Recent Updates


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

Levi & Korsinsky Announces CMCM Class Action; CMCM Lawsuit

Levi & Korsinsky, LLP

December 14, 2018

Marcu v. Cheetah Mobile, Inc., et al 1:18-cv-11184-JMF — On November 30, 2018, investors sued Cheetah Mobile, Inc., (“Cheetah” or the “Company”) in United States District Court, Southern District of New York. Plaintiffs in the federal securities class action claim that they acquired the Company’s American Depository Receipts (ADRs) at artificially inflated prices between April 26, 2017 and November 27, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of Cheetah’s alleged misconduct during that time. For more information on the CMCM lawsuit, please contact us today!

Summary of the Allegations

Company Background

Cheetah (NYSE: CMCM) is a Chinese business incorporated in 2009 and known as Kingsoft Internet Holdings Limited until it adopted its current moniker in 2014.

As a “mobile Internet company,” Cheetah’s goal is to “provide leading apps for mobile users worldwide and connect users with personalized content powered by artificial intelligence.” According to its website, Cheetah has “attracted approximately 600 million global MAUs [monthly average users] in more than 200 countries and regions, of which approximately 77% are located in Europe and the U.S.”

Cheetah’s products include utility applications, such as Clean Master, Security Master, CM Launcher, Duba Anti-Virus and Cheetah Keyboard. The Company also provides social and gaming apps, such as LiveMe and popular casual games such as Piano Tiles 2, Rolling Sky and Arrow.io.

Summary of Facts

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

Specifically, they are accused of failing to disclose truthful information about its acquisition and use of certain data in SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Cheetah stock to trade at artificially inflated prices during the time in question.

The truth came out in a Buzz Feed News article published on November 26, 2018. According to the November 30 complaint, the article reported that the Company’s apps, “tracked when users downloaded new apps and used this data to inappropriately claim credit for having caused the download.” Buzz Feed also reported that, “two of Cheetah’s apps were removed from the Google Play store after publication of the article.”

A closer look…

As alleged in the November 30 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements throughout the Class Period. Some examples follow.

On a form filed with the SEC on April 26, 2017, Cheetah stated in relevant part: “We generate online marketing revenues primarily by providing mobile advertising services to advertisers worldwide, as well as referring user traffic and selling advertisements on our mobile and PC platforms.”

The same form included a certification signed by one the Individual Defendants in accordance with federal law. By signing it, the Individual Defendant attested to, “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.”

On another form filed with the SEC on April 24, 2018, the Company referred to its “Ability to provide targeted advertising,” and stated in relevant part: We believe that data analytics is a key factor affecting our online marketing revenues. Data analytics enable us to map our users’ interest and distribute targeted advertising to our users. Our ability to effectively conduct user profiling and provide targeted advertising affects advertising engagement and conversion, which affects our online marketing revenues.”

What the Company did not reveal, however was that its apps had, “undisclosed imbedded features which tracked when users downloaded new apps,” that it misused this data, and that the discovery of this misuse “would foreseeably subject the Company’s apps to removal from the Google Play store.” The Company also failed to disclose that revenue generated during the Class Period was “unsustainable” because it was partially derived from improper conduct.

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

Closing stock price prior to disclosures:

 

$8.80
Closing stock the trading day after disclosures:

 

$5.48
One day stock price decrease (percentage) as a result of disclosures:

 

37.72%

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

CMCM Class Action CMCM Lawsuit

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 January 29, 2019. 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 Cheetah 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:

CMCM Class Action CMCM Lawsuit

About Us

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.

 


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

Levi & Korsinsky Announces TX Class Action; TX Lawsuit

Levi & Korsinsky, LLP

Ulbricht v. Ternium S.A. et al 1:18-cv-06801-PKC-RLM — On November 29, 2018, investors sued Ternium S.A. (“Ternium” or the “Company”) in United States District Court, Eastern District of New York. The TX class action alleges that plaintiffs acquired Ternium securities at artificially inflated prices between May 1, 2014 and November 27, 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 on the TX lawsuit, please contact us today.

Summary of the Allegations

Company Background

Working through its subsidiaries, Ternium (NYSE: TX) makes and processes various steel products in Mexico, the United States, and throughout Central and South America.

Ternium now employs more than 21,000 people. Its steel products include but are not limited to slabs, billets and round bars, hot-rolled coils and sheets, bars and stirrups, wire rods, cold-rolled coils and sheets, tin plates, hot dipped galvanized and electrogalvanized sheets and pre-painted sheets.

Founded in 1961, the Company is incorporated and based in Luxembourg City, Luxembourg.

Summary of Facts

Ternium and four of its current and former officers and/or directors  (the “Individual Defendants”) are now accused of deceiving investors by lying and/or withholding critical information about the Company’s business practices, operational and financial results during the Class Period.

Specifically, they are accused of omitting truthful information about certain conduct and its impact on the Company from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Ternium securities to trade at artificially inflated prices during the time in question.

The truth came out in a Bloomberg article published November 27, 2018. In it Bloomberg reported that the Chairman of Ternium’s Board of Directors, who is also chairman and CEO of Tenaris, S.A., had been “indicted for his role in a graft scheme.”

The article also went into greater detail, reporting: “The judge charged [Paolo] Rocca after the Argentine billionaire testified that one of his company’s executives paid an undisclosed amount of cash to government officials in monthly installments from 2009 to 2012. The officials were allegedly working for then-President Cristina Fernandez de Kirchner’s administration to speed up a compensation payment from Venezuela’s Hugo Chavez for the nationalization of Sidor, a unit that had been seized by Venezuela.”

A closer look…

As alleged in the November 29 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For instance, on a form filed with the SEC on April 30, 2014, the Company said in relevant part: “Ternium’s cash flows for 2011 and 2012 include non-recurring payments received in connection with the transfer of our interest in Sidor to Venezuela.”

On the same form, Ternium referred to its Code of Ethics and Code of Conduct, saying in relevant part: “We have adopted a code of ethics that applies specifically to our principal executive officers and principal financial and accounting officer and controller, as well as persons performing similar functions. We have also adopted a code of conduct that applies to all company employees, including contractors, subcontractors and suppliers.”

Another form filed with the SEC on June 1, 2015, included certifications signed by two of the Individual Defendants pursuant to federal law. By signing them, the Individual Defendants attested to “the accuracy of financial reporting, the disclosure of any material changes to the Company’s controls over financial reporting, and the disclosure of all fraud.”

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

Closing stock price prior to disclosures:

 

$29.44
Closing stock price the trading day after disclosures:

 

$28.02
One day stock price decrease (percentage) as a result of disclosures:

 

4.82%

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

TX Class Action TX Lawsuit

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 January 28, 2019. 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 Ternium securities 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:

TX Class Action TX Lawsuit

About Us

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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

Levi & Korsinsky Announced RYAAY Lawsuit; RYAAY Class Action

Levi & Korsinsky, LLP

December 12, 2018

City of Birmingham Firemen’s and Policemen’s Supplemental Pension System v. Ryanair Holdings, plc. et al 1:18-cv-10330-JPO — On November 6, 2018, investors sued Ryanair Holdings, plc. (“Ryanair” or the “Company”) in United States District Court, Southern District of New York. Plaintiffs in the RYAAY class action allege that they acquired Ryanair American Depositary Shares (ADS) at artificially inflated prices between May 30, 2017, and September 28, 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 on the RYAAY lawsuit, please contact us today.

Summary of the Allegations

Company Background

Ryanair (NASDAQ: RYAAY) is a commercial airline based in Dublin, Ireland.

According to its website, the Company’s history dates to 1985-1986, when it launched its “first route in July with daily flights on a 15-seater Bandeirante aircraft, operating daily from Waterford in the southeast of Ireland to London Gatwick.”

Today, the Company bills itself as, “Europe’s first and largest low fares airline,” and “Europe’s Number 1 airline.” Specifically, it claims that it accommodates more than 130 million passengers per year on “more than 2,000 daily flights from 86 bases, connecting 215 destinations in 37 countries on a fleet of 430 Boeing 737 aircraft.”       Finally, the Company claims that it employs “a team of more than 14,500 highly skilled aviation professionals.”

Summary of Facts

Ryanair and its CEO now stand accused of deceiving investors by lying and/or withholding critical information about the Company’s business practices and prospects during the Class Period.

Specifically, they are accused of omitting truthful information about difficult labor relations, and the potential impact on Ryanair’s operations and financial results, from SEC filings and related material. By recklessly or knowingly doing so, they allegedly caused Ryanair ADS to trade at artificially inflated prices during the time in question.

The truth came out in a series of events beginning on September 14, 2017. That’s when the public learned that Ryanair “had lost a key ruling in the European Court of Justice (“ECJ”) that cast doubt on the legality of the Company’s use of Irish employment contracts to evade local labor laws throughout Europe.”

The next day, the Company announced the short-term cancellation of daily flights affecting more than 300,000 customers due to “pilot scheduling issues.” However, reports quickly surfaced indicating that the disruption was really due to “widespread defections by disgruntled employees.”

Although the Company vowed to address employee concerns, news about ongoing employee unrest again surfaced in the summer of 2018. On July 23, 2018, the Company “disclosed a 20% decrease in quarterly profits, due in part to a 34% increase in staff costs.”

Finally, on October 1, 2018, Ryanair announced that it would be unable to meet its annual profit guidance “due to the lost fares and ballooning costs related to the strikes and flight cancellations.”

A closer look…

As alleged in the November 6 complaint, Ryanair and its CEO repeatedly made false and misleading public statements during the Class Period.

For example, on a form filed at the beginning of the Class Period, the Company stated in pertinent part: “In April we negotiated new pay and condition agreements with 10 of our pilot and cabin crew bases which means that all of our 86 bases now enjoy 5 year agreements, which guarantee them industry leading rosters, and pay increases each year.”

On a conference call with analysts and investors also held on May 30, 2017, Ryanair’s CEO said in relevant part: “We reject some of the idiotic criticism that came out of some Scandinavian pension forums recently that somehow we don’t deal with our employees, our employees are not covered by collective bargaining when they are. And we do not see unionization being an issue for the foreseeable future.”

Then on a form filed with the SEC on July 25, 2017, the Company stated in pertinent part: “Following negotiations through this ERC system, pilots of all of Ryanair’s 86 bases are covered by four, five or six year collective agreements on pay, allowances and rosters which fall due for negotiation at various dates between 2018 and 2023. Cabin crew at all of Ryanair’s bases are also party to long term collective agreements on pay, allowances and rosters, which expire in March 2021.”

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

Closing ADS price prior to disclosures:

 

$96.04
Closing ADS price the trading day after disclosures:

 

$80.93
One day stock price decrease (percentage) as a result of disclosures:

 

15.73%

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

RYAAY Lawsuit, RYAAY Class Action

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 January 7, 2019. 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 Ryanair 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:

RYAAY CLass Action, RYAAY Lawsuit

About Us

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.

 


ALGN Class Action, ALGN Lawsuit

Class Action Reports

Levi & Korsinsky Announces ALGN Class Action; ALGN Lawsuit

Levi & Korsinsky, LLP

Lu v. Align Technology, Inc., et al 5:18-cv-06720-LHK–On November 5, 2018, investors sued Align Technology, Inc., (“Align” or the “Company”) in United States District Court, Northern District of California. Plaintiffs in the ALGN class action allege that they acquired Align stock at artificially inflated prices between July 25, 2018 and October 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 on the ALGN Lawsuit, please contact us today!

Summary of the Allegations

Company Background

According to its website, Align (NYSE: ALGN) is a global medical device company that provides products and services which, “help dental professionals achieve the clinical results they expect and deliver effective, cutting-edge dental options to their patients.”

The Company says it introduced its Invisalign teeth straightening system in 1999, and that it made more than 1 million of the unique clear aligners within two years. Today, the Company also claims, it has helped treat more than 5 million patients with the Invisalign system – which is now available to adult and teenage patients in more than 90 countries globally.

Summary of Facts

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

Specifically, they are accused of omitting truthful information about discounts used to promote Invisalign from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused the price of Align stock to trade at artificially inflated prices during the time in question.

The truth came out when the Company announced its third quarter 2018 financial results on October 24, 2018. Align then revealed that its Invisalign Average Selling Price dropped from $1,315 to $1,230.

On the same day, the Company announced that its Chief Marketing Officer (an Individual Defendant) would “reduce his responsibilities and transition to a part-time position.”

A closer look…

As alleged in the November 5, complaint, Align and/or the Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For instance, in a press release announcing the Company’s financial results for the second quarter of 2018, which was issued at the beginning of the Class Period, one of the Individual Defendants said in pertinent part: “Year-over-year revenue growth of 37.5% was driven by continued momentum from Invisalign doctors and increased adoption of Invisalign treatment for teenage patients, which was 42.1%.”

In the same press release, the same Individual Defendant also stated in pertinent part: “Q2 Invisalign volume growth of 30.5% year-over-year reflects increased utilization and expansion of our customer base, which was over 50,000 for the first time and included more than 5,000 new Invisalign-trained doctors.”

Then, on August 2, 2018, the Company filed a quarterly report with the SEC in which it affirmed the financial results announced in the press release.

What the Company did not disclose, however, was that it “would offer higher discounts to promote Invisalign,” and that “the promotions would materially impact revenue.”

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

Closing stock price prior to disclosures:

 

$290.83
Closing stock price the trading day after disclosures:

 

$232.07
One day stock price decrease (percentage) as a result of disclosures:

 

20.20%

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

 ALGN Lawsuit ALGN Class Action

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 January 4, 2019. 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 Align common stock using court approved loss calculation methods.

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:

ALGN Lawsuit ALGN Class Action

About Us

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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

Levi & Korsinsky Announces APOG Lawsuit; APOG Class Action

Levi & Korsinsky, LLP

On November 5, 2018, investors sued Apogee Enterprises, Inc., (“Apogee” or the “Company”) in United States District Court, District of Minnesota. The APOG class action alleges that plaintiffs acquired Apogee stock at artificially inflated prices between June 28, 2018 and September 17, 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 on the APOG Lawsuit, please contact us today!

Summary of the Allegations

Company Background

Apogee (NASDAQ: APOG) is a self-described “industry leader in architectural products and services.” As such, it says it derives the bulk of its revenue through its architectural glass, metal and installation businesses.

The Company’s history dates to 1949. Eventually, the business that began with just one auto glass shop expanded to provide architectural glass installation and window framing. In 1971, Apogee went public, offering 250,000 shares.

Today, Apogee has eight operating companies, 12 manufacturing and fabrication facilities in the United States, and 13 overseas.

Summary of Facts

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

Specifically, they are accused of omitting truthful information about its labor force and ability to hire new employees from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Apogee 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 September 18, 2018. In it the Company revealed the operating income for its glass segment was $1.7 million, compared to $10.3 million in the “previous year’s comparable quarter.” The Company blamed the poor performance on “significantly increased labor costs, lower productivity, and higher cost of quality, as the segment was challenged to efficiently ramp-up production to meet the higher than expected, short lead-time customer demand.” It also reduced its financial guidance.

Then on an ensuing conference call to discuss its financial and operating results for the second fiscal quarter of 2018, one of the Individual Defendants admitted “Apogee was never ready to ramp-up production and meet the previously announced growth and margins,” that Defendants “were aware of labor market trends,” and that they did nothing to address them.

A closer look…

As alleged in the November 5 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For example, in a press release regarding the Company’s financial and operating results for the first fiscal quarter of 20, which was issued at the beginning of the Class Period, the Company stated in relevant part: “We also continued to make progress positioning the company for long-term, stable earnings and cash flow growth, regardless of the economic cycle.”

In the same press release, the Company also said in pertinent part: “On this strong foundation, we continued making investments and process improvements to increase efficiencies in project selection, manufacturing and delivery to raise long-term operating margins and drive earnings.”

Then, during an ensuing conference call to discuss the Company’s fiscal first quarter 2018 results, one of the Individual Defendants stated in pertinent part: “…order activity for Architectural Glass grew substantially during the quarter and we continue to expect higher revenues sequentially in Q2 and year-over-year revenue in operating income growth for the remainder of the year.”

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

Closing stock price prior to disclosures:

 

$48.22
Closing stock price two trading days after disclosures:

 

$41.76
Two day stock price decrease (percentage) as a result of disclosures:

 

13.40%

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

APOG Lawsuit

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 January 4, 2019. 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 Apogee 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:

APOG Lawsuit

About Us

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 today!


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces Cheetah Mobile Lawsuit; CMCM Class Action

Levi & Korsinsky

December 5, 2018

NEW YORK, December 5, 2018 – Levi & Korsinsky, LLP announces a class action has commenced on behalf of Cheetah Mobile Inc. (“Cheetah Mobile”) (NYSE: CMCM) shareholders who purchased shares between April 26, 2017 and November 27, 2018. You are hereby notified that the Cheetah Mobile lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information about the CMCM class action go to: https://www.zlk.com/pslra-1/cheetah-mobile-inc-loss-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 Cheetah Mobile lawsuit alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Cheetah Mobile’s apps had undisclosed imbedded features which tracked when users downloaded new apps; (2) Cheetah Mobile used this data to inappropriately claim credit for having caused the downloads; (3) the foregoing features, when discovered, would foreseeably subject Cheetah Mobile’s apps to removal from the Google Play store; (4) accordingly, Cheetah Mobile’s revenues during the relevant period were in part the product of improper conduct and thus unsustainable; and (5) as a result, Cheetah Mobile’s public statements were materially false and misleading at all relevant times.

If you suffered a loss in Cheetah Mobile you have until January 29, 2019 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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces Marriott Lawsuit; MAR Class Action

Levi & Korsinsky

NEW YORK, December 5, 2018 – Levi & Korsinsky, LLP announces a class action has commenced on behalf of Marriott International, Inc. (“Marriott”) (NASDAQGS: MAR) shareholders who purchased shares between November 9, 2016 and November 29, 2018. You are hereby notified that the Marriott lawsuit has been commenced in the United States District Court for the Eastern District of New York. To get more information about the MAR class action go to: https://www.zlk.com/pslra-1/marriott-international-inc-loss-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 MAR class action alleges that throughout the class period Defendants issued materially false and/ormisleading statements and/or failed to disclose that: (1) Marriott’s and Starwood’s systems storing their customers’ personal data were not secure; (2) there had been unauthorized access on Starwood’s network since 2014; (3) consequently, the personal data of approximately 500 million Starwood guests and the sensitive personal information of approximately 327 million of those guests may have been exposed to unauthorized parties; and (4) as a result, Marriott’s public statements were materially false and/or misleading at all relevant times.

If you suffered a loss in Marriott you have until January 30, 2019 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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces Ternium Class Action; TX Lawsuit

Levi & Korsinsky

NEW YORK, December 5, 2018 – Levi & Korsinsky, LLP announces a class action has commenced on behalf of Ternium S.A. (“Ternium”) (NYSE: TX) shareholders who purchased shares between May 1, 2014 and November 27, 2018. You are hereby notified that the TX lawsuit has been commenced in the United States District Court for the Eastern District of New York. To get more information about the TX lawsuit go to: https://www.zlk.com/pslra-1/ternium-s-a-loss-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 Ternium class action alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Defendant Paolo Rocca, Ternium’s Chairman, knew that one of his company’s executives paid cash to government officials from 2009 to 2012 to expedite compensation payments for the sale of Ternium’s Sidor unit; (2) this conduct would lead Rocca to be charged in a graft scheme and subject Ternium, its affiliates, and/or its executives to heightened governmental scrutiny; and (3) as a result, Ternium’s public statements were materially false and/or misleading at all relevant times.

On November 27, 2018, Bloomberg reported that Rocca was indicted for his role in a graft scheme. According to the article, “The judge charged Rocca after the Argentine billionaire testified that one of his company’s executives paid an undisclosed amount of cash to government officials in monthly installments from 2009 to 2012. The officials were allegedly working for then-President Cristina Fernandez de Kirchner’s administration to speed up a compensation payment from Venezuela’s Hugo Chavez for the nationalization of Sidor, a unit that had been seized by Venezuela. Rocca’s group was compensated with $1.95 billion for the unit.”

If you suffered a loss in Ternium you have until January 28, 2019 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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Investigation of Tribune Merger; TRCO Acquisition

Levi & Korsinsky

Levi & Korsinsky, LLP is investigating the sale of Tribune Media Company (“Tribune” or the “Company”) (NYSE: TRCO) to Nexstar Media Group, Inc. (NASDAQGS: NXST). Under the terms of the transaction, Tribune shareholders will receive $46.50 per share. To learn more about the Tribune merger and your rights, go tohttps://www.zlk.com/mna/tribune-media-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 Tribune merger investigation concerns whether the Board of Tribune breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Nexstar is underpaying for Tribune shares, thus unlawfully harming Tribune 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces the Boeing Class Action; BA Lawsuit

Levi & Korsinsky

November 30, 2018

NEW YORK, November 30, 2018 – Levi & Korsinsky, LLP announces a class action on behalf of The Boeing Company (“Boeing”) (NYSE: BA) shareholders who purchased shares between February 8, 2017 and November 13, 2018. The Boeing class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois. To get more information about the BA class action go to: https://www.zlk.com/pslra-1/the-boeing-company-loss-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 Boeing class action alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) the Company’s new 737 MAX automated stall-prevention system was susceptible to deadly malfunctions; (ii) Boeing maintained inadequate internal controls to ensure the timely reporting and dissemination of such malfunctions; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On November 12, 2018, The Wall Street Journal published an article entitled “Boeing Withheld Information on 737 Model, According to Safety Experts and Others.”  Citing “safety experts involved in the investigation, as well as midlevel FAA [Federal Aviation Administration] officials,” the article reported that Boeing “withheld information about potential hazards associated with a new flight-control feature suspected of playing a role in last month’s fatal Lion Air jet crash.” Following the publication of the Wall Street Journal article, Boeing’s stock price plummeted from a close of $357.03 on November 12, 2018, to a recent low of $312.32 on November 23, 2018.

If you suffered a loss in Boeing you have until January 28, 2019 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.

 

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces the GreenSky Securities Action; GSKY Lawsuit

Levi & Korsinsky

NEW YORK, November 30, 2018 – Levi & Korsinsky, LLP announces a securities action on behalf of GreenSky, Inc. (“GreenSky”) (NASDAQGS: GSKY) shareholders who purchased shares pursuant and/or traceable to the Registration Statement issued in connection with the November 2017 Initial Public Offering. You are hereby notified that a securities lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information about the GSKY lawsuit go to: https://www.zlk.com/pslra-1/greensky-inc-loss-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 GSKY securities action complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: The complaint alleges that the Offering Documents failed to disclose material information and/or misstated material information, including the substantial change in the composition of GreenSky’s merchant business mix and the resulting diminution in transaction-fee revenue. The Initial Public Offering closed on May 29, 2018 with GreenSky having sold 43.7 million shares of Class A common stock at $23.00 per share. On November 6, 2018, GreenSky issued a press release indicating that the Company’s transaction-fee rate was approximately 35 basis points below the rate achieved in the third quarter of 2017. Following this news, shares of GreenSky closed at $9.28 per share on November 6, 2018.

If you suffered a loss in GreenSky you have until January 28, 2019 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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces the PPDAI Lawsuit; PPDF Class Action

Levi & Korsinsky

NEW YORK, November 30, 2018 – Levi & Korsinsky, LLP announces a class action on behalf of investors who purchased PPDAI Group Inc. (“PPDAI”) (NYSE: PPDF) American Depositary Shares pursuant and/or traceable to the Registration Statement issued in connection with PPDAI’s November 2017 Initial Public Offering. You are hereby notified that the PPDF class action has been commenced in the United States District Court for the Eastern District of New York. To get more information about the PPDAI class action go to: https://www.zlk.com/pslra-1/ppdai-group-inc-ppdf-loss-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 PPDAI lawsuit alleges that the Registration Statement issued in connection with the IPO contained materially false and/or misleading statements and/or failed to disclose material information, including that: (1) PPDAI was engaged in predatory lending practices that saddled subprime borrowers and those with poor or limited credit histories with high interest rate debt they could not repay; (2) many of PPDAI’s customers were using PPDAI-provided loans to repay existing loans they otherwise could not afford to repay, thereby inflating PPDAI’s revenues and active borrower numbers and increasing the likelihood of defaults; (3) PPDAI was experiencing increasing delinquency rates, negatively affecting PPDAI’s reserves; (4) PPDAI’s purported “rapid growth” in the number and amount of loans had materially dropped off; and (5) PPDAI was providing online loans to college students despite a government ban on the practice.

If you suffered a loss in PPDAI you have until January 25, 2019 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.

 

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Investigation of BSB Merger; BLMT Acquisition

Levi & Korsinsky

November 29, 2018

NEW YORK, November 29, 2018 – Levi & Korsinsky, LLP announces an investigation concerning the fairness of the sale of BSB Bancorp, Inc. (“BSB” or the “Company”) (NASDAQCM: BLMT) to People’s United Financial, Inc. (NASDAQGS: PBCT). Under the terms of the transaction, BSB shareholders will receive 2.0 shares of People’s United stock for each BSB share they own. This represents an approximate value of $32.42 per share. To learn more about the action and your rights, go tohttps://www.zlk.com/mna/bsb-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 BSB merger investigation concerns whether the Board of BSB 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 BSB shares, thus unlawfully harming BSB 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Investigation of Dominion Energy Midstream Merger; DM Acquisition

Levi & Korsinsky

NEW YORK, November 296, 2018 – Levi & Korsinsky, LLP is investigating the sale of Dominion Energy Midstream Partners, LP (“Dominion Energy Midstream” or the “Company”) (NYSE: DM) to Dominion Energy, Inc. (NYSE: D). Under the terms of the transaction, Dominion Energy Midstream shareholders will receive 0.2492 Dominion Energy shares for each share of Dominion Energy Midstream stock they own. To learn more about the action and your rights, go tohttps://www.zlk.com/mna/dominion-energy-midstream-partners-lp 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 Dominion Energy Midstream merger investigation concerns whether the Board of Dominion Energy Midstream breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Dominion Energy is underpaying for Dominion Energy Midstream shares, thus unlawfully harming Dominion Energy Midstream 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Investigating EDGE Merger; Edge Therapeutics Acquisition

Levi & Korsinsky

NEW YORK, November 29, 2018 – Levi & Korsinsky, LLP is investigating the sale of Edge Therapeutics, Inc. (“Edge Therapeutics” or the “Company”) (NASDAQGS: EDGE) to PDS Biotechnology Corporation (“PDS”). The transaction is structured as a stock-for-stock transaction; upon completion of the transaction, Edge Therapeutics shareholders will own 30% of the combined company. To learn more about the action and your rights, go tohttps://www.zlk.com/mna/edge-therapeutics-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 Edge Therapeutics merger investigation concerns whether the Board of Edge Therapeutics breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether PDS is underpaying for Edge Therapeutics shares, thus unlawfully harming Edge Therapeutics 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Investigation of TLP Merger; TransMontaigne Acquisition

Levi & Korsinsky

NEW YORK, November 29, 2018 – Levi & Korsinsky, LLP announces an investigation concerning the fairness of the sale of TransMontaigne Partners L.P. (“TransMontaigne” or the “Company”) (NYSE: TLP) to TLP Finance Holdings, LLC, an indirect subsidiary of ArcLight Energy Partners Fund VI, L.P. for $41 per share. To learn more about the action and your rights, go tohttps://www.zlk.com/mna/transmontaigne-merger 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 TransMontaigne merger investigation concerns whether the Board of TransMontaigne breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether TLP Finance Holdings, LLC is underpaying for TransMontaigne shares, thus unlawfully harming TransMontaigne 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Hortonworks Merger Investigation; HDP Acquisition

Levi & Korsinsky

NEW YORK, November 29, 2018 – Levi & Korsinsky, LLP is investigating the fairness of the sale of Hortonworks, Inc. (“Hortonworks” or the “Company”) (NASDAQGS: HDP) to Cloudera, Inc. (NYSE: CLDR). Under the terms of the transaction, Hortonworks shareholders will receive 1.305 shares of Cloudera for each share of Hortonworks stock they own. To learn more about the action and your rights, go tohttps://www.zlk.com/mna/hortonworks-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 Hortonworks merger investigation concerns whether the Board of Hortonworks breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Cloudera, Inc. is underpaying for Hortonworks shares, thus unlawfully harming Hortonworks 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Investigation of National Commerce Merger; NCOM Acquisition

Levi & Korsinsky

NEW YORK, November 29, 2018 – Levi & Korsinsky, LLP announces an investigation concerning the fairness of the sale of National Commerce Corporation (“National Commerce” or the “Company”) (NASDAQGS: NCOM) to CenterState Bank Corporation (NASDAQGS: CSFL). Under the terms of the transaction, National Commerce shareholders will receive 1.65 shares of CenterState Bank for each share of National Commerce stock they own, representing a value of approximately $40.01 per share. To learn more about the action and your rights, go tohttps://www.zlk.com/mna/national-commerce-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 National Commerce merger investigation concerns whether the Board of National Commerce breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether CenterState Bank is underpaying for National Commerce shares, thus unlawfully harming National Commerce 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 

To: All Persons or Entities who purchased National Commerce Corporation (“National Commerce” or the “Company”) (NASDAQGS: NCOM) stock prior to November 26, 2018.

You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of National Commerce to CenterState Bank Corporation (NASDAQGS: CSFL). Under the terms of the transaction, National Commerce shareholders will receive 1.65 shares of CenterState Bank for each share of National Commerce stock they own, representing a value of approximately $40.01 per share. To learn more about the action and your rights, go to:

 

https://www.zlk.com/mna/national-commerce-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 National Commerce merger investigation concerns whether the Board of National Commerce breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether CenterState Bank is underpaying for National Commerce shares, thus unlawfully harming National Commerce 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action News

Levi & Korsinsky Files Altice USA Class Action; ATUS Lawsuit

Levi & Korsinsky

November 27, 2018

NEW YORK, November 27, 2018 – Levi & Korsinsky, LLP announces it has commenced the class action lawsuit  Kupfner v. Altice USA, Inc. (1:18-cv-06601)  Altice USA, Inc. (NYSE: ATUS) pursuant and/or traceable to the Company’s initial public offering in June 2017. You are hereby notified that the class action has been commenced in the United States District Court for the Eastern District of New York. To get more information about the ATUS lawsuit go to: https://www.zlk.com/pslra-1/altice-usa-inc-loss-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 ATUS class action alleges that the Offering Documents issued pursuant to the IPO failed to disclose and/or misstated material information, including that: (1) “The Altice Way” proprietary growth model previously developed in Europe and described in the Offering Documents as a means to achieve superior margin performance was falsely touting Altice’s capacity to face already existing highly competitive environments and ever-changing consumer behaviors; (2) Altice was suffering from aggressively growing competition both in Europe and the United States, directly causing negative and decelerating revenue and EBITDA growth and impacting Altice’s market share; (3) specifically, Altice was suffering from mismanaged rate events, regulatory compliance and poorly managed network and customer care both in its France and Portugal segments, thereby impacting its customer base and churn rate; (4) Altice USA could not simply replicate the “The Altice Way” in the U.S.; and (5) as a result, Altice USA’s Offering Documents were materially misleading at all relevant times.

If you suffered a loss in Altice USA you have until January 18, 2019 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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Resolute Merger Investigation; REN Acquisition

Levi & Korsinsky

NEW YORK, November 27, 2018 – Levi & Korsinsky, LLP is investigating the fairness of the sale of Resolute Energy Corporation (“Resolute” or the “Company”) (NYSE: REN) to Cimarex Energy Co. (NYSE: XEC). Under the terms of the transaction, Resolute shareholders may elect to receive either $35 in cash per share or a combination of $14 and 0.2366 shares of Cimarex common stock for each share of Resolute stock they own. To learn more about the Resolute merger investigation and your rights, go tohttps://www.zlk.com/mna/resolute-energy-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 Resolute merger investigation concerns whether the Board of Resolute breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Cimarex is underpaying for Resolute shares, thus unlawfully harming Resolute 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Inuvo Merger Investigation; INUV Acquisition

Levi & Korsinsky

NEW YORK, November 27, 2018 – Levi & Korsinsky, LLP is investigating the sale of Inuvo, Inc. (NYSE American: INUV) to ConversionPoint Technologies, Inc. Under the terms of the transaction, Inuvo shareholders will receive $0.45 and 0.18877 shares of ConversionPoint Holdings, Inc. for each share of Inuvo stock they own; this represents an approximate value of $2.22 per share. To learn more about the INUV merger and your rights, go tohttps://www.zlk.com/mna/inuvo-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 Inuvo merger investigation concerns whether the Board of ConvergeOne breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether ConversionPoint Technologies, Inc. is underpaying for Inuvo shares, thus unlawfully harming Inuvo 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky investigating the ConvergeOne Merger; CVON Acquisition

Levi & Korsinsky

NEW YORK, November 27, 2018 – Levi & Korsinsky, LLP is investigating the fairness of the sale of ConvergeOne Holdings, Inc. (“ConvergeOne” or the “Company”) (NASDAGQM: CVON) to affiliates of CVC Fund VII for $12.50 per share. To learn more about the ConvergeOne merger investigation and your rights, go tohttps://www.zlk.com/mna/convergeone-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 ConvergeOne merger investigation concerns whether the Board of ConvergeOne breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether the affiliates of CVC Fund VII are underpaying for ConvergeOne shares, thus unlawfully harming ConvergeOne 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces iPass Merger Investigation; IPAS Acquisition

Levi & Korsinsky

NEW YORK, November 27, 2018 – Levi & Korsinsky, LLP is investigating the fairness of the sale of iPass Inc. (OTCMKTS: IPAS) to Pareteum Corporation (NASDAQCM: TEUM). Under the terms of the transaction, iPass shareholders will receive 1.17 shares of Pareteum for each share of iPass stock they own. To learn more about the IPAS merger and your rights, go tohttps://www.zlk.com/mna/ipass-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 iPass merger investigation concerns whether the Board of iPass breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Pareteum Corporation is underpaying for iPass shares, thus unlawfully harming iPass 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

Levi & Korsinsky Announces NKTR Class Action; NKTR Lawsuit

Levi & Korsinsky, LLP

Mulquin v. Nektar Therapeutics, et al. 4:18-cv-06607-HSG — On October 30, 2018, investors sued Nektar Therapeutics (“Nektar” or the “Company”) in United States District Court, Northern District of California. The NKTR class action alleges that the plaintiffs acquired Nektar stock at artificially inflated prices between November 11, 2017 and October 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 information on the NKTR Lawsuit, please contact us today!

Summary of the Allegations

Company Background

Nektar (NASDAQ: NKTR) is a self-described research-based development stage biopharmaceutical company that “discovers and develops innovative medicines in areas of high unmet medical need.”

The Company says it leverages its “proprietary and proven chemistry platform in the discovery and design” of its new drug candidates. It also says that its R&D pipeline of new investigational drugs includes treatments for cancer, auto-immune disease and chronic pain.

Nektar’s claims about its lead immune-oncology (“I-0”) product candidate, NKTTR-214, are at the crux of the October 30 complaint.

Summary of Facts

The Company and two of its officers and/or directors (the “Individual Defendants) are now accused of deceiving investors by lying and withholding critical information about Nektar’s business, operational and compliance practices during the Class Period.

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

The truth emerged in a report published by Plainview LLC (“Plainview”) on October 1, 2018. In it, Plainview concluded that, “the core concept of Nektar’s plan to develop NKTR-214 into ‘a new universal cancer treatment’ ‘has never worked in practice,’ and further asserted that Nektar’s decision to only disclose certain trial results represented ‘an unprecedented level of opacity.’”

A closer look…

As alleged in the October 30 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For instance, in a press release issued at the beginning of the Class Period, the Company said in relevant part: “Nektar and Bristol-Myers Squibb entered into a clinical collaboration in September of 2016 to evaluate the potential for the combination of Opdivo and NKTR-214 to show improved and sustained efficacy and tolerability above the current standard of care.”

Then, in a May 10, 2018 press release, one of the Individual Defendants said in pertinent part: “Nektar begins 2018 in a very strong position with a major collaboration with Bristol-Myers Squibb for NKTR-214 and key advancements in our immuno-oncology and immunology pipeline.”

Finally, in another press release issued on August 8, 2018, the same Individual Defendant also stated in pertinent part: “[o]ver the past few months, we have reported significant progress across all areas of our pipeline with notable milestones for immuno-oncology, immunology and pain programs.”

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

Closing stock price prior to disclosures:

 

$60.96
Closing stock price tw0 trading days after disclosures:

 

$55.33
Tow-day stock price decrease (percentage) as a result of disclosures:

 

9.24%

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

 NKTR Class Action, NKTR Lawsuit

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 December 31, 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 Nektar 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:

NKTR Class Action, NKTR Lawsuit

About Us

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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

Levi & Korsinsky Announces IGC Class Action; IGC Lawsuit

Levi & Korsinsky, LLP

Tchatchou v. India Globalization Capital, Inc., et al 8:18-cv-03396-PWG — On November 2, 2018, investors sued India Globalization Capital, Inc., (“IGC” or the “Company) in United States District Court for the District of Maryland. The federal securities class action alleges that the plaintiffs acquired IGC stock at artificially inflated prices between September 26, 2018 and October 29, 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 on the IGC Lawsuit, please contact us today!

Summary of the Allegations

Company Background

According to its website, the Company (NYSE American: IGC) engages in two different types of businesses.

The first is a “Legacy Infrastructure” business mostly conducted through IGC’s subsidiary, TBL, which includes heavy equipment rental, real estate management and trading in certain commodities.

The second is IGCA Pharma. The Company describes this business as a “leading cannabis-based pharmaceutical company with a pipeline of products designed to improve the lives of patients battling Alzheimer’s Disease, Parkinson’s Disease, chronic pain, PTSD and eating disorders.”

IGC is incorporated and based in Maryland. According to the November 2 complaint, the Company had more than 31 million shares issued and outstanding as of June 15, 2018.

Summary of Facts

IGC and three of its officers and/or directors (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 certain “ventures and promotions,” from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused IGC stock to trade at artificially inflated prices during the time in question.

The truth began to emerge when Citron Research and Marketwatch publicly questioned IGC’s operations following the “astronomic rise of the Company’s stock price.”

Then, on October 29, 2018, when NYSE American announced that, “trading in the Company’s stock would be immediately suspended and delisted from the Exchange” for various reasons.

A closer look…

As alleged in the November 2 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For example, on September 25, 2018, the Company issued a press release announcing its plans to enter a partnership and launch a “hemp/CBD-infused energy drink” called Nitro-G. In it, IGC stated in relevant part: “IGC will pay 797,000 shares of restricted, unregistered, common stock, for a 10-year agreement, with an option for multiple 5-year extensions, for the rights to market the products in the U.S., Canada, Mexico and South America, and exclusive global rights to all developed CBD-infused products.”

In the same press release, the Company also said in pertinent part: “IGC plans to create a branded, hemp/CBD-infused version of the formulation that addresses market demand for energy drinks with the inclusion of healthy properties derived from hemp including CBD.”

Finally, in the same press release, the Company concluded: “This transaction is particularly timely given the language of the 2018 Farm Bill that currently addresses potentially legalizing, on a federal level, industrial hemp and products derived from it, including hemp oil that contains CBD.”

The November 2 complaint alleges that IGC’s stock “rocketed 458%” within the week following the announcement. That week, IGC also “conducted an at-the-market stock offering announced on September 22, 2018, raising $30 million in capital.”

What the Company never disclosed, however, was that it was “engaged in ventures or promotions which it had not developed to commercial stage,” and that its management had “engaged in operations contrary to public interest.”

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

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

 IGC Lawsuit, IGC Class Action

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 January 2, 2019. 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 IGC 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:

IGC Lawsuit, IGC Class Action

About Us

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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

SONS Class Action (RBBN Class Action Lawsuit) Filed; SONS Lawsuit

Levi & Korsinsky, LLP

Miller v. Sonus Networks, Inc., et al 1:18-cv-12344 — On November 8, 2018, investors sued Sonus Networks, Inc., (“Sonus” or the “Company”) in United States District Court, District of Massachusetts. The SONS class action (RBBN Class Action) alleges that plaintiffs acquired Sonus stock at artificially inflated prices between January 8, 2015, and March 24, 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. For more information about the SONS Lawsuit (RBBN Lawsuit), please contact us today!

Summary of the Allegations

Company Background

Now known as Ribbon Communications, Inc. (NASDAQ: RBBN), Sonus (formerly NASDAQ: SONS), has been in business since 1997 and engages in the provision of “communications solutions.”

The technology the Company offers allows service providers and other establishments to safeguard their “communications infrastructures” through the use of Voice over Internet Protocol (“VoIP”), video, instant messaging and online collaboration.

According to the November 8 complaint, Sonus “began shifting its product line” as “IP-to-IP communications have become more common.” Specifically, it transitioned to the provision of “cloud-based solutions to link and secure multivendor, multiprotocol communications systems and applications across their customers’ networks of smartphones and tablets, for all of their employees and all of their offices.” Within this context, it focused on the production of “session border controllers,” or “SBCs.” SBCs are important because they “help secure connections as private communications connect with the public internet [sic].”

As technology and resulting demands for security have grown and changed, Sonus has also transitioned to the production of “diameter signaling controllers,” or “DSCs.” These products serve a crucial purpose by interconnecting separate elements and creating “a central point of control” within 4G LTE networks.

A “global direct sales force” sells the Company’s products. It is supplemented by “sales support from regional channel partners” worldwide.

Summary of Facts

Sonus and three of its former officers and/or 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 certain revenue from SEC filings and related material. By knowingly and deliberately doing so, they allegedly caused Sonus stock to trade at artificially inflated prices during the time in question.

The truth began to surface when the Company issued a press release before the market opened on March 24, 2015. In it, Sonus revealed that it had missed its first quarter, 2015 revenue projection by more than $20 million. According to the November 8 complaint, the Company’s only explanation at the time was that it, “no longer expects to receive certain orders this quarter that had been expected to be received at the back end of the first quarter.”

Immediately following the revelation, one industry analyst reduced the Company’s stock rating. The next day, another analyst blasted Sonus for its lack of honesty and management’s failure to provide any explanation for the reduced guidance.

Finally, on August 7, 2018, the SEC issued a press release and an Order. In it, the SEC announced that it had charged Ribbon Communications, Inc., and two of the Individual Defendants with making “material misstatements” about Sonus’s “revenue statements and guidance for Q1 2015” on January 8, 2015, and February 18, 2015. In settling the charges, the Company and Individual Defendants “agreed to pay civil penalties totaling $1.97 million.”

A closer look…

As alleged in the November 8 complaint, Sonus and/or the Individual Defendants repeatedly made misleading public statements during the Class Period.

For example, in a press release issued at the beginning of the Class Period, one of the Individual Defendants said in pertinent part: “We remain comfortable with consensus analyst revenue… estimates for the first quarter of 2015 of approximately $74 million.”

Then, during an earnings call held on February 18, 2015, the same Individual Defendant also said in relevant part: “Now, looking at Q1, we expect revenue to be approximately $74 million.”

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

Closing stock price prior to disclosures:

 

$13.16
Closing stock price the trading day after disclosures:

 

$8.70
One day stock price decrease (percentage) as a result of disclosures:

 

33.89%

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 January 8, 2019. 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 Sonus 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:

 

SONS Lawsuit SONS Class Action RBBN Lawsuit RBBN Class Action

 

 

 

About Us

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.


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces MoneyGram Lawsuit; MGI Class Action

Levi & Korsinsky

NEW YORK, November 27, 2018 – Levi & Korsinsky, LLP announces the commencement of a class action on behalf of MoneyGram International, Inc. (“MoneyGram”) (NASDAQGS: MGI) shareholders who purchased shares between February 11, 2014 and November 8, 2018. You are hereby notified that the MGI class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois. To get more information about the MoneyGram lawsuit, go to: https://www.zlk.com/pslra-1/moneygram-international-inc-loss-form-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 MGI lawsuit alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) MoneyGram was aware for years of high levels of fraud involving its money transfer system; (2) MoneyGram failed to implement appropriate anti-fraud countermeasures, in part, because doing so would adversely impact its revenue; (3) this misconduct would draw scrutiny from the FTC, which had an agreed-upon order requiring MoneyGram to implement a comprehensive anti-fraud program; (4) this misconduct would draw scrutiny from the Department of Justice, which entered into a Deferred Prosecution Agreement concerning MoneyGram’s anti-fraud and anti-money laundering programs; and (5) as a result, defendants’ statements about MoneyGram’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 MoneyGram you have until January 14, 2019 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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com


ALGN Class Action, ALGN Lawsuit

Class Action Reports

Levi & Korsinsky Announced FIT Class Action; FIT Lawsuit

Levi & Korsinsky, LLP

November 26, 2018

Lopes v. Fitbit, Inc., et al 3:18-cv-06665-JST — On November 1, 2018, investors sued Fitbit, Inc., (“Fitbit” or the “Company”) in United States District Court, Northern District of California. Plaintiffs in the FIT class action allege that they acquired Fitbit stock at artificially inflated prices between August 2, 2016 and January 30, 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. For more information about the FIT Lawsuit, please contact us today!

Summary of the Allegations

Company Background

According to its website, Fitbit (NYSE: FIT) is a business “dedicated to health and fitness” that is “building products that help transform people’s lives.”

The Company’s history dates to 2007, when its founders “realized that sensors and wireless technology had advanced to a point where they could bring amazing experiences to fitness and health.” Today its mission is to empower people to live healthier and more active lives.

Its products purportedly include wearable devices such as health and fitness trackers and smartwatches that allow users to access relevant data.

Fitbit is incorporated in Delaware and its principal executive offices are located in San Francisco. It also has U.S. offices in Boston, San Diego, and Washington State; and international offices in Dublin, Hong Kong, Shanghai, Seoul, Bucharest, Minsk, New Delhi, Tokyo, Singapore, Shenzhen and Waterloo (Canada).

As of October 31, 2016, Fitbit had more than 170 million shares of common stock outstanding.

Summary of Facts

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

Specifically, they are accused of omitting truthful information about its competition and demand for its products from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Fitbit stock to trade at artificially inflated prices during the time in question.

The truth emerged in a press release issued by the Company on January 30, 2017. In it, the Company disclosed that it expected its revenue for the fourth quarter of 2016 to fall well below previous estimates. The Company also “disclosed expected annual revenue growth of 17%, rather than the previously-announced forecast of 25% to 26%.”

A closer look…

As alleged in the November 1 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements throughout the Class Period.

For example, in a press release issued at the beginning of the Class Period, one of the Individual Defendants said in relevant part: “Based on the progress of our business, against a backdrop of a growing worldwide opportunity for our products, we remain confident in our guidance for the year.”

On a conference call also held that day, the same Individual Defendant stated in relevant part: “We have additional new products to come this year. The positive response we have received from retailers, who have had had the chance to preview these new products under NDA in recent weeks, strengthens our confidence in our guidance for the year.”

Then, on October 6, 2016, the same Individual Defendant did a television interview in which he “made a variety of positive statements about Fitbit’s business, operations and prospects.”

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

Closing stock price prior to disclosures:

 

$7.21
Closing stock price the trading day after disclosures:

 

$6.06
One day stock price decrease (percentage) as a result of disclosures:

 

15.95%

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

 FIT Class Action FIT Lawsuit

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 December 31, 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 Fitbit 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:

FIT Class Action FIT Lawsuit

About Us

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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

Levi & Korsinsky Announces HON Class Action; HON Lawsuit

Levi & Korsinsky, LLP

Kanefsky v. Honeywell International, Inc., et al 2:18-cv-15536-WJM-MF — On October 31, 2018, investors sued Honeywell International, Inc., (“Honeywell” or the “Company”) In United States District Court for the District of New Jersey. The HON class action alleges that plaintiffs acquired Honeywell stock at artificially inflated prices between February 9, 2018 and October 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. For more information on the HON lawsuit, please contact us today!

Summary of the Allegations

Company Background

As a “multi-national conglomerate,” Honeywell (NYSE: HON) engages in the manufacturing of numerous commercial and consumer products, engineering services and aerospace systems.

Its history dates to 1885, when inventor Albert Butz patented the “furnace regulator and alarm.” Butz established the Butz Thermo-Electric Regulator Co., Minneapolis, in April 1886. That business eventually became the Minneapolis Heat Regulator Company, which in turn merged with Honeywell Heating Specialty Co., in 1927.

Today, Honeywell is based in Morris Plains, New Jersey, and has operations at approximately 1,300 sites in 70 countries. It also has more than 131,000 employees globally, including more than 22,000 engineers and 11,000 software developers.

Of special relevance here is Honeywell’s ownership of Bendix Friction Metals (“Bendix”) until 2014.  Bendix, which makes automotive, truck and industrial brakes, allegedly ignored known health hazards and used asbestos in its brake- and clutch-pad products until 2001.

Honeywell’s claims about its Bendix asbestos-related liability are at the crux of the October 31 complaint.

Summary of Facts

Honeywell and two of its 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 compliance policies during the Class Period.

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

The truth began to surface on August 23, 2018, when the Company revealed that its “Bendix asbestos-related liability is estimated to be $1,693 million [sic] as of June 30, 2018.” The Company also acknowledged that, “this is $1,083 [sic] million higher than the Company’s prior estimation.”

Then, in a quarterly report filed with the SEC on October 19, 2018, Honeywell disclosed that, “the SEC’s Division of Corporate Finance had reviewed Honeywell’s prior accounting for liability for unasserted Bendix-related asbestos claims…” The Company also revealed that it learned about the initiation of a related investigation by the SEC Division of Enforcement on September 13, 2018.

A closer look…

As alleged in the October 31 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements throughout the Class Period.

For instance, on a form filed with the SEC at the beginning of the Class Period, the Company stated in relevant part: “In connection with the recognition of liabilities for asbestos related matters, we record asbestos related insurance recoveries that are deemed probable.”

On another form filed with the SEC on April 20, 2018, Honeywell also said in relevant part: “We have valued Bendix pending and future claims using average resolution values for the previous five years.”

Finally, in a quarterly report filed with the SE on July 20, 2018, Honeywell reported that its asbestos related liabilities attributable to Bendix totaled $610 [sic] as of June 30, 2018.

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

Closing stock price prior to disclosures:

 

$155.19
Closing stock price the trading day after disclosures:

 

$153.47
One day stock price decrease (percentage) as a result of disclosures:

 

1.11%

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

 HON Lawsuit HON Class Action

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 December 31, 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 Honeywell 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:

HON Lawsuit HON Class Action

About Us

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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

Levi & Korsinsky Announced SYF Class Action; SYF Lawsuit

Levi & Korsinsky, LLP

Retail Wholesale Department Store Local 338 Retirement Fund v. Synchrony Financial, et al 3:18-cv-01818 — On November 2, 2018, investors sued Synchrony Financial (“Synchrony” or the “Company”) in United States District Court, District of Connecticut. Plaintiffs in the SYF class action allege that they acquired Synchrony stock at artificially inflated prices between October 21, 2016 and November 1, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon the Company’s alleged misconduct during that time. For more information on the SYF Lawsuit, please contact us today!

Summary of the Allegations

Company Background

The Company (NYSE: SYF) bills itself as “one of the nation’s premier consumer financial services companies.”

As such, it says it provides “a range of credit products through programs” it has created with “a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers” to help spur growth for its partners and afford financial flexibility to its customers.

Among other things, the Company issues “store branded credit cards,” from established retailers including but not limited to Lowe’s, Amazon and The Gap. According to the November 2 complaint, Synchrony is the largest provider of these “private-label” credit cards in the United States.

The Company, which says its roots in consumer finance can be traced back to 1932, is incorporated in Delaware and has corporate headquarters in Stamford, Connecticut. As of August 22, 2018, it had more than 740 million shares of stock outstanding.

Summary of Facts

Synchrony and two of its 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 its underwriting practices and the effects on its business from SEC filings and related material. By recklessly or knowingly doing so, they allegedly caused Synchrony stock to trade at artificially inflated prices during the time in question.

The truth initially surfaced on April 28, 2017, when the Company announced, “disappointing first quarter 2017 earnings driven by poor loan performance.” At the time, the Company revealed that it “would be setting aside over $1.3 billion in reserves to cover probable loan losses,” representing a dramatic increase in reserves compared to the prior quarter.

In the aftermath of these disclosures, which sent its stock price tumbling, the Company claimed that it “tightened” credit standards. However, the Company never told investors that this tactic damaged its partnerships with retailers, the most significant of which was Walmart.

In fact, the public didn’t become aware of the rift between Synchrony and Walmart until July 12, 2018, when news broke about the potential termination of the partnership. Then, on July 26, 2018, the media confirmed that Walmart had ended its relationship with Synchrony and chosen a competitor as its replacement.

Finally, on November 1, 2018, Walmart sued Synchrony “alleging that the Company deliberately underwrote the Walmart/Synchrony credit card program in a way that exposes the program to significant unique credit risk.” Walmart is purportedly seeking damages “in an amount… estimated to be no less than $800 million.”

A closer look…

As alleged in the November 2 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For example, in a presentation at an industry conference on November 3, 2016, the Company presented information indicating that it: “Focused on a Higher Quality Asset Base,” and maintained “Disciplined Underwriting” since “at least the third quarter of 2010 through the third quarter of 2016.”

Then, in an annual report filed with the SEC on February 23, 2017, Synchrony, “affirmed that it complied with critical accounting estimates in preparing its consolidated and combined financial statements, including in establishing allowance for loan losses, which requires the Company to make its best estimate of probable losses inherent in the portfolio.”

Finally, on an April 20, 2018 conference call held to discuss Synchrony’s earnings for the first quarter 2018, one of the Individual Defendants said in pertinent part: “We started to make refinements to our underwriting in the second half of 2016, and we continue to see the positive impact of those changes.”

During the same conference call, the second Individual Defendant also said the Company was “well entrenched” with its partners.

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

SYF Class Action SYF Lawsuit

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 January 2, 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 Synchrony 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:

SYF Class Action SYF Lawsuit

About Us

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.


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces ORM Merger Investigation; Owens Realty Acquisition

Levi & Korsinsky

November 14, 2018

NEW YORK, November 14, 2018 – Levi & Korsinsky, LLP announces an investigation into the sale of Owens Realty Mortgage, Inc. (“Owens Realty” or the “Company”) (NYSE American: ORM) to Ready Capital Corporation (NYSE: RC). Under the terms of the transaction, Owens Realty shareholders will receive 1.441 Ready Capital shares for each share of Owens Realty stock they own, based on a fixed exchange ratio subject to adjustments if the Company’s book value per share declines by more than three percent. Based on the closing price of Ready Capital stock on November 7, 2018, this represents a value of approximately $21.53 per share. To learn more about the ORM merger and your rights, go tohttps://www.zlk.com/mna/owens-realty-mortgage-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 Owens Realty merger investigation concerns whether the Board of Owens Realty breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Ready Capital is underpaying for Owens Realty shares, thus unlawfully harming Owens Realty 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces an Investigation of SIR Merger; Select Income REIT Acquisition

Levi & Korsinsky

November 13, 2018

NEW YORK, November 13, 2018 – Levi & Korsinsky, LLP is investigating the fairness of the sale of Select Income REIT (“Select Income” or the “Company”) (NASDAQGS: SIR) to Government Properties Income Trust. Under the terms of the transaction, Select Income shareholders will receive 1.04 shares of Government Properties shares and a special dividend of 0.502 of a share of Industrial Logistics Property Trust for each share of Select Income stock they own; this represents a value of approximately $17.54 per share. To learn more about the SIR merger and your rights, go tohttps://www.zlk.com/mna/select-income-reit 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 Select Income merger investigation concerns whether the Board of Select Income breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Government Properties is underpaying for Select Income shares, thus unlawfully harming Select Income 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Investigation of the ATHN Merger; athenahealth Acquisition

Levi & Korsinsky

NEW YORK, November 13, 2018 – Levi & Korsinsky, LLP announces an investigation into the fairness of the sale of athenahealth, Inc. (“athenahealth” or the “Company”) (NASDAQGS: ATHN) to an affiliate of Veritas Capital and Evergreen Coast Capital. Under the terms of the transaction, athenahealth shareholders will receive $135 per share; the transaction has a total approximate value of $5.7 billion in cash. To learn more about the ATHN merger and your rights, go tohttps://www.zlk.com/mna/athenahealth-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 athenahealth merger investigation concerns whether the Board of athenahealth breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether the affiliate of Veritas and Evergreen is underpaying for athenahealth shares, thus unlawfully harming athenahealth 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Investigation of the APTI Merger; Apptio Acquisition

Levi & Korsinsky

NEW YORK, November 13,  2018 – Levi & Korsinsky, LLP is investigating the sale of Apptio, Inc. (“Apptio” or the “Company”) (NASDAQGM: APTI) to Vista Equity Partners for $38.00 per share. To learn more about the APTI merger and your rights, go tohttps://www.zlk.com/mna/apptio-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 Apptio merger investigation concerns whether the Board of Apptio breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Vista Equity Partners is underpaying for Apptio shares, thus unlawfully harming Apptio 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Investigation of BBOX Merger; Black Box Acquisition

Levi & Korsinsky

NEW YORK, November 13, 2018 – Levi & Korsinsky, LLP is investigating the sale of Black Box Corporation (“Black Box” or the “Company”) (NASDAQGS: BBOX). Black Box is merging into a subsidiary of AGC Networks Ltd., AGC Networks Pte. Ltd. in Singapore (“AGC Singapore”), for $1.08 per share. To learn more about the BBOX merger and your rights, go tohttps://www.zlk.com/mna/black-box-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 Black Box merger investigation concerns whether the Board of Black Box breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether AGC Singapore is underpaying for Black Box shares, thus unlawfully harming Black Box 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action News

Levi & Korsinsky Announces AQUA Lawsuit; AQUA Class Action

Levi & Korsinsky, LLP

NEW YORK, November 8, 2018 – The following statement is being issued by Levi & Korsinsky, LLP: To: All persons or entities who purchased or otherwise acquired securities of Evoqua Water Technologies Corp. (“Evoqua”) (NYSE: AQUA) between November 6, 2017 and October 30, 2018. You are hereby notified that a AQUA class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information go to: https://www.zlk.com/pslra-1/evoqua-water-technologies-corp-loss-form?wire=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. For more information on the AQUA Lawsuit, please contact us today!

 

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Evoqua failed to successfully integrate its prior acquisitions; (2) Evoqua was experiencing supply chain disruptions influenced by tariffs and an extended delay on a large aquatics project; and (3) as a result, Evoqua’s public statements were materially false and misleading at all relevant times.

 

If you suffered a loss in Evoqua you have until January 7, 2019 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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Merger News

Levi & Korsinsky Announces Investigation Into ITG Merger

Levi & Korsinsky, LLP

NEW YORK, November 7, 2018 – The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Investment Technology Group, Inc. (“ITG” or the “Company”) (NYSE: ITG) stock prior to November 7, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of ITG to Virtu Financial, Inc. (NASDAQGS: VIRT) for $30.30 per share. To learn more about the action and your rights, go tohttps://www.zlk.com/mna/investment-technology-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. For more information on the ITG Merger, please contact us today!

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


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Merger News

Levi & Korsinsky Announces FNSR Merger; Finisar Acquisition

Levi & Korsinsky

NEW YORK, November 13, 2018 – Levi & Korsinsky is investigating the sale of Finisar Corporation (“Finisar” or the “Company”) (NASDAQGS: FNSR) to II-VI Incorporated (NASDAQGS: IIVI). Under the terms of the transaction, Finisar shareholders will receive $15.60 per share in cash and 0.2218x shares of II-VI common stock for a total approximate value of $26.00 per Finisar share. To learn more about the FNSR merger and your rights, go tohttps://www.zlk.com/mna/finisar-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 Finisar merger investigation concerns whether the Board of Finisar breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether II-VI Incorporated is underpaying for Finisar shares, thus unlawfully harming Finisar 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action News

Levi & Korsinsky Announces RYAAY Class Action; RYAAY Lawsuit

Levi & Korsinsky, LLP

NEW YORK, November 7, 2018 – The following statement is being issued by Levi & Korsinsky, LLP: To: All persons or entities who purchased or otherwise acquired American Depositary Shares of Ryanair Holdings plc (“Ryanair”) (NASDAQ: RYAAY) between May 30, 2017 and September 28, 2018. You are hereby notified that a RYAAY class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information go to: https://www.zlk.com/pslra-1/ryanair-holdings-plc-loss-form?wire=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. For more information on the RYAAY Lawsuit, please contact us!

 

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) the Company had experienced a breakdown in relations with its employees amidst their growing dissatisfaction with working conditions, lack of benefits, exploitative contracts and management hostility; (b) the Company’s pilots and/or cabin crews had sought union recognition or collectivization in several key markets and employees had internally expressed widespread discontent with the Company’s collective bargaining units; (c) the Company was experiencing elevated and increasing employee turnover, which had resulted in the loss of hundreds of qualified and skilled employees to competitor airlines; (d) the Company’s newly negotiated contracts had not ameliorated employee discontent or “locked away” employee wage growth for three or four years, but rather, defendants were aware that pilot and cabin crew contracts had to be reformulated to significantly increase pay and benefits, comply with local labor laws and provide other worker concessions to enable Ryanair to hire and retain sufficient qualified employees to meet operational targets; (e) because of the aforementioned, the Company was unable to hire sufficient pilots to meet expected demand and was thereby exposed to increased risk of flight cancellations, loss of reputational assets and increased costs from flight disruptions; (f) because of the aforementioned, the Company’s historical operating model and profit growth were not sustainable; and (g) the Company could not meet internal earnings expectations.

 

If you suffered a loss in Ryanair you have until January 7, 2019 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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action News

Levi & Korsinsky Announces TRVN Lawsuit; TRVN Class Action

Levi & Korsinsky, LLP

NEW YORK, November 6, 2018 – The following statement is being issued by Levi & Korsinsky, LLP: To: All persons or entities who purchased or otherwise acquired securities of Trevena, Inc. (“Trevena”) (NASDAQGS: TRVN) between May 2, 2016 and October 9, 2018. You are hereby notified that a TRVN class action lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania. To get more information go to: https://www.zlk.com/pslra-1/trevena-inc-loss-form?wire=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. For more information on the TRVN Lawsuit, please contact us today!

 

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (a) during its meetings with the FDA prior to the start of the Class Period, Trevena had been advised that the FDA did not agree with certain aspects of the design of the Phase III clinical trial of Olinvo, including the proposed dosing, the proposed primary endpoint and the proposed non-inferiority margin for comparing morphine to Olinvo; (b) unless Trevena demonstrated that Olinvo was at least equally effective to morphine in treating post-operative pain in the Phase III clinical trial, the FDA would be unwilling to consider any secondary benefits Olinvo might confer in terms of reduced opioid-related adverse effects (“ORAEs”); (c) the FDA disagreed with how the safety data was being compiled in the Phase II clinical trial; (d) because the FDA did not agree with major tenants of the design of the Phase III clinical trial, it was highly unlikely that the FDA would find the data obtained from that clinical trial sufficient to support Trevena’s NDA; (e) because the Phase III clinical trial data being derived would not likely be deemed sufficient to support the NDA for Olinvo, the Company would not be able to market Olinvo as soon as it was leading the market to expect, if ever; and (f) as a result of the foregoing, the Company was not on track to achieve the commercial sales revenues from Olinvo as soon as Defendants had led the market to expect during the Class Period, if ever.

 

If you suffered a loss in Trevena you have until December 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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Merger News

Levi & Korsinsky Investigates Fairness of FPB Merger

Levi & Korsinsky, LLP

NEW YORK, November 6, 2018 – The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased FPB Financial Corp. (“FPB” or the “Company”) (OTCMKTS: FPBF) stock prior to November 6, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of FPB to The First Bancshares, Inc. (NASDAQGM: FBMS). Under the terms of the transaction, FPB shareholders will receive 0.83 shares of First Bancshares common stock for each share of FPB stock they own, subject to adjustment dependent upon the average closing price of First Bancshares’ common stock in the period prior to the closing of the merger. To learn more about the action and your rights, go tohttps://www.zlk.com/mna/fpb-financial-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. For more information on the FPB Merger, please contact us today!

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


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Merger News

Levi & Korsinsky Announces Investigation Into BOJA Merger

Levi & Korsinsky, LLP

November 12, 2018

NEW YORK, November 6, 2018 – The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Bojangles’, Inc. (“Bojangles’” or the “Company”) (NASDAQGS: BOJA) stock prior to November 6, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Bojangles’ to Durational Capital Management LP and The Jordan Company, L.P. for $16.10 per share. To learn more about the action and your rights, go tohttps://www.zlk.com/mna/bojangles-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. For more information about the BOJA Merger, please contact us today!

The Bojangles’ merger investigation concerns whether the Board of Bojangles’ breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Durational and The Jordan Company are underpaying for Intersections shares, thus unlawfully harming Bojangles’ 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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action News

Levi & Korsinsky Has Announced A COST Class Action; COST Lawsuit

Levi & Korsinsky, LLP

NEW YORK, November 5, 2018 – The following statement is being issued by Levi & Korsinsky, LLP: To: All persons or entities who purchased or otherwise acquired common stock of Costco Wholesale Corporation (NASDAQGS: COST) between June 6, 2018, and October 25, 2018. You are hereby notified that Levi & Korsinsky has commenced the COST class action, Johnson v. Costco Wholesale Corporation (2:18-cv-01611), in the USDC for the Western District of Washington, Seattle Division. To get more information go tohttps://www.zlk.com/pslra-1/costco-wholesale-corporation-loss-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. For more information on the COST Lawsuit, please contact us today!

The complaint alleges that Costco misrepresented and failed to disclose adverse facts pertaining to the Company’s business, operations, and prospects, which were known to Defendants or recklessly disregarded by them. Specifically, Defendants failed to disclose that: (i) Costco lacked effective internal control over financial reporting; (ii) as a result of the foregoing, Defendants’ statements about Costco’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On October 4, 2018, Costco announces that “in its upcoming fiscal 2018 Annual Report on Form 10-K, it expects to report a material weakness in internal control. The weakness relates to general information technology controls in the areas of user access and program change-management over certain information technology systems that support the Company’s financial reporting processes. The access issues relate to the extent of privileges afforded users authorized to access company systems.” Following this news, shares of Costco fell from a close of $231.68 on October 4, 2018, to a close of $218.82 the following day.

If you suffered a loss in Costco you have until January 7, 2019 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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action News

Levi & Korsinsky Announces SYF Lawsuit; SYF Class Action

Levi & Korsinsky, LLP

NEW YORK, November 5, 2018 – The following statement is being issued by Levi & Korsinsky, LLP: To: All persons or entities who purchased or otherwise acquired securities of Synchrony Financial (“Synchrony”) (NYSE: SYF) between October 21, 2016 and November 1, 2018. You are hereby notified that a SYF Class Action Lawsuit has been commenced in the United States District Court for the District of Connecticut. To get more information go to: https://www.zlk.com/pslra-1/synchrony-financial-loss-form?wire=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. For more information on the SYF Lawsuit, please contact us today!

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: The complaint alleges that during the Class Period, Synchrony falsely represented that its consistent and disciplined underwriting practices had led to a higher quality loan portfolio than those of its competitors. In truth, Synchrony relaxed its underwriting standards and increasingly offered private-label credit cards to riskier borrowers to sustain growth. The truth about Synchrony’s credit standards began to be revealed on April 28, 2017, when the Company announced disappointing first quarter 2017 earnings driven by poor loan performance. Following this disclosure, the Company represented that it had tightened credit standards, but falsely characterized those underwriting changes as modest. In fact, the Company had made significant modifications to its underwriting policies, but concealed that these modifications were damaging its relationships with its retail partners, including Walmart.

If you suffered a loss in Synchrony you have until January 2, 2019 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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Merger News

Levi & Korsinsky Announces An Investigation Into The DWCH Merger

Levi & Korsinsky, LLP

NEW YORK, November 5, 2018 – The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Datawatch Corporation (“Datawatch” or the “Company”) (NASDAQCM: DWCH) stock prior to November 5, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Datawatch to Altair (NASDAQGS: ALTR) for $13.10 per share. To learn more about the action and your rights, go tohttps://www.zlk.com/mna/datawatch-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. For more information on the DWCH Merger, contact us today!

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


ALGN Class Action, ALGN Lawsuit

Merger News

Levi & Korsinsky Announces Investigation Into The INTX Merger

Levi & Korsinsky, LLP

NEW YORK, November 2, 2018 – The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Intersections Inc. (“Intersections” or the “Company”) (NASDAQGM: INTX) stock prior to October 31, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Intersections to WC SACD One Parent, Inc. for $3.68 per share. To learn more about the action and your rights, go tohttps://www.zlk.com/mna/intersections-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. For more information on the INTX Merger, please contact us today!

The Intersections merger investigation concerns whether the Board of Intersections breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether WC SACD One Parent, Inc. is underpaying for Intersections shares, thus unlawfully harming Intersections 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.


MCK Class Action, MCK Lawsuit, McKesson Class Action, McKesson Lawsuit

Class Action Reports

Levi & Korsinsky Announces MCK Class Action; MCK Lawsuit

Levi & Korsinsky, LLP

November 9, 2018

Evanston Police Pension Fund v. McKesson Corporation, et al 3:18-cv-06525 — On October 25, 2018, investors sued McKesson Corporation (“McKesson” or the “Company”) in United States District Court, Northern District of California. Plaintiffs in the MCK class action allege that they acquired McKesson stock at artificially inflated prices between October 24, 3013 and January 25, 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. For more information on the MCK Lawsuit, please contact us today!

Summary of the Allegations

Company Background

Founded in 1833 McKesson (NYSE:MCK) now has more than 76,000 employees and two primary divisions. Collectively, its business segments deliver “pharmaceutical and medical products and business services to retail pharmacies and institutional healthcare providers such as hospitals and health systems” throughout North America and globally.

According to the October 25 complaint, McKesson’s work as a pharmaceutical wholesaler generates the bulk of the Company’s income. In this capacity, McKesson “purchases drugs in bulk directly from manufacturers and then sells and distributes those drugs to pharmacy networks, hospitals and independent pharmacies.”

Summary of Facts

McKesson and two of its current and/or former officers (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 McKesson’s participation in certain activities and the efficacy of its internal controls over financial reporting from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused McKesson stock to trade at artificially inflated prices during the time in question.

The truth emerged after trading ended on January 25, 2017. At that time, McKesson announced “disappointing financial results for the third quarter of its fiscal year 2017.” Of importance is this context is that McKesson reported “lower than expected North American Pharmaceutical Distribution and Services business unit revenue of $41.7 billion” on the Current Report (Form 8-K) it filed with the SEC.

On another form filed with the SEC that day, McKesson reiterated the financial results it provided on the first firm and reported its financial and operating results for the third quarter of its fiscal year 2017. As alleged in the October 25 complaint, the “poor financial results were due to the materialization of the risk that the price fixing scheme would unravel and lead to materially lower revenues and profits.”

A closer look…

According to the October 25 complaint, the Company “participated in a price-fixing and anticompetitive scheme in the sale and distribution of generic pharmaceutical drugs with manufacturers and wholesalers” throughout the Class Period.”

The complaint also alleges that the Company and/or Individual Defendants repeatedly made false and misleading public statements during that time.

For example, a form that the Company filed with the SEC at the beginning of the Class Period contained signed certifications in which the Individual Defendants attested to “the accuracy of financial reporting, the disclosure of any material changes to the Company’s internal control over financial reporting and the disclosure of fraud – or lack thereof.”

Then, on a form filed with the SEC on May 14, 2014, McKesson mentioned its “Code of Conduct” and specifically noted that it was “applicable to all employees, officers, and directors,” and that it was available on the Company’s website.

As set forth in the complaint, the Code of Conduct employed by McKesson at that time expressly stated, “This Code applies globally to all employees, officers and directors – regardless of position or tenure. We also seek business partners who share our values and commitment to doing business with integrity.”

The Code of Conduct employed by McKesson when it filed yet another form with the SEC on May 12, 2015, also contained stipulations to “Fair Competition.” It stated in pertinent part: “Laws in many of the places where we do business are intended to protect fair an [sic] open competition. To comply with these laws you should not discuss, coordinate, or agree with a competitor to fix prices, split or ‘fix’ bids, refuse to deal with (or boycott) a supplier or customer, or otherwise limit distribution channels.”

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

Closing stock price prior to disclosures:

 

$151.10
Closing stock price the trading day after disclosures:

 

$138.55
One day stock price decrease (percentage) as a result of disclosures:

 

8.31%

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

 MCK Class Action MCK Lawsuit

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 December 26, 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 GM 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:

 MCK Class Action MCK Lawsuit

About Us

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 the MCK Class Action Lawsuit, or any of our other institutional services, please contact us.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

Levi & Korsinsky Announces Bank OZK Class Action; Bank OZK Lawsuit

Levi & Korsinsky, LLP

Colbert v. Bank OZK et al 4:18-cv-00793-JM — On October 26, 2018, investors sued Bank OZK (“Bank OZK” or the “Company”) in United States District Court, Eastern District of Arkansas. Plaintiffs in the Bank OZK class action allege that they acquired Bank OZK stock at artificially inflated prices between February 19, 2016 and October 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. For more information on the Bank OZK Lawsuit, please contact us today!

Summary of the Allegations

Company Background

The Company (NASDAQ: OZK) was known as the Bank of the Ozarks and traded under the ticker symbol “OZRK” until July 16, 0218.

It is a “retail and commercial bank with several subsidiaries focused on investment securities, development of real estate, and ownership of private aircraft.”

According to its website, Bank OZK had assets totaling more than $22 billion, deposits totaling more than $17.8 billion and total loans in the amount of $16.73 billion as of and for the nine months ended September 30, 2018. Its year-to-date income at that time totaled more than $302 million.

Bank OZK is incorporated under Arkansas laws and maintains its principal executive offices in Little Rock. Its history dates to 1903, when it was founded as a small community bank in Jasper, Arkansas.  It opened another bank in Ozark, Arkansas, 34 years later. In all, it now has more than 250 offices in 10 states.

Summary of Facts

Bank OZK and two of its 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 the adequacy of Bank OZK’s internal controls to assess credit risk and ancillary issues from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Bank OZK stock to trade at artificially inflated prices during the time in question.

The truth began to emerge on October 18, 2018, when the Company issued a press release announcing its third quarter 2018 financial results. In it, Bank OZK disclosed significant decreases in both net income and diluted earnings per common share for the third quarter of 2018 compared to the same period for 2017.

More importantly, the Company revealed that it had “incurred combined charge-offs of $45.5 million on two Real Estate Specialties Group (‘RSEG’) credits” associated with two unrelated projects in South Carolina and North Carolina. The Company added that the projects had been in the Bank’s portfolio “since 2007 and 2008, and were previously classified as substandard.”

Then, on a conference call with analysts and investors held the next day, one of the Individual Defendants acknowledged that, “one credit became substandard in the second quarter of 2017 and the other in the fourth quarter of 2017.”

A closer look…

As alleged in the October 26 complaint, the Company and/or Individual Defendants repeatedly made false and 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 identified failure to properly manage its credit risk as something that could jeopardize its business. It said in relevant part: “Although we attempt to minimize our credit risk through prudent loan and lease underwriting procedures and by monitoring concentrations of our loans and leases, there can be no assurance that these underwriting and monitoring procedures will reduce these risks.”

The Company reported decreases in its substandard loans on forms filed with the SEC on May 6, 2016; August 8, 2016; November 8, 2016; May 5, 2017; November 7, 2017; and May 8, 2018. However, it also reported increases in its substandard loans on forms filed with the SEC on March 1, 2017; August 8, 2017; February 27, 2018; and August 7, 2018.

What the Company failed to disclose, however, was that it “lacked adequate internal controls to assess credit risk,” and that this meant some of its loans “posed an increased risk of loss.” The Company also failed to disclose, “certain substandard loans were reasonably likely to lead to charge-offs.”

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

Closing stock price prior to disclosures:

 

$34.85
Closing stock price the trading day after disclosures:

 

$25.52
One day stock price decrease (percentage) as a result of disclosures:

 

26.77%

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

 bank ozk lawsuit bank ozk class action

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 December 26, 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 Bank OZK 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:

Bank OZK Class Action Bank OZK Lawsuit

About Us

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.


DY Lawsuit DY Class Action

Class Action Reports

Levi & Korsinsky Announces DY Class Action; DY Lawsuit

Levi & Korsinsky, LLP

Tung v. Dycom Industries, Inc., et al 9:18-cv-81448-RLR — On October 25, 2018, investors sued Dycom Industries, Inc. (“Dycom” or the “Company”) in United States District Court, Southern District of Florida. The DY Class Action alleges that plaintiffs acquired Dycom stock at artificially inflated prices between November 20, 2017 and August 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. For more information about the DY Lawsuit, please contact us today!

Summary of the Allegations

Company Background

Dycom (NYSE: DY) engages in the provision of “specialty contracting services” through its subsidiaries throughout the United States, and in Canada.

These include: program management, engineering, construction, maintenance and installation services for telecommunications providers; underground facility locating services for various utilities; and “other construction and maintenance services” for electric and gas utilities.

Dycom is incorporated in Florida, and its principal offices are located in Palm Beach Gardens, Florida. According to its website, Dycom has more than 14,000 employees and 500 field offices.

According to the October 25 complaint, the Company had more than 31.2 million shares of common stock outstanding as of August 29, 2018.

Summary of Facts

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

Specifically, they are accused of omitting truthful information about the Company’s reliance on permitting and tactical considerations for large projects, and ancillary issues from SEC filings and related materials. By knowingly or recklessly doing so, they allegedly caused Dycom stock to trade at artificially inflated prices during the time in question.

The truth emerged in a series of events that transpired on May 22, 2018 and August 13, 2018. Before the market opened on May 22, Dycom issued a press release in which it announced that it was “revising is financial guidance for the 2019 fiscal year ending January 26, 2019 to reflect the actual results for the quarter ended April 28, 2018 and the anticipated timing of activity on large customer programs and the related impacts on revenues and margins.”

Then, on August 13, Dycom issued another press release in which it revised its guidance for the “financial and operating results for the second fiscal quarter and six months ended July 28, 2018,” and announced “preliminary revenues and results for the second quarter below the previous guidance.”

During a conference call to discuss these matters, one of the Individual Defendants said in pertinent part: “These preliminary results were impacted by large scale deployments that were slower than expected during the quarter, due to customer timing and tactical considerations and margins that were pressured from under-absorption of labor and field costs to the lower revenue level.”

A closer look…

As alleged in the October 25 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For example, during a November 20, 2017 conference call to discuss the Company’s financial and operating results for the first fiscal quarter ended October 28, 2017, one of the Individual Defendants said in pertinent part: “Engineering and construction activity is expected to increase throughout the balance of our second quarter and accelerate into calendar 2018. Customers are continuing to reveal with specificity new multi-year initiatives that are being planned and managed on a market-by-market basis.”

On the same conference call, the same Individual Defendant also said in relevant part: “As with prior initiations of large-scale network deployments, we expect some normal timing volatility and customer spending modulations as network deployment strategies evolve and tactical considerations, primarily permitting impact timing.”

Finally, during the same call, the second Individual Defendant also addressed the impact of new large projects on the gross margin, saying in relevant part: “We expect gross margin percentage to be in line or slightly better compared to the April 2017 quarterly margin, reflecting the expected mix of work activity and improving performance as services for large customer programs begin to accelerate.”

What Dycom failed to disclose, however was that its large projects were “highly dependent on permitting and tactical considerations,” and that it was “facing great uncertainties related to permitting issues,” and the resulting exposure to “near-term margin pressure and absorption issues.”

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

Closing stock price prior to disclosures:

 

$89.71
Closing stock price the trading day after disclosures:

 

$68.09
One day stock price decrease (percentage) as a result of disclosures:

 

24.10%

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

DY Lawsuit DY Class Action 

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 December 24, 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.

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:

DY Lawsuit DY Class Action

About Us

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.


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Newfield Merger Investigation; NFX Acquisition

Levi & Korsinsky

November 8, 2018

NEW YORK, November 8, 2018 – Levi & Korsinsky, LLP announces an investigation concerning the fairness of the sale of Newfield Exploration Company (“Newfield” or the “Company”) (NYSE: NFX) to Encana Corporation (NYSE: ECA). Under the terms of the transaction, Newfield shareholders will receive 2.6719 Encana shares for each share of Newfield stock they own. The transaction is valued at approximately $5.5 billion, with Encana assuming $2.2 billion of Newfield net debt. To learn more about the Newfield merger investigation and your rights, go tohttps://www.zlk.com/mna/newfield-exploration-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 Newfield merger investigation concerns whether the Board of Newfield breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Encana Corporation is underpaying for Newfield shares, thus unlawfully harming Newfield 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces LSC Communications Merger Investigation; LKSD Acquisition

Levi & Korsinsky

NEW YORK, November 8, 2018 – Levi & Korsinsky, LLP announces an investigation has commenced into the fairness of the sale of LSC Communications, Inc. (“LSC Communications” or the “Company”) (NYSE: LKSD) to Quad/Graphics, Inc. (“Quad”) (NYSE: QUAD). Under the terms of the transaction, LSC Communications shareholders will receive 0.625 shares of Quad Class A common stock for each share of LSC Communications stock they own. The transaction has a total approximate value of $1.4 billion, including refinancing of LSC Communications’ debt. To learn more about the LKSD acquisition and your rights, go tohttps://www.zlk.com/mna/lsc-communications-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 LSC Communications merger investigation concerns whether the Board of LSC Communications breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Quad is underpaying for LSC Communications shares, thus unlawfully harming LSC Communications 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces Align Technology Class Action; ALGN Lawsuit

Levi & Korsinsky

NEW YORK, November 8, 2018 – Levi & Korsinsky, LLP announces a class action has commenced on behalf of Align Technology, Inc. (“Align Technology”) (NASDAQGS: ALGN) shareholders who purchased shares between July 25, 2018 and October 24, 2018. You are hereby notified that the ALGN class action lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information about the Align Technology lawsuit go to: https://www.zlk.com/pslra-1/align-technology-inc-loss-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 ALGN lawsuit alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company would offer higher discounts to promote Invisalign; (2) the promotions would materially impact revenue; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

On October 24, 2018, Align Technology issued a press release announcing its Q3 2018 financial results. Therein, the Company disclosed a more than 6% decrease in its Invisalign Average Selling Price (“ASP”). On the same day, the Company also announced that its Chief Marketing Officer would “reduce his responsibilities and transition to a part-time position.” On this news, Align Technology’s share price shares fell $58.76 to close at $232.07 on October 25, 2018, thereby injuring investors.

If you suffered a loss in Align Technology you have until January 4, 2019 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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces India Globalization Class Action; IGC Lawsuit

Levi & Korsinsky

NEW YORK, November 8, 2018 – Levi & Korsinsky, LLP announces a class action has commenced in the USDC Eastern District of New York on behalf of India Globalization Capital Inc. (“India Globalization”) (NYSE American: IGC) who purchased shares between October 25, 2017 and October 29, 2018. To get more information about the IGC class action go to: https://www.zlk.com/pslra-1/india-globalization-capital-inc-loss-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 IGC lawsuit alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) India Globalization’s business model was in a state of change in order to lure potential blockchain and cannabis investors; (2) India Globalization had overstated the benefits of its relationships with manufacturers, partners, and distributors in order to inflate the Company’s potential commercial success in the blockchain and cannabis markets; (3) as a result, the NYSE delisted India Globalization’s shares from their exchange; and (4) consequently, Defendants’ statements about India Globalization’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.  On October 29, 2018 India Globalization announced that NYSE Regulation would begin the process of delisting the Company and trading would halt immediately.

If you suffered a loss in India Globalization you have until January 2, 2019 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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Electro Scientific Merger Investigation; ESIO Acquisition

Levi & Korsinsky

NEW YORK, November 8, 2018 – Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Electro Scientific Industries, Inc. (“Electro Scientific” or the “Company”) (NASDAQGS: ESIO) to MKS Instruments, Inc. (NASDAQGS: MKSI). Under the terms of the transaction, Electro Scientific shareholders will receive $30 per share. To learn more about the ESIO merger investigation and your rights, go tohttps://www.zlk.com/mna/electro-scientific-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 Electro Scientific merger investigation concerns whether the Board of Electro Scientific breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether MKS Instruments, Inc. is underpaying for Electro Scientific shares, thus unlawfully harming Electro Scientific 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces WildHorse Merger Investigation; WRD Acquisition

Levi & Korsinsky

NEW YORK, November 8, 2018 – Levi & Korsinsky, LLP announces an investigation into the fairness of the sale of WildHorse Resource Development Corporation  (NYSE: WRD) to Chesapeake Energy Corporation (NYSE: CHK). Under the terms of the transaction, WildHorse shareholders may elect to receive, per share, either (a) 5.989 shares of Chesapeake common stock or (b) a combination of 5.336 shares of Chesapeake common stock and $3 in cash. Investment funds managed by NGP Energy Capital Management, LLC have entered into an agreement in support of the transaction. To learn more about the WRD merger investigation and your rights, go tohttps://www.zlk.com/mna/wildhorse-resource-development-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 WildHorse merger investigation concerns whether the Board of WildHorse breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Chesapeake Energy Corporation is underpaying for WildHorse shares, thus unlawfully harming WildHorse 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Investigation of Red Hat Merger; RHT Acquisition

Levi & Korsinsky

NEW YORK, November 8, 2018 – Levi & Korsinsky, LLP announces an investigation into the fairness of the sale of Red Hat, Inc. (“Red Hat” or the “Company”) (NYSE: RHT) to IBM (NYSE: IBM) for $190 per share. To learn more about the RHT merger investigation and your rights, go tohttps://www.zlk.com/mna/red-hat-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 Red Hat merger investigation concerns whether the Board of Red Hat breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether IBM is underpaying for Red Hat shares, thus unlawfully harming Red Hat 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Penn Virginia Merger Investigation; PVAC Merger

Levi & Korsinsky

November 5, 2018

NEW YORK, November 5, 2018 – Levi & Korsinsky, LLP announces an investigation into the fairness of the sale of Penn Virginia Corporation (NASDAQGS: PVAC) to Denbury Resources Inc. (NYSE: DNR). Under the terms of the transaction, Penn Virginia shareholders will receive 12.4 shares of Denbury common stock and $25.86 in cash for each share of Penn Virginia common stock they own; Penn Virginia shareholders may elect to receive all cash, all stock, or a combination of cash and stock, subject to proration. Based on the closing price of Denbury shares on October 26, 2018, this represents a value of $79.80 per share. To learn more about the Penn Virginia merger and your rights, go tohttps://www.zlk.com/mna/penn-virginia-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 Penn Virginia merger investigation concerns whether the Board of Penn Virginia breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Denbury Resources is underpaying for Penn Virginia shares, thus unlawfully harming Penn Virginia 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces Jianpu Technology Lawsuit; JT Class Action

Levi & Korsinsky

NEW YORK, November 5, 2018 – Levi & Korsinsky, LLP announces a class action on behalf of holders of American Depositary Shares of Jianpu Technology Inc. (“Jianpu”) (NYSE: JT) who purchased shares pursuant and/or traceable to Jianpu’s initial public offering on or about November 16, 2017. You are hereby notified that the Jianpu lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information about the JT class action go to: https://www.zlk.com/pslra-1/jianpu-technology-inc-loss-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 complaint alleges that the Company’s IPO offering materials contained inaccurate statements of material fact and/or omitted material information required to be disclosed in order to make such statements not misleading, including failure to disclose that the China Banking Regulatory Commission and three other Chinese regulators had issued rules in 2016 requiring peer-to-peer lending companies to appoint qualified banking institutions as custodians and disclose their use of deposits. On November 21, 2017, news outlets reported that China’s Financial Stability and Development Committee (“FSDC”) had issued an urgent notice to provincial governments urging them to suspend regulatory approval of new internet micro-loan companies. Following this news, Jianpu’s shares fell over 38% in three days and closed at $4.90 per share on November 24, 2017.

If you suffered a loss in Jianpu you have until December 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.

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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces Bank OZK Lawsuit; OZK Class ACtion

Levi & Korsinsky

November 2, 2018

NEW YORK, November 2, 2018 – Levi & Korsinsky, LLP announces the commencement of a class action on behalf of all persons or entities who purchased or otherwise acquired securities of Bank OZK (“Bank OZK”) (NASDAQGS: OZK) between February 19, 2016 and October 18, 2018. You are hereby notified that the OZK class action lawsuit has been commenced in the United States District Court for the Eastern District of Arkansas. To get more information about the Bank OZK lawsuit go to: https://www.zlk.com/pslra-1/bank-ozk-loss-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 OZK lawsuit alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company lacked adequate internal controls to assess credit risk; (2) as a result, certain of the Company’s loans posed an increased risk of loss; (3) certain substandard loans were reasonably likely to lead to charge-offs; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.   On October 18, 2018, the Company reported that it had “incurred combined charge-offs of $45.5 million on two Real Estate Specialties Group credits” that had previously been classified as substandard. On this news, the Company’s share price fell $9.33 per share to close at $25.52 per share on October 19, 2018.

If you suffered a loss in Bank OZK you have until December 26, 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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Commences Class Action on Behalf of Dycom Industries Shareholders; DY Lawsuit

Levi & Korsinsky

NEW YORK, November 2, 2018 – Levi & Korsinsky has commenced the class action Tung v. Dycom Industries, Inc. (Case No. 9:18-cv-81448-RLR) in the USDC for the Southern District of Florida on behalf of investors who purchased or otherwise acquired common stock of Dycom Industries, Inc. (NYSE: DY) between November 20, 2017 and August 10, 2018. . To get more information about the DY class action go tohttps://www.zlk.com/pslra-1/dycom-industries-inc-loss-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 Dycom class action alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Dycom’s large projects were highly dependent on permitting and tactical considerations, (ii) Dycom was facing great uncertainties related to permitting issues; (iii) said uncertainties would expose Dycom to near-term margin pressure and absorption issues, and (iv) as a result of the foregoing, Defendants’ statements about Dycom’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

If you suffered a loss in Dycom you have until December 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.

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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free:  (877) 363-5972

Fax: (212) 363-7171

www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces Honeywell Lawsuit; HON Class Action

Levi & Korsinsky

NEW YORK, November 2, 2018 – Levi & Korsinsky, LLP announces a class action on behalf of shareholders who purchased or otherwise acquired securities of Honeywell International Inc. (“Honeywell”) (NYSE: HON) between February 9, 2018 and October 19, 2018. You are hereby notified that the HON class action lawsuit has been commenced in the United States District Court for the District of New Jersey. To get more information go to: https://www.zlk.com/pslra-1/honeywell-international-inc-loss-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 HON class action alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Honeywell’s Bendix Friction Materials (“Bendix”) asbestos-related liability was greater than initially reported; (2) the Company maintained improper accounting practices in connection with its Bendix asbestos-related liability; and (3) as a result, Honeywell’s public statements were materially false and misleading at all relevant times.

Honeywell previously owned Bendix, which used asbestos in its brake- and clutch-pad products until 2001; the Company sold Bendix in 2014. On August 23, 2018, Honeywell announced it had “revised its method for reasonably estimating its liability for unasserted Bendix asbestos-related claims by considering the epidemiological projections through 2059 of future incidence of Bendix asbestos-related disease. Using this method, the Company’s Bendix asbestos-related liability is estimated to be $1,693 million as of June 30, 2018. This is $1,083 million higher than the Company’s prior estimation which applied a five-year horizon when estimating the liability for unasserted Bendix asbestos-related claims. The Bendix asbestos-related insurance assets are estimated to be $187 million as of June 30, 2018, which is $65 million higher than the Company’s prior estimate.”

If you suffered a loss in Honeywell you have until December 31, 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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces JetPay Merger Investigation; JTPY Acquisition

Levi & Korsinsky

Levi & Korsinsky, LLP has commenced an investigation concerning the sale of JetPay Corporation (“JetPay” or the “Company”) (NASDAQCM: JTPY) to NCR Corporation (NYSE: NCR) for $5.05 per share. To learn more about the JTPY merger and your rights, go tohttps://www.zlk.com/mna/jetpay-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 JetPay merger investigation concerns whether the Board of JetPay breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether NCR Corporation is underpaying for JetPay shares, thus unlawfully harming JetPay 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


CWH Class Action CWH Lawsuit

Class Action Reports

CWH Class Action: Levi & Korsinsky Announces CWK Lawsuit

Levi & Korsinsky, LLP

October 31, 2018

Ronge v. Camping World Holdings, Inc., et al 1:18-cv-07030 — On October 19, 2018, investors sued Camping World Holdings, Inc., (“Camping World” or the “Company”) in United States District Court, Northern District of Illinois Eastern Division. Plaintiffs in the CWH class action allege that they acquired Camping World stock at artificially inflated prices between March 8, 2017 and August 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. For more information on the CWH lawsuit, please contact us today!

Summary of the Allegations

Company Background

The Company (NYSE: CWH) bills itself as “the leading outdoor and camping retailer.” As such, Camping World sells “an extensive assortment” of recreational vehicles (“RV”s) along with related RV and camping gear.

In addition to providing RV maintenance and repair services, Camping World claims that it offers “the industry’s broadest and deepest range of services, protection plans, products and resources.”

Camping World has been in business for more than 50 years and maintains its headquarters in Lincolnshire, Illinois. According to its website, it has more than 135 retail locations in 36 states and a “comprehensive e-commerce platform.”

Summary of Facts

Camping World, three of its senior officers and/or directors (the “Individual Defendants”), and a private equity firm and an investment adviser (the “Crestview Defendants”) are now accused of deceiving investors by lying and withholding critical information about the Company’s business practices and financial condition during the Class Period.

Specifically, they are accused of omitting truthful information about certain financial results and certain issues stemming from its acquisition of Gander Stores, from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Camping World stock to trade at artificially inflated prices during the time in question.

The truth emerged in a series of events beginning during a three-day period between February 27 and March 1, 2018. That’s when the Company reveled “a host of accounting errors and the need to delay the filing of its 2017 annual financial report.”

Then, on a form filed with the SEC on March 13, 2018, the Company admitted that it identified some “material weaknesses” in its internal controls over financial reporting. Due to these deficiencies, the Company said its internal controls over financial reporting were not effective as of December 31, 2017. On the same form, the Company also acknowledged that its disclosure controls and procedures were not effective as of December 31, 2016, March 31, 2017, June 30, 2017, September 30, 2017 and December 31, 2017.

On May 8, 2018, Camping World also reported “disappointing financial results for the quarter ended March 31, 2018.”

Everything came to a head on August 7, 2018, when the Company again reported “disappointing financial results,” this time for the quarter ended June 30, 2018. To make matters worse, the Company also admitted that, “problems in its Gander operations were more extensive than previously disclosed.”

A closer look…

As alleged in the October 19 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For example, in a May 1, 2017 press release announcing that it was the winning bidder at a bankruptcy auction for “certain assets of Gander and its Overton’s boating business,” the Company stated in relevant part: “While we are obligated to assume a minimum of seventeen leases, our designation rights will allow us to operate stores and retain employees at a number to maximize profitability.”

Then, in a follow-up press release issued on May 8, 2017, the Company said in pertinent part: “As part of the Agreement, Camping World obtained the right to designate any real estate leases for assignment to Camping World or other third parties and initially plans to operate stores that it believes to have a clear path to profitability.”

Finally, in a press release issued January 4, 2018, the Company again asserted that the (Gander) stores would be operated with “a clear path to profitability.”

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

Closing stock price prior to disclosures:

 

$22.21
Closing stock price the trading day after disclosures:

 

$19.04
One day stock price decrease (percentage) as a result of disclosures:

 

14.27%

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

CWH Class Action CWH Lawsuit 

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 December 18, 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 Camping World 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:

CWH Class Action CWH Lawsuit

About Us

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 today.


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces StitchFix Lawsuit; SFIX Class Action

Levi & Korsinsky

October 30, 2018

NEW YORK, October 30, 2018 – Levi & Korsinsky, LLP announces a class action has commenced on behalf of all persons or entities who purchased or otherwise acquired securities of Stitch Fix, Inc. (“Stitch Fix”) (NASDAQ: SFIX) between June 8, 2018 and October 1, 2018. You are hereby notified that the SFIX securities class action has been commenced in the United States District Court for the Northern District of California. To get more information about the StitchFix class action go to: https://www.zlk.com/pslra-1/stitch-fix-inc-loss-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 SFIX lawsuit alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Stitch Fix’s active client growth had slowed to a crawl; (2) Stitch Fix had completely shut down its television advertising campaign for 10 of the 13 weeks in fourth quarter 2018, dramatically decreasing the number of new active client additions; and (3) as a result, the Company’s current business metrics and financial prospects were not as strong as it had led the market to believe during the Class Period.

If you suffered a loss in Stitch Fix you have until December 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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces Huazhu Lawsuit, HTHT Class Action

Levi & Korsinsky

NEW YORK, October 30, 2018 – Levi & Korsinsky announces a class action on behalf of all persons or entities who purchased or otherwise acquired securities of Huazhu Group Ltd (“Huazhu”) (NASDAQ: HTHT) between May 14, 2018 and August 28, 2018. You are hereby notified that the HTHT class action lawsuit has been commenced in the United States District Court for the Central District of California. To get more information about the Huazhu lawsuit go to: https://www.zlk.com/pslra-1/huazhu-group-limited-loss-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 Huazhu lawsuit alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company lacked adequate security measures to protect customer information; (2) as a result of the foregoing, the Company would be susceptible to increased litigation risk and higher expenses; (3) as a result of the foregoing, the Company’s goodwill would potentially suffer, leading to lower revenues; and (4) as a result of the foregoing, Defendants’ positive 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 Huazhu you have until December 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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces AbbVie Lawsuit; ABBV Class Action

Levi & Korsinsky

NEW YORK, October 30, 2018 – Levi & Korsinsky announces a class action on behalf of all persons or entities who purchased or otherwise acquired securities of AbbVie Inc. (“AbbVie”) (NYSE: ABBV) between October 25, 2013 and September 18, 2018. You are hereby notified that the ABBV class action lawsuit has been commenced in the United States District Court for the Central District of California. To get more information about the AbbVie class action go to: https://www.zlk.com/pslra-1/abbvie-inc-loss-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 complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) AbbVie’s strategy to increase the sales growth of its blockbuster drug, HUMIRA, was through illegal kickbacks and unlawful sales and marketing tactics; (2) such practices would lead to heightened scrutiny by State governments and agencies; and (3) as a result, defendants’ public statements were materially false and misleading at all relevant times.

If you suffered a loss in AbbVie you have until November 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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

GOOG Class Action; Levi & Korsinsky Announces GOOG Lawsuit

Levi & Korsinsky, LLP

October 24, 2018

Wicks v. Alphabet, Inc., et al 3:18-cv-06245-JSW — On October 11, 2018, investors sued Alphabet, Inc., (Google, Alphabet, GOOG, or the Company) in United States District Court, Northern District of California. The GOOG class action alleges that plaintiffs acquired Alphabet stock at artificially inflated prices between April 23, 2018 and October 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. For more information about the GOOG Lawsuit, contact us today!

Summary of the Allegations

Company Background

According to its website, Alphabet (NASDAQ: GOOG) is “mostly a collection of companies.” Of all of its subsidiaries, Google, Inc. (“Google”) is the largest and best known.

Among other things, Alphabet operates a social networking platform through Google. This platform, called Google+, facilitates communications between users and their families, friends and co-workers. As on similar social media platforms, Google+ users can supposedly control access to personal information through privacy settings.

The Company’s alleged failure to disclose certain information related to Google+ user privacy and its ability to safeguard related material is at the crux of the October 11 complaint.

Summary of Facts

Alphabet, two of its senior officers and Google’s CEO (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 the failure of its security measures and consequences of said failure from SEC filings and related material. By recklessly or knowingly doing so, they allegedly caused Alphabet stock to trade at artificially inflated prices during the time in question.

The truth emerged in an October 8, 2018, article published by The Wall Street Journal. Using information provided by “people briefed on the incident” and “documents reviewed,” the Journal reported that, “in March 2018, Google discovered a software glitch in its Google+ social network that had exposed users’ personal data to third parties, but ‘opted not to disclose the issue… in part because of fears that doing so would draw regulatory scrutiny and cause reputational damage.’”

A closer look…

As alleged in the October 11 complaint, the Company and/or Individual Defendants repeatedly made false and 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 discussed certain risk factors, saying in pertinent part: “Privacy concerns relating to our technology could damage our reputation and deter current and potential users or customers from using our products and services. If our security measures are breached resulting in the improper use and disclosure of user data, or if our services are subject to attacks that degrade or deny the ability of users to access our products and services, our products and services may be perceived as not being secure, users and customers may curtail or stop using our products and services, and we may incur significant legal and financial exposure.”

Then, on a form filed with the SEC on April 23, 2018, the Company said in pertinent part: “There have been no material changes to our risk factors since our Annual Report on Form 10-K for the year ended December 31, 2017.”

The Company reiterated its claim about the lack of material changes to its risk factors on a form filed with the SEC on July 23, 2018.

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

Closing stock price prior to disclosures:

 

$1,148.97
Closing stock price two trading days after disclosures:

 

$1,081.22
Two day stock price decrease (percentage) as a result of disclosures:

 

5.9%

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

 GOOG Lawsuit, GOOG Class Action, Google Class Action, Google Lawsuit, Alphabet Class Action, Alphabet Lawsuit

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 December 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 Alphabet 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:

GOOG Lawsuit, GOOG Class Action, Google Class Action, Google Lawsuit, Alphabet Class Action, Alphabet Lawsuit

About Us

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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

SFIX Lawsuit; SFIX Class Action Announced by Levi & Korsinsky

Levi & Korsinsky, LLP

Sawicki v. Stitch Fix, Inc., et al 3:18-cv-06208-JD — On October 11, 2018, investors sued Stitch Fix, Inc. (“Stitch Fix” or the “Company”) in United States District Court, Northern District of California. Plaintiffs in the SFIX class action allege that they acquired Stich Fix stock at artificially inflated prices between June 8, 2018 and October 1, 2018). 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 SFIX lawsuit, please contact us today.

 

Summary of the Allegations

Company Background

The Company (NASDAQ: SFIX) is a self-described “personal style service for men and women that evolves with your tastes, needs and lifestyle.”

Here’s how it works. Users visit the Company’s website, where they provide information about the types of clothes they like, the sizes they need, and their budgets on forms called “Style Profiles.” The customers then choose when they would like to get their package(s) and pay a specified fee, which is “applied as a credit” toward anything they keep from the shipment. Once they receive their shipment(s), customers have three days in which to decide what to keep and what to return (if anything). Customers are only charged once they “check out” on the Company’s website or app, and those who choose to keep everything receive a significant discount.

The Company’s claims about the number and growth rate of its “active clients” are at the crux of the October 11 complaint.

Summary of Facts

Stitch Fix and three of its 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 its “active clients” and commitment to TV advertising from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Stitch Fix stock to trade at artificially inflated prices during the time in question.

The truth emerged when the Company announced its financial results for the fourth quarter of 2018 after the market closed on October 1, 2018. Stich Fix then admitted that it had, “signed up far fewer than expected new active clients during 4Q2018, which had ended more than two months earlier, on July 28, 2018.” The Company also “shocked the market by disclosing that Stitch Fix’s active client count was virtually flat, coming in at 2.7 million.”

A closer look…

As alleged in the October 11 complaint, Stitch Fix and/or the Individual defendants 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, one of the Individual Defendants said in pertinent part: “Our third quarter results demonstrate continued positive momentum for Stitch Fix and the power of our unique ability to deliver personalized service at scale.”

In a letter to shareholders also issued and filed with the SEC at the beginning of the Class Period, the Company reiterated claims that it had “[grown] active clients to 2.7 million as of April 28, 2018,” from 2.5 million in 2.5 million in the previous quarter of 2018, and from 2.07 million from the same period in 2017, reflecting “an increase of 614,000 and 29.6% year-over-year growth.”

On a form filed with the SEC on June 8, 2018, the Company specifically addressed its active client growth, saying in relevant part: “We believe that the number of active clients is a key indicator of our growth and the overall health of our business.”

On the same form, Stitch Fix discussed its marketing, saying in relevant part: “As our business has achieved a greater scale and we are able to support a large and growing client base, we have increased our investments in marketing to take advantage of more marketing channels to profitably acquire clients. Our current marketing efforts include client referrals, affiliate programs, partnerships, display advertising, television, print, radio, video, content, direct mail, social media, email, mobile ‘push’ communications, search engine optimization and keyword search campaigns.”

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

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

 sfix lawsuit, sfix class action, stitch fix lawsuit, stitch fix class action

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 December 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 Stitch Fix 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:

sfix lawsuit, sfix class action, stitch fix lawsuit, stitch fix class action

About Us

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.

 

 


DY Lawsuit DY Class Action

Class Action Reports

TRVN Lawsuit; Levi & Korsinsky Announces TRVN Class Action

Levi & Korsinsky, LLP

Tomaszewski v. Trevena, Inc. et al 2:18-cv-4378 — On October 10, 2018, investors sued Trevena, Inc. (“Trevena” or the “Company”) in United States District Court, Eastern District of Pennsylvania. The TRVN class action alleges that plaintiffs acquired Trevena stock at artificially inflated prices between May 2, 2016 and October 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. For more information on the TRVN Lawsuit, please contact us today!

 

Summary of the Allegations

Company Background

Founded in 2007, Trevena (NASDAQ: TRVN) is a self-described “clinical stage biopharmaceutical company.”

As such, it claims that it engages in the discovery, development of certain therapeutics with the intent to commercialize them. Specifically, the Company claims that these therapeutics “use a novel approach to target G protein coupled receptors, or GCPRs.”

Finally, Trevena says its history is “rooted in strong science,” and that it was created to “translate Nobel Prize-winning research into a new generation of groundbreaking medicines.”

The Company’s statements about certain interactions with the FDA are at the crux of the October 10 complaint.

Summary of Facts

Trevena and two of its former officers (the “Individual Defendants”) are now accused of deceiving investors by lying and withholding critical information about one of its product candidates during the Class Period.

Specifically, they are accused of omitting truthful information about the FDA’s assessment of one of its product candidates from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Trevena stock to trade at artificially inflated prices during the time in question.

The truth came out when the FDA released a Briefing Document related to Trevena on October 9, 2018. Contrary to the Company’s public representations, information in the document reflected the FDA’s concerns about Trevena’s product candidate, olicerdine. In fact, the document, which included minutes from an April 28, 2016 meeting revealed that the FDA:  “did not agree with the proposed dosing in the Phase 3 studies”; “did not agree with the proposed primary endpoint”; and “did not agree with the proposed non-inferiority (NI) margin for comparing morphine to olicerdine.”

A closer look…

As alleged in the October 10 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For instance, in a press release issued at the beginning of the Class Period, the Company said in relevant part: “The Company has reached general agreement with the FDA on key elements of the Phase 3 program to support a New Drug Application (NDA) for olicerdine (TRV130), to which the FDA has granted Breakthrough Therapy designation.”

In the same press release, Trevena also said in pertinent part: “In addition, general agreement was reached on the company’s planned clinical, nonclinical, clinical pharmacology, and chemistry, manufacturing and control (CMC) activities to support the planned NDA.”

Trevena reiterated its statement about its announcement and alleged agreement with the FDA on forms filed with the SEC on May 5, 2016, and August 4, 2016. In each instance, the Company also filed certifications signed by the Individual Defendants in which they certified that based on their knowledge the report did not contain: “any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report.”

Both Individual Defendants also certified that they disclosed that they disclosed, “any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.”

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

Closing stock price prior to disclosures:

 

$2.98
Closing stock price the trading day after disclosures:

 

$1.91
One day stock price decrease (percentage) as a result of disclosures:

 

64.09%

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

TRVN Lawsuit TRVN Class Action

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 December 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 Trevena 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:

TRVN Lawsuit TRVN Class Action

About Us

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.

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces MGT Capital Class Action, MGTI Lawsuit

Levi & Korsinsky

October 23, 2018

NEW YORK, October 23, 2018 – Levi & Korsinsky, LLP announces a class action on behalf of investors who purchased or otherwise acquired securities of MGT Capital Investments Inc. (“MGT Capital”) (OTCMKTS: MGTI) between October 9, 2015 and September 7, 2018. You are hereby notified that the MGT Capital class action lawsuit has been commenced in the United States District Court for the District of New Jersey. To get more information about the MGTI class action go to: https://www.zlk.com/pslra-1/mgt-capital-investments-inc-loss-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 MGTI lawsuit 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 pump-and-dump scheme to artificially inflate MGT Capital’s stock price; (2) this illicit scheme caused MGT Capital to make false and misleading statements, which would result in governmental scrutiny, including from the SEC; (3) certain of the defendants exercised control over MGT Capital and its management; (4) consequently, the illicit scheme would ultimately cause MGT Capital’s stock to become delisted from NYSE MKT; and (5) as a result, defendants’ statements about MGT Capital’s business and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

If you suffered a loss in MGT Capital you have until November 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.

 

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action News

Levi & Korsinsky Announces the Trevena Class Action, TRVN

Levi & Korsinsky

NEW YORK, October 23, 2018 – Levi & Korsinsky announces a class action on behalf of shareholders who purchased securities of Trevena, Inc. (“Trevena”) (NASDAQGS: TRVN) between May 2, 2016 and October 9, 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 about the TRVN class action go to: https://www.zlk.com/pslra-1/trevena-inc-loss-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 Trevena class action alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) the U.S. Food and Drug Administration (“FDA”) had not agreed to key elements of the Company’s Phase 3 trial for oliceridine (TRV130); (ii) the FDA was unlikely to approve oliceridine (TRV130) based on the Company’s Phase 3 trial; and (iii) as a result, Trevena’s public statements were materially false and misleading at all relevant times.

If you suffered a loss in Trevena you have until December 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces MBT Financial Merger Investigation; MBTF Acquisition

Levi & Korsinsky

October 18, 2018

Levi & Korsinsky, LLP is investigating the sale of MBT Financial Corporation (NASDAQGS: MBTF) to First Merchants Corporation (NASDAQGS: FRME). Under the terms of the transaction, MBT Financial shareholders will receive 0.275 shares of First Merchants common stock for each share of MBT Financial stock they own; based on the closing price of First Merchants’ common stock on October 9, 2018, this represents approximately $12.57 per share. To learn more about the MBTF investigation and your rights, go to: https://www.zlk.com/mna/mbt-financial-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 MBT Financial merger investigation concerns whether the Board of MBT Financial breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether First Merchants is underpaying for MBT Financial shares, thus unlawfully harming MBT 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky Announces Investigation of Esterline Merger; ESL Merger

Levi & Korsinsky

Levi & Korsinsky, LLP announces an investigation into the fairness of the sale of Esterline Technologies Corporation (NYSE: ESL) to TransDigm Group Incorporated (NYSE: TDG) for $122.50 per share. To learn more about the Esterline merger and your rights, go tohttps://www.zlk.com/mna/esterline-technologies-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 ESL merger investigation concerns whether the Board of Esterline breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether TransDigm Group Incorporated is underpaying for Esterline shares, thus unlawfully harming Esterline 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Merger News

Levi & Korsinsky is Investigating the Imperva Merger; IMPV Merger

Levi & Korsinsky

Levi & Korsinsky, LLP is investigating the sale of Imperva, Inc. (NASDAQGS: IMPV) to Thoma Bravo, LLC. Under the terms of the transaction, Imperva shareholders will receive $55.75 per share. To learn more about the IMPV merger and your rights, go to: https://www.zlk.com/mna/imperva-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 Imperva merger investigation concerns whether the Board of Imperva breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Thoma Bravo, LLC is underpaying for Imperva shares, thus unlawfully harming Imperva 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


cmcm lawsuit, cmcm class action, cheetah mobile lawsuit, cheetah mobile class action

Class Action Reports

HTHT Lawsuit; Levi & Korsinsky Announces HTHT Class Action

Levi & Korsinsky, LLP

Hayes v. Huazhu Group, Ltd., et al 2:18-cv-08633 — On October 1, 2018, investors sued Huazhu Group, Ltd., (“Huazhu” or the “Company”) in United States District Court, Central District of California. The HTHT class action alleges that plaintiffs acquired Huazhu’s American Depository Shares (ADSs) at artificially inflated prices between May 14, 2018 and August 28, 2018 (the “Class Period”). They are now seeking compensation for losses incurred upon public revelation of the Company’s alleged misconduct during that time. For more information about the HTHT lawsuit, please contact us today!

 

Summary of the Allegations

Company Background

Formerly known as the China Lodging Group, Ltd., Huazhu (NASDAQ: HTHT) is a self-described, “multi-brand hotel group in China.” As such, it is dedicated to providing its customers with “high quality and diverse accommodation and transportation experience.”

To this end, it offers a loyalty/rewards program and hotel-booking platform called “H Rewards” that also allows more than 100 million members to access more than 3,000 hotels in more than 300 cities around the world. The Company also says its associated APP has been downloaded more than 20 million times.

According to its website, Huazhu has been listed on the NASDAQ since 2010 and reached a “long-term strategic alliance with ACCOR Hotels Group four years later. In 2017, a trade publication recognized Huazhu as the ninth largest hotel group in the world.

Summary of Facts

Huazhu and its CEO (the “Individual Defendant”) 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 Huazhu’s ability to safeguard its customers’ information and related matters from its press releases. By knowingly or recklessly doing so, they allegedly caused the Company’s ADSs to trade at artificially inflated prices during the time in question.

The truth came out in media reports on August 28, 2018. That day, the media reported that, “Chinese police were investigating a possible leak of client information from Huazhu, stating that nearly 500 million pieces of customer-related information, including registration information, personal data and booking records, had emerged in an online post.”

A closer look…

As alleged in the October 1 complaint, the Company and/or Individual Defendant repeatedly made false and misleading public statements during the Class Period.

For example, in a May 14 press release announcing its first quarter 2018 financial results, the Company stated in pertinent part: “The Company provides guidance for Q2 2018 net revenues growth of 24%-26% year over year, and revises upward the full year net revenues growth estimate ranges from 16%-19% to 18%-22% accordingly.”

Then, in an August 22 press release announcing its second quarter 2018 financial results, the Company stated in relevant part: “The Company provides guidance for Q3 2018 net revenues growth of 10-5%-12.5% year over year, and maintains the full year net revenues growth estimate range of 18%-22%.”

What the Company failed to disclose, however, was that it “lacked adequate security measures to protect customer information,” and that this could heighten its litigation risk, resulting in increased expenses. The Company also failed to disclose the potential impacts on its goodwill, including lower revenues.

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

Closing ADS price prior to disclosures:

 

$35.53
Closing ADS price the trading day after disclosures:

 

$33.98
One day ADS price decrease (percentage) as a result of disclosures:

 

4.36%

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

 HTHT lawsuit htht class action

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 December 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 Huazhu ADSs 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:

HTHT lawsuit htht class action

About Us

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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

AAOI Lawsuit; Levi & Korsinsky Announces AAOI Class Action

Levi & Korsinsky, LLP

Case Introduction

Taneja v. Applied Optoelectronics, Inc., et al 4:18-cv-3544 — On October 1, 2018, investors sued Applied Optoelectronics, Inc., (“Applied Optoelectronics” or the “Company”) in United States District Court for the Southern District of Texas, Houston Division. Plaintiffs in the AAOI class action allege that they acquired Applied Optoelectronics stock at artificially inflated prices between August 7, 2018 and September 27, 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 on the AAOI lawsuit, please contact us today!

 

Summary of the Allegations

Company Background

According to its website, the Company (NASDAQ: AAOI) is a “leading provider of fiber‑optic networking products. We serve three growing end-markets: Cable Television Broadband (CATV), fiber-to-the-home (FTTH), and internet data centers (Data Center).”

As such, the Company says it designs and makes “a range of optical communications products employing our vertical integration strategy from laser chips, components, subassemblies and modules to complete turn-key equipment.” Specifically, the Company says, it makes, designs and incorporates its own “analog and digital lasers using a proprietary Molecular Beam Epitaxy (MBE) fabrication process,” which it believes to be the only one of its kind in the industry.

Of importance here, however, are the Company’s claims that its lasers “are proven to be reliable over time and highly tolerant of changes in temperature and humidity (delivering millions of hours service), making them well-suited to the CATV and FTTH markets where networking equipment is often installed outdoors.”

Summary of Facts

Applied Optoelectronics 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 the reliability of some of its products from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Applied Optoelectronics stock to trade at artificially inflated prices during the time in question.

The truth came out in a report made by a Loop Capital Markets analyst on September 27, 2018. The analyst reported that, “the Company was experiencing product quality issues with certain transceivers in which its lasers failed after thousands of hours of operation.” In addition to downgrading the Company’s stock, the analyst “lowered gross margin and revenue expectations because the product quality issues suggested that the Company would start procuring lasers externally through 2019.”

The next day, the Company “cut its revenue guidance for the third quarter 2018 because it had identified an issue with its lasers that caused them to temporarily suspend shipments of certain transceivers.”

A closer look…

As alleged in the October 1 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For instance, in a press release issued by Applied Optoelectronics on August 7, 2018, one of the Individual Defendants said in pertinent part: “We remain confident in our competitive position. We believe our platform, proprietary manufacturing processes and vertical integration are keys to our success in the market, and remain focused on building on this strong foundation to position AIO for further success.”

In the same press release, the Company shared its Business Outlook for the third quarter of 2018. Among other things, its expectations included revenue in the range of $82 million to $92 million.

The Company shared the same financial information on a form filed with the SEC the next day.

What Applied Optoelectronics failed to disclose, however, was that some of its lasers were “susceptible to fail prematurely,” and that “certain of the Company’s transceivers utilizing these lasers would be materially affected.”

Impact of the Alleged Fraud on Applied Optoelectronics Stock Price and Market Capitalization

Closing stock price prior to disclosures:

 

$28.36
Closing stock price the trading day after disclosures:

 

$24.66
One day stock price decrease (percentage) as a result of disclosures:

 

13.05%

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 November 30, 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 Applied Optoelectronics 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:

AAOI Lawsuit AAOI Class Action

About Us

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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

CHGG Lawsuit; Levi & Korsinsky Announces Chegg Class Action

Levi & Korsinsky, LLP

October 10, 2018

Shah v. Chegg Inc., et al 3:18-cv-05956-CRB — On September 27, 2018, investors sued Chegg, Inc., (“Chegg” or the “Company”) in United States District Court, Northern District of California. Plaintiffs in the Chegg class action allege that they acquired Chegg stock at artificially inflated prices between July 30, 2018 and September 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. For information on the CHGG lawsuit, or to submit your losses, please contact us today!

 

Summary of the Allegations

Company Background

The Company (NYSE:CHGG) is a self-described “leading student-first interconnected learning platform.” As such, it provides the “tools and services that support students throughout their educational journey.”

Specifically, Chegg allows college and high school students to rent and sell textbooks, return their books, find affordable textbooks and find college textbooks. It also allows students to research different colleges and areas of study, along with various scholarships and internships. Finally, students using Chegg’s services can access online tutoring, study tools and standardized test preparation programs.

Summary of Facts

Chegg and its CEO (the “Individual Defendant”) now stand accused of deceiving investors by lying and withholding critical information about the Company’s business practices and prospects during the Class Period.

In particular, they are accused of omitting truthful information about the Company’s ability to protect user data and detect unauthorized access to its system from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Chegg stock to trade at artificially inflated prices during the time in question.

The truth came on out when the Company filed a form with the SEC on September 25, 2018. On it, Chegg said it recently learned that “an unauthorized party gained access to a Company database” on or around April 29, 2018. The Company also said that the database that had been breached “hosts the user data for chegg.com and certain of the Company’s family of brands such as EasyBib.”

The compromised information potentially belonging to as many as 40 million active and inactive registered users included their names, email addresses, shipping addresses, Chegg user names, and “hashed” Chegg passwords.   At the time of the filing, however, the Company said it understood that, “no social security numbers or financial information such as users’ credit card numbers or bank account information were obtained.”   Chegg also said an investigation “supported by third-party forensics” was ongoing at the time of the filing.

A closer look…

As alleged in the September 27 complaint, the Company and/or Individual Defendant repeatedly made false and misleading public statements during the Class Period.

For instance, in a press release issued on July 30, 2018, the Company said in relevant part: “We expanded our services, introduced the Chegg Math Solver subscription and, through the acquisition of StudyBlue, added flashcards, one of the most popular learning tools used by students around the world. We enter the fall semester with significant momentum, giving us confidence to once again raise our guidance for the year.”

On a form filed with the SEC that day, the Company also discussed its “vulnerability to unauthorized access to its systems and its data.” In this context it said in relevant part: “Efforts to prevent hackers from entering our computer systems are expensive to implement and may limit the functionality of our services. Though it is difficult to determine what, if any, harm may directly result from any specific interruption or attack, any failure to maintain performance, reliability, security and availability of our products and services and technical infrastructure may harm our reputation, brand and our ability to attract students to our website.”

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

Closing stock price prior to disclosures:

 

$32.33
Closing stock price the trading day after disclosures:

 

$28.42
One day stock price decrease (percentage) as a result of disclosures:

 

12.09%

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

chegg lawsuit, chegg class action, chgg class action, chgg lawsuit

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 November 26, 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 Chegg 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:

chegg lawsuit, chegg class action, chgg class action, chgg lawsuit

About Us

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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

CPB Lawsuit; Levi & Korsinsky Announces Campbell Soup Class Action

Levi & Korsinsky, LLP

Marder v. Campbell Soup Company et al 1:18-cv-14385-NLH-JS — On September 28, 2018, investors sued Campbell Soup Company (“Campbell” or the “Company”) in United States District Court, District of New Jersey. The Campbell Soup class action alleges that plaintiffs acquired Campbell stock at artificially inflated prices between August 31, 2017 and May 17, 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 on the CPB Lawsuit, please feel free to contact us today!

 

Summary of the Allegations

Company Background

The Company (NYSE:CPB) is a self-described “global food company” that generates roughly $8 billion in annual sales. As such, it sells “a range of high-quality soups and simple meals, beverages, snacks and packaged fresh foods.”

The Company’s history dates to 1869, when fruit merchant Joseph Campbell and icebox maker Abraham Anderson teamed up to create the business now known as Campbell Soup Company. They opened their first plant in Camden, N.J., where the Company is still based today.

In 1894, Joseph Campbell was replaced as president and retired, severing the family’s ties with the business. It nevertheless retained his surname as part of its moniker and introduced the first can of Campbell’s ready-to-eat tomato soup the next year. In 1911, the business reached another significant milestone with the national distribution of Campbell’s soups. Spurred by continued domestic growth and success in the ensuing decades, Campbell created its international division in 1957.

Over the next 60 years, the Company continued its expansion and introduction of new products. In all, Campbell now has three divisions or segments. These are: “America’s Simple Meals and Beverages,” which features its flagship brand, Campbell’s soup; “Global Biscuits and Snacks”; and “Campbell Fresh.”

Summary of Facts

Campbell and two of its current and former officers (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 the performance of the Campbell Fresh division from SEC filings and related material. By knowingly or recklessly doing so they allegedly caused Campbell stock to trade at artificially inflated prices during the time in question.

The truth emerged in a series of events that transpired between November 21, 2017 and May 18, 2018. In each case, the Company announced less than stellar financial performances linked to its Campbell Fresh Division.

Everything came to a head on May 18, when the Company, “reported disappointing financial results for the third straight quarter and admitted that the Campbell Fresh division was not profitable for the first nine months of fiscal 2018.” As a result, the Company also said it had to make its third consecutive quarterly reduction to is fiscal year 2018 guidance.

A closer look…

As alleged in the September 28 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For instance, during a quarterly conference call held on August 31, 2017, one of the Individual Defendants said that the Company anticipated that the Campbell Fresh Division would “return to profitable growth in fiscal 2018.”

During the same conference call, the other Individual Defendant said the Company “expect[ed] [Campbell Fresh] to have sufficient capacity to support [the Company’s] growth plans in fiscal 2018.”

Then, on a November 21, 2017 conference call following the announcement of the Company’s disappointing quarterly results, one of the Individual Defendants tried to reassure investors by saying that the Company, “expect[ed] to see profitability pretty quick in Campbell Fresh.”

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

Closing stock price prior to disclosures:

 

$39.22
Closing stock price the trading day after disclosures:

 

$34.37
One day stock price decrease (percentage) as a result of disclosures:

 

12.37%

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 November 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 Campbell 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:

CPB Lawsuit, Campbell Soup Class Action

About Us

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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

MGTI Lawsuit; Levi & Korsinsky Announces MGTI Class Action

Levi & Korsinsky, LLP

Klingberg v. MGT Capital Investments, Inc., et al 2:18-cv-14380-WHW-CLW–On September 28, 2018, investors sued MGT Capital Investments, Inc. (“MGT Capital” or the “Company”) in United States District Court, District of New Jersey. Plaintiffs in the MGTI class action allege that they acquired MGT Capital stock at artificially inflated prices between October 9, 2015 and September 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. For more information on the MGTI Lawsuit, please contact us today.

 

Summary of the Allegations

Company Background

The Company (OTC:MGTI) and formerly (NYSE:MGT) is now engaged in bitcoin mining, a process in which  “miners purchase powerful computing chips designed solely to solve the blocks which reward Bitcoins.”

According to its website, MGT Capital established its first facility and began bitcoin mining in Washington State in September 2016. As the result of a search for another location in 2017, MGT Capital opened its second bitcoin mining facility in northern Sweden. The Company claims that facility is large enough to house thousands of the “computing chips” which are essential to its operations.

In its prior iteration (from 2013 to 2016), the Company said, it was primarily “engaged in the business of acquiring, developing and monetizing assets in the online and mobile gaming space as well as the social casino industry.”

According to the September 28 complaint, MGT “announced it was transforming itself into a cyber security company” in May 2016.

Summary of Facts

MGT Capital, four of its current and former officers and or directors, and four shareholders (collectively 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 MGT Capital’s participation in certain activities and the consequences of said participation from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused MGT Capital stock to trade at artificially inflated prices during the time in question.

The truth surfaced in a series of events transpiring between September 19, 2016 and September 7, 2018. The most significant of the developments in the fall of 2016 was an October 19 press release issued by the NYSE MKT shortly before the market closed. It revealed that, “the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of MGT Capital Investments, Inc., …from the Exchange. Trading in the Company’s common stock on the NYSE MKT will be suspended immediately.”

In the most recent development, the SEC issued a press release in which it announced that it charged several entities and individuals involved in “lucrative market manipulation schemes.” Of relevance here is that six of the defendants named in that case also have ties to MGT Capital.

A closer look…

As alleged in the September 28 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements throughout the Class Period.

For example, on a form filed with the SEC on April 20, 2017, the Company acknowledged that its stock price was “subject to volatility, but it failed to disclose it was being manipulated.”

The Company also failed to disclose that it was being manipulated on another form filed with the SEC on April 2, 2018. Instead, it again addressed the potential volatility of its stock price saying: “The market price of our Common Stock could change in ways that may or may not be related to our business, our industry or our operating performance and financial condition and could negatively affect our share price ore result in fluctuations in the price or trading volume of our Common Stock.”

Along with that form, the Company filed certifications signed by two of the Individual Defendants “attesting to the accuracy of financial reporting, the disclosure of any material changes to the Company’s internal control over financial reporting and disclosure of all fraud.”

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

Closing stock price prior to disclosures:

 

$0.59
Closing stock two trading days after disclosures:

 

$0.395
Two day stock price decrease (percentage) as a result of disclosures:

 

33.05%

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

 MGTI Lawsuit, MGTI Class Action

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 November 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 MGT Capital 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:

MGTI Lawsuit, MGTI Class Action

About Us

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.


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action Reports

HAS Lawsuit; Levi & Korsinsky Announce Hasbro Class Action

Levi & Korsinsky, LLP

City of Warren Police and Fire Retirement System v. Hasbro, Inc., et al 1:18-cv-00543-WES-LDA–On September 28, 2018, investors sued Hasbro, Inc. (“Hasbro” or “the Company”) in United States District Court, District of Rhode Island. The Hasbro class action alleges that plaintiffs acquired Hasbro stock at artificially inflated prices between April 24, 2017 and October 23, 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. For more information about the HAS Lawsuit please contact us today.

 

Summary of the Allegations

Company Background

Hasbro (NASDAQ:HAS) bills itself as “a global play and entertainment company.” As such, it says it is dedicated to “Creating the World’s Best Play Experiences” through its “toys and games to television, movies, digital gaming and consumer products.”

In all, Hasbro says, its “extraordinarily robust portfolio” includes more than 1,500 brands. The Company also says that it works with  “many of the industry’s best partners, including STAR WARS, MARVEL, DISNEY PRINCESS and DISNEY FROZEN, as well as DREAMWORKS TROLLS and SESAME STREET.”

Hasbro is based in Pawtucket, Rhode Island.

Summary of Facts

Hasbro 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 its sales in key foreign markets and the financial status of one of its largest customers (Toys “R” Us) from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Hasbro stock to trade at artificially inflated prices during the time in question.

The truth came out in a series of events on October 23, 2017. First, the Company issued a press release announcing third quarter 2017 financial results for the period that ended on October 1, 2017. In it, Hasbro admitted that the Toys “R” Us bankruptcy filing in the United States and Canada had a “negative impact on our quarterly revenues and operating profit.”

In an ensuing conference call with analysts and investors held to discuss the Company’s earnings and operations, both Individual Defendants commented on ongoing sales difficulties in the U.K. and Brazil. One said in pertinent part: “The challenges we saw emerging in the second quarter have continued in the U.K. and Brazil, and we anticipate this will continue for the remainder of the year.”

A closer look…

As alleged in the September 28 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements throughout the Class Period.

For example, during a conference call with analysts and investors held at the beginning of the Class Period, one of the Individual Defendants said in relevant part: “We are well positioned to execute against the storytelling and brand initiatives for the year while investing to expand the reach of our brands and deliver profitable growth for this year and future years.”

In response to a question about the Company’s “customer relationship” with Toys “R” Us during the conference call, the same Individual Defendant also said in pertinent part: “So I’d say, overall, we’re partnering with that retailer and all our retailers, both in-store and omnichannel online. And we are seeing a great convergence of content, commerce and innovation happening at retail and also particularly in the online space.”

Then on a July 24, 2017 conference call with analysts and investors, the same Individual Defendant stated in relevant part: “…the U.K. and Brazil are facing challenging macroeconomic issues impacting both consumers and retailers. This is having a near-term impact on our revenue and operating profit in the international segment, but our full year outlook for this segment is positive.”

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

Closing stock price prior to disclosures:

 

$92.69
Closing stock price the trading day after disclosures:

 

$89.75
One day stock price decrease (percentage) as a result of disclosures:

 

3.17%

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

 hasbro lawsuit, HAS Lawsuit, Hasbro Class Action, HAS Class Action

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 November 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 Hasbro 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:

hasbro lawsuit, HAS Lawsuit, Hasbro Class Action, HAS Class Action

About Us

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.


ALGN Class Action, ALGN Lawsuit

Class Action News

Levi & Korsinsky Announces the Adient Class Action, ADNT Lawsuit

Levi & Korsinsky

October 9, 2018

NEW YORK, October 9, 2018 – Levi & Korsinsky announces a class action commenced on behalf of shareholders who purchased securities of Adient plc (“Adient”) (NYSE: ADNT) between October 31, 2016 and June 11, 2018. The Adient 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 ADNT class action go to: https://www.zlk.com/pslra-1/adient-plc-loss-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 ADNT lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements. In particular, the complaint alleges that defendants repeatedly stressed to investors that the Company was “solidly on track” to deliver 200-basis-point margin expansion by 2020, which was largely dependent on operational and financial improvements in Adient’s core SS&M business, while unbeknownst to investors, Adient’s core SS&M business faced significant operational problems such that the repeatedly touted 200-basis-point margin expansion was not “on track” at any point during the Class Period. Consequently, Adient stock traded at artificially inflated prices during the Class Period, reaching a high of $85.93 per share.

If you suffered a loss in Adient you have until December 3, 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


DY Lawsuit DY Class Action

Class Action News

Levi & Korsinsky Announces Acadia Healthcare Class Action, ACHC Lawsuit

Levi & Korsinsky

NEW YORK, October 9, 2018 – Levi & Korsinsky announces a class action on behalf of shareholders who purchased securities of Acadia Healthcare Company, Inc. (“Acadia Healthcare”) (NASDAQGS: ACHC) between February 23, 2017 and October 24, 2017. The ACHC class action lawsuit has been commenced in the United States District Court for the Middle District of Tennessee. To get more information about the Acadia Healthcare class action go to: https://www.zlk.com/pslra-1/acadia-healthcare-company-inc-loss-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 ACHC lawsuit alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the quality of Acadia’s U.K. operations did not give the Company a “competitive strength” that would drive future growth and profitability; and (2) defendants had no reasonable basis to believe–and did not in fact believe–their positive statements about the Company’s business and financial prospects during the Class Period, including their guidance issued and reaffirmed throughout the Class Period.

If you suffered a loss in Acadia Healthcare you have until December 3, 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


DY Lawsuit DY Class Action

Class Action News

Levi & Korsinsky Announces Chegg, Inc. Class Action, CHGG Lawsuit

Levi & Korsinsky

NEW YORK, October 9, 2018 – Levi & Korsinsky announces a class action on behalf of shareholders of Chegg, Inc. (“Chegg”) (NYSE: CHGG) who purchased shares between July 30, 2018 and September 25, 2018. You are hereby notified that the Chegg class action lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information about the CHGG class action go to: https://www.zlk.com/pslra-1/chegg-inc-loss-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 CHGG lawsuit alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the Company lacked adequate security measures to protect users’ data; (2)  the Company lacked the internal controls and procedures to detect unauthorized access to its systems and to its data; (3)  as a result, the Company would incur additional expenses and litigation risks; and (4) as a result of the foregoing, Defendants’ positive 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 Chegg you have until November 26, 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


DY Lawsuit DY Class Action

Class Action News

Levi & Korsinsky Announces Campbell Soup Class Action, CPB Lawsuit

Levi & Korsinsky

NEW YORK, October 9, 2018 – Levi & Korsinsky announces a class action on behalf of shareholders who purchased securities of Campbell Soup Company (“Campbell”) (NYSE: CPB) between August 31, 2017 and May 17, 2018. The CPB securities class action lawsuit has been commenced in the United States District Court for the District of New Jersey. To get more information about the Campbell Soup lawsuit go to: https://www.zlk.com/pslra-1/campbell-soup-company-loss-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 CPB lawsuit alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the defendants failed to disclose known trends that were negatively impacting the profitability of the Campbell Fresh division; and (2) as a result of the foregoing, the defendants’ positive statements about Campbell’s and the Campbell Fresh division’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

If you suffered a loss in Campbell you have until November 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


CMCM Lawsuit CMCM Class Action Cheetah Mobile Inc.

Class Action News

Levi & Korsinsky Announces the HAS Lawsuit; Hasbro Class Action

Levi & Korsinsky

October 8, 2018

NEW YORK, October 8, 2018 – Levi & Korsinsky announces a class action on behalf of Hasbro, Inc. (“Hasbro”) (NASDAQGS: HAS) shareholders who purchased shares between April 24, 2017 and October 23, 2017. You are hereby notified that the HAS class action lawsuit has been commenced in the United States District Court for the District of Rhode Island. To get more information about the Hasbro class action go to: https://www.zlk.com/pslra-1/hasbro-inc-loss-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 HAS complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Hasbro’s relationship with Toys “R” Us was becoming increasingly important to Hasbro’s business, as Toys “R” Us was the primary retail brick-and-mortar toy store in the United States; (2) Toys “R” Us was in far worse financial condition than was being publicly reported and it would have to dramatically scale back its operations or file for bankruptcy and liquidate; and (3) Hasbro was experiencing significant adverse sales issues in the key markets of the United Kingdom and Brazil which were negatively impacting the Company’s efforts to grow sales in those markets.

If you suffered a loss in Hasbro you have until November 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


DY Lawsuit DY Class Action

Class Action News

MGTI Lawsuit; Levi & Korsinsky Announces MGT Capital Class Action

Levi & Korsinsky

Levi & Korsinsky announces a class action on behalf of MGT Capital Investments Inc. (“MGT Capital”) (OTCMKTS: MGTI) shareholders who purchased shares between October 9, 2015 and September 7, 2018. You are hereby notified that the MGTI securities class action lawsuit has been commenced in the United States District Court for the District of New Jersey. To get more information about the MGT class action go to: https://www.zlk.com/pslra-1/mgt-capital-investments-inc-loss-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 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 pump-and-dump scheme to artificially inflate MGT Capital’s stock price; (2) this illicit scheme caused MGT Capital to make false and misleading statements, which would result in governmental scrutiny, including from the SEC; (3) certain of the defendants exercised control over MGT Capital and its management; (4) consequently, the illicit scheme would ultimately cause MGT Capital’s stock to become delisted from NYSE MKT; and (5) as a result, defendants’ statements about MGT Capital’s business and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

If you suffered a loss in MGT Capital you have until November 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


Merger News

Levi & Korsinsky is Investigating the Access National Merger; ANCX Merger

Levi & Korsinsky

Levi & Korsinsky, LLP is investigating the fairness of the sale of Access National Corporation (NASDAQGM: ANCX) to Union Bankshares Corporation (NASDAQGS: UBSH). Under the terms of the transaction, Access National shareholders will receive 0.75 shares of Union common stock per share; based on Union’s closing price on October 4, 2018, this represents a value of approximately $29.19 per share. To learn more about the ANCX merger and your rights, go tohttps://www.zlk.com/mna/access-national-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 Access National merger investigation concerns whether the Board of Access National breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Union is underpaying for Access National shares, thus unlawfully harming Access National 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


ALGN Class Action, ALGN Lawsuit

Class Action Reports

OPK Lawsuit; Levi & Korsinsky Announce Opko Class Action

Levi & Korsinsky, LLP

October 4, 2018

Steinberg v. Opko Health, Inc. et al 1:18-cv-23786 — On September 14, 2018, investors sued Opko Health, Inc., (Opko, OPK, or the Company) in United States District Court for the Southern District of Florida. Plaintiffs in the Opko class action allege that they acquired Opko stock at artificially inflated prices between September 26, 2013 and September 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. For more information on the OPK Lawsuit, please contact us today!

 

Summary of the Allegations

Company Background

According to its website, Opko (NASDAQ: OPK) engages in the development, manufacturing and distribution of “an extensive array of diagnostics and therapeutics for a wide range of indications and conditions.”

Founded in 1991, the Company employs more than 6,000 people in the United States and abroad. These employees work in Opko’s diagnostics and pharmaceutical divisions in the U.S., and in its “pharmaceutical platforms” in Ireland, Chile, Spain, and Mexico.

Opko is incorporated in Delaware and based in Miami, Florida. It had more than 550 million shares of common stock outstanding as of August 1, 2018.

Summary of Facts

Opko and three of its current and former officers and/or directors (the “Individual Defendants”) are now accused of deceiving investors by lying and withholding critical information about Opko’s business practices during the Class Period.

Specifically, they stand accused of omitting truthful information about the accuracy of Opko’s financial reporting and its participation in certain activities from SEC filings. By knowingly or recklessly doing so, they allegedly caused Opko stock to trade at artificially inflated prices during the time in question.

The truth came out in a lawsuit that the SEC filed in United States District Court for the Southern District of New York on September 7 2018. In it, the SEC alleged that “a number of entities and persons, including Opko and [its CEO Philip] Frost” had engaged in a so-called “pump-and-dump” scheme designed to “inflate the stock prices of various companies in which Opko and/or Frost had made substantial investments.” As alleged by the SEC the participants “quickly dumped their shares and left public investors holding the bag.”

A closer look…

As alleged in the September 14 complaint, the Company and/or Individual Defendants either made false and misleading public statements during the Class Period, or caused false and misleading public statements to be made during that time.

For example, by signing the Company’s annual and quarterly SEC filings during the class Period, the Defendants “attested to the accuracy of the Company’s financial reporting and represented that the financial statements contained no material misrepresentations.”

As part of the alleged “pump-and-dump” scheme, they accused Seeking Alpha to publish a September 26, 2013 article that “promoted the stock of Biozone” by “citing Frost’s ownership in Biozone based on his reputation as a savvy investor in biotech companies.”

Then, as part of the same scheme, they also caused Seeking Alpha to publish an April 8, 2015 article “in order to promote the stock of MabVax, by using Frost’s and Opko’s reputation…”

Finally, the Company and Individual Defendants “never disclosed their participation” in the alleged “pump-and-dump” activities.

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

Closing stock price prior to disclosures:

 

$5.59
Closing stock price the trading day after disclosures:

 

$4.58
One day stock price decrease (percentage) as a result of disclosures:

 

18.12%

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

 OPK Lawsuit, OPK Class Action, Opko Lawsuit, Opko Class Action

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 November 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 Opko 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:

OPK Lawsuit, OPK Class Action, Opko Class Action, Opko Lawsuit

About Us

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.


ALGN Class Action, ALGN Lawsuit

Class Action Reports

COCP Lawsuit; Levi & Korsinsky Announces COCP Class Action

Levi & Korsinsky, LLP

Pepe v. Cocrystal Pharma, Inc., et al 2:18-cv-14091-KM-JBC — On September 20, 2018, investors sued Cocrystal Pharma, Inc., (Cocrystal, COCP, or the Company) in United States District Court, District of New Jersey. Plaintiffs in the COCP class action allege that they acquired Cocrystal stock at artificially inflated prices between September 23, 2013 and September 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. For more information on the COCP Lawsuit, please contact us today!

 

Summary of the Allegations

Company Background

The Company (NASDAQ: COCP) was formerly known as BioZone Pharmaceuticals, Inc. (“BioZone”).  Its creation resulted from a merger between BioZone and Cocrystal Discovery, Inc., in 2014.

According to its website, Cocrystal is now a “clinical stage biotechnology company discovering and developing novel antiviral therapeutics that target the replication machinery of hepatitis viruses, influenza viruses, and noroviruses.” As such, it uses “unique structure-based technologies and Nobel Prize winning expertise to create first- and best-in-class antiviral drugs.”

Cocrystal is incorporated in Delaware and based in Tucker, Georgia. On its website, the Company identifies its owners as “two private investors,” who own approximately 60 percent of Cocrystal, including the Frost Group. It also identifies OPKO Health, Inc., Brace Pharma Capital, LLC and Teva Pharmaceuticals Industries, Ltd. as “corporate investors.”

Summary of Facts

Cocrystal, six of its former officers and/or directors, and eight additional co-defendants (collectively the “Individual Defendants”) are 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 Company’s commission of certain acts and compliance with the SEC’s disclosure rules from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Cocrystal stock to trade at artificially inflated prices during the time in question.

The truth came out when the SEC issued a press release on September 7, 2018. In it, the SEC announced that it charged numerous individuals and “associated entities” for their participation in “long-running fraudulent schemes that generated over $27 million from unlawful stock sales and caused significant harm to retail investors who were left holding virtually worthless stock.” Of significance here is that several people with ties to Cocrystal and/or BioZone are identified as defendants in the SEC’s case.

A closer look…

As alleged in the September 20 complaint, the Company and/or Individual Defendants repeatedly made or caused the issuance of false and misleading public statements during the Class Period.

For example, on September 26, 2013, Seeking Alpha published an article touting BioZone by “using Defendant [Phillip] Frost’s ownership in BioZone and reputation as a successful biotech investor.” The article also “misleadingly stated that BioZone had a formulation ready to be tested and brought to the billion-dollar injectable drug market.”

Furthermore, the author, John H. Ford, failed to disclose that BioZone shareholder Barry C. Honig had paid him to write the article.

Then, along with a form filed with the SEC on March 31, 2014, the Company included certifications signed by two of the Individual Defendants that attested to “the accuracy of financial reporting, the disclosure of any material changes to the Company’s internal control over financial reporting and the disclosure of all fraud.”

The Company included the same, signed certifications along with SEC filings on five additional occasions during the Class Period.

What Cocrystal failed to disclose was that it “engaged in a pump-and-dump scheme to artificially inflate the Company’s stock price,” and that its participation in this activity would result in government scrutiny. Cocrystal also failed to disclose that it failed to “abide by SEC disclosure regulations.”

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

Closing stock price prior to disclosures:

 

$3.74
Closing stock price two trading days after disclosures:

 

$3.16
One day stock price decrease (percentage) as a result of disclosures:

 

15.51%

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

 COCP Lawsuit, COCP Class Action, Cocrystal Class Action, CoCrystal Lawsuit

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 November 19, 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 Cocrystal 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:

COCP Lawsuit, COCP Class Action, Cocrystal Lawsuit, Cocrystal Class Action

About Us

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.


ALGN Class Action, ALGN Lawsuit

Class Action Reports

MCHP Lawsuit; Levi & Korsinsky Announces MCHP Class Action

Levi & Korsinsky, LLP

Jackson v. Microchip Technology, Inc. et al 2:18-cv-02914-ESW — On September 14, 2018, investors sued Microchip Technology, Inc. (Microchip, MCHP, or the Company) in United States District Court, District of Arizona. Plaintiffs in the MCHP class action allege that they acquired Microchip stock at artificially inflated prices between March 2, 2018 and August 9, 2018 (the “Class Period”). They are now seeking compensation for losses incurred upon public revelation of the Company’s alleged misconduct during that time. For more information about the MCHP Lawsuit, please contact us today.

 

Summary of the Allegations

Company Background

The Company (NASDAQ: MCHP) bills itself as a “leading provider of microcontroller, mixed-signal, analog and Flash-IP solutions.” As such, it says it provides “low-risk product development, lower total system cost and faster time to market for thousands of diverse customer applications worldwide.”

According to its website, Microchip’s products are used in numerous industries ranging from aerospace and defense to the automotive industry and computing.

Microchip is based in Chandler, Arizona and incorporated in Delaware.

Summary of Facts

Microchip and two of its senior officers  (the “Individual Defendants”) are 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 about omitting truthful information about Microchip’s acquisition of Microsemi Corp. (“Microsemi”) from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Microchip stock to trade at artificially inflated prices during the time in question.

The truth emerged on August 9, 2018, when the Company announced its financial results for the quarter that ended on June 30, 2018. These results “included one month of Microsemi’s operating results (from the date of acquisition).”

In a conference call held after the announcement that day, one of the Individual Defendants “acknowledged that Microchip’s duel diligence on Microsemi prior to the acquisition had been in adequate and that much of Microsemi’s revenue reported prior to the merger was not supported by end user demand, but rather resulted from excess distribution into the channel.”

During the August 9 conference call, Microchip also announced that it anticipated lower revenue for the second fiscal quarter of 2019 than previously expected. Analysts then identified the “cause of the revenue shortfall as Microsemi’s aggressive pre-acquisition recognition practices.”

A closer look…

As alleged in the September 14 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For example, in a March 1, 2018 press release in which Microchip announced it had “signed a definitive agreement to acquire Microsemi Corp., one of the Individual Defendants said in relevant part: “Microchip and Microsemi have a strong tradition of delivering customers and markets, thus creating highly valued and long-lasting revenue streams.”

Then, at an Investor Day presentation held the same day, one of the Individual Defendants stated in pertinent part: “Microsemi was ‘the first company we’re buying in our string of acquisitions, where their gross margin is higher than us…’”

Finally, in a press release issued on May 31, 2018, the Company also stated in relevant part: “Microchip expects Microsemi to add $160 million to $180 million to its June quarter results, and now expects consolidated non-GAAP net sales for the June quarter to be up 17% to 24% sequentially.”

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

Closing stock price prior to disclosures:

 

$98.08
Closing stock price the trading day after disclosures:

 

$87.41
One day stock price decrease (percentage) as a result of disclosures:

 

10.88%

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

 

MCHP Lawsuit, MCHP Class Action, Microchip Lawsuit, Microchip Class Action

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 November 16, 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 Microchip 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:

MCHP Lawsuit, MCHP Class Action, Microchip Lawsuit, Microchip Class Action

About Us

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.


ALGN Class Action, ALGN Lawsuit

Class Action News

Levi & Korsinsky Announces the AbbVie Inc. Class Action; ABBV Lawsuit

Levi & Korsinsky

September 27, 2018

Levi & Korsinsky announces a class action on behalf of AbbVie Inc. (“AbbVie”) (NYSE: ABBV) shareholders who purchased shares between October 25, 2013 and September 18, 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 about the ABBV lawsuit go to: https://www.zlk.com/pslra-1/abbvie-inc-loss-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 ABBV complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) AbbVie’s strategy to increase the sales growth of its blockbuster drug, HUMIRA, was through illegal kickbacks and unlawful sales and marketing tactics; (2) such practices would lead to heightened scrutiny by State governments and agencies; and (3) as a result, defendants’ public statements were materially false and misleading at all relevant times.

If you suffered a loss in AbbVie you have until November 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


nlsn class action, Nielsen class action

Class Action News

Levi & Korsinsky Announces Expanded Class Period in Nielsen Holdings Class Action; NLSN Lawsuit

Levi & Korsinsky

Levi & Korsinsky announces the expansion of the class period in a class action on behalf of Nielsen Holdings plc (NYSE: NLSN). The class period now extends to shareholders who purchased shares between February 11, 2016 and July 25, 2018You 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 go to: http://www.zlk.com/pslra-d/nielsen-holdings 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 Nielsen complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Nielsen’s sales were experiencing a permanent decline due to major budget cuts instituted by the Company’s CPG customers; (2) the Company’s CPG clients were reducing and cancelling Nielsen custom project work in favor of real-time analytical solutions; and (3) as a result, the Company’s positive statements about its business, operations, and financial conditions lacked a reasonable basis.

If you suffered a loss in Nielsen Holdings plc you have until October 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


MCK Class Action, MCK Lawsuit, McKesson Class Action, McKesson Lawsuit

Merger News

Levi & Korsinsky is Investigating the Pandora Merger; P Acquisition

Levi & Korsinsky

Levi & Korsinsky, LLP is investigating the fairness of the sale of Pandora Media, Inc. (NYSE: P) to Sirius XM Holdings Inc. (NASDAQGS: SIRI). Under the terms of the transaction, Pandora shareholders will receive 1.44 Sirius shares for each share of Pandora stock they own; based on the 30-day volume-weighted average price of Sirius common stock, this represents a value of approximately $10.14 per share. To learn more about the Pandora merger investigation and your rights, go tohttps://www.zlk.com/mna/pandora-media-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 Pandora merger investigation concerns whether the Board of Pandora breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Sirius is underpaying for Pandora shares, thus unlawfully harming Pandora 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


sonic merger, SONC merger

Merger News

Levi & Korsinsky Investigating the Sonic Corp. Merger; SONC Acquisition

Levi & Korsinsky

Levi & Korsinsky, LLP is investigating the fairness of the sale of Sonic Corp. (NASDAQ: SONC) to Inspire Brands, Inc. for $43.50 per share. To learn more about the Sonic merger investigation and your rights, go tohttps://www.zlk.com/mna/sonic-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 Sonic merger investigation concerns whether the Board of Sonic breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Inspire Brands is underpaying for Sonic shares, thus unlawfully harming Sonic 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


bhbk merger investigation, Blue Hills Bancorp merger

Merger News

Levi & Korsinsky Investigating Blue Hills Bancorp Merger; BHBK Acquisition

Levi & Korsinsky

Levi & Korsinsky, LLP is investigating the sale of Blue Hills Bancorp, Inc. (NASDAQ: BHBK) to Independent Bank Corp. (NASDAQ: INDB). Under the terms of the transaction, Blue Hills Bancorp shareholders will receive 0.2308 of an Independent share and $5.25 in cash for each share of Blue Hills Bancorp stock they own. Certain Blue Hills Bancorp directors and officers who own approximately 4.4% of the Company’s outstanding shares have already agreed to tender their shares. To learn more about the BHBK merger investigation and your rights, go tohttps://www.zlk.com/mna/blue-hills-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 Blue Hills Bancorp merger investigation concerns whether the Board of Blue Hills Bancorp breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Independent Bank Corp. is underpaying for Blue Hills Bancorp shares, thus unlawfully harming Blue Hills Bancorp 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


mzor merger, Mazor Robotics merger

Merger News

Levi & Korsinsky Investigating Mazor Robotics Merger; MZOR Acquisition

Levi & Korsinsky

Levi & Korsinsky, LLP is investigating the sale of Mazor Robotics to Medtronic plc (NYSE: MDT). Under the terms of the transaction, Mazor Robotics shareholders will receive $58.50 per American Depositary Share, or $29.25 per ordinary share. To learn more about the Mazor Robotics merger and your rights, go tohttps://www.zlk.com/mna/mazor-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 Mazor Robotics merger investigation concerns whether the Board of Mazor Robotics breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Medtronic plc is underpaying for Mazor Robotics shares, thus unlawfully harming Mazor Robotics 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


FANH Class Action, FANH Lawsuit, Fanhua Class Action, Fanhua Lawsuit

Class Action Reports

FANH Lawsuit; Levi & Korsinsky Announces Fanhua Class Action

Levi & Korsinsky, LLP

Long v. Fanhua, Inc. et al 1:18-cv-08183-PAE — On September 7, 2018, investors sued Fanhua, Inc. (Fanhua, FANH, or the Company) in United States District Court, Southern District of New York. The FANH class action alleges that plaintiffs acquired Fanhua’s American depositary shares (ADS) at artificially inflated prices between April 20, 2018 and August 27, 2018 (the “Class Period”). They are now seeking compensation, within the Fanhua Lawsuit, for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. For more information about the Fanhua Class Action (FANH Lawsuit), please contact us today!

Summary of the Allegations

Company Background

Founded 20 years ago, the Company (NASDAQ: FANH), used to be known as CNinsure, Inc. It bills itself as a “leading independent online-to-offline (“O2O”) financial services provider.”

As such, Fanhua provides “a wide variety of life and property and casualty insurance products, and provide insurance claims adjusting services” through its online platforms and offline sales and service network.

By the end of June 2018, Fanhua claims, it had nine insurance agencies “including two with national operating licenses and three insurance claims adjusting companies.” The company also claims that it employed more than 630,000 sales agents and more than 1,100 claims adjusters at that time. Finally, the Company boasts it had more than 680 sales and service centers in 31 provinces across China by the end of June.

Summary of Facts

Fanhua and two of its senior officers (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 Fanhua’s business and accounting practices from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Fanhua’s ADS to trade at artificially inflated prices during the time in question.

The truth came out on August 27, 2018, when stock analyst Seligmen Investments published an article describing Fanhua as a “questionable company.” The article also examined “a history of alleged fraud within the Company, including accounting regularities in the Company’s second quarter 2018 financial results.”

A closer look…

As alleged in the September 7 complaint, the Company and/or Individual Defendants repeatedly made false or misleading public statements during the Class Period.

For instance, on a form filed with the SEC on April 20, 2018, the Company said in relevant part: “The audit committee oversees our accounting and financial reporting processes and the audits of the financial statements of our company.”

On the same form, the Company listed the committee’s responsibilities. Of relevance here is the Company’s assertion that the committee is responsible for, “reviewing and approving all proposed related-party transactions,” and “reviewing major issues as to the adequacy of our internal controls and any special audit steps adopted in light of material control deficiencies.”

Finally, on August 21, 2018, the Company filed a form announcing its financial results for the second quarter of 2018 with the SEC. While commenting on the performance, one of the Individual Defendants said in pertinent part: “Total life insurance premiums reached RMB 1.5 billion, up 69.8% year-over-year, outpacing the overall industry growth rate. This was driven by the strong growth across all of the key operational metrics in our life insurance segment.”

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

Closing stock price prior to disclosures:

 

$26.15
Closing stock price the trading day after disclosures:

 

$23.40
One day stock price decrease (percentage) as a result of disclosures:

 

10.52%

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

 FANH Class Action FANH Lawsuit Fanhua Lawsuit Fanhua Class Action

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 November 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 Fanhua 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:

FANH Class Action FANH Lawsuit Fanhua Class Action Fanhua Lawsuit

About Us

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.


FANH Class Action, FANH Lawsuit, Fanhua Class Action, Fanhua Lawsuit

Merger News

Levi & Korsinsky Investigate Command Security Merger (MOC Merger)

Levi & Korsinsky, LLP

To: All Persons or Entities who purchased Command Security Corporation (“Command Security” or the “Company”) (NYSE American: MOC) stock prior to September 18, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Command Security Merger with Prosegur SIS (USA), Inc., a subsidiary of Prosegur Compañía de Seguridad, S.A., for $2.85 per share. Shareholders representing approximately 60.7% of the Company’s outstanding shares have agreed to tender their shares. To learn more about the MOC Merger and your rights, go tohttps://www.zlk.com/mna/command-security-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 Command Security merger investigation concerns whether the Board of Command Security breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Prosegur is underpaying for Command Security shares, thus unlawfully harming Command Security 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.


FANH Class Action, FANH Lawsuit, Fanhua Class Action, Fanhua Lawsuit

Class Action News

MCHP Lawsuit; Levi & Korsinsky Announces MCHP Class Action

Levi & Korsinsky, LLP

To: All persons or entities who purchased or otherwise acquired securities of Microchip Technology Inc. (“Microchip”) (NASDAQGS: MCHP) between March 2, 2018 and August 9, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the District of Arizona. For more information on the MCHP Class Action (MCHP Lawsuit), please contact us today!

The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Microsemi’s financial performance was underperforming Microchip’s expectations; and (2) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, including positive statements about Microsemi, were materially misleading and/or lacked a reasonable basis.

If you suffered a loss in Microchip you have until November 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.


FANH Class Action, FANH Lawsuit, Fanhua Class Action, Fanhua Lawsuit

Merger News

Levi & Korsinsky Investigates Fairness Of Nevada Gold & Casinos Merger

Levi & Korsinsky, LLP

NEW YORK, September 20, 2018 – The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Nevada Gold & Casinos, Inc. (“Nevada Gold & Casinos” or the “Company”) (NYSEMKT: UWN) stock prior to September 18, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Nevada Gold & Casinos Merger with Maverick Casinos, LLC for $2.50 per share. To learn more about the action and your rights, go tohttps://www.zlk.com/mna/nevada-gold-casinos-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 Nevada Gold & Casinos merger investigation concerns whether the Board of Nevada Gold & Casinos breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Maverick Casinos, LLC is underpaying for Nevada Gold & Casinos shares, thus unlawfully harming Nevada Gold & Casinos 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.


FANH Class Action, FANH Lawsuit, Fanhua Class Action, Fanhua Lawsuit

Merger News

Levi & Korsinsky Investigates Nexeo Merger (NXEO Merger)

Levi & Korsinsky, LLP

To: All Persons or Entities who purchased Nexeo Solutions, Inc. (“Nexeo” or the “Company”) (NASDAQCM: NXEO) stock prior to September 17, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Nexeo (NXEO Merger) to Univar Inc. (NYSE: UNVR). Under the terms of the transaction, Nexeo shareholders will receive 0.305 shares of Univar common stock and $3.29 in cash for each share of Nexeo stock they own; this represents a value of approximately $11.65 per share. To learn more about the action and your rights, go tohttps://www.zlk.com/mna/nexeo-solutions-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 Nexeo merger investigation concerns whether the Board of Nexeo breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction and whether Univar is underpaying for Nexeo shares, thus unlawfully harming Nexeo 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.


FANH Class Action, FANH Lawsuit, Fanhua Class Action, Fanhua Lawsuit

Merger News

Levi & Korsinsky Investigating Senomyx Merger; SNMX Acquisition

Levi & Korsinsky

September 26, 2018

Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Senomyx, Inc. (NASDAQGM: SNMX) to Firmenich Incorporated for $1.50 in cash per share. To learn more about the SNMX merger and your rights, go tohttps://www.zlk.com/mna/senomyx-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 Senomyx merger investigation concerns whether the Board of Senomyx breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Firmenich Incorporated is underpaying for Senomyx shares, thus unlawfully harming Senomyx shareholders.


USAT class action, USA Technologies lawsuit

Class Action News

USA Technologies Class Action; Levi & Korsinsky Announces USAT Lawsuit

Levi & Korsinsky

Levi & Korsinsky announces a class action filed on behalf of shareholders who purchased or otherwise acquired securities of USA Technologies, Inc. (“USA Technologies”) (NASDAQGM: USAT) between November 9, 2017 and September 10, 2018. You are hereby notified that the USAT class action lawsuit has been commenced in the United States District Court for the District of New Jersey. To get more information go to: https://www.zlk.com/pslra-1/usa-technologies-inc-loss-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 USAT complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) USA Technologies’ treatment of contractual arrangements in its financial statements would result in an internal investigation and delay the filing of its annual report for fiscal year 2018; (2) consequently, USA Technologies’ internal controls over financial reporting were weak and deficient; (3) as a result, defendants’ statements about USA Technologies’ 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 USA Technologies you have until November 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com


PM class action, Philip Morris class action

Class Action News

Philip Morris Class Action; Levi & Korsinsky Announces PM Lawsuit

Levi & Korsinsky

To: All persons or entities who purchased or otherwise acquired securities of Philip Morris International, Inc.  (“Philip Morris”) (NYSE: PM) between February 8, 2018 and April 18, 2018. You are hereby notified that the Philip Morris class action has been commenced in the United States District Court for the Southern District of New York. To get more information go to: https://www.zlk.com/pslra-1/philip-morris-international-inc-loss-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 PM class action complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Philip Morris was experiencing a faster decline in overall cigarette and e-cigarette (or “heated tobacco”) sales volumes during the first quarter of 2018 than investors had been led to believe; (2) Philip Morris’ much-lauded sales initiatives had stalled; (3) Philip Morris was experiencing adverse sales headwinds in key markets; and (4) as a result of the foregoing, defendants’ statements about Philip Morris’ business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

If you suffered a loss in Philip Morris you have until November 5, 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.

 

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

55 Broadway, 10th Floor

New York, NY 10006

Tel: (212) 363-7500

Toll Free: (877) 363-5972

Fax: (212) 363-7171

www.zlk.com


Invuity merger, IVTY merger

Merger News

Levi & Korsinsky Investigating Invuity Merger; IVTY Acquisition

Levi & Korsinsky

Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Invuity, Inc. (“Invuity” or the “Company”) (NASDAQGM: IVTY)to Stryker Corporation (NYSE: SYK) for $7.40 in cash per share. To learn more about the Invuity merger investigation and your rights, go tohttps://www.zlk.com/mna/invuity-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 Invuity merger investigation concerns whether the Board of Invuity breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Stryker Corporation is underpaying for Invuity shares, thus unlawfully harming Invuity 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


Sketchers Class Action: Levi & Korsinsky Announces SKX Lawsuit

Class Action News

Sketchers Class Action: Levi & Korsinsky Announces SKX Lawsuit

Levi & Korsinsky, LLP

Levi & Korsinsky, LLP announces that a Sketchers class action lawsuit has commenced on behalf of shareholders of Skechers U.S.A., Inc. (NYSE: SKX).  The SKX lawsuit alleges that Skechers U.S.A., Inc. violated federal securities laws by issuing materially false and/or misleading information and/or failing to disclose material information.

If you suffered a loss in Skechers U.S.A., Inc. you have until November 5, 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.

Please contact us today for more information about the case, or to submit your losses.

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.


Sketchers Class Action: Levi & Korsinsky Announces SKX Lawsuit

Merger News

Levi & Korsinsky Investigating Integrated Device Technology Merger

Levi & Korsinsky

To: All Persons or Entities who purchased Integrated Device Technology, Inc. (“IDT” or the “Company”) (NASDAQGS: IDTI) stock prior to September 11, 2018. Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of IDT to Renesas Electronics Corporation for $49.00 in cash per share. To learn more about the Integrated Device merger and your rights, go tohttps://www.zlk.com/mna/integrated-device-technology-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 IDT merger investigation concerns whether the Board of IDT breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Renesas Electronics Corporation is underpaying for IDT shares, thus unlawfully harming IDT 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.

 

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


Engility Merger EGL Merger

Merger News

Engility Merger: Levi & Korsinsky Announces An EGL Merger Investigation

Levi & Korsinsky, LLP

To: All Persons or Entities who purchased Engility Holdings Inc. (“Engility” or the “Company”) (NYSE: EGL) stock prior to September 10, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an EGL Merger investigation into the fairness of the sale of Engility to Science Applications International Corp. (“SAIC”) (NYSE: SAIC). Under the terms of the transaction, Engility shareholders will receive 0.450 shares of SAIC common stock for each share of Engility stock they own. Based on the closing price of SAIC stock on September 7, 2018, this represents a value of approximately $40.44 per share. To learn more about the action and your rights, go tohttps://www.zlk.com/mna/engility-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 Engility merger investigation concerns whether the Board of Engility breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether SAIC is underpaying for Engility shares, thus unlawfully harming Engility 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.


Engility Merger EGL Merger

Merger News

Essendant Merger; ESND Merger Investigation Commences

Levi & Korsinsky, LLP

NEW YORK, September 14, 2018 – The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Essendant Inc. (“Essendant” or the “Company”) (NASDAQGS: ESND) stock prior to September 14, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an Essendant Merger investigation into the fairness of the sale of Essendant to an affiliate of Staples, Inc. for $12.80 in cash per share. To learn more about the ESND Merger investigation, please contact us today!

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


Engility Merger EGL Merger

Class Action News

Opko Class Action; Levi & Korsinsky Announces OPK Lawsuit

Levi & Korsinsky, LLP

To: All persons or entities who purchased or otherwise acquired securities of OPKO Health Inc. (“Opko”) (NASDAQ: OPK) between September 26, 2013 and September 7, 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. For more information on the OPK Lawsuit, please contact us today! The Opko Class Action complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) OPKO and its Chairman and Chief Executive Officer, Phillip Frost, were engaged in a pump-and-dump scheme with several other individuals and companies in their investments in several penny stocks; (2) this illicit scheme would result in governmental scrutiny including from the SEC; and (3) as a result, defendants’ statements about OPKO’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 Opko you have until November 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.


Engility Merger EGL Merger

Class Action News

QRTEA Lawsuit: Levi & Korsinsky Announces Qurate Class Action

Levi & Korsinsky, LLP

To: All persons or entities who purchased or otherwise acquired securities of Qurate Retail Group, Inc. (“Qurate”) (NASDAQGS: QRTEA) between August 5, 2015 and September 7, 2016. You are hereby notified that a Qurate class action lawsuit has been commenced in the United States District Court for the District of Colorado. Click here to get more information on the QRTEA 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) Qurate was aggressively loosening the credit standards of its Easy-Pay program to attract a large group of new customers; (2) Qurate’s strong sales growth was due to this loose credit policy; (3) accounts receivable associated with this new group of customers posed a high risk of write-off; and (4) consequently, Qurate’s positive statements about its business, operations, and prospects lacked a reasonable basis.

 

If you suffered a loss in Qurate you have until November 5, 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.