperate act” designed to “entrench [Qualcomm’s] incumbent board of directors and prevent its own stockholders from voting for Broadcom’s independent director nominees.”

Nevertheless, one week later Qualcomm filed with the SEC a form along with a letter that it had received from the U.S. Department of Treasury. In it, the Treasury Department confirmed that CFIUS had identified “potential national security concerns” during the investigation requested by Qualcomm.

Then, after the market closed on March 12, 2018, U.S. President Donald J. Trump acted on CFIUS’ recommendation and issued an order “blocking Broadcom from taking further action regarding its proposed acquisition of Qualcomm.”

 

A closer look…

As alleged in the June 8 complaint, Qualcomm repeatedly made misleading public statements throughout the Class Period.

For example, on a form filed with the SEC at the beginning of the Class Period, the Company discussed Broadcom’s plan, saying in pertinent part: “On November 12, 2017, following a comprehensive review conducted in consultation with financial and legal advisors, our Board of Directors unanimously rejected the Proposed Transaction, concluding that it dramatically undervalues the Company.”

On the same form, Qualcomm said that it was “subject to a disruptive takeover proposal” and that, “we may not be able to attract and retain qualified employees.”

However, Qualcomm did not disclose that it had recently approached CFIUS about the investigation.

Impact of the Alleged Fraud on Qualcomm’s Stock Price and Market Capitalization

Closing stock price prior to disclosures:

 

$62.81
Closing stock price the trading day after disclosures:

 

$59.70
One day stock price decrease (percentage) as a result of disclosures:

 

4.95%

The following chart illustrates the stock price during the class period:

 

Actions You May Take

If you have purchased shares during the Class Period, you may join the class action as a lead plaintiff, remain a passive class member, or opt out of this litigation and pursue individual claims that may not be available to the class as a whole.

NOTE: The deadline to file for lead plaintiff in this class action is August 7, 2018. You must file an application to be appointed lead plaintiff prior to this deadline in order to be considered by the Court. Typically, the plaintiff or plaintiffs with the largest losses are appointed lead plaintiff.

In order to identify your potential exposure to the alleged fraud during the time in question, you may wish to perform an analysis of your transactions in Qualcomm common stock using court approved loss calculation methods.

Recently Filed Cases

Listed below are recently filed securities class action cases being monitored by us, along with the class period and the deadline to file a motion to be appointed as the Lead Plaintiff in the action.  Please contact us if you would like an LK report for any of these cases:

 

QCOM Class Action
 

About Us

This information is provided for general information purposes only, and should not be construed as legal advice, nor does it establish an attorney-client relationship with Levi & Korsinsky LLP.  Any and all information herein is simply an opinion based on publicly available information and should not necessarily be construed as fact.  For more information, please visit our website at www.zlk.com.

Attorney Advertising

 

Levi & Korsinsky is a leading securities litigation firm with a hard-earned reputation for protecting investors’ rights and recovering losses arising from fraud, mismanagement and corporate abuse.  With thirty attorneys and offices in New York, Connecticut, California and Washington D.C., the firm is able to litigate cases in various jurisdictions in the U.S., England, and in other international jurisdictions.

Levi & Korsinsky provides portfolio monitoring services for high-net worth investors and institutional clients.  Our firm also assists investors in evaluating whether to opt-out of large securities class actions to pursue individual claims.

For additional information about this case or our institutional services, please contact us.


Class Action Reports

Deutsche Bank Class Action Lawsuit

Levi & Korsinsky Staff

On June 7, 2018, investors sued Deutsche Bank Aktiengesessschaft (Deutsche Bank or the “Company”) in United States District Court, Southern District of New York. Plaintiffs in the federal securities class action allege that they acquired Deutsche Bank stock at artificially inflated prices between March 20, 2017 and May 30, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Deutsche Bank class action lawsuit (DB class action lawsuit):

 

Summary of the Allegations

Company Background

Deutsche Bank (NYSE: DB) is a worldwide financial service provider that engages in commercial, investment, private and retail banking. As such, it offers its customers comprehensive services including but not limited to debt, foreign exchange, derivatives, commodities, money markets, repo and securitization, cash equities and research.

The Company’s history dates to 1870, when Adelbert Delbrück, a private banker, and Ludwig Bamberger, a politician and currency expert, first proposed its creation. The King of Prussia approved its articles of incorporation on March 10, 1870, and it officially opened for business that April.

Its first offices were located in Berlin, and its first domestic branches were located in Bremen and Frankfurt am Main. Its first foreign branches were located in Shaghai, Yokahama and London. Deutsche Bank established its first U.S. branch in New York in 1979.

Although its executive offices are now located in Frankfurt am Main, Deutsche Bank also has a U.S. office on Wall Street.

Summary of Facts

Deutsche Bank and three of its current and former officers and/or directors now stand accused of deceiving investors by lying and withholding critic information about the Company’s business practices during the Class Period.

Specifically, they are accused of omitting truthful information about the efficacy of its internal control environment and infrastructure from SEC filings and related materials. By knowingly or recklessly doing so, they allegedly caused Deutsche Bank stock to trade at artificially inflated prices during the time in question.

The truth emerged in an article published by the Wall Street Journal on May 31, 2018.  The article revealed that “the U.S. Federal Reserve had designated Deutsche Bank’s U.S. business to be in ‘troubled condition,’ citing controls about its around measuring financial exposure to clients and valuing collateral that backed loans.’” The article also revealed that, “the Federal Deposit Insurance Corporation has added Deutsche Bank’s subsidiary, Deutsche Bank Trust Company Americas to its ‘problem banks’ list of at-risk institutions.”

A closer look…

As alleged in the June 7 complaint, the Company repeatedly made misleading public statements throughout the Class Period.

For instance, on a form filed with the SEC at the beginning of the Class Period, it said in pertinent part: “An evaluation was carried out under the supervision and with the participation of our management, including our Chairman and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures… as of December 31, 2016. Based upon such evaluation, our Chairman and Chief Financial Officer concluded that the design and operation of our disclosure and procedures were effective as of December 31, 2016.”

The same form included certifications signed by two of the Individual Defendants that stated: “The financial statements, and other financial information included in [the 2016 20-F], fairly present in all material respects the financial condition, results of operations and cash flows of the company as of, and for, the periods presented in [the 2016 20-F].”

Deutsche Bank reiterated those statements and included signed certifications pertaining to the accuracy of its financial statements on another form filed with the SEC on March 16, 2018.

Impact of the Alleged Fraud on Deutsche Bank’s Stock Price and Market Capitalization

Closing stock price prior to disclosures:

 

$11.57
Closing stock price the trading day after disclosures:

 

$11.08
One day stock price decrease (percentage) as a result of disclosures:

 

4.24%

The following chart illustrates the stock price during the class period:

 

Actions You May Take

If you have purchased shares during the Class Period, you may join the class action as a lead plaintiff, remain a passive class member, or opt out of this litigation and pursue individual claims that may not be available to the class as a whole.

NOTE: The deadline to file for lead plaintiff in this class action is August 6, 2018. You must file an application to be appointed lead plaintiff prior to this deadline in order to be considered by the Court. Typically, the plaintiff or plaintiffs with the largest losses are appointed lead plaintiff.

In order to identify your potential exposure to the alleged fraud during the time in question, you may wish to perform an analysis of your transactions in Deutsche Bank common stock using court approved loss calculation methods.

 

Recently Filed Cases

Listed below are recently filed securities class action cases being monitored by us, along with the class period and the deadline to file a motion to be appointed as the Lead Plaintiff in the action.  Please contact us if you would like an LK report for any of these cases:

 

DB Class Action
 

About Us

This information is provided for general information purposes only, and should not be construed as legal advice, nor does it establish an attorney-client relationship with Levi & Korsinsky LLP.  Any and all information herein is simply an opinion based on publicly available information and should not necessarily be construed as fact.  For more information, please visit our website at www.zlk.com.

Attorney Advertising

 

Levi & Korsinsky is a leading securities litigation firm with a hard-earned reputation for protecting investors’ rights and recovering losses arising from fraud, mismanagement and corporate abuse.  With thirty attorneys and offices in New York, Connecticut, California and Washington D.C., the firm is able to litigate cases in various jurisdictions in the U.S., England, and in other international jurisdictions.

Levi & Korsinsky provides portfolio monitoring services for high-net worth investors and institutional clients.  Our firm also assists investors in evaluating whether to opt-out of large securities class actions to pursue individual claims.

For additional information about this case or our institutional services, please contact us.


ORA Class Action Levi & Korsinsky

Class Action Reports

Ormat Technologies Class Action Lawsuit

Levi & Korsinsky Staff

On June 11, 2018, investors sued Ormat Technologies, Inc., (“Ormat” or the “Company”) in United States District Court, District of Nevada. The federal securities class action alleges that the plaintiffs acquired Ormat stock at artificially inflated prices between August 8, 2017 and May 15, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s what you need to know about the Ormat Technologies class action lawsuit (ORA class action lawsuit):

 

Summary of the Allegations

Company Background

According to its website, Ormat (NYSE: ORA) designs, builds and supplies “power generating equipment” for “geothermal and recovered energy” power plants.

Established in 1965, the Company initially achieved recognition as “a pioneer of proprietary turbine designs, capable of generating electricity from low enthalpy energy resources.” As such, it focused its efforts on manufacturing power generation equipment. In the late 20th century, the Company shifted gears and “growing renewable energy expertise on the geothermal industry.”

Today, the Company says, it has customers in 30 countries. It also claims that it has gained “focused its global expertise in exploring, developing, designing, manufacturing, building, owning and operating geothermal power plants in Kenya, Guadalupe, Guatemala, Honduras and the United States.”

Summary of Facts

Ormat and two of its senior officers now stand accused of deceiving investors by lying and withholding critical information about the Company’s business practices during the Class Period.

Specifically, they are accused of omitting truthful information about certain accounting practices and errors, and about the efficacy of its internal controls over financial reporting, from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Ormat stock to trade at artificially inflated prices during the time in question.

The truth first surfaced on May 11, when the Company revealed that it would be unable to meet the deadline for filing its Quarterly Report for the period that ended on March 31, 2018 with the SEC. The Company also blamed the discovery of “an error in the Company’s financial statement presentation of deterred income tax assets and deferred income tax liabilities that affects the Company’s balance sheets in previous reporting periods” for its inability to do so.

Less than a week later Ormat revealed that “it will restate its second, third and fourth quarter 2017 financial statements and its full-year 2017 financial statements.” Ormat also advised investors that they should no longer rely on the prior financial statements, earnings statements or related material for the specified periods.

A closer look…

As alleged in the June 11 complaint, the Company repeatedly made false and misleading statements in its SEC filings during the Class Period.

For example, on a form filed with the SEC on August 8, 2017, the Company stated that its “disclosure controls and procedures” were effective as of June 30, 2017. It also stated that “[t]here were no changes in our internal controls over financial reporting in the second quarter of 2017 that have materially affected or are reasonably likely to materially affect our internal controls over financial reporting.”

On the same form, Ormat included signed certifications in which the senior officers named in the suit affirmed the “accuracy of financial reporting, the disclosure of any material changes to the Company’s internal controls over financial reporting, and the disclosure of all fraud.”

The Company reiterated these statements and included signed certifications attesting to the same matters on two additional forms filed with the SEC during the Class Period.

Impact of the Alleged Fraud on Ormat’s Stock Price and Market Capitalization

Closing stock price prior to disclosures:

 

$53.02
Closing stock price the trading day after disclosures:

 

$52.35
One day stock price decrease (percentage) as a result of disclosures:

 

1.26%

The following chart illustrates the stock price during the class period:

 

Actions You May Take

If you have purchased shares during the Class Period, you may join the class action as a lead plaintiff, remain a passive class member, or opt out of this litigation and pursue individual claims that may not be available to the class as a whole.

NOTE: The deadline to file for lead plaintiff in this class action is August 10, 2018. You must file an application to be appointed lead plaintiff prior to this deadline in order to be considered by the Court. Typically, the plaintiff or plaintiffs with the largest losses are appointed lead plaintiff.

In order to identify your potential exposure to the alleged fraud during the time in question, you may wish to perform an analysis of your transactions in Ormat common stock using court approved loss calculation methods.

 

Recently Filed Cases

Listed below are recently filed securities class action cases being monitored by us, along with the class period and the deadline to file a motion to be appointed as the Lead Plaintiff in the action.  Please contact us if you would like an LK report for any of these cases:


ORA Class Action 
 

 

About Us

This information is provided for general information purposes only, and should not be construed as legal advice, nor does it establish an attorney-client relationship with Levi & Korsinsky LLP.  Any and all information herein is simply an opinion based on publicly available information and should not necessarily be construed as fact.  For more information, please visit our website at www.zlk.com.

Attorney Advertising

 

Levi & Korsinsky is a leading securities litigation firm with a hard-earned reputation for protecting investors’ rights and recovering losses arising from fraud, mismanagement and corporate abuse.  With thirty attorneys and offices in New York, Connecticut, California and Washington D.C., the firm is able to litigate cases in various jurisdictions in the U.S., England, and in other international jurisdictions.

Levi & Korsinsky provides portfolio monitoring services for high-net worth investors and institutional clients.  Our firm also assists investors in evaluating whether to opt-out of large securities class actions to pursue individual claims.

For additional information about this case or our institutional services, please contact us.


Class Action News

TAL Education Class Action Lawsuit Deadline Approaches

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of TAL Education Group (“TAL Education”) (NYSE: TAL) between April 26, 2018 and June 13, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information on the TAL Education lawsuit (TAL lawsuit) go to: http://www.zlk.com/pslra-d/tal-education-group or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Tal Education class action complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company overstated its net income; (2) the Company’s net income was deteriorating; and (3) as a result of the foregoing, Defendants’ statements about TAL’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

 

On June 13, 2018, Muddy Waters website published a report alleging that TAL has been fraudulently overstating its profits since at least the fiscal year 2016. On this news, shares of TAL Education fell from a close of $45.65 on June 12, 2018, to a close of $38.74 on June 15, 2018.

 

If you suffered a loss in TAL Education you have until August 17, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


Web.com merger Levi & Korsinsky

Merger News

Web.com Merger Investigation

Levi & Korsinsky Staff

June 21, 2018

To: All Persons or Entities who purchased Web.com Group, Inc. (“Web.com” or the “Company”) (NASDAQGS: WEB) stock prior to June 21, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Web.com merger. Web.com will be sold to an affiliate of Siris Capital Group, LLC for $25.00 per share. To learn more about the action WEB merger and your rights, go tohttp://www.zlk.com/mna/web-com-group-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The Web.com merger investigation concerns whether the Board of Web.com breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Siris Capital Group, LLC is underpaying for Web.com shares, thus unlawfully harming Web.com shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


Cloud With Me lawsuit Levi & Korsinsky

Class Action News

Cloud With Me Lawsuit, ICO Class Action Deadline Approaches

Levi & Korsinsky Staff

June 20, 2018

To: All persons or entities who purchased or otherwise acquired Cloud Tokens (“CLD Tokens”) pursuant to Cloud With Me Ltd.’s Initial Coin Offering which began on approximately July 25, 2017 and was ongoing as of June 19, 2018. You are hereby notified that Levi & Korsinsky has commenced the action Balestra v. Cloud With Me Ltd. (Case 2:18-cv-00804-LPL) in the United States District Court for the Western District of Pennsylvania. To get more information on the Cloud With Me Lawsuit go to: http://www.zlk.com/pslra-sbm-cc/cloudwithme or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Cloud With Me class action complaint alleges that Cloud With Me violated Sections 12(a)(1) and 15(a) of the Securities Act of 1933, by engaging in interstate commerce for the purposes of offering, selling, or delivering unregistered securities. The complaint alleges that the CLD Tokens constitute securities by virtue of defendants’ assertions that the CLD Token would increase in value as it became the “standard currency” for the Company’s yet-to-be-created decentralized cloud network as well as the continuous focus in Cloud With Me’s marketing campaigns on the “significant liquidity” CLD Token would have as it became listed on multiple virtual currency exchanges.

 

If you purchased CLD Tokens pursuant to the ICO you have until August 20, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


Class Action News

Esperion Class Action Lawsuit Deadline Approaches

Levi & Korsinsky Staff

June 19, 2018

Anyone who purchased or otherwise acquired shares of Esperion Therapeutics, Inc. (“Esperion”) (NASDAQ: ESPR) between February 22, 2017 and May 1, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Eastern District of Michigan. To find out more on the Esperion class action lawsuit (ESPR class action lawsuit), go to: http://www.zlk.com/pslra-d/esperion-therapeutics or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The lawsuit alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Esperion’s cholesterol-lowering medication, bempedoic acid, entailed serious undisclosed safety risks, including death; and (ii) as a result of the foregoing, Esperion’s public statements were materially false and misleading at all relevant times. On May 2, 2018, Esperion announced results from its second Phase 3 study for its cholesterol-lowering medication bempedoic acid. Esperion reported that while the trial met the primary endpoint of safety and tolerability and the key efficacy endpoint, there were 13 deaths in the treatment group compared to only two in the control group. On this news, Esperion’s share price fell from a close of $70.50 per share on May 1, 2018, to a close of $45.75 per share the following day.

 

If you suffered a loss in Esperion you have until July 6, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

For more information on the Esperion lawsuit (ESPR lawsuit), contact levi & Korsinsky. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


TAL class action investigation Levi & Korsinsky

Class Action News

TAL Class Action Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of TAL Education Group (“TAL Education” or “the Company”) (NYSE: TAL) concerning possible violations of federal securities laws. On June 13, 2018, Muddy Waters website published a report alleging that TAL has been fraudulently overstating its profits since at least the fiscal year 2016. On this news, shares of TAL Eduation fell from a close of $45.65 on June 12, 2018, to a recent close of $38.74 on June 15, 2018. To obtain additional information on the TAL Education class action investigation (TAL class action investigation), go tohttp://www.zlk.com/pslra-d/tal-education-group or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


FBNK merger Levi & Korsinsky

Merger News

FBNK Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased First Connecticut Bancorp, Inc. (“First Connecticut” or the “Company”) (NASDAQ: FBNK) stock prior to June 19, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the First Connecticut merger. First Connecticut will be sold to People’s United Financial, Inc. (“People’s United”) (NASDAQ: PBCT). Under the terms of the transaction, First Connecticut shareholders will receive 1.725 shares of People’s United stock for each First Connecticut share they own, representing a value of approximately $32.33 per share. To learn more about the action and your rights, go tohttp://www.zlk.com/mna/first-connecticut-bancorp-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of First Connecticut breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether People’s United is underpaying for First Connecticut shares, thus unlawfully harming First Connecticut shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


COTV Merger Levi & Korsinsky

Merger News

COTV Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased Cotiviti Holdings, Inc. (“Cotiviti” or the “Company”) (NYSE: COTV) stock prior to June 19, 2018.

You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Cotiviti merger. Cotiviti will be sold to Verscend Technologies, Inc. for $44.75 in cash per share. To learn more about the COTV merger and your rights, go tohttp://www.zlk.com/mna/cotiviti-holdings-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of Cotiviti breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Verscend Technologies, Inc. is underpaying for Cotiviti shares, thus unlawfully harming Cotiviti shareholders. Shareholders holding approximately 44% of the voting power have voted in favor of the transaction.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


FAT class action investigation Levi & Korsinsky

Class Action News

FAT Class Action Investigation

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of FAT Brands Inc. (“FAT Brands” or the “Company”) (NASDAQCM: FAT) concerning possible violations of federal securities laws. The investigation concerns whether the Company issued false and/or misleading statements and/or failed to disclose material information to investors in its Registration Statement issued pertaining to the Company’s October 23, 2017 Initial Public Offering. To obtain additional information on the FAT Brands class action investigation (FAT class action investigation), go tohttp://www.zlk.com/pslra-d/fat-brands or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


PERY sale Levi & Korsinsky

Merger News

PERY Sale Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased Perry Ellis International, Inc. (“Perry Ellis” or the “Company”) (NASDAQGS: PERY) stock prior to June 16, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Perry Ellis sale to George Feldenkreis, the Company’s founder and a member of the Board of Directors. Under the terms of the transaction, Feldenkreis will purchase all outstanding shares of Perry Ellis not already owned by the Feldenkreis family for $27.50 per share in cash. To learn more about the PERY sale and your rights, go tohttp://www.zlk.com/mna/perry-ellis-international-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of Perry Ellis breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Feldenkreis is using his position as an insider to purchase the Company at an unfair price.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


COBZ merger Levi & Korsinsky

Class Action News

COBZ Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased CoBiz Financial Inc. (“CoBiz” or the “Company”) (NASDAQGS: COBZ) stock prior to June 18, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the CoBiz merger. CoBiz will be sold to BOK Financial Corporation (NASDAQGS: BOKF). Under the terms of the transaction, CoBiz shareholders will receive 0.17 shares of BOK stock and $5.70 in cash for each share of CoBiz stock they own. Based on the closing price of BOK Financial Corporation on June 15, 2018, this represents a value of approximately $23.02 per share. To learn more about the COBZ merger investigation and your rights, go tohttp://www.zlk.com/mna/cobiz-financial-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of CoBiz breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether BOK Financial is underpaying for CoBiz shares, thus unlawfully harming CoBiz shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


ORA class action Levi & Korsinsky

Class Action News

ORA Class Action Deadline Approaches

Levi & Korsinsky Staff

June 18, 2018

To: All persons or entities who purchased or otherwise acquired securities of Ormat Technologies, Inc. (“Ormat Technologies”) (NASDAQ: ORA) between August 8, 2017 and May 15, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the District of Nevada. To get more information on the Ormat Technologies class action lawsuit (ORA class action lawsuit) go to: http://www.zlk.com/pslra-d/ormat-technologies-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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DB class action Levi & Korsinsky

Class Action News

DB Class Action Deadline Approaching

Levi & Korsinsky Staff

June 15, 2018

To: All persons or entities who purchased or otherwise acquired securities of Deutsche Bank Aktiengesellschaft (“Deutsche Bank”) (NYSE: DB) between March 20, 2017 and March 30, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information on the Deutsche Bank class action lawsuit (DB class action) go to: http://www.zlk.com/pslra-d/deutsche-bank-aktiengesellschaft or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Deutsche Bank’s internal control environment and infrastructure were materially weak and deficient; and (2) as a result, Deutsche Bank’s statements about the Company’s business and operations were materially false and misleading at all relevant times.

 

On May 31, 2018, The Wall Street Journal reported that the U.S. Federal Reserve had designated Deutsche Bank’s U.S. business as being in a “trouble condition,” citing concerns about “its controls around measuring financial exposure to clients and valuing collateral that backed loans.” It was also reported that the Federal Deposit Insurance Corporation (“FDIC”) added Deutsche Bank’s FDIC-insured subsidiary, Deutsche Bank Trust Company Americas, to a list of “problem banks” which are at-risk. On this news, Deutsche Bank’s share price fell $0.49 or over 4% to close at $11.08 on May 31, 2018.

 

If you suffered a loss in Deutsche Bank you have until August 6, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


QCOM class action Levi & Korsinsky

Class Action News

QCOM Class Action Lawsuit Deadline Approaches

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of QUALCOMM Incorporated (“Qualcomm”) (NASDAQ: QCOM) between January 31, 2018 and March 12, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of California. To get more information on the Qualcomm class action lawsuit (QCOM class action lawsuit) go to: http://www.zlk.com/pslra-d/qualcomm-investigation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Qualcomm had secretly filed a unilateral notice with CFIUS in order to frustrate Broadcom’s attempt to acquire the Company; and (2) investors suffered damages as a result of defendants’ wrongful acts and omissions. On March 5, 2018, Broadcom announced that Qualcomm had filed a voluntary request for The Committee on Foreign Investment in the United States to initiate an investigation into Broadcom’s actions. Broadcom referred to this as a “blatant, desperate act by Qualcomm to entrench its incumbent board of directors and prevent its own stockholders from voting for Broadcom’s independent director nominees.”

 

If you suffered a loss in Qualcomm you have until August 7, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


FLKS class action investigation Levi & Korsinsky

Class Action News

FLKS Class Action Investigation

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Flex Pharma, Inc. (“Flex Pharma” or “the Company”) (NASDAQGM: FLKS) concerning possible violations of federal securities laws. On June 13, 2018, Flex Pharma announced it would cease its “ongoing Phase 2 clinical trial investigations of FLX-787 in amyotrphic lateral sclerosis and Charcot-Marie-Tooth due to oral tolerability concerns observed in a subset of patients…” The Company also announced a restructuring plan that includes reducing its workforce by approximately 60 percent. Following this news, shares of Flex Pharma fell from a close of $4.18 per share on June 12, 2018, to a close of $1.04 per share on June 13, 2018. To obtain additional information on the Flex Pharma class action investigation (FLKS class action investigation), go tohttp://www.zlk.com/pslra-d/flex-pharma-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

 


CALI class action lawsuit Levi & Korsinsky

Class Action Reports

CALI Class Action Report

Levi & Korsinsky Staff

June 14, 2018

On June 5, 2018, investors sued China Auto Logistics, Inc. (“China Auto” or the “Company”) in United States District Court, District of New Jersey. Plaintiffs in the federal securities class action allege that they acquired China Auto securities at artificially inflated prices between March 28, 2017 and April 13, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s what you need to know about the China Auto class action lawsuit (CALI class action lawsuit)

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ANW class action Levi & Korsinsky

Class Action Reports

ANW Class Action Report

Levi & Korsinsky Staff

On June 5, 2018, investors sued Aegean Marine Petroleum Network, Inc. (“Aegean” or the “Company”) in United States District Court, Southern District of New York. Plaintiffs in the federal securities class action allege that they acquired Aegean stock at artificially inflated prices between April 28, 2016, and June 4, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Aegean class action (ANW Class Action):

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PCG Class Action Levi & Korsinsky

Class Action News

PCG Class Action Lawsuit Commences

Levi & Korsinsky Staff

June 13, 2018

To: All persons or entities who purchased or otherwise acquired common stock of PG&E Corporation (NYSE: PCG) between April 29, 2015, and June 8, 2018. You are hereby notified that Levi & Korsinsky has commenced the class action Weston v. PG&E Corporation, et al. (Case No. 3:18-cv-03509) in the USDC for the Northern District of California. To get more information on the PG&E class action lawsuit (PCG class action lawsuit) go tohttp://www.zlk.com/pslra-d/pge-corporation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The PG&E lawsuit complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that (i) PG&E had failed to maintain electricity transmission and distribution networks in compliance with safety requirements and regulations promulgated under state law; (ii) consequently, PG&E was in violation of state law regulation; (iii) PG&E’s electricity networks would cause numerous wildfires in California; and (iv) as a result of the foregoing, Defendants’ statements about the Company’s business and operations were materially false and misleading at all relevant times.

 

On June 9, 2018, Bloomberg published an article entitled “PG&E May Face Criminal Charges After Probe of Deadly Wildfires.” The article reported, in part, that following an investigation into the causes of California wildfires in October 2017, California’s fire agency “found evidence of alleged violations of law by PG&E in connection with” the fires.

 

If you suffered a loss in PG&E Corporation you have until August 13, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


CSTW merger Levi & Korsinsky

Merger News

CSTW Merger Investigation

Levi & Korsinsky Staff

June 12, 2018

To: All Persons or Entities who purchased Central Steel & Wire Company (“Central Steel & Wire” or the “Company”) (Pink Sheet: CSTW) stock prior to June 5, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Central Steel & Wire merger. Central Steel & Wire will be sold to Ryerson Holding Corp. (NYSE: RYI) for $140 million. The deal is subject to certain conditions, but represents an approximate value of $669 per share. To learn more about the CSTW merger investigation and your rights, go tohttp://www.zlk.com/mna/central-steel-wire-company or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of Central Steel & Wire breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Ryerson Holding Corp. is underpaying for Central Steel & Wire shares, thus unlawfully harming Central Steel & Wire shareholders. Shareholders holding approximately 73% of the Company’s outstanding voting shares have agreed to tender their shares.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


Class Action News

Fluor Class Action Lawsuit Filed by Levi & Korsinsky

Levi & Korsinsky Staff

Anyone who purchased shares of Fluor Corporation (NYSE: FLR) from August 14, 2013 to May 3, 2018: you are hereby notified that Levi & Korsinsky has filed the class action Chun v. Fluor Corporation (Case No. 3:18-cv-01338-S) in the USDC for the Northern District of Texas. To find out more info about the Fluor class action lawsuit (FLR class action lawsuit) click herehttp://www.zlk.com/pslra-d/fluor-class-action or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Fluor class action lawsuit complaint alleges that during the Class Period defendants made false and/or misleading statements and/or failed to disclose that (i) Fluor’s bidding process for projects related to the construction of gas-fired power plants was flawed; (ii) Fluor had improperly estimated the gas-fire projects; (iii) as a result, Fluor would face craft productivity issues, equipment issues and other execution issues; (iv) Fluor would incur multiple charges impacting quarterly results; and (v) Fluor would ultimately decide to discontinue the pursuit of the gas-fired power market.

 

If you suffered a loss in Fluor you have until July 24, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

For more information on the Fluor lawsuit (FLR lawsuit), contact Levi & Korsinsky. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

 


QCOM class action investigation Levi & Korsinsky

Class Action News

QCOM Class Action Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of QUALCOMM Incorporated (“Qualcomm” or “the Company”) (NASDAQGS: QCOM) concerning possible violations of federal securities laws. In 2017, Broadcom Limited began making a series of unsolicited proposals to acquire all outstanding Qualcomm shares. Then on March 5, 2018, Broadcom announced that  Qualcomm had filed a voluntary request for The Committee on Foreign Investment in the United States to initiate an investigation into Broadcom’s actions. Broadcom referred to this as a “blatant, desperate act by Qualcomm to entrench its incumbent board of directors and prevent its own stockholders from voting for Broadcom’s independent director nominees.” To obtain additional information on the Qualcomm class action investigation (QCOM class action investigation), go tohttp://www.zlk.com/pslra-d/qualcomm-investigation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


EVHC merger investigation Levi & Korsinsky

Merger News

EVHC Merger Investigation

Levi & Korsinsky Staff

June 11, 2018

To: All Persons or Entities who purchased Envision Healthcare Corporation (“Envision” or the “Company”) (NYSE: EVHC) stock prior to June 11, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Envision merger. Envision will be sold to the investment firm KKR. Under the terms of the transaction, Envision shareholders will receive $46 in cash per share. To learn more about the EVHC merger and your rights, go tohttp://www.zlk.com/mna/envision-healthcare-corporation-2 or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of Envision breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether KKR is underpaying for Envision shares, thus unlawfully harming Envision shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


USG merger investigation Levi & Korsinsky

Merger News

USG Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased USG Corporation (“USG” or the “Company”) (NYSE: USG) stock prior to June 11, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the USG merger. USG will be sold to Gebr. Knauf KG. Under the terms of the transaction, USG shareholders will receive $44 per share, consisting of $43.50 per share in cash and a $0.50 per share special dividend paid upon shareholder approval of the transaction. To learn more about the USG merger and your rights, go tohttp://www.zlk.com/mna/usg-corporation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of USG breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Gebr. Knauf KG is underpaying for USG shares, thus unlawfully harming USG shareholders. Shareholders representing a combined 31% of the Company’s outstanding shares have already agreed to tender their shares.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


REPH class action Levi & Korsinsky

Class Action News

REPH Class Action Lawsuit Commences

Levi & Korsinsky Staff

June 8, 2018

To: All persons or entities who purchased or otherwise acquired securities of Recro Pharma, Inc. (“Recro Pharma”) (NASDAQ: REPH) between July 31, 2017 and May 23, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania. To get more information on the Recro Pharma class action lawsuit (REPH class action lawsuit) go to: http://www.zlk.com/pslra-d/recro-pharma-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that:  (i) the Company’s lead product, IV meloxicam, lacked supporting clinical data to show sufficient clinical benefits to receive U.S. Food and Drug Administration (“FDA”) approval; and (ii) as a result, Recro Pharma’s public statements were materially false and misleading at all relevant times. On May 24, 2018, Recro Pharma announced that the FDA had declined to approve its New Drug Application (“NDA”) for IV meloxicam. In its Complete Response Letter, the FDA stated that the drug’s analgesic effects did not meet FDA expectations and raised questions related to chemistry, manufacturing and controls data.

 

If you suffered a loss in Recro Pharma you have until July 30, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


DB class action investigation Levi & Korsinsky

Class Action News

DB Class Action Investigation

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Deutsche Bank Aktiengesellschaft (“Deutsche Bank” or “the Company”) (NYSE: DB) concerning possible violations of federal securities laws. On May 31, 2018, The Wall Street Journal reported that the U.S. Federal Reserve had designated Deutsche Bank’s U.S. business as being in a “trouble condition,” citing concerns about “its controls around measuring financial exposure to clients and valuing collateral that backed loans.” It was also reported that the Federal Deposit Insurance Corporation (“FDIC”) added Deutsche Bank’s FDIC-insured subsidiary, Deutsche Bank Trust Company Americas, to a list of “problem banks” which are at-risk. On this news, Deutsche Bank’s share price fell $0.49 or over 4% to close at $11.08 on May 31, 2018. To obtain additional information on the Deutsche Bank class action investigation (DB Class Action Investigation), go tohttp://www.zlk.com/pslra-d/deutsche-bank-aktiengesellschaft or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


REVG class action investigation Levi & Korsinsky

Class Action News

REVG Class Action Investigation Commences

Levi & Korsinsky Staff

June 7, 2018

Levi & Korsinsky announces it has commenced an investigation of REV Group, Inc. (“REV” or “the Company”) (NYSE: REVG) concerning possible violations of federal securities laws. On or about January 17, 2017, REV sold 12,500,000 million shares of stock in its initial public stock offering (the “IPO”) for $22 per share. Then in October 2017, a secondary offering of 10,000,000 shares of common stock by certain selling stockholders was sold at the public offering price of $27.25 per share. On June 6, 2018, REV reported net sales for the second quarter 2018 of $608.9 million. Adjusted net income for the second quarter 2018 was $15.6 million, a decline of 17.9 percent, compared to $19.0 million, or $0.29 per diluted share in the second quarter 2017. These results fell short of Wall Street expectations. Following this news, shares of REV were down more than 21% on intraday trading on June 7, 2018. To obtain additional information on the REV class action investigation (REVG class action investigation), go tohttp://www.zlk.com/pslra-d/rev-group-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


AVHI merger Levi & Korsinsky

Merger News

AVHI Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased AV Homes, Inc. (“AV Homes” or the “Company”) (NASDAQGS: AVHI) stock prior to June 7, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of the AV Homes merger. AV homes will be sold to Taylor Morrison Home Corporation (NYSE: TMHC). Under the terms of the transaction, AV Homes shareholders may elect to receive: (i) $21.50 per share in cash; (2) 0.9793 shares of Taylor Morrison Class A stock; or (3) a combination of $12.64 in cash and 0.4034 shares of Taylor Morrison Class A stock. TPG Capital, which holds 40% of AV Homes common stock, has already agreed to tender its shares. To learn more about the AVHI merger and your rights, go tohttp://www.zlk.com/mna/av-homes-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of AV Homes breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Taylor Morrison is underpaying for AV Homes shares, thus unlawfully harming AV Homes shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


MBVX class action Levi & Korsinsky

Class Action Reports

MBVX Class Action Report

Levi & Korsinsky Staff

On June 4, 2018, investors sued MabVax Therapeutics Holdings (“MabVax” or the “Company”) in United States District Court, Southern District of California. Plaintiffs in the federal securities class action allege that they acquired MabVax stock at artificially inflated prices between March 14, 2016 and May 18, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the MabVax class action lawsuit (MBVX class action lawsuit):

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REPH class action Levi & Korsinsky

Class Action Reports

REPH Class Action Report

Levi & Korsinsky Staff

On May 31, 2018, investors sued Recro Pharma, Inc., (“Recro” or the “Company”) in United States District Court, Eastern District of Pennsylvania. Plaintiffs in the federal securities class action allege that they acquired Recro stock at artificially inflated prices between July 31, 2017 and May 23, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Recro class action lawsuit (REPH class action lawsuit)

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Class Action News

ANW Class Action Lawsuit Commences

Levi & Korsinsky Staff

June 6, 2018

To: All persons or entities who purchased or otherwise acquired common stock of Aegean Marine Petroleum Network Inc. (NYSE: ANW) between April 28, 2016, and June 4, 2018. You are hereby notified that Levi & Korsinsky has commenced the class action Simco v. Aegean Marine Petroleum Network Inc. (Case No. 1:18-cv-04993) in the USDC for the Southern District of New York. To get more informationon the Aegean Marine class action lawsuit (ANW class action lawsuit) go tohttp://www.zlk.com/pslra-d/aegean-marine-class-action or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that (i) Aegean had improperly accounted for an approximate $200 million of accounts receivable as of December 31, 2017; (ii) Aegean failed to maintain effective internal control over financial reporting; and (iii) as a result of the foregoing, Defendants’ statements about Aegean’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

 

On June 4, 2018, Aegean filed a Form 6-K announcing that “approximately $200 million of accounts receivable owed to the Company at December 31, 2017 will need to be written off.” Per the 6-K, certain “transactions that gave rise to the accounts receivable… may have been, in full or in part, without economic substance and improperly accounted for…”

 

If you suffered a loss in Aegean you have until August 6, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


ANW class action investigation Levi & Korsinsky

Class Action News

ANW Class Action Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Aegean Marine Petroleum Network Inc. (“Aegean Marine” or “the Company”) (NYSE: ANW) concerning possible violations of federal securities laws. On May 22, 2018, Aegean Marine issued a Form 6-K announcing an internal review of its financial reporting. Then on June 4, 2018, Aegean Marine filed another Form 6-K announcing preliminary findings from the review, including that “approximately $200 million of accounts receivable at December 31, 2017 will need to be written off.” Per the 6-K, certain “transactions that gave rise to the accounts receivable… may have been, in full or in part, without economic substance and improperly accounted for in contravention of the Company’s normal policies and procedures.” Following this news, shares of Aegean Marine were down 66.96% on intraday trading on June 5, 2018. To obtain additional information on the Aegean Marine class action invetigation (ANW class action investigation), go tohttp://www.zlk.com/pslra-d/aegean-marine-investigation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

 


PRTA class action Levi & Korsinsky

Class Action News

PRTA Class Action Lawsuit Commences

Levi & Korsinsky Staff

June 1, 2018

To: All persons or entities who purchased or otherwise acquired securities of Prothena Corporation (“Prothena”) (NASDAQ: PRTA) between October 15, 2015 and April 20, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information on the Prothena class action lawsuit (PRTA class action lawsuit) go to: http://www.zlk.com/pslra-d/prothena-corporation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) relevant trial data showed that Prothena’s antibody NEOD001, designed to treat amyloid light chain amyloidosis (“AL amyloidosis”), was not an effective treatment; (2) the Company made misleading comparisons of NEOD001’s “best response” rates against certain prior studies; and (3) the Company touted Prothena’s ongoing Phase 1/2 study of NEOD001 as providing a strong basis for late-stage Phase 2b and Phase 3 studies of NEOD001, even though the full Phase 1/2 study data demonstrated that NEOD001 was not an effective treatment.

 

On October 15, 2015, Prothena announced its late-stage Phase 2b “PRONTO” study and expansion of its Phase 1/2 clinical trial for the antibody NEOD001. On April 23, 2018, Prothena announced it was ending development of NEOD001 after its Phase 2b PRONTO trial failed to reach either its primary or secondary endpoints. Following this news, shares of Prothena fell from a close of $36.84 on April 20, 2018, to a close of $11.50 per share on April 23, 2018.

 

If you suffered a loss in Prothena you have until July 16, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


REPH class action investigation Levi & Korsinsky

Class Action News

REPH Class Action Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Recro Pharma, Inc. (“Recro” or “the Company”) (NASDAQCM: REPH) concerning possible violations of federal securities laws. On May 24, 2018, Recro revealed that the U.S. Food & Drug Administration (the “FDA”) had declined to approve Recro’s New Drug Application for the non-opioid pain relief treatment IV meloxicam. The FDA stated in its Complete Response Letter that the drug’s analgesic effects did not meet its expectations and raised questions related to certain data included in the NDA. Following this news, Recro stock fell 54.7% to close at $5.63 per share on May 24, 2018. To obtain additional information on the Recro class action lawsuit (REPH class action lawsuit), go tohttp://www.zlk.com/pslra-d/recro-pharma-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

For more information on the Recro investigation (REPH investigation) Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


MFGP class action Levi & Korsinsky

Class Action News

MFGP Class Action Lawsuit Commences

Levi & Korsinsky Staff

May 31, 2018

To: All persons or entities who purchased or otherwise acquired securities of Micro Focus International plc (“Micro Focus “) (NYSE: MFGP) (1) between September 1, 2017 and March 19, 2018, and/or (2) pursuant to the August 4, 2017 Registration Statement or August 22, 2017 Prospectus. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information on the Micro Focus class action lawsuit (MFGP class action lawsuit) go to: http://www.zlk.com/pslra-d/micro-focus-international-plc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The complaint alleges that the Registration Statement and Prospectus filed for the Company’s Initial Public Offering contained materially false and misleading information and/or failed to disclose material information, and that Micro Focus made materially false and misleading statements and/or failed to disclose material information throughout the class period.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


PPG class action Levi & Korsinsky

Class Action News

PPG Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of PPG Industries, Inc. (“PPG”) (NYSE: PPG) between April 24, 2017 and May 10, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Central District of California. To get more information on the PPG class action lawsuit go to: http://www.zlk.com/pslra-d/ppg or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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RMTI class action investigation

Class Action News

RMTI Class Action Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Rockwell Medical, Inc. (“Rockwell” or “the Company”) (NASDAQGM: RMTI) concerning possible violations of federal securities laws. On May 22, 2018, Rockwell announced that its President and Chief Executive Officer, Robert Chioini, had been terminated. The following day, two Form 8-Ks were filed by the Company, the first of which denied the firing had occurred. The second 8-K stated that Chioini had been terminated, and that due to the filing of an unauthorized 8-K by Chioini and CFO Thomas Klema, the Board had voted to remove Klema from his roles at the Company. In a press release issued May 24, 2018, the Company stated that Chioini was terminated following “a thorough review of the business” and the determination that “Mr. Chioini lacked key attributes necessary to oversee the growth and long-term success of the Company…” To obtain additional information on the Rockwell class action investigation (RMTI class action investigation), go tohttp://www.zlk.com/pslra-d/rockwell-medical-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


Class Action Reports

FLR Class Action Report

Levi & Korsinsky Staff

On May 25, 2018, investors sued Fluor Corporation (“Fluor” or the “Company”) in United States District Court, Northern District of Texas. Plaintiffs in the federal securities class action allege that they acquired Fluor stock at artificially inflated prices between August 4, 2013, and May 3,2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Fluor class action lawsuit (FLR class action lawsuit):

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Class Action Reports

PPG Class Action Report

Levi & Korsinsky Staff

May 29, 2018

On May 20, 2018, investors sued PPG Industries, Inc. (“PPG” or the “Company”) in United States District Court, Central District of California. Plaintiffs in the federal securities class action allege that they acquired PPG stock at artificially inflated prices between April 24, 2017 and May 10, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the PPG class action lawsuit:

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Class Action News

FLR Class Action Lawsuit Filed by Levi & Korsinsky

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired common stock of Fluor Corporation (NYSE: FLR) between August 14, 2013 and May 3, 2018. You are hereby notified that Levi & Korsinsky has commenced the class action Chun v. Fluor Corporation (Case No. 3:18-cv-01338-S) in the USDC for the Northern District of Texas. To get more information on the Fluor class action lawsuit (FLR class action lawsuit) go tohttp://www.zlk.com/pslra-d/fluor-class-action or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Fluor class action lawsuit complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that (i) Fluor’s bidding process for projects related to the construction of gas-fired power generation facilities was flawed; (ii) Fluor had improperly estimated the gas-fire projects; (iii) as a result, Fluor would face craft productivity issues, equipment issues and other execution issues; (iv) Fluor would incur multiple charges impacting quarterly results; and (v) Fluor would ultimately decide to discontinue the pursuit of the gas-fired power market.

 

If you suffered a loss in Fluor you have until July 24, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

For more information on the Fluor lawsuit (FLR lawsuit), contact Levi & Korsinsky. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

 


PRTA class action Levi & Korsinsky

Class Action Reports

PRTA Class Action Report

Levi & Korsinsky Staff

May 23, 2018

On May 15, 2018, investors sued Prothena Corporation, Plc (“Prothena” or the “Company”) in United States District Court, Northern District of California San Francisco Division. Plaintiffs in the federal securities class action allege that they acquired Prothena stock at artificially inflated prices between October 15, 2015 and April 20, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Prothena class action lawsuit (PRTA class action lawsuit):

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Class Action Reports

KLIC Class Action Report

Levi & Korsinsky Staff

On May 11, 2018, investors sued Kulicke and Soffa Industries, Inc. (“Kulicke and Soffa” or the “Company”) in United States District Court, Central District of California. The federal securities class action alleges that plaintiffs acquired Kulicke and Soffa stock at artificially inflated prices between November 16, 2017 and May 10, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Kulicke and Soffa class action lawsuit (KLIC class action lawsuit):

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SYMC class action Levi & Korsinsky

Class Action Reports

SYMC Class Action Report

Levi & Korsinsky Staff

On May 17, 2018, investors sued Symantec Corporation (“Symantec” or the “Company”) in United States District Court, Northern District of California. Plaintiffs in the federal securities class action allege that they acquired Symantec stock at artificially inflated prices between May 20, 2017 and May 10, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Symantec class action lawsuit (SYMC class action lawsuit):

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KLIC class action Levi & Korsinsky

Class Action News

KLIC Class Action Lawsuit Commences

Levi & Korsinsky Staff

May 22, 2018

To: All persons or entities who purchased or otherwise acquired securities of Kulicke and Soffa Industries, Inc. (“Kulicke and Soffa”) (NASDAQ: KLIC) between November 16, 2017 and May 10, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Central District of California. To get more information on the Kulicke and Soffa class action lawsuit (KLIC class action lawsuit) go to: http://www.zlk.com/pslra-d/kulicke-and-soffa-industries-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Kulicke and Soffa lawsuit complaint (KLIC lawsuit complaint) alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Kulicke and Soffa Industries, Inc.’s consolidated financial statements for the fiscal year ending September 30, 2017 could no longer be relied upon due to misstated warranty accruals; and (2) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

 

On May 10, 2018, Kulicke and Soffa issued a press release disclosing it will not file its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission in a timely manner. The Company stated it had “learned of certain unauthorized transactions by a senior finance employee of the Company” and begun an investigation with the assistance of outside advisors. Kulicke and Soffa has also discovered “that certain warranty accruals in prior periods had been accounted for incorrectly and therefore misstated.”

 

If you suffered a loss in Kulicke and Soffa you have until July 10, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


LHO merger Levi & Korsinsky

Merger News

LHO Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased LaSalle Hotel Properties (“LaSalle” or the “Company”) (NYSE: LHO) stock prior to May 21, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the LaSalle merger. LaSalle will be sold to Blackstone Real Estate Partners VIII for $33.50 per share. To learn more about the LHO merger and your rights, go tohttp://www.zlk.com/mna/lasalle-hotel-properties or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of LaSalle breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Blackstone Real Estate Partners VIII is underpaying for LaSalle shares, thus unlawfully harming LaSalle shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


MBFI merger Levi & Korsinsky

Merger News

MBFI Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased MB Financial, Inc. (“MB Financial” or the “Company”) (NASDAQ: MBFI) stock prior to May 21, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the MB Financial merger. MB Financial will be sold to Fifth Third Bancorp. Under the terms of the transaction, MB Financial shareholders will receive 1.45 shares of Fifth Third stock and $5.54 in cash for each share of MB Financial stock they own. Based on the closing price of Fifth Third on May 18, 2018, this represents a value of approximately $54.20 per share. To learn more about the MBFI merger and your rights, go tohttp://www.zlk.com/mna/mb-financial-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The MB Financial investigation concerns whether the Board of MB Financial breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Fifth Third is underpaying for MB Financial shares, thus unlawfully harming MB Financial shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


ORA class action investigation, Levi & Korsinsky

Class Action News

ORA Class Action Investigation Commences

Levi & Korsinsky Staff

May 18, 2018

Levi & Korsinsky announces it has commenced an investigation of Ormat Technologies, Inc. (“Ormat” or “the Company”) (NYSE: ORA) concerning possible violations of federal securities laws. On May 11, 2018, Ormat filed a 10-Q disclosing the discovery of “an error in the Company’s financial statement presentation of deferred income tax liabilities” which would affect the Company’s balance sheets in previous periods. Then on May 16, 2018, Ormat announced that investors should no longer rely on its previously issued financial statements for the second, third and fourth quarter of 2017 and full-year 2017. To obtain additional information on the Ormat class action investigation (ORA class action investigation), go tohttp://www.zlk.com/pslra-d/ormat-technologies-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

For more information on the Ormat investigation (ORA investigation), contact Levi & Korsinsky. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


INWK class action Levi & Korsinsky

Class Action Reports

INWK Class Action Report

Levi & Korsinsky Staff

On May 10, 2018, investors sued InnerWorkings, Inc. (“InnerWorkings” or the “Company”) in United States District Court, Central District of California. Plaintiffs in the federal securities class action allege that they acquired InnerWorkings stock at artificially inflated prices between August 11, 2015, and May 7, 2018 (the “Class Period”).  They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the InnerWorkings class action lawsuit (INWK class action lawsuit):

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Flex class action Levi & Korsinsky

Class Action Reports

FLEX Class Action Report

Levi & Korsinsky Staff

On May 8, 2018, investors sued Flex Ltd. (“Flex” or the “Company”) in United States District Court, Northern District of California. Plaintiffs in the federal securities class action allege that they acquired Flex stock at artificially inflated prices between January 26, 2017 and April 26, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Flex class action lawsuit:

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Class Action News

INWK Class Action Lawsuit Commences

Levi & Korsinsky Staff

May 17, 2018

To: All persons or entities who purchased or otherwise acquired securities of InnerWorkings, Inc. (“InnerWorkings”) (NASDAQ: INWK) between August 11, 2015 and May 7, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Central District of California. To get more information on the InnerWorkings class action lawsuit (INWK class action lawsuit) go to: http://www.zlk.com/pslra-d/innerworkings-investigation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The InnerWorkings class action lawsuit complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) InnerWorkings’ financial statements for the fiscal years ending December 31, 2015, 2016, and 2017, as well as all interim periods, contained errors that required restating; and (ii) as a result, InnerWorkings’ public statements were materially false and misleading at all relevant times. On May 7, 2018, InnerWorkings issued a Form 8-K announcing non-reliance on previous financial statements for 2015, 2016, and 2017. The Company also announced it would postpone the release of its first quarter 2018 financial result and conference call due to the errors in its historical financial statements.

 

If you suffered a loss in InnerWorkings you have until July 9, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


PRTA class action investigaiton Levi & Korsinsky

Class Action News

PRTA Class Action Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Prothena Corporation (“Prothena” or “the Company”) (NASDAQGS: PRTA) concerning possible violations of federal securities laws. On October 15, 2015, Prothena announced its late-stage Phase 2b “PRONTO” study and expansion of its Phase 1/2 clinical trial for the antibody NEOD001. On April 23, 2018, Prothena announced it was ending development of NEOD001 after its Phase 2b PRONTO trial failed to reach either its primary or secondary endpoints. Following this news, shares of Prothena fell from a close of $36.84 on April 20, 2018, to a close of $11.50 per share on April 23, 2018. To obtain additional information on the Prothena class action investigation (PRTA class action investigation), go tohttp://www.zlk.com/pslra-d/prothena-corporation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

For more information on the Prothena investigation (PRTA investigation), contact Levi & Korsinsky. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


WPZ merger Levi & Korsinsky

Merger News

WPZ Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased Williams Partners L.P. (“Williams Partners” or the “Company”) (NYSE: WPZ) stock prior to May 17, 2018. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Williams merger. Williams Partners will be sold to Williams (NYSE: WMB). Under the terms of the transaction, Williams Partners shareholders will receive 1.494 common shares of Williams for each Williams Partners public unit they own. The transaction is valued at $10.5 billion. To learn more about the WPZ merger and your rights, go tohttp://www.zlk.com/mna/williams-partners-l-p or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The Williams investigation concerns whether the Board of Williams Partners breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Williams is underpaying for Williams Partners shares, thus unlawfully harming Williams Partners shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


ESPR class action Levi & Korsinsky

Class Action News

ESPR Class Action Lawsuit Commences

Levi & Korsinsky Staff

May 16, 2018

To: All persons or entities who purchased or otherwise acquired securities of Esperion Therapeutics, Inc. (“Esperion”) (NASDAQ: ESPR) between February 22, 2017 and May 1, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Eastern District of Michigan. To get more information on the Esperion class action lawsuit (ESPR class action lawsuit), go to: http://www.zlk.com/pslra-d/esperion-therapeutics or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Esperion’s cholesterol-lowering medication, bempedoic acid, entailed serious undisclosed safety risks, including death; and (ii) as a result of the foregoing, Esperion’s public statements were materially false and misleading at all relevant times. On May 2, 2018, Esperion announced results from its second Phase 3 study for its cholesterol-lowering medication bempedoic acid. Esperion reported that while the trial met the primary endpoint of safety and tolerability and the key efficacy endpoint, there were 13 deaths in the treatment group compared to only two in the control group. On this news, Esperion’s share price fell from a close of $70.50 per share on May 1, 2018, to a close of $45.75 per share the following day.

 

If you suffered a loss in Esperion you have until July 6, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

For more information on the Esperion lawsuit (ESPR lawsuit), contact levi & Korsinsky. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


Paragon Coin lead counsel Levi & Korsinsky

Class Action News

Levi & Korsinsky appointed Lead Counsel in Class Action Against Paragon Coin, Inc.

Levi & Korsinsky Staff

On May 10, 2018, United States District Court Judge Jeffrey S. White appointed Levi & Korsinsky, LLP to serve as Lead Counsel in the Paragon Coin class action lawsuit, entitled Davy v. Paragon Coin, Inc., et al. 4:18-cv-00671-JSW (N.D. Cal.). The Paragon Coin class action alleges that Paragon Coin, a cryptocurrency startup, violated securities laws by not registering its initial coin offering with the U.S. Securities and Exchange Commission. The firm looks forward to representing those investors alleged to have been harmed by this conduct and achieving a positive result in this lawsuit on their behalf.
Levi & Korsinsky has been at the forefront of cryptocurrency-related securities litigation, including representing shareholders who suffered losses as a result of securities laws violations related to initial coin offerings and the issuance of unregistered securities, as well the issuance of misleading information to investors. On April 11, 2018 the firm was appointed Co-Lead in Rensel v. Centra Tech, Inc., 17-cv-24500-JLK (S.D. Fla. Apr. 11, 2018), representing investors allegedly misled by certain assertions made by Centra Tech and spokespersons hired by the company.
For more information about the Paragon Coin lawsuit, please contact Levi & Korsinsky attorneys Eduard Korsinsky, Rosemary M. Rivas, Donald J. Enright and John A. Carriel.

ABAX class action investigation Levi & Korsinsky

Class Action News

ABAX Class Action Investigation Commences

Levi & Korsinsky Staff

To: All Persons or Entities who purchased Abaxis, Inc. (“Abaxis” or the “Company”) (NASDAQ: ABAX) stock prior to May 16, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Abaxis to Zoetis Inc. (NYSE: ZTS) for $83 per share. To learn more about the Abaxis class action investigation and your rights, go tohttp://www.zlk.com/mna/abaxis-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of Abaxis breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Zoetis Inc. is underpaying for Abaxis shares, thus unlawfully harming Abaxis shareholders.

Fro more information on the ABAX class action investigation, contact Levi & Korsinsky. Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


FLEX class action Levi & Korsinsky

Class Action News

FLEX Class Action Commences

Levi & Korsinsky Staff

May 15, 2018

To: All persons or entities who purchased or otherwise acquired securities of Flex Ltd. (“Flex”) (NASDAQ: FLEX) between January 26, 2017 and April 26, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information on the Flex class action lawsuit, go to: http://www.zlk.com/pslra-d/flex-ltd-2 or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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MOH class action Levi & Korsinsky

Class Action News

MOH Class Action Lawsuit Commences

Levi & Korsinsky Staff

May 14, 2018

To: All persons or entities who purchased or otherwise acquired securities of Molina Healthcare, Inc. (“Molina Healthcare, Inc.”) (NYSE: MOH) between October 31, 2014 and August 2, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Central District of California. To get more information on the Molina class action lawsuit, go to: http://www.zlk.com/pslra-d/molina-healthcare-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

(more…)


Class Action Reports

QNST Class Action Report

Levi & Korsinsky Staff

On April 27, 2018, investors sued QuinStreet, Incorporated (“QuinStreet” or the “Company”) in United States District Court, Northern District of California. Plaintiffs in the federal securities class action allege that they acquired QuinStreet stock at artificially inflated prices between February 10, 2016 and April 10, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the QuinStreet class action lawsuit (QNST class action lawsuit): (more…)


Class Action Reports

LC Class Action Report

Levi & Korsinsky Staff

On May 2, 2018, investors sued LendingClub Corporation (“LendingClub” or the “Company”) in United States District Court, Northern District of California. The federal securities class action alleges that plaintiffs acquired LendingClub stock at artificially inflated prices between February 28, 2015 and April 25, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the LendingClub class action lawsuit (LC class action lawsuit):

(more…)


ESPR class action Levi & Korsinsky

Class Action Reports

ESPR Class Action Report

Levi & Korsinsky Staff

On May 7, 2018, investors sued Esperion Therapeutics, Inc. (“Esperion” or the “Company”) in United States District Court, Eastern District of Michigan. Plaintiffs in the federal securities class action allege that they acquired Esperion stock at artificially inflated prices between February 22, 2017 and May 1, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Esperion class action lawsuit (ESPR class action lawsuit):

(more…)


PPG class action investigation Levi & Korsinsky

Class Action News

PPG Class Action Investigation Commences

Levi & Korsinsky Staff

May 11, 2018

Levi & Korsinsky announces it has commenced an investigation of PPG Industries, Inc. (“PPG” or “the Company”) (NYSE: PPG) concerning possible violations of federal securities laws. On April 19, 2018, PPG issued a press release disclosing it had received a report concerning possible violations of its accounting policies and the identification of approximately $1.4 million of expenses that should have been accrued in the first quarter. Then on May 10, 2018, PPG announced that certain previously issued financial statements could no longer be relied upon. As part of the investigation, the Company also determined that “certain improper accounting entries were made by certain employees at the direction of the Company’s former vice president and controller,” whose employment was terminated. To obtain additional information on the PPG class action investigation, go tohttp://www.zlk.com/pslra-d/ppg-investigation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

For more information on the PPG investigation, contact Levi & Korsinsky. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


FLR class action investigation Levi & Korsinsky

Class Action News

FLR Class Action Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Fluor Corporation (“Fluor” or “the Company”) (NYSE: FLR) concerning possible violations of federal securities laws. On May 3, 2018, Fluor issued a press release announcing its first quarter 2018 financial results, disclosing an after-tax charge of approximately $96 million for forecast revision on a gas-fired power project. The Company revised its 2018 guidance for Earnings Per Share to a range of $2.10 to $2.50 per diluted share. Following this news, shares of Fluor fell more than 22% to close at $45.76 per share on May 4, 2018. To obtain additional information on the Fluor class action investigation (FLR class action investigation), go tohttp://www.zlk.com/pslra-d/fluor-investigation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


UNM class action investigation Levi & Korsinsky

Class Action News

UNM Class Action Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Unum Group (“Unum” or “the Company”) (NYSE: UNM) concerning possible violations of federal securities laws. On May 1, 2018, Unum issued a press release announcing its first quarter 2018 financial results, disclosing that “The interest adjusted loss ratio for the long-term care line of business was 96.6 percent in the first quarter of 2018, compared to the 88.6 percent in the first quarter of 2017, due primarily to higher claims incidence.” To obtain additional information on the Unum class action investigation (UNM class action investigation), go tohttp://www.zlk.com/pslra-d/unum-group or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


SYMC class action investigation Levi & Korsinsky

Class Action News

SYMC Class Action Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Symantec Corp. (“Symantec” or “the Company”) (NASDAQGS: SYMC) concerning possible violations of federal securities laws. On May 10, 2018, Symantec announced the commencement of an internal investigation “in connection with concerns raised by a former employee.” Following this news, shares of Symantec were down more than 19% during extended hours trading. To obtain additional information on the Symantec class action investigation (SYMC class action investigation), go tohttp://www.zlk.com/pslra-d/symantec-corp or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

For more information on the Symantec investigation (SYMC investigation), contact Levi & Korsinsky. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


KLIC class action investigation Levi & Korsinsky

Class Action News

KLIC Class Action Lawsuit Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Kulicke and Soffa Industries, Inc. (“Kulicke and Soffa” or “the Company”) (NASDAQGS: KLIC) concerning possible violations of federal securities laws. On May 10, 2018, Kulicke and Soffa issued a press release disclosing it will not file its Quarterly Report on Form 10-Q with the U.S. Securities and Exchange Commission in a timely manner. The Company stated it had “learned of certain unauthorized transactions by a senior finance employee of the Company” and has begun an investigation with the assistance of outside advisors. Kulicke and Soffa has also discovered “that certain warranty accruals in prior periods had been accounted for incorrectly and therefore misstated.” To obtain additional information on the Kulicke and Soffa class action investigation (KLIC class action investigation), go tohttp://www.zlk.com/pslra-d/kulicke-and-soffa-industries-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


Class Action News

LC Class Action Lawsuit Commences

Levi & Korsinsky Staff

May 10, 2018

To: All persons or entities who purchased or otherwise acquired securities of LendingClub Corporation (“LendingClub”) (NYSE: LC) between February 28, 2015 and April 25, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information on the LendingClub class action lawsuit, (LC class action lawsuit) go to: http://www.zlk.com/pslra-d/lendingclub-lc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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ARMO merger Levi & Korsinsky

Merger News

ARMO Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased ARMO BioSciences, Inc. (“ARMO” or the “Company”) (NASDAQGS: ARMO) stock prior to May 10, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the ARMO merger. ARMO will merge with Eli Lilly and Company (NYSE: LLY) for $50 per share. To learn more about the ARMO investigation and your rights, go tohttp://www.zlk.com/mna/armo-biosciences-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of ARMO breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Eli Lilly and Company is underpaying for ARMO shares, thus unlawfully harming ARMO shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


MTGE merger Levi & Korsinsky

Merger News

MTGE Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased MTGE Investment Corp. (“MTGE” or the “Company”) (NASDAQGS: MTGE) stock prior to May 2, 2018.

You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the MTGE merger with Annaly Capital Management Inc. (NYSE: NLY). Under the terms of the transaction, MTGE shareholders may elect to receive, per share: (a) $9.82 in cash and 0.9519 shares of Annaly common stock; (b) $19.65 in cash; or (c) 1.9037 shares of Annaly common stock. To learn more about the MTGE investigation and your rights, go tohttp://www.zlk.com/mna/mtge-investment-corp or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of MTGE breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Annaly Capital Management is underpaying for MTGE shares, thus unlawfully harming MTGE shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


Shire merger Levi & Korsinsky

Merger News

SHPG Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased Shire plc (“Shire” or the “Company”) (NASDAQGS: SHPG) stock prior to May 8, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Shire merger. Shire will be sold to Takeda Pharmaceutical Company Limited. Under the terms of the transaction, Shire shareholders will receive $30.33 in cash and either 0.839 Takeda shares or 1.678 Takeda American Depositary Shares for each share of Shire they own. To learn more about the SHPG merger and your rights, go tohttp://www.zlk.com/mna/shire-plc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of Shire breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Takeda Pharmaceutical Company Limited is underpaying for Shire shares, thus unlawfully harming Shire shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


GSAT merger Levi & Korsinsky

Merger News

GSAT Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased Globalstar, Inc. (“Globalstar” or the “Company”) (NYSE American: GSAT) stock prior to April 25, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Globalstar merger agreement with Thermo Acquisitions, Inc. Pursuant to the terms, the following assets will be combined with Globalstar: FiberLight, LLC, 15.5 million shares of common stock of CenturyLink, Inc., $100 million of cash and minority investments in complementary businesses and assets of $25 million. To learn more about the GSAT merger and your rights, go tohttp://www.zlkdocs.com/GSAT-Info-Request-Form-ma-6690 or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of Globalstar breached their fiduciary duties to stockholders and/or violated securities laws by failing to adequately value the business combination and/or failing to disclose all material information in connection with the business combination.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


MITL merger Levi & Korsinsky

Merger News

MITL Merger Investigation

Levi & Korsinsky Staff

You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Mitel merger. Mitel Networks wil be sold to a group of investors led by affiliates of Searchlight Capital Partners, L.P. Under the terms of the transaction, Mitel shareholders will receive $11.15 per share. To learn more about the MITL merger and your rights, go tohttp://www.zlk.com/mna/mitel-networks-corporation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of Mitel Networks breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether the consortium is underpaying for Mitel Networks shares, thus unlawfully harming Mitel Networks shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


Merger News

RPXC Merger Investigation

Levi & Korsinsky Staff

May 9, 2018

To: All Persons or Entities who purchased RPX Corporation (“RPX” or the “Company”) (NASDAQGS: RPXC) stock prior to May 1, 2018You are hereby notified that Levi & Korsinsky has commenced an investigation into the fairness of the RPX merger. RPX will merge with HGGC for $10.50 per share. To learn more about the RPX merger and your rights, go tohttp://www.zlk.com/mna/rpx-corporation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The investigation concerns whether the Board of RPX breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether HGGC is underpaying for RPX shares, thus unlawfully harming RPX shareholders. In particular, at least one analyst set a price target of $16.00 per share.

 

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


GPT merger Levi & Korsinsky

Merger News

GPT Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased Gramercy Property Trust (“Gramercy Property” or the “Company”) (NYSE: GPT) stock prior to May 7, 2018. Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Gramercy Property merger. Gramercy Property will merge with Blackstone Real Estate Partners VIII for $27.50 per share. To learn more about the GPT merger and your rights, go tohttp://www.zlk.com/mna/gramercy-property-trust or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The investigation concerns whether the Board of Gramercy Property breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Blackstone Real Estate Partners VIII is underpaying for Gramercy Property shares, thus unlawfully harming Gramercy Property shareholders.

 

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


KLXI merger Levi & Korsinsky

Merger News

KLXI Merger Investigation

Levi & Korsinsky Staff

To: All Persons or Entities who purchased KLX Inc. (“KLX” or the “Company”) (NASDAQGS: KLXI) stock prior to May 1, 2018. Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of KLX’s Aerospace Solutions Group to The Boeing Company for $63.00 per share. The KLX merger is conditioned upon the divestment and separation of KLX’s Energy Services Group. To learn more about the KLXI merger and your rights, go tohttp://www.zlk.com/mna/klx-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The investigation concerns whether the Board of KLX breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Boeing is underpaying for KLX shares, thus unlawfully harming KLX shareholders.

Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.


Aceto class action Levi & Korsinsky

Class Action Reports

ACET Class Action Report

Levi & Korsinsky Staff

May 8, 2018

On April 25, 2018, investors sued Aceto Corporation (“Aceto” or the “Company”) in United States District Court, Eastern District of New York. Plaintiffs in the federal securities class action allege that they acquired Aceto stock at artificially inflated prices between February 1, 2018 and April 18, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Aceto class action lawsuit (ACET class action lawsuit):

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Gridsum class action Levi & Korsinsky

Class Action Reports

GSUM Class Action Report

Levi & Korsinsky Staff

On April 25, 2018, investors sued Gridsum Holding, Inc. (“Gridsum” or the “Company”) in United States District Court, Southern District of New York. Plaintiffs in the federal securities class action allege that they acquired Gridsum American Depository Receipts (ADRs) at artificially inflated prices between April 27, 2017, and April 20, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Gridsum class action lawsuit (GSUM class action lawsuit):

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Allegiant class action Levi & Korsinsky

Class Action Reports

ALGT Class Action Report

Levi & Korsinsky Staff

On April 24, 2018, investors sued Allegiant Travel Company (“Allegiant” or the “Company”) in United States District Court, Central District of California. Plaintiffs in the federal securities class action allege that they acquired Allegiant stock at artificially inflated pries between June 8, 2015 and April 13, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the ALGT class action lawsuit:

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Macquarie class action Levi & Korsinsky

Class Action Reports

MIC Class Action Report

Levi & Korsinsky Staff

On April 23, 2018, investors sued Macquarie Infrastructure Corporation (“Macquarie” or the “Company”) in United States District Court, Southern District of New York. The federal securities class action alleges that plaintiffs acquired Macquarie stock at artificially inflated prices between February 22, 2016 and February 21, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Macquarie class action lawsuit (MIC class action lawsuit):

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GSUM class action Levi & Korsinsky

Class Action News

GSUM Class Action Lawsuit Commences

Levi & Korsinsky Staff

May 4, 2018

To: All persons or entities who purchased or otherwise acquired securities of Gridsum Holding Inc. (“Gridsum”) (NASDAQ: GSUM). You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information on the Gridsum class action lawsuit (GSUM class action lawsuit) go to: http://www.zlk.com/pslra-d/gridsum-holding-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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Rosemary M. Rivas Levi & Korsinsky

Class Action News

Levi & Korsinsky Partner Receives CLAY Award

Levi & Korsinsky Staff

May 2, 2018

Levi & Korsinsky, LLP Partner Rosemary M. Rivas  honored on March 20, 2018 by the California Daily Journal with a California Lawyer Attorney of the Year (CLAY) Award based on her work in In re: Volkswagen “Clean Diesel” MDL, which resulted in unprecedented settlements exceeding $14 billion dollars.  The CLAY awards are given annually to outstanding California practitioners “whose extraordinary work and cases had a major impact on the law.”

The Daily Journal wrote that the Volkswagen litigation “involved a world-renowned auto company mired in scandal, a third-party technology company that helped orchestrate one of the largest regulation-evading fraud schemes in history, and thousands of consumers and car dealerships stuck with defective vehicles they could not drive without violating the law.” More than 95 percent of Class members participated in the buyback/repair programs as a result of the case and more than $9 billion in payments have been made.

Congratulations to Rosemary M. Rivas for her outstanding work on the Volkswagen litigation.


MIC class action Levi & Korsinsky

Class Action News

MIC Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Macquarie Infrastructure Corporation (“Macquarie”) (NYSE: MIC) between February 22, 2016 and February 21, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information on the Macquarie class action lawsuit (MIC class action lawsuit) go to: http://www.zlk.com/pslra-d/macquarie-infrastructure-corporation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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EDGE class action lawsuit Levi & Korsinsky

Class Action News

EDGE Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Edge Therapeutics, Inc. (“Edge Therapeutics”) (NASDAQ: EDGE) between December 29, 2017 and March 27, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the District of New Jersey. To get more information on the Edge Therapeutics class action (EDGE class action lawsuit), go to: http://www.zlk.com/pslra-d/edge-therapeutics-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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SPB class action investigation Levi & Korsinsky

Class Action News

SPB Class Action Investigation Commences

Levi & Korsinsky Staff

May 1, 2018

Levi & Korsinsky announces it has commenced an investigation of Spectrum Brands Holdings, Inc. (“Spectrum” or “the Company”) (NYSE: SPB) concerning possible violations of federal securities laws. On April 26, 2018, Spectrum issued a press release disclosing disappointing second quarter 2018 results, and that the Company had lowered its fiscal year 2018 adjusted EBITDA guidance from $657-$674 million to $600-$617. In the same release, Spectrum announced that Executive Chairman David M. Maura was named Chief Executive Officer, effective immediately. Maura stated that the Company faced “challenges related to our two greenfield manufacturing and distribution projects.” To obtain additional information on the Spectrum class action investigation (SPB class action investigation), go tohttp://www.zlk.com/pslra-d/spectrum-brands-holdings-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

For more information on the Spectrum investigation (SPB investigation), contact Levi & Korsinsky. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


Flex class action investigation Levi & Korsinsky

Class Action News

Flex Class Action Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Flex Ltd. (“Flex” or “the Company”) (NASDAQGS: FLEX) concerning possible violations of federal securities laws. On April 26, 2018, Flex issued a press release disclosing allegations by a former employee that the Company “improperly accounted for obligations in a customer contract and certain related reserves.” The Company further announced that its Audit Committee was undertaking an investigation of the matter “with the assistance of independent outside counsel.” To obtain additional information on the Flex class action investigation, go tohttp://www.zlk.com/pslra-d/flex-ltd or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

For more information on the Flex investigation, contact Levi & Korsinsky. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


LYV class action Levi & Korsinsky

Class Action News

LYV Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Live Nation Entertainment, Inc. (“Live Nation”) (NYSE: LYV) between February 23, 2017 and March 30, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Central District of California. To get more information on the Live Nation class action lawsuit (LYV class action lawsuit), go to: http://www.zlk.com/pslra-d/live-nation-class-action or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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Switch class action investigation Levi & Korsinsky

Class Action News

SWCH Class Action Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Switch, Inc. (“Switch” or “the Company”) (NYSE: SWCH) concerning possible violations of federal securities laws. The investigation concerns whether the Company’s filings with the U.S. Securities and Exchange Commission in connection with its October 2017 initial public offering (the “IPO”) contained untrue statements of material facts or omitted material information. To obtain additional information on the Switch class action investigation (SWCH class action investigation), go tohttp://www.zlk.com/pslra-d/switch-investigation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

For more information on the Switch investigation (SWCH investigation), contact Levi & Korsinsky. Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


Class Action News

ALGT Class Action Lawsuit Commences

Levi & Korsinsky Staff

April 30, 2018

To: All persons or entities who purchased or otherwise acquired securities of Allegiant Travel Company (“Allegiant”) (NASDAQ: ALGT) between June 8, 2015 and April 13, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Central District of California. To get more information on the Allegiant class action lawsuit (ALGT class action lawsuit), go to: http://www.zlk.com/pslra-d/allegiant-travel-company or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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MYGN class action lawsuit Levi & Korsinsky

Class Action News

MYGN Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Myriad Genetics, Inc. (“Myriad”) (NASDAQ: MYGN) between August 13, 2014 and March 12, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the District of Utah. To get more information on the Myriad Genetics class action lawsuit (MYGN class action lawsuit), go to: http://www.zlk.com/pslra-d/myriad-genetics-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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SCAS 50 2017 Levi & Korsinsky

Class Action News

Levi & Korsinsky Named in the SCAS 50 2017

Levi & Korsinsky Staff

April 26, 2018

Levi & Korsinsky is proud to once again be named in the ISS Securities Class Action Services (SCAS) Top 50 report for the year 2017, creating millions of dollars in value for our clients nationwide and continuing its long history of obtaining precedent setting decisions. The SCAS 50 lists the top 50 plaintiffs’ law firms ranked by the total dollar value of final securities class action settlements occurring in 2017 in which the law firm served as lead or co-lead counsel.

 

Per the report: “For calendar 2017, ISS Securities Class Action Services LLC (“SCAS”) recorded 162 approved securities class action settlements within North America. Collectively, 2017 delivered $2.1 billion in settlement funds for distribution, a marked decrease from the $7 billion recovered in 2016 and the lowest yearly total since the early 2000’s. However, new cases filed in 2017 were significantly higher than the previous year. Underscoring the year-over-year ebb and flow in the value of North American class action settlements, a sizeable $3.5 billion in settlement funds has thus far been announced in 2018. In fact, one U.S. settlement announced in early 2018, Petrobras, ranks among the top five securities class action recoveries of all time.

 

Of the 162 settlements tracked by SCAS in 2017, 113 cases had results with monetary shareholder recoveries. The SCAS Top 50 analysis shows just one plaintiffs’ law firm surpassed the $500 million threshold, while 11 law firms surpassed the $100 million mark. Of the 113 approved settlements, 76 settlements were alleged violations of Rule 10b-5 of the Securities and Exchange Act of 1934 (Employment of Manipulative and Deceptive Practices) and 31 settlements were alleged violations of the Securities Act of 1933 (Civil Liabilities on Account of False Registration Statement). In addition, a total of 35 cases pertain to Initial Public Offering (IPO) and Public Offering actions, while 13 relate to violation of Generally Accepted Accounting Principles (GAAP). Finally, Merger and Acquisition (M&A) and Insider Trading (IT) show a total of 12 and four settlements, respectively. To be clear, securities class action cases, and settlements, can have multiple allegations and thus these totals surpass the total number of approved settlements.”

Click Here to view the SCAS’ Top 50 for 2017.


Class Action Reports

MYGM Class Action Lawsuit Litigation Report

Levi & Korsinsky Staff

On April 20, 2018, a securities class action lawsuit was brought against Myriad Genetics, Inc. (“Myriad” or the “Company”) in United States District Court, District of Utah. Investors in the federal securities class action allege that they acquired Myriad stock at artificially inflated prices between August 13, 2014 and March 12, 2018 (the “Class Period”). They are seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s what you need to know about the Myriad Genetics class action lawsuit (MYGM class action):

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Class Action Reports

Live Nation Class Action Lawsuit Litigation Report

Levi & Korsinsky Staff

On April 18, 2018, investors brought a securities class action lawsuit against Live Nation Entertainment, Inc. (“Live Nation” or the “Company”) in United States District Court, Central District of California. Plaintiffs in the federal securities class action allege that they acquired Live Nation stock at artificially inflated prices between February 23, 2017 and March 30, 2018 (the “Class Period”). They are now seeking compensation incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s what we know about the Live Nation class action lawsuit (LYV class action):

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Mercury Systems class action investigation Levi & Korsinsky

Class Action News

Mercury Systems Class Action Investigation Commences

Levi & Korsinsky Staff

April 25, 2018

Levi & Korsinsky announces it has commenced an investigation of Mercury Systems, Inc. (“Mercury Systems” or “the Company”) (NASDAQGS: MRCY) concerning possible violations of federal securities laws. On April 24, 2018, after the market closed, Mercury Systems released its Q3 2018 financial results. The next day, Mercury Systems shares were down more than 9% on intraday trading. To obtain additional information on the Mercury Systems class action investigation, contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


Aceto class action Levi & Korsinsky

Class Action News

Aceto Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired common stock of Aceto Corporation (NASDAQGS: ACET) between August 25, 2017 and April 18, 2018. You are hereby notified that Levi & Korsinsky has commenced the class action Mulligan v. Aceto Corporation (Case No. 9:18-cv-02425) in the USDC for the Eastern District of New York. To get more information on the Aceto class action go tohttp://www.zlk.com/pslra-d/aceto-corporation or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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Edge Therapeutics class action investigation Levi & Korsinsky

Class Action News

Edge Therapeutics Class Action Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Edge Therapeutics, Inc. (“Edge Therapeutics” or “the Company”) (NASDAQGS: EDGE) concerning possible violations of federal securities laws. On March 28, 2018, Edge Therapeutics disclosed “that a pre-specified interim analysis on data from the Day 90 visit of the first 210 subjects randomized and treated in the Phase 3 NEWTON 2 study of EG-1962 demonstrated a low probability of achieving a statistically-significant difference compared to the standard of care in the study’s primary endpoint, if the study is fully enrolled.” As a result, the Data Monitoring Committee “recommended that the study be stopped based on its conclusion that the study has a low probability of meeting its primary endpoint.” Based on the DMC recommendation, Edge Therapeutics decided to discontinue the Phase 3 NEWTON 2 study. Upon this news, shares of Edge Therapeutics fell from a close of $15.59 on March 27, 2018, to a close of $1.31 per share on March 28, 2018. To obtain additional information on the Edge Therapeutics class action investigation, contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


Macquarie class action investigation Levi & Korsinsky

Class Action News

Macquarie Class Action Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Macquarie Infrastructure Corporation (“Macquarie” or “the Company”) (NYSE: MIC) concerning possible violations of federal securities laws. On February 21, 2018, Macquarie announced it would slash its dividend and that it had lost International-Matex Tank Terminals (“IMTT”) contracts. During a conference call on February 22, 2018, CEO Christopher Frost said “a number of customers terminated contracts for a significant amount of 6 oil capacity at IMTT’s facility in St. Rose. Not only did they terminate those contracts, in some cases, they shut down their operations and exited the industry. Many of these firms have been long term customers of IMTT.”  Shares of Macquarie fell from a close of $63.62 on February 21, 2018, to a close of $37.41 on February 22, 2018. To obtain additional information on the Macquarie class action investigation, contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

 


Gridsum class action Levi & Korsinsky

Class Action News

Gridsum Class Action Investigation Commences

Levi & Korsinsky Staff

April 23, 2018

Levi & Korsinsky announces it has commenced an investigation of Gridsum Holding Inc. (“Gridsum” or “the Company”) (NASDAQGS: GSUM) concerning possible violations of federal securities laws. On April 23, 2018, Gridsum filed a press release announcing its audit report for the Company’s financial statements for the year ended December 31, 2016 should no longer be relied upon. According to the release, the Company’s auditor had determined the presence of “certain issues” relating to “revenue recognition, cash flow, cost, expense items, and their underlying documentation.” Upon this news, shares of Gridsum were down more than 41% on intraday trading on April 23, 2018. To obtain additional information on the Gridsum class action investigation, contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


Class Action Reports

Colony Northstar Class Action Report

Levi & Korsinsky Staff

April 20, 2018

On April 6, 2018, investors sued Colony NorthStar, Inc. (“Colony NorthStar” or the “Company”) in United States District Court, Central District of California. Plaintiffs in the federal securities class action allege that they acquired Colony NorthStar stock at artificially inflated prices between February 28, 2017 and March 1, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Colony Northstar class action lawsuit:

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Ericsson class action Levi & Korsinsky

Class Action Reports

Ericsson Class Action Report

Levi & Korsinsky Staff

On April 5, 2018, investors sued Telefonaktiebolaget LM Ericsson (“Ericsson” or the “Company” in United States District Court, Southern District of New York. Plaintiffs in the federal securities class action allege that they acquired Ericsson’s American Depository Shares (“ADS”) at artificially inflated prices between April 8, 2013 and July 17, 2017 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Ericsson class action lawsuit:

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Aceto class action investigation Levi & Korsinsky

Class Action News

Aceto Class Action Investigation Commences

Levi & Korsinsky Staff

April 19, 2018

Levi & Korsinsky announces it has commenced an investigation of Aceto Corporation (“Aceto” or “the Company”) (NASDAQGS: ACET) concerning possible violations of federal securities laws. On April 18, 2018, Aceto issued a press release announcing that “the financial guidance issued on February 1, 2018, should no longer be relied upon.” The Company also announced that it anticipates recording “non-cash intangible asset impairment charges, including goodwill, in the range of $230 million to $260 million on certain currently marketed and pipeline generic products as a result of continued intense competitive and pricing pressures.” Following this news, shares of Aceto were down more than 63% on intraday trading on April 19, 2018. To obtain additional information on the Aceto class action investigation, contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


Class Action Reports

Synacor Class Action Report

Levi & Korsinsky Staff

On April 4, 2018, investors sued Synacor, Inc. (“Synacor” or the “Company”) in United States District Court, Southern District of New York. Plaintiffs in the federal securities class action allege that they acquired Synacor stock at artificially inflated prices between May 4, 2016, and March 15, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Synacor class action lawsuit:

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IZEA class action Levi & Korsinsky

Class Action Reports

IZEA Class Action Report

Levi & Korsinsky Staff

On April 4, 2018, investors sued IZEA, Inc. (“IZEA” or the “Company”) in United States District Court, Central District of California. The federal securities class action alleges that plaintiffs acquired IZEA stock at artificially inflated prices between May 15, 2015 and April 3, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the IZEA class action lawsuit:

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Class Action Reports

TrueCar Class Action Report

Levi & Korsinsky Staff

On March 30, 2018, investors sued TrueCar, Inc. (“TrueCar” or the “Company”) in United States District Court, Central District of California. Plaintiffs in the federal securities class action allege that they acquired TrueCar stock at artificially inflated prices between February 16, 2017, and November 6, 2017 (the “Class Period”). They are now seeking compensation for financial losses revealed upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the TrueCar class action lawsuit:

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Longfin class action Levi & Korsinsky

Class Action Reports

Longfin Class Action Report

Levi & Korsinsky Staff

On April 4, 2018, investors sued Longfin Corp. (“Longfin” or the “Company”) in United States District Court, Eastern District of New York. The federal securities class action alleges that plaintiffs acquired Longfin stock at artificially inflated prices between December 13, 2017 and April 2, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything you need to know about the Longfin class action lawsuit:

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Solid Biosciences class action Levi & Korsinsky

Class Action Reports

Solid Biosciences Class Action Report

Levi & Korsinsky Staff

On March 27, 2018, investors sued Solid Biosciences, Inc., (“Solid Biosciences” or the “Company”) in United States District Court, District of Massachusetts. Plaintiffs in the federal securities class action allege that their acquisition of Solid Biosciences stock at artificially inflated prices was based on inaccurate information in the Company’s registration statement and prospectus (collectively the “Registration Statement”) issued in connection with the initial public offering (“IPO” or “Offering”) made on January 25, 2018; and/or that they acquired the Company’s stock at artificially inflated pries between January 25, 2018 and March 14, 2018 (the “Class Period”). Here’s what you need to know about the Solid Biosciences class action lawsuit:

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Shanda Games class action Levi & Korsinsky

Class Action Reports

Shanda Games Class Action Report

Levi & Korsinsky Staff

On March 19, 2018, investors sued Shanda Games, Limited (“Shanda” or the “Company”) in United States District Court, Southern District of New York. Plaintiffs in the federal securities class action allege that they held or sold Shanda stock or American Depository Shares (“ADS”) at artificially deflated prices between May 5, 2015 and November 18, 2015 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s what you need to need to know about the Shanda Games class action lawsuit:

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Overstock.com class action Levi & Korsinky

Class Action News

Overstock.com Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Overstock.com, Inc. (“Overstock”) (NASDAQ: OSTK) between August 3, 2017 and March 26, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the District of Utah. To get more information on the Overstock.com class action lawsuit go to: http://www.zlk.com/pslra-d/overstock-com-inc, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

(more…)


Synacor class action Levi & Korsinky

Class Action News

Synacor Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Synacor, Inc. (“Synacor”) (NASDAQ: SYNC) between May 4, 2016 and March 15, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of New York. To get more information on the Synacor class action lawsuit go to: http://www.zlk.com/pslra-d/synacor-inc, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

(more…)


Colony Northstar class action Levi & Korsinsky

Class Action News

Colony Northstar Class Action Lawsuit Commences

Levi & Korsinsky Staff

April 18, 2018

To: All persons or entities who purchased or otherwise acquired securities of Colony NorthStar, Inc. (“Colony NorthStar”) (NYSE: CLNS) between February 28, 2017 and March 1, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Central District of California. To get more information on the Colony Northstar class action lawsuit go to: http://www.zlk.com/pslra-d/colony-northstar-inc, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

(more…)


Ericsson class action lawsuit Levi & Korsinsky

Class Action News

Ericsson Class Action Lawsuit Commences

Levi & Korsinsky Staff

All persons or entities who purchased or otherwise acquired securities of Telefonaktiebolaget LM Ericsson (“Ericsson”) (NASDAQ: ERIC) between April 8, 2013 and July 17, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information on the Ericsson class action lawsuit go to: http://www.zlk.com/pslra-d/telefonaktiebolaget-lm-ericsson, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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Synacor Class Action Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Synacor, Inc. (“Synacor” or “the Company”) (NASDAQGM: SYNC) concerning possible violations of federal securities laws. On May 4, 2016, Synacor announced it had secured a three-year contract with AT&T Inc. to host web and mobile services. On August 9, 2017, Synacor issued a press release announcing that “The joint AT&T-Synacor team has made the strategic decision to prioritize portal engagement right now over monetization.” In the press release, Synacor CEO Himesh Bhise was quoted as stating that “a significant portion of the revenue that we were expecting in Q3 and Q4 this year is delayed to 2018, and we are adjusting our financial guidance for 2017 accordingly.” Then on March 15, 2018, the Company held a conference call during which Bhise noted that given the focus on engagement, “in the last three quarters of 2017, we generated approximately $25 million in revenue from AT&T” and that “Clearly, this forecast is below the $100 million annual revenue target that AT&T and Synacor announced when we first discussed the portal contract…”. Following this news, shares of Synacor fell more than 14% to close at $1.75 on March 16, 2018. To obtain additional information on the Synacor class action investigation, contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit zlk.com.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


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Class Action News

Overstock.com Class Action Investigation Commences

Levi & Korsinsky Staff

Levi & Korsinsky announces it has commenced an investigation of Overstock.com, Inc. (“Overstock” or “the Company”) (NASADAQGM: OSTK) concerning possible violations of federal securities laws. On March 1, 2018, Overstock announced that the Securities and Exchange Commission (“SEC”) had requested information about its initial coin offering. Then, on March 15, 2018, the Company stated that “the investigation could result in a delay of the tZero security token offering, negative publicity for tZero or us, and may have a material adverse effect on us or on the current and future business ventures of tZero.” Overstock also disclosed that the SEC was conducting an examination of advisers at tZERO. To obtain additional information on the Overstock.com class action investigation, contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit zlk.com.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.


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Longfin Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Longfin Corp. (“Longfin”) (NASDAQ: LFIN) between December 13, 2017 and April 2, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information on the Longfin class action lawsuit go to: http://www.zlk.com/pslra-d/longfin-corp, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Longfin class action lawsuit complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Longfin had material weaknesses in its operations and internal controls that hindered the Company’s profitability; (ii) Longfin did not meet the requirements for inclusion in Russell indices; and (iii) as a result of the foregoing, the Defendants’ public statements were materially false and misleading at all relevant times.

 

If you suffered a loss in Longfin you have until June 4, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


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TrueCar Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of TrueCar, Inc. (“TrueCar”) (NASDAQ: TRUE) between February 16, 2017 and November 6, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Central District of California. To get more information on the TrueCar class action lawsuit go to: http://www.zlk.com/pslra-d/truecar-inc, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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Patterson Companies Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Patterson Companies, Inc. (“Patterson”) (NASDAQ: PDCO) between June 26, 2015 and February 28, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the District of Minnesota. To get more information on the Patterson Companies class action lawsuit go to: http://www.zlk.com/pslra-d/patterson-companies-inc-2, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Patterson Companies class action lawsuit complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Defendants were engaged in a fraudulent and illegal price-fixing conspiracy; (2) the Company’s revenue and earnings were fraudulently inflated by the illegal scheme; (3) the scheme was aimed at prohibiting sales to, and price negotiations by, group purchasing organizations (“GPOs”) that represented small and independent dental practices; (4) as a result of the foregoing, Defendants’ statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

 

If you suffered a loss in Patterson you have until May 29, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


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Class Action News

Celgene Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Celgene Corporation (“Celgene”) (NASDAQ: CELG) between January 12, 2015 and February 27, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the District of New Jersey. To get more information on the Celgene class action lawsuit, go to: http://www.zlk.com/pslra-d/celgene-corporation, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Celgene class action lawsuit complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1)  the trials for GED-0301 suffered from fatal design defects, such that GED-0301 had failed to demonstrate meaningful clinical efficacy; (3) the growth of Otezla sales had dramatically slowed during Celgene’s third fiscal quarter of 2017; and (4) the clinical and nonclinical pharmacology data in Celgene’s new drug application (“NDA”) for Ozanimod were insufficient to permit a complete review by the FDA, which resulted in the FDA issuing a refusal to file letter to Celgene regarding the NDA.

 

If you suffered a loss in Celgene you have until May 29, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

 


Solid Biosciences Class Action Lawsuit Levi & Korsinsky

Class Action News

Solid Biosciences Class Action Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Solid Biosciences Inc. (“Solid Biosciences”) (NASDAQ: SLDB) pursuant to the January 25, 2018 initial public offering and/or between January 25, 2018 and March 14, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the District of Massachusetts. To get more information on the Solid Biosciences class action go to: http://www.zlk.com/pslra-d/solid-biosciences-inc, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Solid Biosciences class action lawsuit complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Solid Bioscience’s lead drug candidate, SGT-001, had a high likelihood of causing adverse events in patients; (2) the company misled investors regarding the toxicity of SGT-001; and (3) consequently, defendants’ statements in the Registration Statement regarding Solid Biosciences’ business, operations, and prospects were materially false and/or misleading.

 

If you suffered a loss in Solid Biosciences you have until May 29, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


Facebook Class Action Lawsuit Levi & Korsinsky

Class Action News

Facebook Class Action Lawsuit Commences

Levi & Korsinsky Staff

April 17, 2018

To: All persons or entities who purchased or otherwise acquired securities of Facebook, Inc. (“FB”) (NASDAQ: FB) between February 3, 2017 and March 19, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information on the Facebook class action lawsuit go to: http://www.zlk.com/pslra-d/facebook-inc-3, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Facebook class action lawsuit complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Facebook violated its own purported data privacy policies by allowing third parties to access the personal data of millions of Facebook users without the users’ consent; (ii) discovery of the foregoing conduct would foreseeably subject the Company to heightened regulatory scrutiny; and (iii) as a result, Facebook’s public statements were materially false and misleading at all relevant times.

 

If you suffered a loss in FB you have until May 21, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


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A10 Networks Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of A10 Networks, Inc. (“A10”) (NYSE: ATEN) between February 9, 2016 and January 30, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information on the A10 Networks class action lawsuit go to: http://www.zlk.com/pslra-d/a10-networks-inc, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The A10 Networks class action lawsuit complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) A10 had issues with its internal controls that required an Audit Committee investigation; (2) A10’s revenues since the fourth quarter of 2015 were false due to improper revenue recognition, which prompted an investigation by the Company’s Audit Committee; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

 

If you suffered a loss in A10 you have until May 21, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


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CEMEX Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) between August 14, 2014 and March 13, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information on the CEMEX class action lawsuit go to: http://www.zlk.com/pslra-d/cemex, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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BRF S.A. Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of BRF S.A. (“BRF”) (NYSE: BRFS) between April 4, 2013 and March 2, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information on the BRF S.A. class action lawsuit go to: http://www.zlk.com/pslra-d/brf-s-a, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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Foot Locker Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Foot Locker, Inc. (“Foot Locker”) (NYSE: FL) between August 19, 2016 and August 17, 2017. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Eastern District of New York. To get more information about the Foot Locker class action go to: http://www.zlk.com/pslra-d/foot-locker-incor contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Foot Locker class action lawsuit complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Foot Locker’s vendors were transitioning to selling through various online retailers, diminishing the utility of Foot Locker’s large number of brick and mortar stores and the value of its exclusivity relationships with those vendors; (2) competition with online retailers had increased the pricing competition Foot Locker faced while also materially lowering the demand at Foot Locker stores; and (3) as a result of defendants’ failure to disclose this information, Foot Locker stock was artificially inflated to a high of $79.20 per share during the Class Period, while executives were able to sell over 192,000 shares of their personally held Foot Locker stock at artificially inflated prices.

 

If you suffered a loss in Foot Locker you have until May 8, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


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WageWorks Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of WageWorks, Inc. (“WageWorks”) (NYSE: WAGE) between May 6, 2016 and March 1, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information about the WageWorks class action go to: http://www.zlk.com/pslra-d/wageworks-inc, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The WageWorks class action lawsuit complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) there were material weaknesses in WageWorks’ systems of internal controls and that its practices and controls were ineffective; (2) WageWorks failed to adequately manage and assess risk relating to certain complex transactions, including certain government contracts; (3) WageWorks improperly recognized revenue thereby inflating its earnings and related financial metrics; and (4) as a result, WageWorks’ financial statements were materially false and misleading at all relevant times.

 

If you suffered a loss in WageWorks you have until May 8, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


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Akorn Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Akorn, Inc. (“Akorn”) (NASDAQ: AKRX) between March 1, 2017 and February 26, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the District of Illinois. To get more information about the Akorn class action lawsuit go to: http://www.zlk.com/pslra-d/akorn-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Akorn class action lawsuit complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s failure to comply with FDA data integrity requirements would jeopardize Fresenius’ acquisition of the Company; (2) the Company lacked effective internal controls over financial reporting; and (3) as a result, the Company’s financial statements were materially false and misleading at all relevant times.

 

If you suffered a loss in Akorn you have until May 7, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


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Henry Schein Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Henry Schein, Inc. (“Henry Schein”) (NASDAQ: HSIC) between March 7, 2013 and February 12, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Eastern District of New York. To get more information about the Henry Schein class action lawsuit go to: http://www.zlk.com/pslra-d/henry-schein-inc, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Henry Schein class action lawsuit complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Henry Schein was engaging in unethical, anti-competitive behavior through agreements with Benco Dental Supply Company and Patterson Companies, Inc., in violation of United States antitrust laws; (2) Henry Schein engaged in such behavior, in part, to help maintain profitability in a consolidating health care industry; (3) these violations of U.S. antitrust laws would result in heightened scrutiny by the federal government and a lawsuit filed by the Federal Trade Commission (“FTC”); (4) Henry Schein failed to maintain adequate internal controls; and (5) as a result, defendants’ statements about Henry Schein’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

 

If you suffered a loss in Henry Schein you have until May 7, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.


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Atlas Financial Holdings Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Atlas Financial Holdings, Inc. (“Atlas Financial”) (NASDAQ: AFH) between March 13, 2017 and March 2, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois. To get more information about the Atlas Financial Holdings class action go to: http://www.zlk.com/pslra-d/atlas-financial-holdings-inc, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Atlas Financial class action lawsuit complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company failed to employ internal controls to ensure appropriate accounting practices; including, but not limited to, the calculation of certain loss reserves; (2) as a result, the Company’s internal controls over financial reporting were materially weak; (3) as a result the Company’s financial statements were inaccurate and misleading; and (4) as a result of the foregoing, Defendants’ statements about Atlas Financial’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

 

If you suffered a loss in Atlas Financial you have until May 4, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

 


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Patterson Companies Class Action Report

Levi & Korsinsky Staff

On March 28, 2018, investors sued Patterson Companies, Inc. (“Patterson” or the “Company”) in United States District Court, District of Minnesota. Plaintiffs in the federal securities class action allege that they acquired Patterson stock at artificially inflated prices between June 26, 2015 and February 28, 2018. They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s what you need to know about the Patterson Companies class action lawsuit:

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Facebook Class Action Report

Levi & Korsinsky Staff

On March 20, 2018, investors sued Facebook, Inc. (“Facebook” or the “Company”) in United States District Court, Northern District of California. Plaintiffs in the federal securities class action allege that they acquired Facebook stock at artificially inflated prices between February 3, 2017, and March 19, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything to know about the Facebook class action lawsuit:

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Grupo Televisa Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Grupo Televisa S.A.B. (“Grupo Televisa”) (NYSE: TV) between April 11, 2013 and January 25, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information about the Grupo Televisa class action lawsuit, go to: http://www.zlk.com/pslra-d/grupo-televisa-s-a-b or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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A10 Networks Class Action Report

Levi & Korsinsky Staff

On March 22, 2018 investors sued A10 Networks, Inc. (“A10” or the “Company”) in United States District Court, Northern District of California. Plaintiffs in the federal securities class action allege that they acquired A10 stock at artificially inflated prices between February 9, 2016 and January 30, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. Here’s everything to know about the A10 Networks class action lawsuit: (more…)


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Ulta Beauty Class Action Lawsuit Commences

Levi & Korsinsky Staff

To: All persons or entities who purchased or otherwise acquired securities of Ulta Beauty, Inc. (“Ulta Beauty”) (NASDAQ: ULTA) between March 30, 2016 and February 23, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois. To get more information about the Ulta Beauty class action lawsuit go to: http://www.zlk.com/pslra-d/ulta-beauty-inc, or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

 

The Ulta Beauty class action complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) the Company was engaged in the widespread practice of repackaging returned cosmetics and re-shelving them alongside unblemished products to sell at full retail price; and (ii) that as a result of the foregoing, Ulta Beauty’s public statements were materially false and misleading at all relevant times. On February 23, 2018, CBS News published a story on the alleged restocking practice, citing a former employee who alleged that managers pressured store employees to clean and repackage returned cosmetics “to keep the dollar amount for damaged or returned goods down.”

 

If you suffered a loss in Ulta Beauty you have until May 1, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.