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Law Firm For Cryptocurrency related cases

Class Action News

Levi & Korsinsky Named Top Firm For Cryptocurrency Related Cases

Levi & Korsinsky, LLP

September 18, 2018

On September 11, 2018, legal analytics firm Lex Machina released its 2018 Securities Litigation Report presenting findings from analyses of its database including over 15,000 federal securities cases.  The report concluded that 45 federal securities lawsuits involving cryptocurrencies, blockchain technologies and/or Initial Coin Offerings (“ICO”) were filed in the first six months of 2018—triple the number of such cases filed in 2017.  In discussing these findings with The National Law Journal, Laura Hopkins—a legal data expert with Lex Machina—noted that the U.S. Securities and Exchange Commission (“SEC”) was the second most active filer of cryptocurrency related cases, “topped only by the law firm Levi & Korsinsky,” representing investors in more than 30% of these cases.

 

Levi & Korsinsky is at the forefront of cryptocurrency-related litigation.  For instance, the firm has been litigating on behalf of investors in Centra Tech, Inc.’s ICO (“Centra ICO”) since December 13, 2017, Rensel v. Centra Tech, Inc., 17-cv-24500-JLK (S.D. Fla. filed Dec. 13, 2017) (the “Centra Action”).  Notably, the Centra Action was initiated nearly four months prior to the Government’s filing of civil and criminal actions predicated on substantively identical factual allegations and similar legal theories.

 

The firm’s efficient representation of cryptocurrency investors has yielded substantial benefits for such investors.  For example, within just six (6) days of the firm initiating an action on behalf of investors in Paragon Coin, Inc.’s ICO (the “Paragon ICO”), Holland, et al, v. Paragon Coin, Inc., et al, 4:18-cv-00671-JSW (N.D. Cal. filed Jan. 30, 2018), the firm negotiated and secured an on-the-record agreement with defendants pursuant to which defendants agreed to, inter alia, limit their use of cryptocurrencies raised in the Paragon ICO to specific enumerated uses; limit access to these funds to two individual defendants, and ensure any such funds converted to fiat currency would remain under Paragon’s control at a U.S. financial institution.

 

Similarly, the firm’s vigorous litigation of plaintiff’s renewed motion for a temporary restraining order in the Centra Action resulted in Magistrate Andrea M. Simonton’s June 25, 2018 Report and Recommendation (the “Centra R&R”), which has prevented the dissipation of millions of dollars’ worth of Ethereum invested in the Centra ICO.

 

Levi & Korsinsky is leading the charge in this new area and, as a result, the firm has been appointed Lead Counsel or Co-Lead Counsel to serve on behalf of investors in cryptocurrency-related class actions by six different United States District Court Judges.  Moreover, the firm’s prosecution of these cases is assisting courts in defining legal standards in an emerging field of securities litigation.  For instance, Law360’s Expert Analysis of the Centra R&R, “The 1st Judicial Finding That Judicial Tokens are Securities,” published on July 31, 2018, concluded that the Centra Action is one of two cryptocurrency-related securities cases that are “helping to shape a body of law that courts will look to when faced with deciding” whether “tokens sold in the absence of fraud are securities.”

 

The National Law Journal’s article regarding the Lex Machina 2018 Securities Litigation Report is available at the following link: “There’s Been a Rise in Securities Lawsuits Over Cryptocurrencies, and SEC Cases Are Behind It.”

 

Law360’s Expert Analysis of the Centra R&R is available at the following link: “The 1st Judicial Finding That Judicial Tokens are Securities,”

 


Law Firm For Cryptocurrency related cases

Class Action Reports

Qurate Class Action Filed, Levi & Korsinsky Announces QRTEA Lawsuit

Levi & Korsinsky, LLP

Bristol County Retirement System v. Qurate Retail, Inc. et al 1:18-CV-02300-MEH — On September 6, 2018, investors sued Qurate, Inc. (Qurate, QRTEA, or the Company) in United States District Court for the District of Colorado. Plaintiffs in the QRTEA class action allege that they acquired Qurate stock at artificially inflated prices between August 5, 2015 and September 7, 2016 (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 QRTEA Lawsuit, please contact us today!

 

Summary of the Allegations

Company Background

According to its website, Qurate (NASDAQ:QRTEA/QRTEB) is comprised of “eight leading retail brands, reaching approximately 370 million homes worldwide through 16 television networks and multiple ecommerce sites, social pages, mobile apps, print catalogs and in-store destinations.”

Qurate’s brands include the TV shopping channels QVC and HSN, Zulily, Ballard Designs, Front Gate, Garnet Hill, grandinroad and Improvements. In all, the Company says, its brands reach 23 million customers.

Of all of its brands, QVC is the largest, “accounting for roughly 85 percent of the Company’s total revenue in 2016.” QVC programming in the United States is distributed “live 24 hours per day, 364 days per year,” and features an average of 800 products per week. Its live programming is distributed for eight to 24 hours per day in its international markets. QVC’s product categories include: home, apparel, beauty, electronics and jewelry.

Qurate’s claims about its growth and its failure to disclose the correlation of its growth with changes related to a QVC payment system called “Easy Pay” are at the crux of the September 6 complaint.

Summary of Facts

Qurate and four of its current and former officers and directors (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 Qurate’s growth and its correlation with changes to QVC’s “Easy Pay” program from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused the Company’s stock to trade at artificially inflated prices during the time in question.

The truth initially surfaced on August 5, 2015, when the Company issued a press release announcing the financial results for the quarter that ended on June 30, 2016. In it, the Company attributed a drop in QVC sales to “significant headwinds.”

During a conference call with analysts and investors that day, the Company admitted that there were “higher than expected write-offs on Easy Pay purchase from October and November last year.” However the Company also blamed other factors for the drop in sales.

Then at an industry conference held September 8, 2016, Qurate finally disclosed the extent of the impact “Easy Pay issues” had on its business.

A closer look…

As alleged in the September 6 complaint, the Company and/or Individual Defendants repeatedly made false or misleading public statements throughout the Class Period.

For instance, on a Third Quarter 2015 Earnings Call with analysts and investors on November 4, 2015, one of the Individual Defendants stated in pertinent part: “This strong customer growth was fueled by engaging products and programming, the continued work on personalization initiatives, enhanced digital marketing and growing mobile penetration.”

On its Fourth Quarter 2015 Earnings Call with analysts and investors, which was held on February 26, 2016, the same Individual Defendant stated in relevant part: “We think these strong customer dynamics are the result of our focus on compelling merchandise and content and our increasing focus on personalizing our digital platforms.”

Finally, during an Investor Meeting Call held May 15, 2016, another Individual Defendant stated in relevant part: “…since 2008, we’ve been able to manage our bad debt to about 1% of our business, and that is not starting to grow in any kind of dramatic way.”

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

Closing stock price prior to disclosures:

 

$21.46
Closing stock price the trading day after disclosures:

 

$19.59
One day stock price decrease (percentage) as a result of disclosures:

 

8.71%

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

 QRTEA Lawsuit, Qurate 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 5, 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 Qurate 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:

QRTEA Lawsuit, Qurate 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.


Law Firm For Cryptocurrency related cases

Class Action Reports

CRON Lawsuit Filed; Levi & Korsinsky Announces Cronos Lawsuit

Levi & Korsinsky, LLP

Chanda v. Cronos Group, Inc. et al 1:18-cv-08047-NRB — On September 4, 2018, investors sued Cronos Group, Inc. (“Cronos” or the “Company”) in United States District Court, Southern District of New York. Plaintiffs in the federal securities class action allege that they acquired Cronos stock at artificially inflated prices between August 21, 2018 and August 30, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. For more information about the CRON Lawsuit, please contact us today.

Summary of the Allegations

Company Background

According to its website, Cronos (NASDAQ:CRON) is “geographically diversified and vertically integrated cannabis group that operates within Health Canada’s Access to Cannabis for Medical Purposes Regulations and distributes globally.”

Cronos currently has 100 percent ownership of two Canadian companies that are licensed to produce, cultivate and sell medical marijuana. It also has partial ownership of a third Canadian company that is licensed to do so.

The Company is legally incorporated in Ontario, Canada, and based in Toronto.

Summary of Facts

Cronos and one of its officers/directors (the “Individual Defendant”) are now accused of deceiving investors by lying and withholding critical information about the Company’s business practices during the Class Period.

Specifically, they are accused of omitting truthful information about the size of the Company’s distribution agreements with the provinces from a press release. By knowingly or recklessly doing so, they allegedly caused the Company’s stock to trade at artificially inflated prices during the time in question.

The truth came out on August 30, 2018, when Citron Research published an article in which it alleged that, Cronos had been misleading investors by “purposely not disclosing the size of its distribution agreements with the provinces – unlike every other major cannabis player.” It also alleged that the reason for these omissions was that, “the agreements are so small that they could never justify the premium investors are paying for stock.”

A closer look…

According to the September 4 complaint, the Company and Individual Defendant made false and misleading public statements during the Class Period.

For example, in a press release issued on August 21, 2018, the Company said in relevant part: “Cronos Group has secured listings and signed binding master supply agreements with both the Ontario Cannabis Retail Corporation and the BC Liquor Distribution Branch.”

In the same press release, the Company also stated in relevant part: “The Company has also secured listings and has accepted supplier terms with the Nova Scotia Liquor Corporation and Prince Edward Island Liquor Corporation.”

Finally, in the same press release, the Individual Defendant said in pertinent part: “Day one we are ready to build and establish our brand through premium products and we are committed to building strong relationships with the provinces and our customers.”

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

Closing stock price prior to disclosures:

 

$12.74
Closing stock price the trading day after disclosures:

 

$9.12
One day stock price decrease (percentage) as a result of disclosures:

 

28.41%

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

 CRON Lawsuit, Cronos 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 5, 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 Cronos 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:

CRON Lawsuit, Cronos 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.


Law Firm For Cryptocurrency related cases

Class Action Reports

PVG Class Action Filed, Levi & Korsinsky Announces PVG Lawsuit

Levi & Korsinsky, LLP

Holtan v. Pretium Resources, Inc. et al 1:18-cv-08199-LAP — On September 7, 2018, investors sued Pretium Resources, Inc. (“Pretium” or the “Company”) in United States District Court, Southern District of New York. Plaintiffs in the PVG class action allege that they acquired Pretium stock at artificially inflated prices between July 21, 2016 and September 6, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. For more about the PVG Lawsuit, please contact us today!

 

Summary of the Allegations

Company Background

Pretium (NYSE:PVG) engages in the acquisition, exploration and development of “precious metal resource properties” in North, Central and South America.

According to its website, the Company “is creating value through gold by ramping up production of the 100%-owned Brucejack Mine.” Pretium says the mine, which is located near Stewart in northwestern British Columbia, is a “2,700 tonnes-per-day high-grade gold underground mine.” Commercial operations there started in June 2017, with production totaling “230,000 ounces of gold during the first nine months of ramp-up.”

Finally, the Company says a feasibility study initially done in 2014 and updated two years later “has outlined Proven and Probable mineral reserves in Brucejack’s Valley of the Kings comprising 8.1 million ounces of gold (15.6 million tonnes grading 16.1 grams per tonne gold).”

Pretium’s claims about gold production at the Brucejack Mine are at the crux of the September 7 complaint.

Summary of Facts

Pretium and two of its senior officers and/or directors (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 of omitting truthful information about the Brucejack Mine from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Pretium stock to trade at artificially inflated prices during the time in question.

The truth surfaced through a series of events that began when the Company issued a press release on January 23, 2018. In it, Pretium “disclosed lower gold production than previously disclosed, and also delayed achievement of steady state gold production and operation of the grade control program.”

Then, on September 6, 2018, Viceroy Research issued a report in which it accused the Company of distorting its mining results. Of significance here is Viceroy’s assertion that: “The overwhelming majority of our research indicates Pretium manipulated results of its bulk sample program through an overreliance on samples taken for the Cleopatra vein, thereby artificially inflating Pretium’s grades and reserve projections for the Brucejack Mine…”

A closer look…

As alleged in the September 7 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 July 3,2017, the Company said in pertinent part: “During the month of June, the process plant at Brucejack processed 70,805 tonnes of ore (87.4% of one-twelfth of yearly nameplate capacity) for an average of 2,360 tonnes per day.”

In another press release issued by the Company on September 21, 2017, Pretium said in relevant part: “All of the main operating units in the mill building are performing as expected, and the plant is consistently operating at nameplate capacity of 2,700 tonnes per day or better.”

Lastly, in a press release issued March 8, 2018, Pretium said in relevant part: “During the six months ended December 31, 2017, a total of 532,763 tonnes of ore, equivalent to a through put rate of 2,895 tonnes per day, was processed. The mill feed grade was 9.4 grams per tonne gold and 96.2 percent. We continue to review the mill process to optimize recoveries.”

Impact of the Alleged Fraud on Pretium Stock Price and Market Capitalization

Closing stock price prior to disclosures:

 

$7.71
Closing stock price the trading day after disclosures:

 

$6.94
One day stock price decrease (percentage) as a result of disclosures:

 

9.99%

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

 PVG Lawsuit PVG 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 Pretium 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:

PVG Lawsuit PVG 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.


Law Firm For Cryptocurrency related cases

Class Action News

Levi & Korsinsky Named Top Law Firm for Shareholders

Levi & Korsinsky, LLP

September 17, 2018

On September 11, 2018, legal analytics firm Lex Machina released its 2018 Securities Litigation Report presenting findings uncovered by analyses of over its database including over 15,000 securities cases.  Based on these analyses, the report ranked Levi & Korsinsky as the busiest and leading law firm in federal securities cases filed between January 2017 and June 30, 2018, naming them the top Law Firm for Shareholders. More specifically, the report found that during that eighteen-month period, the firm filed an impressive 266 federal securities lawsuits—30% more than the next highest ranked firm.

In reference to Levi & Korsinsky and its newfound leading role in federal securities litigation, Owen Byrd, Lex Machina’s general stated to the New York Law Journal that the firm is “aggressively expanding their practice in plaintiffs-side securities work.”

In a Law360 article published detailing Lex Machina’s findings, it was noted that Levi & Korsinsky is also the “top law firm for shareholders.” Founding Partner, Eduard Korsinsky, told Law360 that the firm’s success stems from its resolute focus on protecting the investing public through securities litigation and unparalleled work ethic: “This is all we do, and we all work hard each and every day to do it better than everyone else.”

Full versions of the Law360 article and New York Law Journal article are available at https://www.law360.com/articles/1080858 and https://www.law.com/newyorklawjournal/2018/09/12/theres-been-a-rise-in-securities-lawsuits-over-cryptocurrencies-and-sec-cases-are-behind-it-389-43337/?LikelyCookieIssue=true, respectively.

For more information about this accomplishment, or to speak with an attorney regarding your securities litigation issues, please contact us today!


Law Firm For Cryptocurrency related cases

Merger News

Levi & Korsinsky Investigates Fairness Surrounding REIS Merger

Levi & Korsinsky, LLP

September 14, 2018

NEW YORK, August 30, 2018 – The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Reis, Inc. (“Reis” or the “Company”) (NASDAQGS: REIS) stock prior to August 30, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Reis to Moody’s Corporation (NYSE: MCO) for $23.00 per share. To learn more about the REIS Merger go tohttps://www.zlk.com/mna/reis-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 Reis merger investigation concerns whether the Board of Reis breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Moody’s Corporation is underpaying for Reis shares, thus unlawfully harming Reis 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.


Levi & Korsinsky Investigates Fairness Surrounding K2M Merger KTWO

Merger News

Levi & Korsinsky Investigates Fairness Surrounding K2M Merger

Levi & Korsinsky, LLP

To: All Persons or Entities who purchased K2M Group Holdings, Inc. (“K2M” or the “Company”) (NASDAQGS: KTWO) stock prior to August 30, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of K2M to Stryker (NYSE: SYK) for $27.50 per share. To learn more about the KTWO Merger go tohttps://www.zlk.com/mna/k2m-group-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 K2M merger investigation concerns whether the Board of K2M breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Stryker is underpaying for K2M shares, thus unlawfully harming K2M 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.


Law Firm For Cryptocurrency related cases

Class Action News

Levi & Korsinsky Announces CBS Corporation Lawsuit, CBS Lawsuit

Levi & Korsinsky

NEW YORK, September 14, 2018 – Levi & Korsinsky, LLP announces a class action on behalf of CBS Corporation (NYSE: CBS) shareholders who purchased shares between February 14, 2014 and July 27, 2018. The CBS 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 CBS class action go to: http://www.zlk.com/pslra-1/cbs-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.

The CBS lawsuit alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) CBS executives, including the company’s Chairman and Chief Executive Officer, Leslie “Les” Moonves, had engaged in widespread workplace sexual harassment at CBS; (2) CBS’s enforcement of its own purported policies was inadequate to prevent the foregoing conduct; (3) the foregoing conduct, when revealed, would foreseeably subject CBS to heightened legal liability and impede the ability of key CBS personnel to execute the company’s business strategy; and (4) as a result, CBS’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you suffered a loss in CBS you have until October 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


Law Firm For Cryptocurrency related cases

Class Action Reports

LCI Class Action Filed; Levi & Korsinsky Announces LCI Lawsuit

Levi & Korsinsky, LLP

September 13, 2018

Strougo v. Lannett Company, Inc. et al 2:18-cv-03635 — On August 24, 2018, investors sued Lannett Company, Inc. (“Lannett” or the “Company”) in United States District Court, Eastern District of Pennsylvania. Plaintiffs in the LCI Class Action allege that they acquired Lannett stock at artificially inflated prices between February 7, 2018 and August 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 LCI Lawsuit, please contact us today!

 

Summary of the Allegations

Company Background

The Company (NYSE: LCI) bills itself as “a leading manufacturer of over 100 unique pharmaceutical product families that save and enhance people’s lives.” As such, it says it has “top-notch facilities for research and development, manufacturing, packaging, business, and distribution” in four states.

According to the August 24 complaint, most of the Company’s revenue is generated through the sale of drugs that are “bioequivalent to certain patented drugs once their patent expires.”

The Company’s claims about its exclusivity agreement with its leading supplier, Jerome Stevens Pharmaceuticals (“JSP”) are at the heart of the August 24 complaint.

Summary of Facts

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

Specifically, they are accused of omitting truthful information about the status of Lannett’s agreement with JSP from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused the Company’s stock to trade at artificially inflated prices during the time in question.

The truth came out before the market opened on August 20, 2018, when the Company announced that its distribution agreement with JSP would not be renewed.

A closer look…

As alleged in the August 24 complaint, the Company and/or Individual Defendants repeatedly made false or misleading public statements during the Class Period.

For example, in a press release issued on February 7, 2018, one of the Individual Defendants said in pertinent part: “While we have revised several components of our outlook, we expect our profitability on an adjusted basis for the fiscal 2018 full year to slightly improve from our previous guidance.”

Then, on a form filed with the SEC on February 8, 2018, the Company referred to its JSP Distribution Agreement, saying in relevant part: “During the renewal term of the JSP Distribution Agreement, the Company is required to use commercially reasonable efforts to purchase minimum dollar quantities of JSP products. If the Company does not meet the minimum purchase requirements, JSP’s sole remedy is to terminate the JSP Distribution Agreement.”

Finally, on an earnings call with analysts for the third quarter of 2018, one of the Individual Defendants answered a question about the JSP Distribution Agreement, saying in relevant part: “…I’m optimistic that we’ll get a chance to renew this agreement when it’s right for, there is clearly nothing more important to our business than doing so, and we’ll continue to be focused on doing just that.”

What the Company failed to disclose, however, was that it “faced a substantial risk of the loss of its exclusivity agreement with JSP,” and that as a result, its reported revenues were unsustainable.

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

Closing stock price prior to disclosures:

 

$13.50
Closing stock price the trading day after disclosures:

 

$5.35
One day stock price decrease (percentage) as a result of disclosures:

 

60.37%

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

 LCI Lawsuit, LCI Class Action, Lannett

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 October 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 Lannett 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:

LCI Lawsuit, LCI Class Action, Lannett

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.

 


Levi & Korsinsky Investigates Fairness Surrounding K2M Merger KTWO

Class Action Reports

PZZA Class Action Filed; Levi & Korsinsky Announces Papa John’s Lawsuit

Levi & Korsinsky, LLP

Danker v. Papa John’s International, Inc., et al 1:18-cv-07927 — On August 30, 2018, investors sued Papa John’s International, Inc. (“Papa John’s) in United States District Court, Southern District of New York. Plaintiffs in the PZZA class action allege that they acquired Papa John’s stock at artificially inflated prices between February 25, 2014 and July 19, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of Papa John’s alleged misconduct during that time. For more information on the Papa John’s Lawsuit, please contact us today!

Summary of the Allegations

Company Background

Papa John’s (NASDAQ: PZZA) has been in business since 1984 and is “among the largest carryout and pizza delivery restaurant chains in the United States.” It also has restaurants and provides pizza delivery services overseas. Specifically, Papa John’s claims it has more than 5,000 locations in 45 countries and territories globally.

Founded by John Schnatter, Papa John’s is incorporated in Delaware and is based in Louisville, Kentucky.

Schnatter served as Papa John’s CEO from April 20ll through December 2017. The company’s failure to disclose his alleged misconduct, as well as that of other executives, is at the crux of the August 30 complaint.

Summary of Facts

Papa John’s 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 the company’s business, compliance and operational policies during the Class Period.

Specifically, they are accused of omitting truthful information about inappropriate workplace behavior and the company’s ability to prevent it from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Papa John’s stock to trade at artificially inflated prices during the time in question.

The truth emerged in a series of events beginning after the market closed on July 10 and on July 11, 2018. During that time, news broke that Schnatter, who was then chairman of the board, had used a racial slur during a conference call in May 2018. Papa John’s announced Schnatter’s resignation as chairman after its stock price dropped by more than 4.8% on July 11.

Then, on July 19, 2018, Forbes published an article about the “toxic culture” at Papa John’s, in which it cited “interviews with 37 current and former Papa John’s employees – including numerous executives and board members.” As the article stated, “Schnatter’s alleged behavior ranges from spying on his workers to sexually inappropriate conduct, which has resulted in at least two confidential settlements.” The article further stated that Schnatter “installed loyalists in the firm’s top ranks, which enabled its ‘bro’ culture” in order to shield himself.

A closer look…

The August 30 complaint alleges that Papa John’s and/or the Individual Defendants repeatedly made false and misleading public statements throughout the Class Period.

For instance, on a form filed with the SEC on February 25, 2014, Papa John’s acknowledged that it had adopted a written code of ethics (the “Code of Ethics and Business Conduct”), and noted in pertinent part that it “applies to our directors, officers and employees.”

The Code of Ethics and Business Conduct referenced on the form also states in pertinent part: “In addition, Papa John’s is committed to providing a workplace for its team members that is free of harassment or other intimidating, hostile or offensive behavior based on any of the above characteristics or any other characteristic protected by applicable law.”

On another form filed with the SEC on February 27, 2018, Papa John’s said in relevant part: “If we are unsuccessful in managing incidents that erode consumer trust or confidence, particularly if such incidents receive considerable publicity or result in litigation, our brand value and financial results could be negatively impacted.”

What Papa John’s failed to disclose, however, was that its executives, including Schnatter, “had engaged in a pattern of sexual harassment and other inappropriate workplace conduct at the Company.” Papa John’s also failed to disclose that its Code of Ethics and Business Conduct lacked the provisions necessary to prevent such conduct, and also the effects that this conduct have had on the business.

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

Closing stock price prior to disclosures:

 

$53.60
Closing stock price the trading day after disclosures:

 

$51.00
One day stock price decrease (percentage) as a result of disclosures:

 

4.85%

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

Papa John's Lawsuit, PZZA 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 October 29, 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 Papa John’s 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:

Papa John's Lawsuit, PZZA 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.


Levi & Korsinsky Investigates Fairness Surrounding K2M Merger KTWO

Class Action Reports

CBS Lawsuit Filed; Levi & Korsinsky Announces CBS Class Action

Levi & Korsinsky, LLP

Samit v. CBS Corporation et al 1:18-cv-07796 — On August 27, 2018, investors sued CBS Corporation (“CBS” or the “Company”) in United States District Court, Southern District of New York. Plaintiffs in the CBS Class Action allege that they acquired CBS stock at artificially inflated prices between February 14, 2014 and July 27, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during the time in question. For more information about the CBS Lawsuit, please contact us today!

 

Summary of the Allegations

Company Background

The Company (NYSE:CBS) is a “mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world.”

CBS claims that it owns “the most-watched television network in the U.S.,” and that it has “businesses with origins that date back to the dawn of the broadcasting age.” Its businesses include but are not limited to: CBS Television Network, The CW, Network Ten Australia, CBS Television Studios, CBS Studios International, and CBS Television Distribution.

Summary of Facts

CBS and two of its senior executives and/or directors now stand accused of deceiving investors by lying or withholding critical information about the Company’s business, operational and compliance policies during the Class Period.

Specifically, they are accused of omitting truthful information about acts perpetrated by certain executives, and the efficacy and enforcement of certain policies from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused CBS stock to trade at artificially inflated prices during the time in question.

The truth emerged on July 27, 2018, when “media outlets reported that The New Yorker would shortly publish an article detailing allegations of sexual misconduct by CBS chairman and chief executive officer Leslie Moonves and other executives at the Company.”

A closer look…

As alleged in the August 27 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 11, 2014, the Company referenced its Business Conduct Statement (BCS). Section VI of that document states in pertinent part: “CBS has a ‘zero tolerance’ policy for sexual harassment…”

On another form filed with the SEC on April 10, 2015, the Company again referred to its BCS, saying in relevant part: “The Company’s Business Conduct Statement (BCS) sets forth the Company’s standards for ethical conduct that are expected of all directors and employees of the Company.”

Finally, on a form filed with the SEC on February 17, 2017, the Company said in pertinent part: “The Company’s business depends upon the continued efforts, abilities and expertise of its chief executive officer and other key employees and entertainment personalities.”

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

Closing stock price prior to disclosures:

 

$57.53
Closing stock price the trading day after disclosures:

 

$54.01
One day stock price decrease (percentage) as a result of disclosures:

 

6.12%

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

CBS Lawsuit, CBS 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 October 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 CBS 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:

CBS Lawsuit CBS 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.


lci class action, lannett class action

Class Action News

Levi & Korsinsky Announces LCI Lawsuit, Lannett Company Class Action

Levi & Korsinsky

NEW YORK, September 13, 2018 – Levi & Korsinsky announces a class action commenced on behalf of Lannett Company, Inc. (“Lannett”) (NYSE: LCI) shareholders who purchased shares between February 7, 2018 and August 17, 2018. The Lannet Company class action lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania. To get more information about the LCI lawsuit, go to: http://www.zlk.com/pslra-1/lannett-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 complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Lannett faced a substantial risk of the loss of its exclusivity agreement with Jerome Stevens Pharmaceuticals; (2) accordingly, Lannett’s reported revenues were unsustainable; and (3) as a result, Lannett’s public statements were materially false and misleading at all relevant times.

If you suffered a loss in Lannett you have until October 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


ahl merger, Aspen Insurance merger

Merger News

Levi & Korsinsky Investigating Aspen Insurance Merger, AHL Acquisition

Levi & Korsinsky

NEW YORK, September 13, 2018 – Levi & Korsinsky, LLP is investigating the sale of Aspen Insurance Holdings Limited (“Aspen Insurance Holdings” or the “Company”) (NYSE: AHL). The investigation concerns the fairness of the sale of Aspen Insurance Holdings to funds managed by affiliates of Apollo Global Management, LLC (the “Apollo Funds”) for $42.75 in cash per share. To learn more about the Aspen Insurance merger and your rights, go tohttp://www.zlk.com/mna/aspen-insurance-holdings-limited or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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

 


Class Action Reports

NVRO Lawsuit; Levi & Korsinsky Announces NVRO Class Action

Levi & Korsinsky, LLP

September 12, 2018

Oklahoma Police Pension and Retirement System v. Nevro Corp. et al 3:18-cv-05181 — On August 23, 2018, investors sued Nevro Corp. (Nevro, NVRO or the Company) in United States District Court, Northern District of California. Plaintiffs in the NVRO class action allege that they acquired Nevro stock at artificially inflated prices between January 8, 2018 and July 12, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. For more information on the NVRO Lawsuit, please contact us today!

Summary of the Allegations

Company Background

The Company (NYSE:NVRO) is a self-described medical device business that has developed “an innovative, evidence-based non-pharmacologic neuromodulation platform for the treatment of chronic pain.”

Nevro has been in business since 2006.  Within two years, it engaged in “groundbreaking” research at Stanford University and “validation research” at U.C. Davis. The FDA approved Nevero’s HF10 therapy in 2015.

The Company’s claims about its HF10 therapies and related spinal cord stimulation (SCS) systems are at the crux of the August 23 complaint.

Summary of Facts

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

Specifically, they are accused of omitting truthful information about Nevro’s acquisition and use of certain trade secrets in connection with the development of its SCS systems from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Nevro stock to trade at artificially inflated prices during the time in question.

The truth emerged in a series of events beginning on April 27, 2018. On that day, the public learned that Boston Scientific sued Nevro for alleged patent infringement, theft of trade secrets and tortious interference with contract.

Then, on May 7, 2018, Nevro announced its first quarter results for 2018 and attributed a significant increase in operating expenses to “legal expenses associated with intellectual property litigation” with Boston Scientific.

Developments continued in early July 2018, when analysts downgraded Nevro’s stock and reported on a tentative ruling in Nevro’s ongoing litigation with Boston Scientific. The tentative ruling in that case “invalidated at least five of the patents related to Nevro’s purportedly ‘proprietary’ HF10 therapy and Senza systems.”

Finally, before the market opened on July 13, 2018, the Company announced that it had fired its vice president of worldwide sales.

A closer look…

As alleged in the August 23 complaint the Company and/or Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For example, in a press release issued January 8, 2018, the Company stated in pertinent part: “Nevro has developed and commercialized the SENZA spinal cord stimulation (SCS) system, an evidence-based, non-pharmalogic neuromodulation platform for the treatment of chronic pain. The SENZA system is the only SCS system that deliver’s Nevro’s proprietary HF10 therapy.”

On a form filed with the SEC on February 22, 2018, Nevro also stated in relevant part: “We are extending our novel and proprietary technologies into a series of product enhancements with the goal of improving the treatment of chronic pain.”

Finally, during an earnings call with investors also held on February 22, one of the Individual Defendants acknowledged Nevro’s “growing sales revenue,” saying in relevant part: “These results are driven by continued adoption and demand for HF10 globally and consistent execution by our sales team.”

What the Company failed to disclose, however, was that its SCS systems were not “novel” or “proprietary” because it had used “protected confidential and proprietary trade secrets and stolen documents” to develop them. The Company also failed to divulge that this alleged conduct caused it to be “vulnerable to increased litigation expenses and adverse legal and regulatory action,” thereby making its U.S. sales growth unsustainable.

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

Closing stock price prior to disclosures:

 

$68.04
Closing stock price the trading day after disclosures:

 

$57.77
One day stock price decrease (percentage) as a result of disclosures:

 

15.09%

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

NVRO Lawsuit, NVRO Class Action, Nevro

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 October 22, 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 Nevro 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:

NVRO Lawsuit NVRO Class Action Nevro

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.


Class Action Reports

AMPE Lawsuit Filed; Levi & Korsinsky Announces AMPE Class Action

Levi & Korsinsky, LLP

Shi v. Ampio Pharmaceuticals, Inc. et al 2:18-cv-07476 — On August 25, 2018, investors sued Ampio Pharmaceuticals, Inc. (Ampio, AMPE or the Company) in United States District Court, Central District of California. Plaintiffs in the AMPE class action allege that they acquired Ampio stock at artificially inflated prices between December 14, 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 about the AMPE Lawsuit, please contact us today!

 

Summary of the Allegations

Company Background

Ampio (NYSE: AMPE) bills itself as an “innovative drug discovery and development company” that engages in the development of medicinal treatments for inflammatory diseases, including but not limited to osteoarthritis.

The Company claims that its, “therapeutic product pipeline has been developed through more than two decades of study at leading hospital-based research centers.” It also claims that it has received more than 100 patents globally and that it has “hundreds more” pending.

Ampio’s contentions about one of its lead product candidates, Ampion, are at the crux of the August 25 lawsuit.

Summary of Facts

Ampio and two of its senior officers and directors (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 status of a Phase 3 clinical trial for Ampion from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Ampio stock to trade at artificially inflated prices during the time in question.

The truth emerged after the market closed on August 7, 2018. That’s when the Company announced “updated business disclosures” in which it disclosed that the FDA had not approved one of its clinical trials for Ampion. It said in pertinent part, “Despite our belief that the APC-003-C trial design was based on FDA guidance and feedback consistent with FDA precedent for similar products (in intended use, in origin, and in regulatory pathway), which we reiterated with the FDA multiple times, the FDA does not consider the AP-003-C [sic] trial to be an adequate and well-controlled clinical trial.”

A closer look…

As alleged in the August 25 complaint, the Company and/or 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, the Company said in pertinent part: “We look forward to working closely with the U.S. Food and Drug Administration (FDA) as we prepare to submit our Biologics License Application (BLA) for Ampion.”

Then, on a “slide deck” attached to a form filed with the SEC on January 8, 2018, the Company said in pertinent part: “Ampion has successfully completed two pivotal Phase 3 trials for the signs and symptoms [sic] severe OAK.” (Osteoarthritis of the knee.)

Finally, on a form filed with the SEC on March 6, 2018, the Company said in pertinent part: “When treated with Ampion, patients experienced significant improvement in a composite endpoint of pain and function compared to all severely diseased saline-treated patients in historical Ampion phase II clinical trials.”

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

Closing stock price prior to disclosures:

 

$2.86
Closing stock price the trading day after disclosures:

 

$0.61
One day stock price decrease (percentage) as a result of disclosures:

 

78.67%

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

Ampe Class Action ampe lawsuit Ampio Lawsuit Ampio 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 October 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.

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 Ampion 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:

ampe lawsuit ampe class action ampio

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.


nvro lawsuit, Nevro class action

Class Action News

Levi & Korsinsky Announces NVRO Lawsuit, Nevro Class Action Commenced

Levi & Korsinsky

September 7, 2018

NEW YORK, September 7, 2018 – Levi & Korsinsky, LLP announces a class action on behalf of shareholders of Nevro Corp. (NYSE: NVRO) who purchased shares between January 8, 2018 and July 12, 2018. You are hereby notified that the Nevro lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information about the NVRO class action go to: http://www.zlk.com/pslra-1/nevro-corp-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 Nevro complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Nevro had engaged in a fraudulent scheme by using protected confidential and proprietary trade secrets and stolen documents from its competitors to develop and enhance the Company’s Senza I and Senza II systems; (2) as a result, Nevro’s Senza I and Senza II systems were not “novel” or “proprietary;” (3) these practices caused Nevro to be vulnerable to increased litigation expenses and adverse legal and regulatory action; (4) as a result, Nevro’s U.S. sales growth was not sustainable; and (5) consequently, defendants’ statements about Nevro’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

If you suffered a loss in Nevro you have until October 22, 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


ampio lawsuit, ampe lawsuit

Class Action News

Levi & Korsinsky Announces AMPE Lawsuit, Ampio Class Action Commenced

Levi & Korsinsky

NEW YORK, September 7, 2018 – Levi & Korsinsky, LLP announces a class action on behalf of shareholders of Ampio Pharmaceuticals, Inc. (NYSE American: AMPE) who purchased shares between December 14, 2017 and August 7, 2018. The Ampio lawsuit alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the FDA would find Ampio’s AP-003-C Phase 3 clinical trial inadequate and not well-controlled; (2) as a result, Ampio had not successfully completed two pivotal clinical trials for Ampio; (3) consequently, Defendants’ public statements were materially false and misleading at all relevant times. To get more information about the AMPE lawsuit go to: http://www.zlk.com/pslra-1/ampio-pharmaceuticals-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.

If you suffered a loss in Ampio you have until October 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


navg merger investigation, Navigators merger

Merger News

Levi & Korsinsky Investigating The Navigators Group Merger, NAVG Acquisition

Levi & Korsinsky

Levi & Korsinsky, LLP announces the investigation into the sale of The Navigators Group, Inc. (NASDAQGS: NAVG) to The Hartford for $70 in cash per share.

To learn more about the Navigators investigation and your rights, go tohttp://www.zlk.com/mna/the-navigators-group-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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


LogMeIn class action, LOGM class action

Class Action News

Levi & Korsinsky Announces LogMeIn Class Action, LOGM Lawsuit

Levi & Korsinsky

September 6, 2018

NEW YORK, September 6, 2018 – by Levi & Korsinsky, LLP announces a class action on behalf of shareholders who purchased securities of LogMeIn, Inc. (“LogMeIn, Inc.”) (NASDAQ: LOGM) between March 1, 2017 and July 26, 2018. To get more information go to: http://www.zlk.com/pslra-d/logmein 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 LogMeIn complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) LogMeIn’s business practices had negatively impacted renewal rates for certain of its services; and (2) as a result, Defendants’ public statements were materially false and misleading at all relevant times. Following this news, shares of LogMeIn fell $26.60 to close at $77.85 per share on July 27, 2018.

If you suffered a loss in LogMeIn, Inc. you have until October 19, 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.

 


pinduoduo lawsuit, pdd class action

Class Action News

Levi & Korsinsky Announces Pinduoduo Class Action, PDD Lawsuit

Levi & Korsinsky

NEW YORK, September 6, 2018 – Levi & Korsinsky, LLP announces a class action on behalf of shareholders who purchased shares of Pinduoduo Inc. (“Pinduoduo”) (NASDAQ: PDD) between July 26, 2018 and July 31, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information go to: http://www.zlk.com/pslra-1/pinduoduo-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 Pinduoduo complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Pinduoduo’s controls were ineffective to prevent third-party vendors from selling counterfeit goods on the Company’s online platform; (ii) consequently, Pinduoduo’s revenues and the number of active merchants using its platform were traceable in part to unlawful conduct and thus unsustainable; and (iii) as a result, Pinduoduo’s public statements were materially false and misleading at all relevant times.

If you suffered a loss in Pinduoduo you have until October 22, 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.


wsi industries merger, wsci merger

Merger News

Levi & Korsinsky Investigating the WSI Industries Merger, WSCI Acquisition

Levi & Korsinsky

Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of WSI Industries, Inc. (NASDAQCM: WSCI) to Polaris Industries Inc. for $7.00 in cash per share. To learn more about the action and your rights, go tohttps://www.zlk.com/mna/wsi-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 WSI Industries merger investigation concerns whether the Board of WSI Industries breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Polaris Industries Inc. is underpaying for WSI Industries shares, thus unlawfully harming WSI Industries 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.


atlantia investigation, atasy investigation

Class Action News

Levi & Korsinsky Announces Atlantia Investigation; ATASY Investigation Commences

Levi & Korsinsky

September 5, 2018

Levi & Korsinsky announces it has commenced an investigation of Atlantia S.p.A. (“Atlantia” or “the Company”) (OTCMKTS: ATASY) concerning possible violations of federal securities laws. On August 14, 2018, a motorway bridge operated by Atlantia’s subsidiary Autostrade per L’Italia (“Autostrade”) collapsed, killing 43 people. On August 16, 2018, media outlets reported that the Italian government had opened an investigation into Autostrade. Italy’s Deputy Transport Minister stated that the government was considering revoking Autostrade’s operating concession and imposing a fine of upwards of €150 million on Autostrade. On this news, Atlantia’s American depositary receipt price fell 13.7%, to close at $10.45 on August 16, 2018. For more information


fpi class action expansion, farmland partners class action

Class Action News

FPI Class Action Expands Class Period, Class Action Continues

Levi & Korsinsky

NEW YORK, September 5, 2018 – Levi & Korsinsky, LLP announces the expansion of the class period concerning shareholders of Farmland Partners Inc. (“Farmland Partners Inc.”) (NYSE: FPI). The Farmland class action has been expanded to include FPI shareholders who purchased shares between March 16, 2016 and July 10, 2018.

To get more information go to: http://www.zlk.com/pslra-d/farmland-partners-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The FPI complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Farmland artificially increased revenues by making loans to related-party tenants who round-tripped the cash back to Farmland as rent; (2) as a result, Farmland’s earnings during fiscal year 2017 were materially overstated; (3) the true extent and effect of Farmland’s non-arm’s length transactions; and (4) as a result, Defendants’ statements about the Company’s business, operations and prospects were materially false and misleading and/or lacked reasonable bases at all relevant times.

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

 

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

 

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


tsla lawsuit tesla lawsuit

Class Action News

Levi & Korsinsky Announces TSLA Lawsuit, Tesla Class Action Commenced

Levi & Korsinsky

NEW YORK, September 5, 2018 – Levi & Korsinsky, LLP announces a class action commenced on behalf of Tesla, Inc. (“Tesla, Inc.”) (NASDAQ: TSLA) shareholders who purchased shares between August 7, 2018 and August 17, 2018. You are hereby notified that the TSLA class action lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information go to: http://www.zlk.com/pslra-1/tesla-inc-loss-submission-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 Tesla complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) that the Defendants had not secured funding for the Going-Private Transaction; (2) that Musk’s statements that the Going-Private Transaction only required shareholder approval were false since the Going-Private Transaction required approval by the Company’s Board of Directors and even the Board was unaware of the funding referred to by Musk; (3) that the status and likelihood of the Going-Private Transaction was misrepresented to the market because financing for it had not been secured and Board approval was required, and (4) as a result of the foregoing, Defendants’ statements about Tesla’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

If you suffered a loss in Tesla, Inc. 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


LOGM Lawsuit, LOGM Class Action, LogMeIn Lawsuit, LogMeIn Class Action

Class Action Reports

LOGM Lawsuit Filed; Levi & Korsinsky Announces LOGM Class Action

Levi & Korsinsky, LLP

Wasson v. LogMeIn, Inc., et al 2:18-cv-07285 — On August 20, 2018, investors sued LogMeIn, Inc. (“LogMeIn” or the “Company”) in United States District Court, Central District of California. Plaintiffs in the LOGM class action allege that they acquired LogMeIn stock at artificially inflated prices between March 1, 2017 and July 26, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. For any additional information on the LOGM Lawsuit, or to join the class action, please contact us today!

 

Summary of the Allegations

Company Background

According to its website, the Company (NASDAQ:LOGM) provides products that simplify “how people interact with each other and the world around them.”

Specifically, LogMeIn provides “a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions.” Its products include GOTOMEETING, GOTOWEBINAR, OPENVOICE, GOTOASSIST and LASTPASS.

LogMeIn also claims that its platform supports 2 million daily users, 200 million customer engagements and five billion voice minutes per year.

The Company is incorporated in Delaware and based in Goleta, California.

Summary of Facts

LogMeIn and two of its senior 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 the effect of LogMeIn’s business practices on some of its renewal rates from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused LogMeIn stock to trade at artificially inflated prices during the time in question.

The truth emerged during an earnings call held by the Company after the market closed on July 26, 2018. During the call, which the Company held to report is second quarter 2018 earnings, the Individual Defendants revealed that the Company “implemented strategies which negatively impacted renewal rates of certain of its services, including amongst its GoTo clients.”

A closer look…

As alleged in the August 20 complaint, the Company repeatedly made false and misleading public statements during the Class Period.

For example on a form filed with the SEC on March 1, 2017, LogMeIn said in relevant part: “Customers have no obligation to renew their subscriptions after their subscription period expires, and these subscriptions may not be renewed on the same or on more profitable terms. As a result, our ability to grow depends in part on subscription renewals.”

Then, on another form filed with the SEC on February 20, 2018, the Company also said in pertinent part: “As we continue to integrate the GoTo Business, we will monitor and assess our renewal rate calculation and methodology to ensure that it is appropriate for the combined company.”

What the Company didn’t divulge until the July 26 earnings call was that some of its strategies following its 2017 merger with the GoTo business had completely backfired.

During the call, one of the Individual Defendants finally acknowledged the extent of the damage, saying in pertinent part: “As we move [sic] through the quarter, it became increasingly clear that some of the business practices we put in place following the merger were negatively impacting renewal rates. Aggressively moving customers from monthly to annual payments, changing business terms and conditions and barriers we created [sic] the auto renewal process all contributed to friction for our customers and made us harder to do business with.”

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

Closing stock price prior to disclosures:

 

$104.45
Closing stock price the trading day after disclosures:

 

$77.85
One day stock price decrease (percentage) as a result of disclosures:

 

25.47%

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

LOGM Lawsuit LOGM 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 October 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 LogMeIn 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:

LOGM Lawsuit LOGM 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.


LOGM Lawsuit, LOGM Class Action, LogMeIn Lawsuit, LogMeIn Class Action

Class Action Reports

NLSN Lawsuit Filed; Levi & Korsinsky Announces NLSN Class Action

Levi & Korsinsky, LLP

Gordon v. Nielsen Holdings plc et al 1:18-cv-07143 — On August 8, 2018, investors sued Nielsen Holdings plc (“Nielsen” or the “Company”) in U.S. District Court, Southern District of New York. The NLSN Lawsuit alleges that plaintiffs acquired Nielsen stock at artificially inflated prices between February 8, 2018 and July 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 more information on the NLSN Class Action Lawsuit, please inquire within. 

 

Summary of the Allegations

Company Background

Nielsen (NYSE:NLSN) bills itself as a “leading global performance management company.” As such, it says it gives its clients “a comprehensive understanding of what consumers watch and what they buy and how those choices intersect.”

To that end, the Company classifies its business operations as “Buy” and “Watch” segments.  According to the August 8 Complaint, the former supposedly provides “retail transactional measurement data, consumer behavior information and analytics primarily to businesses in the packaged-goods industry.” Specifically, the complaint states that the Company “track[s] billions of sales transactions per month in retail outlets globally and [its] data is used to measure their sales and market share.” Last year, this segment accounted for 49% of Nielsen’s revenue.

On the other hand, the Company’s “Watch” segment accounted for more than half (51%) of its revenue in 2017. According to the Complaint, this segment “provides viewership and listening data and analytics primarily to the media and advertising industries across the television, radio, print, online, digital, mobile viewing and listening platforms.” In this context, ratings are “the primary metrics used to determine the value of programming and advertising in the U.S. television advertising marketplace.”

Summary of Facts

Nielsen and two of its top officers and/or directors are now accused of deceiving investors by lying and withholding critical information about Nielsen’s business practices and prospects during the Class period.

Specifically, they stand accused of omitting truthful information about the impact of certain regulations on Nielsen’s business and the Company’s reliance on “third-party data” from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Nielsen stock to trade at artificially inflated prices during the time in question.

The truth emerged on July 26 2018, when the Company revealed that its revenue and earnings for the second quarter failed to meet expectations. Among other things, the Company blamed the shortfall on “General Data Protection Regulation and changes in the consumer data privacy landscape.” The Company also said its “digital advertising ecosystem saw a disruption in the second quarter as large digital platforms made changes to their offerings to increase security for consumer data.”

 

 

A Closer Look…

As alleged in the August 8 Complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For example, during a February 8, 2018 conference call for analysts and investors, one of the Individual Defendants answered a question about General Data Protection Regulation (GDPR) saying in pertinent part: “GDPR, we’ve been focused on this for some time. We have a big team that’s working on it. We’ve been out in front of it. We’re ready. We don’t expect to see any major impact on our business. We still – we’ll still have access to all the data that we’re going to need for our products. So yes, we’re in good shape.”

Then, on an April 26, 2018 conference call for analysts and investors, the Company “reiterated the first quarter 2018 financial results reported in the press release and assured investors that the Company was currently on track to meet year 2018 financial guidance, including $800 million in free cash flow, by the end of 2018.”

Finally, at an industry conference held May 31, 2018, one of the Individual Defendants stated in pertinent part: “For measurement, we still have access to all the data that we need for our measurement products, including our relationship with Facebook.”

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

Closing stock price prior to disclosures:

 

$29.57
Closing stock price the trading day after disclosures:

 

$22.11
One day stock price decrease (percentage) as a result of disclosures:

 

25.23%

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

NLSN Lawsuit, NLSN 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 October 9, 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 Nielsen 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:

NLSN Class Action NLSN 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.


LOGM Lawsuit, LOGM Class Action, LogMeIn Lawsuit, LogMeIn Class Action

Class Action Reports

Levi & Korsinsky Announces ORCL Lawsuit; Oracle Class Action Filed

Levi & Korsinsky, LLP

City of Sunrise Firefighters’ Pension Fund v. Oracle Corporation et al 3:18-cv-04844 — On August 10, 2018, investors sued Oracle Corporation (Oracle, ORCL, or the Company) in United States District Court, Northern District of California. Plaintiffs in the Oracle class action (ORCL Class Action) allege that they acquired Oracle stock at artificially inflated prices between May 10, 2017 and March 19, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. For more information on the ORCL Lawsuit, please contact us today.

 

Summary of the Allegations

Company Background

Oracle (NYSE:ORCL) is a self-described “global provider of enterprise cloud computing.”

As such, it says it “provides industry-specific applications for running a customer’s core business, on premises or in the cloud, for more than two dozen industries.” Specifically, the Company claims it has 430,000 customers in 175 countries, and 25,000 partners.

Oracle also says that it employs more than 138,000 people, including 40,000 developers and engineers; 16,000 support and services specialists, who speak 29 languages; and 19,000 implementation consultants.

Summary of Facts

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

Specifically, they are accused of omitting truthful information about the Company’s growth in cloud revenue from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Oracle stock to trade at artificially inflated prices during the time in question.

The truth came out on March 19, 2018, when Oracle revealed that its cloud revenue growth “had stagnated and forecasted significantly slower sales growth for its cloud business than its competitors.”

According to the August 10 complaint, in the wake of this revelation,  “market researchers and the media connected Oracle’s poor financial performance to its aggressive sales tactics.”

A closer look…

The August 10 complaint also alleges that the Company and/or Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For instance, in a press release that was also filed on a form with the SEC on June 21, 2017, the Company reported that, “quarterly cloud revenues were up 58% to $1.4 billion.”

Then on a September 14, 2017, conference call with analysts and investors, one of the Individual Defendants said in pertinent part: “Customer adoption of our cloud products and services continue to be very, very strong.”

Finally, on a form filed with the SEC on September 18, 2017, the Company referred to: “Higher growth of our cloud SaaS and cloud PaaS and IaaS revenues as customer preferences have pivoted to the Oracle Cloud for new deployments and as customers migrate to and expand with the Oracle Cloud for their existing on-premise workloads.” Oracle also attributed its cloud revenue growth to “increased… investments in and focus on the development, marketing and sale of our cloud-based applications, platform and infrastructure technologies.”

What Oracle failed to disclose, however, was that in reality it used “improper, coercive sales practices” to promote its cloud revenue growth.

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

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

 

9.5%

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

orcl lawsuit orcl class action oracle class action oracle 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 October 9, 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 Oracle 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:

ORCL Lawsuit ORCL Class Action Oracle Lawsuit Oracle 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.


LOGM Lawsuit, LOGM Class Action, LogMeIn Lawsuit, LogMeIn Class Action

Class Action Reports

TSLA Lawsuit Filed; Levi & Korsinsky Announces Tesla Lawsuit

Levi & Korsinsky, LLP

Isaacs v. Tesla, Inc. et al 3:18-cv-04865 — On August 10, 2018, investors sued Tesla, Inc. (“Tesla” or the “Company”) in United States District court, Northern District of California, San Francisco Division. Plaintiffs in the Tesla class action (TSLA Class Action) allege that they acquired Tesla stock at artificially inflated prices between August 7, 2018, and August 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 about the TSLA Lawsuit, please contact us today!

 

Summary of the Allegations

Company Background

Tesla (NASDAQ:TSLA) has been in business since 2003, when a group of engineers launched it in order to prove that “people didn’t need to compromise to drive electric – that electric vehicles can be better, quicker and more fun to drive than gasoline cars.”

Today, the Company produces several all-electric vehicles including the Model S and the Model X. In the last couple of years it has also introduced the Model 3 and the Tesla Semi. Along with the expansion of its product line, the Company says its production plan is “also set to increase to a rate of 500,000 vehicles a year” by this year.

In addition to making electric vehicles, the Company says it is dedicated to creating an “an entire sustainable energy ecosystem.” To this end, it also makes “a unique set of energy solutions…enabling homeowners, businesses, and utilities to manage renewable energy generation, storage, and consumption.”

Summary of Facts

Tesla and its CEO and chairman, Elon Musk, now stand accused of deceiving investors by lying and/or withholding critical information about Tesla’s business prospects during the Class Period.

Specifically, they are accused of using social media (Twitter) to make false and misleading statements about taking the Company “private” and securing the required funds. By knowingly or recklessly doing so, they allegedly caused Tesla stock to trade at artificially inflated prices.

The truth came out in an article published by Bloomberg after the market closed on August 8, 2018. In it, Bloomberg disclosed that, “securities regulators have inquired with Tesla about Defendant Musk’s Tweets.” According to the report, the Securities and Exchange Commission (SEC) specifically asked “whether Defendant Musk’s unusual announcement on Tuesday was ‘factual,’” and “why the disclosure was made on Twitter rather than a regulatory filing.”

Another article published by Bloomberg two days later also questioned whether the funding needed to take the Company private could be secured, much less actually secured, as Musk claimed.

A closer look…

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

For example, in a Tweet posted at approximately 12:48 p.m. Eastern Standard Time on August 7, Musk said in pertinent part: “Am considering taking Tesla private at $420. Funding secured.”

Then, in another Tweet posted less than an hour later, Musk said in relevant part: “I don’t have a controlling vote now & wouldn’t expect any shareholder to have one if we go private. I won’t be selling in either scenario.”

In yet another Tweet posted at 3:36 p.m., Musk stated: “Investor support is confirmed. Only reason why this is not certain is that it’s contingent on a shareholder vote.”

The next day, “several Company directors” issued a statement which said in relevant part: “Last week, Elon opened a discussion with the board about taking the company private, this included discussion as to how being private could better serve Tesla’s long-term interests, and also addressed the funding for this to occur.”

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

Closing stock price prior to disclosures:

 

$370.34
Closing stock price the trading day after disclosures:

 

$17.89
One day stock price decrease (percentage) as a result of disclosures:

 

4.83%

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

Tesla Class Action Lawsuit TSLA 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 October 9, 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 Tesla 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:

impinj class Action impinj lawsuit pi lawsuit pi 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.


LOGM Lawsuit, LOGM Class Action, LogMeIn Lawsuit, LogMeIn Class Action

Class Action Reports

Levi & Korsinsky Announces Impinj Lawsuit – Impinj Class Action Filed

Levi & Korsinsky, LLP

September 4, 2018

Schultz v. Impinj, Inc., et al 2:18-cv-06765 — On August 7, 2018, investors sued Impinj, Inc. (Impinj, PI, or the Company) in United States District Court, Central District of California. The Impinj class action alleges that plaintiffs acquired Impinj stock at artificially inflated prices between May 7, 2018 and August 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 Impinj Lawsuit, please contact us today.

 

Summary of the Allegations

Company Background

The Company (NASDAQ:PI) bills itself as “a leading provider of RAIN RFID solutions.”

As such, it says it helps businesses around the world “increase sales, improve efficiencies, and deliver compelling experiences.” Specifically, it says its platform “delivers an item’s identity, location, and authenticity—what we call Item Intelligence—to business and consumer applications.” In all, Impinj claims it has “connected” more than 25 billion items through this technology.

Based in Seattle, the IMPINJ says that it has partners in 60 countries. Its customers include Coca-Cola, Cisco and Johnson Controls.

Summary of Facts

Impinj 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 during the Class Period.

Specifically, they are accused of omitting truthful information about certain conduct resulting in a complaint and investigation; and the efficacy of its internal and financial controls from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Impinj stock to trade at artificially inflated prices during the time in question.

The truth came out on August 2, 2018. That’s when the Company announced that it was “delaying the release of its second quarter 2018 results” due to an independent, ongoing investigation conducted by its Audit Committee based on a complaint made by a former employee.

A closer look…

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

For example, in a press release issued May 7, 2018, one of the Individual Defendants said in pertinent part: “Based on team execution, enhanced partner inventory visibility and positive booking trends, we believe we are on track to make the first half of 2018 the turning point for our business.”

The next day, the Company filed a form with the SEC that had been signed by one of the Individual Defendants and “reaffirmed the financial results” Impinj announced in the press release.

The same form included signed certifications pursuant to federal law in which the Individual Defendants affirmed the truthfulness and accuracy of the information included therein. By signing the certifications, they also attested to the efficacy and status of the Company’s internal controls over financial reporting.

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

Closing stock price prior to disclosures:

 

$21.99
Closing stock price the trading day after disclosures:

 

$18.97
One day stock price decrease (percentage) as a result of disclosures:

 

13.73%

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

 impinj class Action impinj lawsuit pi lawsuit pi 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 October 9, 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 Impinj 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:

impinj class Action impinj lawsuit pi lawsuit pi 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.


Zion Lawsuit, ZN Lawsuit, ZN Class Action, Zion Class Action Levi & Korsinsky

Class Action Reports

Levi & Korsinsky Announces ZN Lawsuit – Zion Class Action Filed

Levi & Korsinsky, LLP

Peak v. Zion Oil & Gas Inc. et al 3:18-cv-2067 — On August 9, 2018, investors sued Zion Oil & Gas, Inc. (Zion, ZN, or the Company) in United States District Court, Northern District of Texas, Dallas Division. Plaintiffs in the ZN class action allege that they acquired Zion stock at artificially inflated prices between March 12, 2018 and July 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 on the ZN Lawsuit, please contact us today!

 

Summary of the Allegations

Company Background

According to its website, Zion (NASDAQ:ZN) is a Delaware corporation founded in 2000 that explores for oil and gas onshore in Israel.  As such, it “currently holds approximately 99,000 acres of land in Israel, all on the Megiddo-Jezreel License.”

Although it has been in business for less than 20 years, Zion’s backstory dates to 1983, when its founder and chairman became “inspired and dedicated to finding gas and oil in Israel” during a visit. His interest in doing so prompted him to initiate the process that resulted in the creation of the so-called “Joseph Project.” and he started the process that led to the Joseph Project. “

“During the next 17 years he made numerous trips to Israel, hired oil and gas consultants in Israel and Texas, met with Israeli government officials, made direct investments with local exploration companies, and assisted Israeli exploration companies in raising money for oil and gas exploration in Israel,” Zion’s website states.

Although the Company’s mission is “biblically inspired,” Zion says, “The actions taken by the Zion management as it actively explores for oil and gas in Israel, are based on modern science and good business practice.”

Summary of Facts

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

Specifically, they are accused of making false or misleading statements and/or failing to disclose information about Zion’s status as the potential or actual subject of an SEC investigation. By knowingly or recklessly doing so, they allegedly caused Zion stock to trade at artificially inflated prices during the time in question.

The truth came out on July 11, 2018, when the Company filed a current report with the SEC. In it, Zion disclosed that on June l21, 2018, it had received “a subpoena to produce documents from the Fort Worth office of the Securities and Exchange Commission [“SEC”] informing Zion of the existence of a non-public, fact-finding inquiry into the Company.” Zion also said that its “response to the subpoena will necessarily entail significant costs and management’s attention.”

A closer look…

As alleged in the August 9 complaint, Zion and/or the Individual Defendants repeatedly denied during the Class Period that the Company was a potential or actual subject of an SEC investigation.

For example, in response to a March 26, 2018 Twitter post inferring that the Company was the subject of an SEC investigation, the Company stated the following in a Tweet the next day: “There is no investigation. Merely indicators of a routine FINRA questionnaire that’s standard after a steep rise of our stock recently.”

Then, following a report that the SEC was investigating the Company, Zion issued the following statement on Twitter on May 30, 2018: “There is no SEC investigation into Zion Oil & Gas, Inc.” In the same Tweet, Zion advised investors to “just ignore such distortions.”

Finally, in a second Tweet that day, the Company told investors to “Arm yourself with good information and how to spot false rumors,” and included a link to an article on Investopedia called “Short and Distort: Bear Market Stock Manipulation.”

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

Closing stock price prior to disclosures:

 

$4.00
Closing stock price the trading day after disclosures:

 

$3.56
One day stock price decrease (percentage) as a result of disclosures:

 

11%

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

 ZN Lawsuit ZN Class Action Zion Lawsuit Zion 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 October 9, 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 Zion 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:
Zn Class Action ZN Lawsuit Zion Class Action Zion 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.


Zion Lawsuit, ZN Lawsuit, ZN Class Action, Zion Class Action Levi & Korsinsky

Class Action Reports

SBGI Lawsuit: Levi & Korsinsky Announces SBGI Class Action

Levi & Korsinsky, LLP

August 20, 2018

Komito v. Sinclair Broadcast Group, Inc. et al 1:18-cv-02445-CCB — On August 9, 2018, investors sued Sinclair Broadcast Group, Inc. (“Sinclair” or the “Company”) in United States District Court For The District of Maryland. Plaintiffs in the SBGI class action allege that they acquired Sinclair stock at artificially inflated prices between February 22, 2017 and July 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 about the SBGI lawsuit, please contact us today.

 

Summary of the Allegations

Company Background

According to its website, Sinclair (NASDAQ: SBGI) is  “one of the largest and most diversified television broadcasting companies” in the United States.

As such it owns “a multicast network, four radio stations and a cable network.”  In all it has 192 TV stations and 611 channels in 89 U.S. markets.

Sinclair’s history dates to 1986, when family patriarch Julian Sinclair Smith and his four sons (David, Fred, Duncan and Rob) consolidated the operations of what were then three independent UHF television stations in Baltimore, Pittsburgh and Columbus under Sinclair, and appointed their long-term partner, Robert “Bob” Simmons as the Company’s first President and CEO.

In the following decade, the Company experienced tremendous growth, expanding from three television stations to 59, thereby establishing itself as the largest broadcaster in the country.

Summary of Facts

Sinclair and two of its senior 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 stand accused of omitting truthful information about certain transactions, its compliance with relevant FCC rules and regulations, and related matters from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Sinclair stock to trade at artificially inflated prices during the time in question.

The truth emerged on July 16, 2018, when “news reports disclosed that FCC Chairman Ajt Pai was circulating a draft Hearing Designation Order (‘HDO”) sending the Sinclair/Tribune deal to a hearing before the FCC’s administrative law judge, a process widely considered to be a death sentence for merger approvals.”

According to the August 9 complaint, the “draft HDO, seen by Reuters on July 16, 2018, stated that Chairman Pai had ‘serious concerns’ about the proposed merger, finding that ‘Sinclair’s actions here potentially involve deception.’”

With a unanimous vote after the market closed on July 18, 2018, the FCC sent the proposed merger to a hearing in spite of the Company’s attempt to convince it not to do so.

A closer look…

As alleged in the August 9 complaint, the Company and/or Individual Defendants repeatedly made false and misleading public statements during the Class Period.

For instance, when responding to a question about the potential for any “transformative” merger deals during an earnings call with investors on February 22, 2017, one of the Individual Defendants said in pertinent part: “So we have to wait and see what will happen, but we think it will actually happen fairly quickly here and we’ll start to see some movement this year. And if that happens, I do expect transformative deals to come on the heels of that.”

In a May 8, 2017 press release announcing the Company’s merger with Tribune, the Company said in pertinent part: “In order to comply with FCC ownership requirements and antitrust regulations, Sinclair may sell certain stations in market where it currently owns stations. Such divestitures will be determined through the regulatory process.”

Then on a Registration Statement in connection with the merger that was filed with the SEC on July 3, 2017, Sinclair said in relevant part: “Sinclair also agreed, subject to the terms of the agreement, to use reasonable best efforts to take all actions to avoid or eliminate any impediment that may be asserted by a governmental authority with respect to the transactions…”

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

Closing stock price prior to disclosures:

 

$27.40
Closing stock price the trading day after disclosures:

 

$26.30
One day stock price decrease (percentage) as a result of disclosures:

 

4.01%

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 October 9, 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 Sinclair 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:

SBGI Class Action SBGI 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.


Class Action Reports

Levi & Korsinsky Announces the HMNY Class Action Lawsuit

Levi & Korsinsky, LLP

Chang v. Helios Matheson Analytics, Inc., et al 1:18-cv-06965 — On August 2, 2018, investors sued Helios Matheson Analytics, Inc. (Helios, HMNY, or the Company) in United States District Court, Southern District of New York. The HMNY Lawsuit alleges that plaintiffs acquired Helios stock at artificially inflated prices between August 15, 2017 and July 26, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. For more information on the HMNY Class Action, please contact us today!

Summary of the Allegations

Company Background

According to its website,  Helios (NASDAQ:HMNY)  is “a Big Data company that helps global enterprises make informed decisions by providing insights into social phenomena.”

As such, it provides “information technology, services and solutions” including numerous “technology platforms” to its clients in the financial sector, healthcare, retail, education sector and government sector.

The Company is incorporated in Delaware and its main office is located in New York City. According to the August 2 complaint, the Company had more than 82.6 million shares of common stock outstanding as of May 11, 2018.

Summary of Facts

Helios 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 during the Class Period.

Specifically, they are accused of omitting truthful information about various issues related to its acquisition of a “major stake” in MoviePass, Inc. (“MoviePass”) from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Helios stock to trade at artificially inflated prices during the time in question.

The truth came out on July 27, 2018, when the Company filed a form with the SEC announcing that it had “Issued a demand note in the principal amount of $6.2 million because it was unable to make required payments to its merchants and fulfillment processors leading to a service interruption.”

A closer look…

As alleged in the August 2 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 when the Class Period began, the Company said in pertinent part: “The MoviePass app enables subscribers to see unlimited movies in theaters with no blackout dates; no contracts; just a low flat $9.95 monthly fee.”

In another press release issued September 15, 2017, Helios also said in pertinent part: “Helios and Matheson Analytics believes its technology stock combined with the MoviePass business model will transform the movie going experience and create great value for both companies.”

Then, on October 24, 2017, Helios issued yet another press release in which it stated in pertinent part: “The continued growth trajectory exceeded MoviePass’ initial projections, and now MoviePass projects that it will acquire at least 3.1 million additional paying subscribers through August 18, 2018, exceeding its previous estimate of 2.5 million subscribers.”

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

Closing stock price prior to disclosures:

 

$6.83
Closing stock price the trading day after disclosures:

 

$2.00
One day stock price decrease (percentage) as a result of disclosures:

 

70.72%

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 October 1, 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 Helios 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:

HMNY Lawsuit HMNY 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.


Class Action Reports

GDS Lawsuit: Levi & Korsinsky Announces GDS Holdings Class Action

Levi & Korsinsky, LLP

Allison v. GDS Holdings Limited, et al 1:18-cv-06960 — On August 2, 2018, investors sued GDS Holdings Limited (GDS or the Company) In United States District Court, Southern District of New York. Plaintiffs in the federal securities class action allege that they acquired GDS American Depositary Shares (ADS) at artificially inflated prices between November 2, 2016 and July 31, 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 GDS Lawsuit, please click here.

Summary of the Allegations

Company Background

According to its website the Company (NASDAQ: GDS) is a “a leading developer and operator of high performance data centers in China.” As such, it says it has roughly 500 customers including “large Internet companies, financial institutions, telecommunications and IT service providers, and large domestic private sector and multinational corporations.”

GDS also says its facilities are “strategically located in China’s primary economic hubs where demand for high performance data center services is concentrated,” and that its data centers feature “large net floor area, high power capacity, density and efficiency, and multiple redundancy across all critical systems.”

As of last November, the Company says, it had “an aggregate net floor area over 101,000 sqm in service and an aggregate net floor area over 24,000 sqm under construction.”

Summary of Facts

GDS 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 during the Class Period.

Specifically, they are accused of omitting truthful information about its utilization and occupancy rates; its use of suspect capital and debt raisings; certain acquisitions; and certain accounting practices from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused the Company’s ADS to trade at artificially inflated prices during the time in question.

The truth emerged in a report published by Blue Orca on July 31, 2018. In it, Blue Orca revealed that GDS had allegedly engaged in fraud by overstating certain metrics for one of its “flagship data centers;’ by “inflating the purchase price of undisclosed related party acquisitions;” through questionable use of equity and debt raising; and through use of questionable accounting practices.

A closer look…

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

For example, in a Prospectus filed with the SEC on November 2, 2016, the Company said in pertinent part: “Due to the lengthy time period required to build data centers and the long-term nature of these investments, if we overestimate market demand for data center resources, our utilization rates, which is the ratio of area utilized to area in service would be reduced, which would adversely affect our results of operations. Our revenue growth data depends on our ability to secure commitment s for our data center services.”

Then, in its 2016 Annual Report, filed with the SEC on April 19, 2017, GDS stated in pertinent part: “Our substantial level of indebtedness could adversely affect our ability to raise additional capital to fund our operations, expose us to interest rate risk to the extent of our variable rate debt and prevent us from meeting our obligations under our indebtedness.”

Finally, in its 2017 Annual Report, which was filed with the SEC on March 29, 2018, GDS said in relevant part: “We recently received the Registration Certificate of the Filing of Foreign Debt Borrowed by Enterprises, or the Foreign Debt Registration Certificate, issued by the National Development and Reform Commission, or the NDRC, permitting us to issue foreign currency denominated bonds of up to US$300 million…”

On the same report, the Company claimed that its Guangshou 1 data center [“GZI”] had a 90% utilization rate and a 100% commitment rate.”

Impact of the Alleged Fraud on GDS ADS Price and Market Capitalization

Closing ADS price prior to disclosures:

 

$35.25
Closing ADS price the trading day after disclosures:

 

$21.83
One ADS price decrease (percentage) as a result of disclosures:

 

38.07%

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 October 1, 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 GDS 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:

GDS Lawsuit GDS Holdings Class Action levi & Korsinsky

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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.


SodaStream merger, SODA

Merger News

Levi & Korsinsky Investigating the SodaStream Merger, SODA merger

Levi & Korsinsky

NEW YORK, August 20, 2018 – Levi & Korsinsky is investigating the sale of SodaStream International Ltd. (“SodaStream” or the “Company”) (NASDAQGS: SODA) to PepsiCo, Inc. (NASDAQGS: PEP) for $144.00 per share. To learn more about the SODA merger and your rights, go tohttp://www.zlk.com/mna/sodastream-international-ltd or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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

 


zoes merger investigation

Merger News

Levi & Korsinsky Investigating Zoe’s Kitchen, Inc. Merger, ZOES Acquisition

Levi & Korsinsky

August 17, 2018

NEW YORK, August 17, 2018 – Levi & Korsinsky is investigating the Zoe’s Kitchen, Inc. merger (NYSE: ZOES). Under the terms of the transaction, Zoe’s Kitchen will be sold to Cava Group, Inc. for $12.75 in cash. To learn more about the Zoe’s Kitchen investigation and your rights, go tohttp://www.zlk.com/mna/zoes-kitchen-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 Zoe’s merger investigation concerns whether the Board of Zoe’s Kitchen breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Cava Group, Inc. is underpaying for Zoe’s Kitchen shares, thus unlawfully harming Zoe’s Kitchen 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.


kmg merger investigation

Merger News

Levi & Korsinsky Investigating KMG Chemicals, Inc. (KMG) Merger

Levi & Korsinsky

August 16, 2018

NEW YORK, August 16, 2018 – Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of KMG Chemicals, Inc. (NYSE: KMG) to Cabot Microelectronics Corporation (NASDAQGS: CCMP). Under the terms of the KMG merger, KMG shareholders will receive $55.65 in cash and 0.2000 of a share of Cabot Microelectronics common stock for each KMG share they own. This represents a value of approximately $79.50 per share. To learn more about the KMG merger investigation and your rights, go tohttp://www.zlk.com/mna/kmg-chemicals-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 KMG merger investigation concerns whether the Board of KMG breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Cabot Microelectronics Corporation is underpaying for KMG shares, thus unlawfully harming KMG 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.


energen merger investigation

Merger News

Levi & Korsinsky Investigating Energen (EGN) Merger

Levi & Korsinsky

Levi & Korsinsky, LLP has commenced an investigation into the the sale of Energen Corporation (NYSE: EGN) to Diamondback Energy, Inc. (NASDAQ: FANG). Under the terms of the Energen merger, Energen shareholders will receive 0.6442 shares of Diamondback common stock for each share of Energen common stock they own. This represents a value of approximately $84.95 per share. To learn more about the EGN merger investigation and your rights, go tohttp://www.zlk.com/mna/energen-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 Energen merger investigation concerns whether the Board of Energen breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Diamondback Energy is underpaying for Energen shares, thus unlawfully harming Energen 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.


intrexon investigation, xon investigation

Class Action News

Levi & Korsinsky Announces an Investigation of Intrexon Corporation (XON)

Levi & Korsinsky

August 15, 2018

Levi & Korsinsky is investigating Intrexon Corporation (“Intrexon” or “the Company”) (NYSE: XON) concerning possible violations of federal securities laws. On August 9, 2018, Intrexon filed an 8-K announcing that it would restate the unaudited interim consolidated financial statements included in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2018. The restatement is the result of incorrect application of certain aspects of  Accounting Standards Codification Topic 606, Revenue from Contracts with Customers. According to the Company, “these errors have resulted in an overstatement of deferred revenue and accumulated deficit by approximately $67 million as of the adoption date…” Then on August 13, 2018, Intrexon filed an amended and restated 10-Q for the quarter ended March 31, 2018. To obtain additional information about the Intrexon investigation, go tohttp://www.zlk.com/pslra-d/intrexon-corporation-2 or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

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


hologic investigation, HOLX investigation

Class Action News

Levi & Korsinsky Announces Hologic Investigation

Levi & Korsinsky

August 14, 2018

Levi & Korsinsky announces an investigation of Hologic, Inc. (“Hologic” or “the Company”) (NASDAQGS: HOLX) concerning possible violations of federal securities laws. Hologic is the parent company of Cynosure, Inc. On July 30, 2018, the U.S. Food and Drug Administration issued a statement warning against the use of “energy-based devices” to perform vaginal “rejuvenation” and/or cosmetic vaginal procedures and stated it was aware of certain manufacturers inappropriately marketing energy-based devices. The FDA further disclosed it had sent a letter to Cynosure notifying the Company that marketing for its MonaLisa Touch may violate the Federal Food, Drug, and Cosmetic Act. Then on August 13, 2018, Hologic filed an 8-K stating that “Although the FDA did not mention Vitalia in its recent comments or the [MonaLisa Touch] MLT Letter, Cynosure has carefully considered the FDA’s broader concerns and elected to suspend marketing and distribution of Vitalia handpieces and single-use probes until it has confirmed they meet all regulatory requirements for devices in this category. Cynosure is also asking customers to return any Vitalia handpieces and unused probes they have purchased.” Following this news, shares of Hologic fell from a close of $40.66 per share on August 10, 2018, to a close of $39.02 on August 13, 2018.

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

 

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

 


zn lawsuit, Zion Oil & Gas

Class Action News

Levi & Korsinsky Announces Zion Oil Class Action, ZN Lawsuit

Levi & Korsinsky

August 10, 2018

NEW YORK, August 10, 2018 – Levi & Korsinsky announces a class action on behalf of persons or entities who purchased or otherwise acquired securities of Zion Oil & Gas, Inc. (“Zion”) (NASDAQ: ZION) between March 12, 2018 and July 10, 2018. You are hereby notified that the ZN class action has been commenced in the United States District Court for the Northern District of Texas. To get more information about the Zion Oil lawsuit go to: http://www.zlk.com/pslra-d/zion-oil-gas-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 Zion Oil class action alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Zion was either already or was likely to soon become the subject of an U.S. Securities and Exchange Commission investigation; and (2) as a result, Zion’s public statements were materially false and misleading at all relevant times. On March 27, 2018, Zion issued a statement on Twitter, denying an allegation on the social media platform that there was an SEC investigation of the Company underway. On May 30, 2018, the Company tweeted “There is no SEC investigation into Zion Oil & Gas, Inc.” Then on July 11, 2018, Zion announced it had received a subpoena from the SEC to produce documents as part of a fact-finding inquiry. Following this news, shares of Zion fell 11% to close at $3.56 per share on July 12, 2018.

If you suffered a loss in Zion 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.


nlsn lawsuit, nielsen

Class Action News

Levi & Korsinsky Announces NLSN Lawsuit, Nielsen Class Action Commenced

Levi & Korsinsky

NEW YORK, August 10, 2018 – Levi & Korsinsky, LLP announces a class action on behalf of shareholders of Nielsen Holdings plc (“Nielsen”) (NYSE: NLSN) who purchased shares between February 8, 2018 and July 25, 2018. You are hereby notified that the NLSN class action has been commenced in the United States District Court for the Southern District of New York. To get more information about the Nielsen class action 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 complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) Nielsen disregarded its readiness for and the true risks of privacy related regulations and policies including the European General Data Protection Regulation (“GDPR”) on its current and future financial and growth prospects; (2) Nielsen’s financial performance was far more dependent on Facebook and other third-party large data set providers than previously disclosed and privacy policy changes affected the scope and terms of access Nielsen would have to third-party data; and (3) access to Facebook and other third-party provider data was becoming increasingly restricted for Nielsen and Nielsen clients.

If you suffered a loss in Nielsen 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.


Merger News

Levi & Korsinsky Investigates DNB Merger; Dun & Bradstreet Merger

Levi & Korsinsky

NEW YORK, August 10, 2018 – Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Dun & Bradstreet (NYSE: DNB) to a consortium led by CC Capital, Thomas H. Lee Partners, and Cannae Holdings, Inc. (NYSE: CNNE) for $145 per share. To learn more about the DNB merger investigation and your rights, go tohttp://www.zlk.com/mna/dun-bradstreet 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 Dun & Bradstreet merger investigation concerns whether the Board of Dun & Bradstreet breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether the consortium is underpaying for Dun & Bradstreet shares, thus unlawfully harming Dun & Bradstreet shareholders.

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


Merger News

Levi & Korsinsky Investigates OVAS Merger; OvaScience Merger

Levi & Korsinsky

NEW YORK, August 10, 2018 – Levi & Korsinsky announces an investigation concerning the sale of OvaScience, Inc. (“OvaScience” or the “Company”) (NASDAQGS: OVAS). Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of OvaScience to Millendo Therapeutics, Inc. Under the terms of the transaction, OvaScience shareholders will receive shares in the combined entity for each share of OvaScience they own, and will own approximately 20% of the combined company. Per a press release issued on August 9, 2018, shares will be allocated “subject to adjustment based on OvaScience’s net cash balance at the time of closing and the amount of any additional financing consummated by Millendo at or before the closing of the merger.” To learn more about the OVAS merger and your rights, go tohttp://www.zlk.com/mna/ovascience-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 OvaScience merger investigation concerns whether the Board of OvaScience breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Millendo Therapeutics, Inc. is underpaying for OvaScience shares, thus unlawfully harming OvaScience 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.


AMPE investigation, Ampio

Class Action News

AMPE Investigation Commences – Levi & Korsinsky Investigating Ampio Pharmaceuticals

Levi & Korsinsky

NEW YORK, August 10, 2018 – Levi & Korsinsky is investigating Ampio Pharmaceuticals, Inc. (“Ampio” or “the Company”) (NYSE American: AMPE) concerning possible violations of federal securities laws. On August 7, 2018, Ampio filed a Form 8-K with the U.S. Securities and Exchange Commission providing an update on the U.S. Food and Drug Administration’s review of the AP-003-A and AP-003-C trials. Ampio disclosed that it had met with the FDA in July and received a response letter, notifying the Company that the AP-003-A study alone “does not appear to provide sufficient evidence of effectiveness to support” its Biologics License Application. Following this news, shares of Ampio were down  more than 78% on intraday trading on August 8, 2018. To obtain additional information about the AMPE investigation, go to:http://www.zlk.com/pslra-d/ampio-pharmaceuticals-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

 


atus class action, Altice

Class Action News

Levi & Korsinsky Announces ATUS Class Action

Levi & Korsinsky

NEW YORK, August 10, 2018 –  Levi & Korsinsky, LLP announces a securities action on behalf of all persons or entities who purchased or otherwise acquired Altice USA, Inc. (“Altice”) (NYSE: ATUS) pursuant or traceable to the Company’s Initial Public Offering on or around June  22, 2017. The ATUS class action alleges that the Registration Statement filed for the Company’s Initial Public Offering contained materially false and misleading information and/or failed to disclose material information. In particular, the complaint alleges that the Company’s offering materials repeatedly touted the “competitive strengths” of Altice’s relationship with Altice N.V. when, in fact, Altice N.V. was suffering severe customer attrition in its France and Portugal markets as a result of mismanaged price increases and low-quality customer support.


Levi & Korsinsky Investigates Beneficial Bancorp Merger; BNCL Merger with WSFS

Class Action News

Levi & Korsinsky, LLP Investigates BNCL Merger; Beneficial Bancorp Merger

Levi & Korsinsky, LLP

August 9, 2018

ATTN: All Persons or Entities who purchased Beneficial Bancorp, Inc. (“Beneficial Bancorp” or the “Company”) (NASDAQGM: BNCL) stock prior to August 8, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Beneficial Bancorp Merger with WSFS Financial Corporation (“WSFS”) (NASDAQGS: WSFS). Under the terms of the transaction, Beneficial Bancorp shareholders will receive 0.3013 shares of WSFS common stock and $2.93 in cash for each Beneficial Bancorp share they own. Based on the closing price of WSFS stock on August 7, 2018, the transaction has an approximate value of $19.61 per share. To learn more about the BNCL Merger, and your rights, go tohttp://www.zlk.com/mna/beneficial-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 Beneficial Bancorp merger investigation concerns whether the Board of Beneficial Bancorp breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether WSFS is underpaying for Beneficial Bancorp shares, thus unlawfully harming Beneficial 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.


Levi & Korsinsky Investigates Beneficial Bancorp Merger; BNCL Merger with WSFS

Class Action News

PPDAI Investigation Commences – Levi & Korsinsky Begins PPDF Investigation

Levi & Korsinsky, LLP

NEW YORK, August 8, 2018 – Levi & Korsinsky announces it has started an investigation of PPDAI Group Inc. (“PPDAI” or “the Company”) (NYSE: PPDF) concerning possible violations of federal securities laws. This investigation concerns whether PPDAI’s filings with the U.S. Securities and Exchange Commission in connection with its Initial Public Offering contained untrue statements or omitted material information regarding PPDAI’s business practices, interest rates on loans made through the Company’s platform, or the quality of loans made through the Company’s platform. To obtain additional information, go tohttp://www.zlk.com/pslra-d/ppdai-group or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

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


Levi & Korsinsky Investigates Beneficial Bancorp Merger; BNCL Merger with WSFS

Class Action News

Levi & Korsinsky, LLP Announces Investigation of Maxar; MAXR Investigation

Levi & Korsinsky, LLP

NEW YORK, August 8, 2018 – Levi & Korsinsky has announced an investigation of Maxar Technologies Ltd. (NYSE: MAXR) concerning possible violations of federal securities laws. On August 7, 2018, Spruce Point Capital Management published a report alleging that Maxar is engaging in a “brazen intangible asset inflation scheme to overstate EBITDA and EPS…” The report further asserted that the Company “amended its post-retirement benefit plan to book one-time gains” in a manner that “was not fully disclosed across its investor communications.” Following this news, shares of Maxar fell from a close of $44.41 per share on August 6, 2018, to a close of $36.69 on August 8, 2018. To obtain additional information on the MAXR Investigation, go to: http://www.zlk.com/pslra-d/maxar-technologiesor contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

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


Levi & Korsinsky Investigates Beneficial Bancorp Merger; BNCL Merger with WSFS

Class Action News

Levi & Korsinsky Announces GDS Limited Lawsuit, Class Action Filed

Levi & Korsinsky

August 6, 2018

NEW YORK, August 1, 2018 – Levi & Korsinsky announces a class action on behalf of GDS Holdings Limited (“GDS”) (NASDAQ: GDS) shareholders who purchased shares between November 2, 2016 and July 31, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York. To get more information about the GDS Holdings class action go to: http://www.zlk.com/pslra-d/gds-holdings-limited or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The GDS lawsuit complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that:  (1) the Company has overstated its utilization and occupancy rates; (2) the Company has made acquisitions with related parties at inflated prices; (3) it has used suspect capital and debt raisings despite large off-shore cash reserves; (4) it has adopted unorthodox accounts receivable and payable practices; and (5) that, as a result of the foregoing, Defendant’s statements about GDS’ business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

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


FB lawsuit Facebook class action

Class Action News

Levi & Korsinsky Announces Updated Class in FB Lawsuit

Levi & Korsinsky

NEW YORK, August 6, 2018 – Levi & Korsinsky announces an updated class period in a class action concerning Facebook, Inc. (NASDAQ: FB). The expanded class in the FB class action includes all shareholders who purchased shares between October 1, 2017 and July 26, 2018. To get more information about the FB Lawsuit go to: http://www.zlk.com/pslra-d/facebook-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 Facebook class action alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) the implementation of the General Data Protection Regulation (“GDPR”), which was adopted by the European Union on or around April 14, 2016, would have a foreseeable and materially negative impact on use of the Platform, revenue growth, and profitability because the informed consent required by the GDPR resulted in many users rejecting Facebook’s privacy policies and/or procedures and exposed a significant number of fake accounts on the platform; (ii) by May 25, 2018, Facebook’s Platform use and revenue growth had already begun to decline as a result of Facebook’s efforts to comply with the GDPR; (iii) the decline in Facebook’s Platform use and the increase in costs as a result of complying with the GDPR had a materially adverse effect on Facebook’s financial health, including its revenue and projected growth; and (iv) as a result, Facebook’s public statements were materially false and misleading at all relevant times.

If you suffered a loss in Facebook you have until September 25, 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.

 


latium latx lawsuit

Class Action News

Levi & Korsinsky Announces Latium Lawsuit, Securities Class Action

Levi & Korsinsky

August 2, 2018

NEW YORK, August 2, 2018 – Levi & Korsinsky announces a class action on behalf of investors who purchased or otherwise acquired Latium Network, Inc. (“Latium” or “the Company”) LatiumX (“LATX”) tokens pursuant to Latium’s Initial Coin Offering between July 25, 2017 and March 1, 2018. You are hereby notified that the Latium class action has commenced in the United States District Court for the District of New Jersey. To get more information about the LatiumX class action go to: http://www.zlk.com/pslra-sbm-cc/latium-network-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 LatiumX complaint alleges that Latium violated Sections 12 and 15 of the Securities Act of 1933 by engaging in interstate commerce for the purposes of offering, selling, or delivering unregistered securities.

If you purchased LATX tokens pursuant to the ICO you have until August 13, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

 


Jamba JMBA merger investigation

Merger News

Jamba Merger Investigation Commences

Levi & Korsinsky

NEW YORK, August 2, 2018 –  To: All Persons or Entities who purchased Jamba, Inc. (“Jamba” or the “Company”) (NASDAQGM: JMBA) stock prior to August 2, 2018. Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Jamba to Focus Brands Inc. for $13.00 per share. To learn more about the Jamba merger and your rights, go tohttp://www.zlk.com/mna/jamba-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 Jamba merger investigation concerns whether the Board of Jamba breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Focus Brands Inc. is underpaying for Jamba shares, thus unlawfully harming Jamba shareholders. Investors owning approximately 27% of Jamba’s outstanding shares have agreed to tender their shares in favor of the transaction.


HMNY class action HMNY lawsuit

Class Action News

Levi & Korsinsky Files HMNY Lawsuit; MoviePass Owner Sued

Levi & Korsinsky

NEW YORK, August 2, 2018 – Levi & Korsinsky announces it filed a class action complaint on behalf of investors who purchased or otherwise acquired common stock of Helios and Matheson Analytics Inc. (NASDAQCM: HMNY) between August 15, 2017, and July 26, 2018. The HMNY class action Chang v. Helios and Matheson Analytics Inc. (Case No. 1:18-cv-06965) was filed in the USDC for the Southern District of New York. For more information about the HMNY lawsuit: http://www.zlk.com/pslra-d/helios-and-matheson-analytics-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you. 

The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that (i) Helios was touting MoviePass’ valuation and path to profitability; (ii) MoviePass’ business model was not sustainable, (iii) consequently, Helios would run out of cash, (iv) Defendants’ actions were only reducing shareholder value, and (v) as a result of the foregoing, Defendants’ statements about Helios’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

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


VUZI Lawsuit Vuzix Class Action Levi & Korsinsky

Class Action Reports

VUZI Lawsuit; Vuzix Class Action Litigation Report/Update

Levi & Korsinsky, LLP

McDonel v. Vuzix Corporation et al 1:18-cv-06656 – On July 24, 2018, investors sued Vuzix Corporation (Vuzix, VUZI, or the Company) in United States District Court, Southern District of New York. Plaintiffs in the Vuzix class action allege that they either acquired Vuzix stock at artificially inflated prices between November 9, 2017 and March 20, 2018 (“the Class Period”) or in connection with the Company’s secondary public offering (“SPO”) in January 2018. They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during the time in question. For more information on the VUZI Lawsuit, please inquire within.

 

Summary of the Allegations

Company Background

The Company (NASDAQ: VUZI) has been in business since 1997 and bills itself as “a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets.”

As such, it makes “personal display and wearable computing devices that offer users a portable high quality viewing experience, provide solutions for mobility, wearable displays and virtual and augmented reality.” It also designs, markets and sells these products.

On its website, Vuzix claims it holds more than 60 patents and has more than 40 that are pending.

Summary of Facts

The Company and two of its two of its senior officers and/or directors (the “Individual Defendants”) are accused of deceiving investors by lying and withholding critical information about certain business practices during the Class Period.

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

The truth emerged in a series of posts published by MOX Reports in March 2018. In them, MOX Reports accused the Company of wrongfully using “certain stock promotion tactics to boost the Vuzix share price, and then offered shares at $10 per share.” It said in pertinent part: “Vuzix recently used an undisclosed stock promotion involving dozens of mainstream media outlets to artificially inflate the share price and volume, and then raise $30 million.”

A closer look…

As alleged in the July 24 complaint, Vuzix repeatedly made false and misleading public statements during the Class Period.

For example, in a press release issued on November 9, 2017, Vuzix discussed its financial results for the third quarter of 2017. It stated in relevant part: “Recognized $266,687 of engineering services revenues during the third quarter on our enterprise smart glasses development project with Toshiba. The remaining development work associated with Toshiba is expected to be completed in the fourth quarter, which will result in approximately $221,000 of revenue in the fourth quarter and the delivery of PVT devices. Vuzix expects to move this new product into volume production for Toshiba in early 2018.”

On the same day, the Company filed a form with the SEC in which it reiterated the same points it made in the press release.

Finally, on a form filed with the SEC on March 6, 2018, the Company said in relevant part: “The Vuzix Blade received 4 innovation awards at CES and was named ‘Best of CES’ by several notable media firms including TIME, Rolling Stone, CNET, Fox News, Tom’s Guide and TechRadar.”

According to the MOX reports, however: “The information contained in the articles and product reviews was flat out wrong, but was then repeatedly rebroadcast by Vuzix (esp. Margolis) in order to inflate the stock. Margolis made heavy use of social media, adding the $VUZI ticker next to the sponsored articles.”

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

Closing stock price prior to disclosures:

 

$7.65
Closing stock price following disclosures:

 

$5.95
Three-day stock price decrease (percentage) as a result of disclosures:

 

22.22%

 

Actions You May Take

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

NOTE: The deadline to file for lead plaintiff in this class action is September 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.

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 Vuzix 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:

VUZI Lawsuit Vuzix Class Action Levi & Korsinsky

About Us

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

Attorney Advertising

 

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

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

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


VUZI Lawsuit Vuzix Class Action Levi & Korsinsky

Class Action Reports

RMTI Lawsuit Filed; Rockwell Medical Class Action Litigation Report

Levi & Korsinsky, LLP

Too v. Rockwell Medical Inc., et al 1:18-cv-04253 – On July 27, 2018, investors sued Rockwell Medical Inc. (Rockwell, RMTI, or the Company) in United States District Court, Eastern District of New York. The Rockwell Medical class action alleges that plaintiffs acquired Rockwell stock at artificially inflated prices between March 16, 2018 and June 26, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. For more information about the RMTI Lawsuit, please read the following report. We encourage reaching out to us with any questions or concerns as well.

 

Summary of the Allegations

Company Background

As an “integrated biopharmaceutical company,” Rockwell (NASDAQ: RMTI) focuses finding solutions for patients suffering from end-stage renal and chronic kidney diseases both in the United States and also globally.

Founded in 1995, the Company has been trading on the NASDAQ since 1998. By 2001, Rockwell had two manufacturing facilities in Michigan and Texas. It expanded its operations further by opening another production facility in South Carolina in 2005. The Company also reached $25 million in revenue that year, and surpassed $50 million revenue three years later.

Summary of Facts

Rockwell and two of its current and former officers and/or directors 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 status of its proposal for separate reimbursement for one of its products, efficacy of its internal controls over financial reporting, and its CEO’s conduct from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Rockwell stock to trade at artificially inflated prices during the time in question.

The truth came out in a series of events that transpired between May 10, 2018 and June 27, 2018, when the Company filed a form with the SEC announcing the resignation of its auditors, effective immediately.

The June 27 announcement also included material related to the Company’s pursuit of separate reimbursement for Triferic from the CMS. Specifically, the material revealed that CMS did not plan to approve separate reimbursement for the medication, which was contrary to what the Company led its auditors to believe.

A closer look…

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

For example, on a form filed with the SEC on March 15, 2018, the Company said in pertinent part: “While we cannot predict the outcome or timing of the CMS review, we anticipate that Triferic will receive separate reimbursement as a result of our extensive efforts in working with policy makers, Congress and stakeholders within the dialysis industry.”

On the same form, the Company also said, “We believe Triferic is a new innovative therapy, and we are seeking separate reimbursement for Triferic.”

Then, on another form filed with the SEC on May 10, 2018, the Company said in relevant part: “”We have submitted information to CMS that highlights the improved clinical benefits that Triferic provides to patients, as well as the significant cost savings Triferic delivers to both Medicare and dialysis providers. We cannot predict the outcome or timing of CMS’s process and there can be no assurance of it, or when we might receive separate reimbursement for Triferic from CMS.”

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

Closing stock price prior to disclosures:

 

$5.26
Closing stock price two trading days after disclosures:

 

$4.41
Two day stock price decrease (percentage) as a result of disclosures:

 

16.16%

 

Actions You May Take

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

NOTE: The deadline to file for lead plaintiff in this class action is September 25, 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 Rockwell 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:

RMTI Class Action RMTI Lawsuit Rockwell Medical Lawsuit

About Us

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

Attorney Advertising

 

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

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

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


DRII Lawsuit DRII Class Action Levi & Korsinsky Diamond Resorts

Class Action Reports

DRII Lawsuit Filed; DRII Class Action Securities Report

Levi & Korsinsky, LLP

Local 705 International Brotherhood of Teamsters Pension Fund v. Diamond Resorts International, Inc. 2:18-cv-01355 On July 23, 2018, shareholders sued Diamond Resorts International, Inc. (Diamond, DRII, or the Company) in United States District Court, District of Nevada. Plaintiffs in the DRII class action allege that they tendered their Diamond Resorts stock at an unfair price between July 14 2016, and September 1, 2016. They are now seeking compensation for financial losses stemming from the Company’s alleged misconduct during that time. For more information on the DRII Lawsuit, please read below and feel free to reach out to us with any questions or concerns.

 

Summary of the Allegations

Company Background

The Company (NYSE: DRII) is a self-proclaimed, “global leader in the hospitality and vacation ownership industries, with a worldwide network.” As such it has more than 400 “vacation destinations” in more than 30 countries around the world and sells “vacation ownership points,” which allow members to book rooms at its properties.

Diamond was founded in 2007 and “went public” five years later. It was a publicly held company until Apollo acquired it on September 2, 2016. Apollo has owned and controlled Diamond and all of its affiliates since then.

Summary of Facts

Diamond and nine of its current and former officers and directors now stand accused of deceiving shareholders by lying or withholding critical information related to certain transactions during the time in question.

Specifically, they are accused of omitting truthful information from a Recommendation Statement filed with the SEC. They are also accused of withholding information about offers made to certain Diamond board members “during the pendency of the Tender Offer.” By doing so, they allegedly enticed shareholders to tender their shares at an unfair price.

The truth emerged in a series of events that began on August 31, 2016, with internal confirmation that Apollo had hired the chairman of Diamond’s board of directors as a consultant, and September 2, 2016, when Apollo officially acquired the Company.

A closer look…

According to the July 23 complaint, private equity firm Apollo Global Management LLC in January 2016 “approached Diamond to discuss a potential take-private transaction in which Diamond, then a publicly-traded company, would be converted into a private company.”

Following a series of events, on June 23, 3016, Apollo submitted what turned out to be the winning bid for the acquisition of Diamond at $30.25 per share.

Then on June 26, 2016, the Diamond board voted to approve Apollo’s acquisition of the Company, even though the chairman abstained.

Then, on July 14, 2016, the defendants allegedly “caused a materially incomplete and misleading Recommendation Statement to be filed with the SEC.” In it, they “recommended that shareholders tender their shares pursuant to the Tender Offer, stating that the $30.25 offer price was fair and advisable.”

What they failed to disclose in the statement, however, was that “the Board’s Chairman had abstained from voting on the sale of Diamond for reasons that directly contradicted the Board’s recommendation to the stockholder.”

Furthermore, the defendants also filed  “materially incomplete and misleading Amendments to the Schedule 14D-9 dated August 9, 2016, and September 1, 2016” with the SEC. In them, they failed to disclose that Apollo had offered Diamond’s chairman “additional consideration for the deal in the form of a consulting agreement by Apollo;” and that “Apollo had offered financial incentives in the form of consulting agreements or co-investment opportunities” to Diamond’s vice-chairman and CEO.

Actions You May Take

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

NOTE: The deadline to file for lead plaintiff in this class action is September 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.

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 Diamond common stock using court approved loss calculations.

 

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:

DRII Lawsuit DRII Class Action

About Us

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

Attorney Advertising

 

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

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

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

 


FB Lawsuit Facebook Class Action Levi & Korsinsky LLP

Class Action Reports

FB Lawsuit Filed; Facebook Class Action Securities Report

Levi & Korsinsky, LLP

Kacouris v. Facebook Inc. et al 1:18-cv-06765 – On July 27, 2018, investors sued Facebook, Inc. (Facebook, FB, or the Company) in United States District Court, Southern District of New York. Plaintiffs in the Facebook class action allege that they acquired Facebook stock at artificially inflated prices between April 25, 2018 and July 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 more information on the FB Lawsuit, please read below and contact us with any questions or concerns.

 

Summary of the Allegations

Company Background

The Company (NASDAQ: FB) was founded in 2004 and operates a social media platform that allows users to “stay connected with friends and family, to discover what’s going on in the world, and to share and express what matters to them.”

According to its corporate website, Facebook had 1.47 billion daily active users on Facebook on average for June 2018. It also had 2.23 billion monthly active users on Facebook as of June 30, 2018.

Facebook employed 30,275 people in 13 U.S. cities and 43 cities around the world by the end of June 2018.

Summary of Facts

Facebook 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 and prospects during the Class Period.

Specifically, they are accused of omitting truthful information about revenue growth and a decrease in active users from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Facebook stock to trade at artificially inflated prices during the time in question.

The truth came out when Facebook announced its financial and operating results for the second quarter of 2018 after the market closed on July 25, 2108. The Company then shared “revenues and numbers of daily and monthly active users that fell short of market expectations.”

During a conference call held to discuss the Company’s second quarter results that day, one of the Individual Defendants said Facebook “expected its revenue growth to slow and its operating margins to fall” due to detrimental currency conditions and “plan[s] to grow and promote certain engaging experiences like Stories that currently have lower levels of monetization.”

In articles published the next day (July 26, 2018) the mainstream media reported that the Company lost more than $119 billion in value “in one day,” and that the Company’s revelations, “alarmed” investors.

A closer look…

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

For instance, on a form filed with the SEC on April 25, 2018, Facebook’s founder and CEO said in pertinent part: “Despite facing important challenges, our community and business are off to a strong start in 2018.”

On another form filed with the SEC on April 26, 2018, the Company reiterated much of the same information and included certifications pursuant to federal law that were signed by the Individual Defendants. These certifications stated, “the information contained in the [Q! 2018 10-Q] fairly presents, in all material respects, the financial condition and results of operations of the Company for the periods presented therein.”

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

Closing stock price prior to disclosures:

 

$217.50
Closing stock price the trading day after disclosures:

 

$176.26
One day stock price decrease (percentage) as a result of disclosures:

 

18.96%

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

 

Actions You May Take

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

NOTE: The deadline to file for lead plaintiff in this class action is September 25, 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 Facebook 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:

About Us

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

Attorney Advertising

 

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

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

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

 


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Class Action News

LogMeIn, Inc. Investigation Commences

Levi & Korsinsky

July 31, 2018

NEW YORK, July 31, 2018 – Levi & Korsinsky announces it has commenced an investigation of LogMeIn, Inc. (“LogMeIn” or “the Company”) (NASDAQ: LOGM) concerning possible violations of federal securities laws. On July 27, 2018, during a conference call with investors, CEO Bill Wagner explained that a “combination of imperfect execution and some hangover effects of last year’s merger with the GoTo business led to disappointing renewal rates.” On this news, shares of LogMeIn fell $26.60 to close at $77.85 per share on July 27, 2018.

To obtain additional information, go tohttp://www.zlk.com/pslra-d/logmein


Class Action News

Papa John’s International, Inc. Investigation Commences

Levi & Korsinsky

Levi & Korsinsky announces it has commenced an investigation of Papa John’s International, Inc. (“Papa John’s” or “the Company”) (NASDAQ: PZZA) concerning possible violations of federal securities laws. On July 11, 2018, Papa John’s announced the resignation of its Chairman of the Board and founder, John Schnatter, following reports that he had used a racial slur during a conference call earlier in the year. Shares of Papa John’s stock have fallen from a close of $50.79 on July 10, 2018, to a recent close of $42.06 on July 30, 2018.

To obtain additional information, go tohttp://www.zlk.com/pslra-d/papa-johns.


FB Lawsuit Facebook Class Action

Class Action News

Levi & Korsinsky Announces FB Lawsuit, Securities Class Action Filed

Levi & Korsinsky

NEW YORK, July 31, 2018 – Levi & Korsinsky announces a class action on behalf of all persons or entities who purchased or otherwise acquired securities of Facebook, Inc. (“Facebook”) (NASDAQ: FB) between April 26, 2018 and July 25, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of California. To get more information about the FB Lawsuit go to: http://www.zlk.com/pslra-d/facebook-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 Facebook class action alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (1) the number of daily and monthly active Facebook users was declining; (2) due to unfavorable currency conditions and plans to promote and grow features of Facebook’s social media platform with historically lower levels of monetization,  Facebook anticipated its revenue growth to slow and its operating margins to fall; and (3) as a result, Facebook’s public statements were materially false and misleading at all relevant times.

If you suffered a loss in Facebook you have until September 25, 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.

 


Merger News

Forest City Realty Trust Merger Investigation Commences

Levi & Korsinsky

NEW YORK, July 31, 2018 – The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Forest City Realty Trust, Inc. (“Forest City Realty” or the “Company”) (NYSE: FCE-A) stock prior to the July 31, 2018 merger announcement. Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Forest City Realty to Brookfield Asset Management Inc. (NYSE: BAM) for $25.35 per share. To learn more about the action and your rights, go tohttp://www.zlk.com/mna/forest-city-realty-trust-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 Forest City Realty merger investigation concerns whether the Board of Forest City Realty breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Brookfield Property Asset Management Inc. is underpaying for Forest City Realty shares, thus unlawfully harming Forest City Realty shareholders. Investors owning approximately 14% of Forest City Realty’s outstanding shares have agreed to tender their shares in favor of the transaction.


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Class Action News

Levi & Korsinsky Announces TTPH Lawsuit, Securities Class Action

Levi & Korsinsky

July 30, 2018

NEW YORK, July 30, 2018 – Levi & Korsinsky, LLP announces a class action on behalf of all persons or entities who purchased or otherwise acquired securities of Tetraphase Pharmaceuticals, Inc. (NASDAQ: TTPH) (1) Pursuant and/or traceable to the July 2017 Secondary Offering and/or (2) between March 8, 2017 and February 13, 2018You are hereby notified that the Tetraphase Pharmaceuticals 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 TTPH lawsuit click here: http://www.zlk.com/pslra-d/tetraphase-pharmaceuticals-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

The Tetraphase Pharmaceuticals Class Action complaint alleges that: (1) Tetraphase was increasing the patient enrollment in its IGNITE3 trial from 1,000 patients to 1,200 patients to meet the trial’s primary endpoints; (2) the enrollment of more patients in the trial indicated that the existing population was inadequate to meet the trial’s primary endpoints; and (3) consequently, Defendants’ statements about Tetraphase’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

If you suffered a loss in Tetraphase Pharmaceuticals you have until September 25, 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.


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Class Action News

Levi & Korsinsky Announces RMTI Lawsuit, Class Action Commences

Levi & Korsinsky

NEW YORK, July 30, 2018 – Levi & Korsinsky announces a class action on behalf of all persons or entities who purchased or otherwise acquired securities of Rockwell Medical, Inc. (“Rockwell”) (NASDAQ: RMTI) between March 16, 2018 and June 26, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the United States District court for the Eastern District of New York. To get more information about the RMTI lawsuit go to: http://www.zlk.com/pslra-d/rockwell-medical-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. 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) Rockwell was aware that The Centers for Medicare and Medicaid Services will not pursue Rockwell’s proposal for separate reimbursement for the drug Triferic; (2) the estimated reserves in the first quarter 2018 10-Q are misstated; (3) there was a material weakness in Rockwell’s internal controls over financial reporting; (4) consequently, Rockwell’s internal controls over financial reporting were ineffective during the Class Period; (5) Defendant Chioini withheld material information regarding Triferic from Rockwell’s auditor, corporate counsel and five independent directors of the Board; and (6) as a result, Defendants’ statements about the Company’s business, operations and prospects were materially false and misleading and/or lacked reasonable bases at all relevant times.

If you suffered a loss in Rockwell you have until September 25, 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.

 


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Class Action Reports

FPI Lawsuit Commences – Farmland Partners Class Action Report

Levi & Korsinsky, LLP

Kachmar v. Farmland Partners, Inc., et al 1:18-cv-01771 – On July 11, 2018, investors sued Farmland Partners, Inc. (Farmland Partners, FPI, or the Company) in United States District Court For The District of Colorado. Plaintiffs in the Farmland Partners Class Action Lawsuit (FPI Lawsuit) allege that they acquired Farmland Partners stock at artificially inflated prices between May 9, 2017, and July 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 Farmland Partners Lawsuit, please reach out to us today!

 

Summary of the Allegations

Company Background

Farmland Partners (NYSE:FPI) is a self-described “internally managed, publicly traded real estate company that owns and seeks to acquire high-quality farmland throughout North America addressing the global demand for food, feed, fiber and fuel.”

According to its website, the Company owned or had under contract, more than 166,000 acres in Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Kansas, Louisiana, Michigan, Mississippi, Nebraska, North Carolina, South Carolina, South Dakota, Texas and Virginia as of May 9, 2018. More than 125 tenant farmers grow more than 30 commercial crops on those Farmland properties.

Summary of Facts

Farmland Partners 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 during the Class Period.

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

The truth emerged on July 11, 2018, when Rota Fortune published online report in which it claimed the Company “artificially increased revenues by ‘making loans to related-party tenants who round-trip the cash back to FPI as rent’” The report also alleged that “310% of Farmland’s 2017 earnings could be fabricated.”

A closer look…

As alleged in the July 11 complaint, Farmland Partners 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 stated in pertinent part: “The substantial quarter-over-quarter revenue increase is indicative of the growth we achieved in the last twelve months.”

Then, on a form filed with the SEC on July 20, 2017, the Company again stated in pertinent part: “We expect to recognize the majority of our participating revenue, with a positive impact on AFFO, in the second half of the year.”

Finally, on yet another form filed with the SEC on May 9, 2018, the Company said in relevant part: “The benefits of scale are clearly showing up in our first quarter’s financial results. We expect such benefits to increase even further as we progress through the year, largely due to the concentration of revenue recognition in the fourth quarter for some of our properties.”

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

Closing stock price prior to disclosures:

 

$8.65
Closing stock price the trading day after disclosures:

 

$5.28
One day stock price decrease (percentage) as a result of disclosures:

 

38.96%

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

 

Actions You May Take

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

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

In order to identify your potential exposure to the alleged fraud during the time in question, you may wish to perform an analysis of your transactions in Farmland Partners 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:

FPI Lawsuit Class Action Levi & Korsinsky

About Us

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

Attorney Advertising

 

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

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

For additional information about the FPI Lawsuit or other institutional services we provide, please contact us.

 


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Class Action Reports

MD Lawsuit Announced – Mednax Class Action Lawsuit Report

Levi & Korsinsky, LLP

Cambridge Retirement System v. Mednax, Inc. et al 0:18-cv-61572-WPD — On July 10, 2018, investors sued Mednax, Inc. (Mednax, MD, or the Company) in United States District Court, Southern District of Florida. The Mednax lawsuit alleges that plaintiffs acquired Mednax stock at artificially inflated prices between February 4, 2016 and July 27, 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 MD Lawsuit, please contact us today!

 

Summary of the Allegations

Company Background

Mednax (NYSE: MD) bills itself as a “national medical group that comprises the nation’s leading providers of neonatal, anesthesia, maternal-fetal and pediatric medical and surgical subspecialty services.”

Founded in 1979, the Company provides “administration services” for the doctors in the physician practice groups it acquires. Specifically, it handles “ billing patients and third-party payors for services rendered by the affiliated physicians.” In return, the doctors in practice groups obtained by the Company sign limited “employment contracts” providing for “a base salary and incentive bonuses.”

According to the July 10 complaint, the Company “added 13 physician groups through acquisitions” in 2016. Of those, eight were anesthesiology practices, which brought the total number of affiliated anesthesiologists to 1,390 at year’s end.

Summary of Facts

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

Specifically, they are accused of omitting truthful information about the viability of Mednax’s business model from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused the Company’s stock to trade at artificially inflated prices during the time in question.

The truth began to emerge on April 20, 2017, when the Company announced “negative financial results for the first quarter of 2017, including missing earnings.”

Then, July 28, 2017 conference call held to discuss its second quarter earnings, Mednax announced that it “failed to complete any acquisitions of anesthesiologist practices during the quarter.” During the same call, the Company also revealed that, “any future anesthesiologist acquisitions were unlikely.”

A closer look…

As alleged in the July 10 complaint, Mednax 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 referenced its revenue growth, stating that it was “driven primarily by contributions from acquisitions completed since October 2014.”

During a February 4, 2016, conference call held to discuss the Company’s earnings for the fourth quarter of 2015, one of the Individual Defendants described the Company as a “preferred partner” for anesthesiologists and said in relevant part: ‘Based on our pipeline, I believe that we will continue to be one of the most active acquirers in this specialty at reasonable rates.”

Then, at a healthcare conference held on June 7, 2016, one of the Individual Defendants also stated in pertinent part: “Our pipeline is very robust… there will be more to come, because we do have plenty in the pipeline as well as, even with these acquisition activities, we have roughly about 2 times leverage ratio.”

Finally, on a form filed with the SEC on February 10, 2017, the Company stated in relevant part: “We continue to seek to expand our operations by acquiring established physician practices in our specialties which include neonatology, anesthesiology, maternal-fetal medicine and pediatric cardiology.”

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

Closing stock price prior to disclosures:

 

$56.49
Closing stock price the trading day after disclosures:

 

$47.73
One day stock price decrease (percentage) as a result of disclosures:

 

15.51%

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

 

Actions You May Take

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

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

In order to identify your potential exposure to the alleged fraud during the time in question, you may wish to perform an analysis of your transactions in Mednax 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:

Mednax Lawsuit MD Levi & Korsinsky

About Us

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

Attorney Advertising

 

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

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

For additional information about the Mednax Lawsuit or other institutional services we provide, please contact us.


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Merger News

RLJ Entertainment Merger Investigation Commences

Levi & Korsinsky

NEW YORK, July 30, 2018 – The following statement is being issued by Levi & Korsinsky, LLP:

To: All Persons or Entities who purchased RLJ Entertainment, Inc. (“RLJ Entertainment” or the “Company”) (NASDAQ: RLJE) stock prior to July 30, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of RLJ Entertainment to AMC Networks Inc. (NASDAQGS: AMCX) for $6.25 per share. Holders of the Company’s outstanding preferred stock may elect to receive $7.8125 or a share of preferred stock in the post-merger entity for each share of preferred common stock they own. To learn more about the action and your rights, go tohttp://www.zlk.com/mna/rlj-entertainment-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 RLJ Entertainment merger investigation concerns whether the Board of RLJ Entertainment breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether AMC Networks Inc. is underpaying for RLJ Entertainment shares, thus unlawfully harming RLJ Entertainment shareholders.


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Class Action Reports

FIZZ Lawsuit Underway: Fizz Class Action Report

Levi & Korsinsky, LLP

July 27, 2018

Luczak v. National Beverage Corp. et al 0:18-cv-61631-KMM — On July 17, 2018, investors sued National Beverage Corp. (National Beverage, FIZZ, or the Company) in United States District Court, Southern District of Florida. Plaintiffs in the FIZZ class action allege that they acquired National Beverage stock at artificially inflated prices between July 17, 2014 and July 3, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. For more information on the FIZZ lawsuit, please continue reading, and reach out to us today!

 

Summary of the Allegations

Company Background

According to its website, National Beverage (NASDAQ: FIZZ) is an “acknowledged leader” in the creation, development and sales of soft drinks and related products.

As such, the Company has 12 manufacturing facilities in the United States and offers “the widest selection of flavored soft drinks, juices, sparkling waters, energy drinks and nutritionally–enhanced waters.” Consumers can find its products in supermarkets, national chains, convenience stores, restaurants, hospitals, schools, wholesale clubs, and other retail establishments.

Established as a holding company for its subsidiaries, National Beverage Corp. was incorporated in Delaware in 1985 and has been trading as a public company on the NASDAQ since 1991.

Summary of Facts

National Beverage and two of its senior executives (the “Individual Defendants”) are accused of deceiving investors by lying and withholding critical information about the Company’s business, operational and compliance policies during the Class Period.

Specifically, they are accused of omitting truthful information about the Company’s certain “proprietary techniques,” and its CEO’s conduct from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused National Beverage stock to trade at artificially inflated prices during the time in question.

The truth emerged in a series of events that transpired between December 8, 2017, when concerned analysts assigned “underperforming,” and “sell” classifications to National Beverage stock, and July 3, 2018.   Of note in this context is an exchange of letters between the SEC and the Company regarding the Company’s prior statements about its “VPO and VPC metrics,” and an ensuing article published by the Wall Street Journal on June 26, 2018. The article revealed that the Company “declined to provide the requested figures.”

Then on July 3, the Wall Street Journal published another article revealing alleged sexual misconduct by the Company’s CEO (an Individual Defendant) between 2014 and 2016.

A closer look…

As alleged in the July 17 complaint, the Company repeatedly made false and misleading public statements during the Class Period.

For example, on a form filed with the SEC when the Class Period began, the Company referred to its Code of Ethics, which states in relevant part: “Any type of harassment, whether of a racial, sexual, ethnic or other nature, is absolutely prohibited.”

National Beverage also referred to its Code of Ethics in SEC filings on three other occasions during the Class Period.

Then, in a press release issued on May 4, 2017, the Company stated that it “employs methods that no other company does in this area – VPO (velocity per outlet) and VPC (velocity per capita).” It also claimed that it “utilize[s] two proprietary technique to magnify these measures and this creates growth never before thought possible.”

In another press release issued the next day, National Beverage stated that “[o]ur impressive VPO calculator… is flashing solid green numbers as we bring FY2017 to a close.”

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

Closing stock price prior to disclosures:

 

$109.94
Closing stock price the trading day after disclosures:

 

$107.04
Two day stock price decrease (percentage) as a result of disclosures:

 

2.64%

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

 

Actions You May Take

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

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

In order to identify your potential exposure to the alleged fraud during the time in question, you may wish to perform an analysis of your transactions in National Beverage 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:

FIZZ Lawsuit Fizz Class Action Lawsuit

About Us

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

Attorney Advertising

 

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

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

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


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Class Action Reports

PRTA Lawsuit Commences: Prothena Class Action Report

Levi & Korsinsky, LLP

On July 16, 2018, investors sued Prothena Corporation, plc (Prothena, PRTA, or the Company) in United States District Court, Southern District of New York. Plaintiffs in the Prothena class action allege that they acquired Prothena stock at artificially inflated prices between October 15, 2015 and April 20, 2018 (the “Class Period”). They are now seeking compensation for financial losses incurred upon public revelation of the Company’s alleged misconduct during that time. For more information about the PRTA lawsuit, please continue on below:

 

Summary of the Allegations

Company Background

The Company (NASDAQ: PRTA) describes itself as a “a global biotechnology company seeking to fundamentally alter the course of progressive diseases.” As such, it says it is “focused on the discovery and development of novel therapies in the neuroscience category.”

According to its website, the Company’s history can be traced to a company called Athena Neurosciences, which was founded in 1986. Elan Corporation plc acquired Athena in1996, assumed its “discovery and development activities.” Then, in December 2012, Prothena established its current identity by separating from Elan.

Today, the Company says, it “focuses on what we do best – developing immunotherapy approaches that interact in novel ways with proteins that are involved in amyloid or cell adhesion diseases.”

Summary of Facts

Prothena and three of its current and former 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 Company’s lead product candidate for possible use in the treatment of amyloid light chain amyloidosis (“AL amyloidosis”) from SEC filings and related material. By knowingly or recklessly doing so, they allegedly caused Prothena stock to trade at artificially inflated prices during the time in question.

The truth emerged in a series of events between June 29, 2017 and April 23, 2018. These included the publication of two reports by different investment research firms questioning the Company’s claims about its lead product candidate on June 29, 2017 and November 8, 2017; and the Company’s announcement on February 2, 2018 that its chief medical officer had resigned.

Before the market opened on April 23, 2018, Prothena shocked everyone by announcing that it would end all development of its lead product candidate for the treatment of AL amyloidosis after data from one of its clinical trials “failed to reach either its primary or secondary endpoints.”

A closer look…

As alleged in the July 16 complaint, the Company repeatedly made false and misleading public statements during the Class Period.

For example, in a press release issued February 18, 2016, the Company discussed the “’encouraging’ clinical results” from a clinical trial for its lead product candidate for potential treatment of AL amyloidosis, stating that: “NEOD001 Phase1/2 patients ‘achieved more than double the cardiac and renal biomarker responses when compared to historical data in patients treated off-label standard of care.”

In another press release issued on July 5, 2016, the Company announced new data from its “expanded Phase 1/2 clinical trial of NEOD001.” Specifically, it stated that the new Phase 1/2 data showed ‘best response rates of 53% and 63%’ in cardiac and renal-evaluable patients, which were ‘consistent with those previously reported.’”

Then, at a healthcare conference on September 12, 2016, one of the Individual Defendants stated in pertinent part: “We continue to see very consistent results from our dose escalation versus our expansion, and so that was very exciting for us.”

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

Closing stock price prior to disclosures:

 

$36.84
Closing stock price the trading day after disclosures:

 

$11.50
One day stock price decrease (percentage) as a result of disclosures:

 

69%

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

 

Actions You May Take

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

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

In order to identify your potential exposure to the alleged fraud during the time in question, you may wish to perform an analysis of your transactions in Prothena 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:

PRTA Lawsuit Prothena Class Action

About Us

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

Attorney Advertising

 

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

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

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


Class Action News

Helios and Matheson Analytics Inc. Investigation Commences

Levi & Korsinsky

Levi & Korsinsky announces an investigation of Helios and Matheson Analytics Inc. (“Helios and Matheson” or “the Company”) (NASDAQ: HMNY) concerning possible violations of federal securities laws. Helios and Matheson is the parent company for MoviePass, a subscription-based movie theater ticketing platform.

On July 27, 2018, shares of Helios and Matheson plummeted after the Company filed a Form 8-K with the U.S. Securities and Exchange Commission acknowledging that an outage of the MoviePass service on July 26, 2018 was due to the Company running out of funds. According to the filing, Helios and Matheson was forced to borrow more than $6 million to resume operations. Following this news, shares of Helios and Matheson were down 59% on intraday trading on July 27, 2018.

To obtain additional information, go to http://www.zlk.com/pslra-d/helios-and-matheson-analytics-inc.


Merger News

SUPERVALU Merger Investigation

Levi & Korsinsky

To: All Persons or Entities who purchased SUPERVALU INC. (“SUPERVALU” or the “Company”) (NYSE: SVU) stock prior to July 26, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the SUPERVALU merger with United Natural Foods, Inc. (NASDAQGS: UNFI) for $32.50 per share. To learn more about the action and your rights, go tohttp://www.zlk.com/mna/supervalu-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 SUPERVALU merger investigation concerns whether the Board of SUPERVALU breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether United Natural Foods, Inc. is underpaying for SUPERVALU shares, thus unlawfully harming SUPERVALU 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.


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Merger News

Green Bancorp Merger Investigation

Levi & Korsinsky

July 24, 2018

To: All Persons or Entities who purchased Green Bancorp, Inc. (“Green Bancorp” or the “Company”) (NASDAQGS: GNBC) stock prior to July 24, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the Green Bancorp sale to Veritex Holdings, Inc. (NASDAQGM: VBTX). Under the terms of the transaction, Green Bancorp shareholders will receive 0.79 shares of Veritex for each share of Green Bancorp stock they own; based on the closing price of Veritex on July 23, 2018, this represents an approximate value of $32.77 per share. To learn more about the action and your rights, go tohttp://www.zlk.com/mna/green-bancorp-inc.

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


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Merger News

FCB Merger Investigation

Levi & Korsinsky

To: All Persons or Entities who purchased FCB Financial Holdings, Inc. (“FCB Financial” or the “Company”) (NYSE: FCB) stock prior to July 24, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the FCB Financial merger with Synovus Financial Corp. (NYSE: SNV). Under the terms of the transaction, FCB Financial shareholders will receive 1.055 shares of Synovus common stock for each share of FCB Financial stock they own; based on the closing price of Synovus on July 23, 2018, this represents a value of approximately $58.15 per share. To learn more about the action and your rights, go tohttp://www.zlk.com/mna/fcb-financial.

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


Merger News

LPNT Merger Investigation

Levi & Korsinsky

July 23, 2018

To: All Persons or Entities who purchased LifePoint Health, Inc. (“LifePoint Health” or the “Company”) (NASDAQGS: LPNT) stock prior to July 23, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the LifePoint Health merger. LifePoint Health will merge with RCCH HealthCare Partners for $65 per share. To learn more about the action and your rights, go tohttp://www.zlk.com/mna/lifepoint-health 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 LPNT merger investigation concerns whether the Board of LifePoint Health breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether RCCH HealthCare Partners is underpaying for LifePoint Health shares, thus unlawfully harming LifePoint Health shareholders.


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Class Action News

Danske Bank Investigation Commences

Levi & Korsinsky

July 19, 2018

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

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


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Class Action Reports

MRCY Lawsuit Filed – Mercury Systems Class Action Litigation Report

Levi & Korsinsky, LLP

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

 

Summary of the Allegations

Company Background

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

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

Summary of Facts

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

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

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

A closer look…

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

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

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

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

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

Closing stock price prior to disclosures:

 

$42.93
Closing stock price the trading day after disclosures:

 

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

 

18.68%

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

 

Actions You May Take

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

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

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

Recently Filed Cases

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

MRCY Lawsuit Mercury Systems Class Action Lawsuit

About Us

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

Attorney Advertising

 

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

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

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


GLCNF class action Glencore Lawsuit Levi & Korsinsky

Class Action Reports

GLCNF Lawsuit Filed, Securities Class Action Report

Levi & Korsinsky, LLP

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

 

Summary of the Allegations

Company Background

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

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

Summary of Facts

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

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

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

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

A closer look…

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

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

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

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

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

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

Closing stock price prior to disclosures:

 

$9.17
Closing stock price the trading day after disclosures:

 

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

 

9.38%

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

 

Actions You May Take

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

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

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

Recently Filed Cases

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

GLCNF Lawsuit Glencore Class Action Lawsuit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

About Us

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

Attorney Advertising

 

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

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

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

 


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Class Action News

Levi & Korsinsky Announces FIZZ Lawsuit, Class Action Commences

Levi & Korsinsky

July 18, 2018

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

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

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

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

 


Class Action News

Levi & Korsinsky Announces FPI Lawsuit, Class Action Commences

Levi & Korsinsky

July 17, 2018

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

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

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

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


Merger News

GulfMark Offshore Merger Investigation

Levi & Korsinsky

July 16, 2018

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

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

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


Class Action News

FPI Class Action Investigation Commences

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July 12, 2018

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

 

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


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Class Action News

MRCY Class Action Lawsuit Commences

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

 

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

 

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

 

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

 

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

 


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Class Action News

MD Class Action Deadline Approaches

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

 

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

 

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

 

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


GLCNF class action Glencore Lawsuit Levi & Korsinsky

Class Action News

GLCNF Class Action Deadline Approaches

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

 

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

 

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

 

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


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Class Action News

SBGL Class Action Deadline Approaches

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July 10, 2018

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

 

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

 

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

 

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


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Class Action News

ACAD Class Action Investigation Commences

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July 9, 2018

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

 

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


RSYS merger Levi & Korsinsky

Merger News

RSYS Merger Investigation

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

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

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


QCP merger Levi & Korsinsky

Merger News

QCP Merger Investigation

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

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

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


JNP merger Levi & Korsinsky

Merger News

JNP Merger Investigation

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

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

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


XRM merger Levi & Korsinsky

Merger News

XRM Merger Investigation

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

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

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


KERX merger Levi & Korsinsky

Merger News

KERX Merger Investigation

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

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

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


SBGL Class Action Levi & Korsinsky

Class Action Reports

SBGL Class Action Report

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July 6, 2018

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

 

Summary of the Allegations

Company Background

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

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

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

Summary of Facts

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

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

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

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

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

A closer look…

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

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

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

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

Closing stock price prior to disclosures:

 

$2.82
Closing stock price the trading day after disclosures:

 

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

 

10.99%

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

 

Actions You May Take

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

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

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

 

 

 

 

 

Recently Filed Cases

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

 

SBGL Class Action Tracker

 

About Us

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

Attorney Advertising

 

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

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

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


FLKS class action Levi & Korsinsky

Class Action Reports

FLKS Class Action Report

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July 2, 2018

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

 

Summary of the Allegations

Company Background

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

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

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

Summary of Facts

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

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

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

A closer look…

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

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

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

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

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

Closing stock price prior to disclosures:

 

$4.18
Closing stock price the trading day after disclosures:

 

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

 

75.12%

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

 

Actions You May Take

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

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

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

 

 

 

 

 

Recently Filed Cases

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

 

Class Action Tracker

 

About Us

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

Attorney Advertising

 

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

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

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


AKERS class action Levi & Korsinsky

Class Action Reports

AKERS Class Action Report

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

 

Summary of the Allegations

Company Background

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

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

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

Summary of Facts

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

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

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

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

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

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

History Repeating Itself

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

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

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

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

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

Closing stock price prior to disclosures:

 

$0.49
Closing stock price the trading day after disclosures:

 

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

 

6%

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

 

Actions You May Take

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

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

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

Recently Filed Cases

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

 

Class Action Tracker

About Us

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

Attorney Advertising

 

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

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

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


PCG class action Levi & Korsinsky

Class Action Reports

PCG Class Action Report

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

 

Summary of the Allegations

Company Background

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

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

Summary of Facts

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

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

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

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

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

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

 

A closer look…

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

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

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

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

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

Closing stock price prior to disclosures:

 

$41.45
Closing stock price the trading day after disclosures:

 

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

 

4.08%

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

 

Actions You May Take

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

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

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

Recently Filed Cases

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


 

Class Action Tracker 

 

About Us

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

Attorney Advertising

 

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

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

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


TAL class action Levi & Korsinsky

Class Action Reports

TAL Class Action Report

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

 

Summary of the Allegations

Company Background

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

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

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

Summary of Facts

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

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

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

A closer look…

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

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

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

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

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

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

Closing stock price prior to disclosures:

 

$45.43
Closing stock price the trading day after disclosures:

 

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

 

15.45%

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

 

Actions You May Take

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

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

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

 

 

 

 

 

 

Recently Filed Cases

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


Class Action Tracker 

 

 

About Us

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

Attorney Advertising

 

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

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

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


Class Action Reports

UNM Class Action Report

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June 29, 2018

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

(more…)


Merger News

CVG Merger Investigation

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

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

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


GOGO class action lawsuit Levi & Korsinsky

Class Action News

GOGO Class Action Lawsuit Deadline Approaches

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June 28, 2018

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

 

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

 

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

 

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


PF merger Levi & Korsinsky

Merger News

PF Merger Investigation

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June 27, 2018

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

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

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


EDR class action lawsuit Levi & Korsinsky

Class Action News

EDR Class Action Lawsuit Deadline Approaches

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June 26, 2018

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

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

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


HAIR class action lawsuit Levi & Korsinsky

Class Action News

HAIR Class Action Lawsuit Deadline Approaches

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

 

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

 

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

 

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

 

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


QCOM class action Levi & Korsinsky

Class Action Reports

Qualcomm Class Action Lawsuit

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June 22, 2018

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

 

Summary of the Allegations

Company Background

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

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

Summary of Facts

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

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

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

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

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

 

A closer look…

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

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

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

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

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

Closing stock price prior to disclosures:

 

$62.81
Closing stock price the trading day after disclosures:

 

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

 

4.95%

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

 

Actions You May Take

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

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

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

Recently Filed Cases

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

 

QCOM Class Action
 

About Us

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

Attorney Advertising

 

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

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

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


Class Action Reports

Deutsche Bank Class Action Lawsuit

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

 

Summary of the Allegations

Company Background

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

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

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

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

Summary of Facts

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

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

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

A closer look…

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

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

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

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

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

Closing stock price prior to disclosures:

 

$11.57
Closing stock price the trading day after disclosures:

 

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

 

4.24%

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

 

Actions You May Take

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

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

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

 

Recently Filed Cases

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

 

DB Class Action
 

About Us

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

Attorney Advertising

 

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

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

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


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Class Action Reports

Ormat Technologies Class Action Lawsuit

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

 

Summary of the Allegations

Company Background

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

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

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

Summary of Facts

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

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

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

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

A closer look…

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

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

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

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

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

Closing stock price prior to disclosures:

 

$53.02
Closing stock price the trading day after disclosures:

 

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

 

1.26%

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

 

Actions You May Take

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

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

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

 

Recently Filed Cases

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


ORA Class Action 
 

 

About Us

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

Attorney Advertising

 

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

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

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


Class Action News

TAL Education Class Action Lawsuit Deadline Approaches

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

 

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

 

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

 

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

 

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


Web.com merger Levi & Korsinsky

Merger News

Web.com Merger Investigation

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June 21, 2018

To: All Persons or Entities who purchased Web.com Group, Inc. (“Web.com” or the “Company”) (NASDAQGS: WEB) stock prior to June 21, 2018You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the Web.com merger. Web.com will be sold to an affiliate of Siris Capital Group, LLC for $28.00 per share. This updated purchase price follows receipt of a superior proposal from a financial bidder, Sirius agreeing to match following negotiations, and approval by the board of directors of an amended and restated merger agreement.To learn more about the action WEB merger and your rights, go tohttp://www.zlk.com/mna/web-com-group-inc or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.

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

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


Cloud With Me lawsuit Levi & Korsinsky

Class Action News

Cloud With Me Lawsuit, ICO Class Action Deadline Approaches

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June 20, 2018

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

 

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

 

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

 

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


Class Action News

Esperion Class Action Lawsuit Deadline Approaches

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June 19, 2018

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

 

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

 

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

 

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


TAL class action investigation Levi & Korsinsky

Class Action News

TAL Class Action Investigation Commences

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

 

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


FBNK merger Levi & Korsinsky

Merger News

FBNK Merger Investigation

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

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

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


COTV Merger Levi & Korsinsky

Merger News

COTV Merger Investigation

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

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

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

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


FAT class action investigation Levi & Korsinsky

Class Action News

FAT Class Action Investigation

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

 

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


PERY sale Levi & Korsinsky

Merger News

PERY Sale Investigation

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

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

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


COBZ merger Levi & Korsinsky

Class Action News

COBZ Merger Investigation

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

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

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


ORA class action Levi & Korsinsky

Class Action News

ORA Class Action Deadline Approaches

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June 18, 2018

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

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DB class action Levi & Korsinsky

Class Action News

DB Class Action Deadline Approaching

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June 15, 2018

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

 

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

 

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

 

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

 

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


QCOM class action Levi & Korsinsky

Class Action News

QCOM Class Action Lawsuit Deadline Approaches

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

 

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

 

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

 

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


FLKS class action investigation Levi & Korsinsky

Class Action News

FLKS Class Action Investigation

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

 

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

 


CALI class action lawsuit Levi & Korsinsky

Class Action Reports

CALI Class Action Report

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June 14, 2018

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

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ANW class action Levi & Korsinsky

Class Action Reports

ANW Class Action Report

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

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PCG Class Action Levi & Korsinsky

Class Action News

PCG Class Action Lawsuit Commences

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June 13, 2018

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

 

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

 

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

 

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

 

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


CSTW merger Levi & Korsinsky

Merger News

CSTW Merger Investigation

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June 12, 2018

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

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

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


Class Action News

Fluor Class Action Lawsuit Filed by Levi & Korsinsky

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

 

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

 

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

 

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

 


QCOM class action investigation Levi & Korsinsky

Class Action News

QCOM Class Action Investigation Commences

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

 

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


EVHC merger investigation Levi & Korsinsky

Merger News

EVHC Merger Investigation

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June 11, 2018

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

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

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


USG merger investigation Levi & Korsinsky

Merger News

USG Merger Investigation

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

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

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


REPH class action Levi & Korsinsky

Class Action News

REPH Class Action Lawsuit Commences

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June 8, 2018

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

 

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

 

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

 

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


DB class action investigation Levi & Korsinsky

Class Action News

DB Class Action Investigation

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

 

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


REVG class action investigation Levi & Korsinsky

Class Action News

REVG Class Action Investigation Commences

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June 7, 2018

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

 

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


AVHI merger Levi & Korsinsky

Merger News

AVHI Merger Investigation

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

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

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


MBVX class action Levi & Korsinsky

Class Action Reports

MBVX Class Action Report

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

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REPH class action Levi & Korsinsky

Class Action Reports

REPH Class Action Report

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

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Class Action News

ANW Class Action Lawsuit Commences

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June 6, 2018

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

 

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

 

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

 

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

 

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


ANW class action investigation Levi & Korsinsky

Class Action News

ANW Class Action Investigation Commences

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

 

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

 


PRTA class action Levi & Korsinsky

Class Action News

PRTA Class Action Lawsuit Commences

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June 1, 2018

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

 

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

 

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

 

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

 

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


REPH class action investigation Levi & Korsinsky

Class Action News

REPH Class Action Investigation Commences

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

 

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


MFGP class action Levi & Korsinsky

Class Action News

MFGP Class Action Lawsuit Commences

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May 31, 2018

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

 

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

 

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


PPG class action Levi & Korsinsky

Class Action News

PPG Class Action Lawsuit Commences

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

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RMTI class action investigation

Class Action News

RMTI Class Action Investigation Commences

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

 

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


Class Action Reports

FLR Class Action Report

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

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Class Action Reports

PPG Class Action Report

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May 29, 2018

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

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Class Action News

FLR Class Action Lawsuit Filed by Levi & Korsinsky

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

 

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

 

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

 

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

 


PRTA class action Levi & Korsinsky

Class Action Reports

PRTA Class Action Report

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May 23, 2018

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

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Class Action Reports

KLIC Class Action Report

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

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SYMC class action Levi & Korsinsky

Class Action Reports

SYMC Class Action Report

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

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KLIC class action Levi & Korsinsky

Class Action News

KLIC Class Action Lawsuit Commences

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May 22, 2018

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

 

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

 

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

 

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

 

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


LHO merger Levi & Korsinsky

Merger News

LHO Merger Investigation

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

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

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


MBFI merger Levi & Korsinsky

Merger News

MBFI Merger Investigation

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

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

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


ORA class action investigation, Levi & Korsinsky

Class Action News

ORA Class Action Investigation Commences

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May 18, 2018

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

 

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


INWK class action Levi & Korsinsky

Class Action Reports

INWK Class Action Report

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

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Flex class action Levi & Korsinsky

Class Action Reports

FLEX Class Action Report

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

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Class Action News

INWK Class Action Lawsuit Commences

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May 17, 2018

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

 

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

 

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

 

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


PRTA class action investigaiton Levi & Korsinsky

Class Action News

PRTA Class Action Investigation Commences

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

 

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


WPZ merger Levi & Korsinsky

Merger News

WPZ Merger Investigation

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

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

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


ESPR class action Levi & Korsinsky

Class Action News

ESPR Class Action Lawsuit Commences

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May 16, 2018

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

 

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

 

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

 

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


Paragon Coin lead counsel Levi & Korsinsky

Class Action News

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

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

ABAX class action investigation Levi & Korsinsky

Class Action News

ABAX Class Action Investigation Commences

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

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

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


FLEX class action Levi & Korsinsky

Class Action News

FLEX Class Action Commences

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May 15, 2018

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

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MOH class action Levi & Korsinsky

Class Action News

MOH Class Action Lawsuit Commences

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May 14, 2018

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

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Class Action Reports

QNST Class Action Report

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


Class Action Reports

LC Class Action Report

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

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ESPR class action Levi & Korsinsky

Class Action Reports

ESPR Class Action Report

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

(more…)


PPG class action investigation Levi & Korsinsky

Class Action News

PPG Class Action Investigation Commences

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May 11, 2018

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

 

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


FLR class action investigation Levi & Korsinsky

Class Action News

FLR Class Action Investigation Commences

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

 

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


UNM class action investigation Levi & Korsinsky

Class Action News

UNM Class Action Investigation Commences

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

 

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


SYMC class action investigation Levi & Korsinsky

Class Action News

SYMC Class Action Investigation Commences

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

 

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


KLIC class action investigation Levi & Korsinsky

Class Action News

KLIC Class Action Lawsuit Investigation Commences

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

 

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


Class Action News

LC Class Action Lawsuit Commences

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May 10, 2018

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

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ARMO merger Levi & Korsinsky

Merger News

ARMO Merger Investigation

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

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

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


MTGE merger Levi & Korsinsky

Merger News

MTGE Merger Investigation

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

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

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

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


Shire merger Levi & Korsinsky

Merger News

SHPG Merger Investigation

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

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

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


GSAT merger Levi & Korsinsky

Merger News

GSAT Merger Investigation

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

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

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


MITL merger Levi & Korsinsky

Merger News

MITL Merger Investigation

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

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

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


Merger News

RPXC Merger Investigation

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May 9, 2018

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

 

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

 

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


GPT merger Levi & Korsinsky

Merger News

GPT Merger Investigation

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

 

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

 

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


KLXI merger Levi & Korsinsky

Merger News

KLXI Merger Investigation

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

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

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


Aceto class action Levi & Korsinsky

Class Action Reports

ACET Class Action Report

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May 8, 2018

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

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Gridsum class action Levi & Korsinsky

Class Action Reports

GSUM Class Action Report

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

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Allegiant class action Levi & Korsinsky

Class Action Reports

ALGT Class Action Report

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

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Macquarie class action Levi & Korsinsky

Class Action Reports

MIC Class Action Report

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

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GSUM class action Levi & Korsinsky

Class Action News

GSUM Class Action Lawsuit Commences

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May 4, 2018

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

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Rosemary M. Rivas Levi & Korsinsky

Class Action News

Levi & Korsinsky Partner Receives CLAY Award

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May 2, 2018

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

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

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


MIC class action Levi & Korsinsky

Class Action News

MIC Class Action Lawsuit Commences

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

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EDGE class action lawsuit Levi & Korsinsky

Class Action News

EDGE Class Action Lawsuit Commences

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

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SPB class action investigation Levi & Korsinsky

Class Action News

SPB Class Action Investigation Commences

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May 1, 2018

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

 

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


Flex class action investigation Levi & Korsinsky

Class Action News

Flex Class Action Investigation Commences

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

 

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


LYV class action Levi & Korsinsky

Class Action News

LYV Class Action Lawsuit Commences

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

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Switch class action investigation Levi & Korsinsky

Class Action News

SWCH Class Action Investigation Commences

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

 

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


Class Action News

ALGT Class Action Lawsuit Commences

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April 30, 2018

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

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MYGN class action lawsuit Levi & Korsinsky

Class Action News

MYGN Class Action Lawsuit Commences

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

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SCAS 50 2017 Levi & Korsinsky

Class Action News

Levi & Korsinsky Named in the SCAS 50 2017

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April 26, 2018

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

 

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

 

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

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


Class Action Reports

MYGM Class Action Lawsuit Litigation Report

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

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Class Action Reports

Live Nation Class Action Lawsuit Litigation Report

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

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Mercury Systems class action investigation Levi & Korsinsky

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Mercury Systems Class Action Investigation Commences

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April 25, 2018

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

 

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


Aceto class action Levi & Korsinsky

Class Action News

Aceto Class Action Lawsuit Commences

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

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Edge Therapeutics class action investigation Levi & Korsinsky

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Edge Therapeutics Class Action Investigation Commences

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

 

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


Macquarie class action investigation Levi & Korsinsky

Class Action News

Macquarie Class Action Investigation Commences

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

 

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

 


Gridsum class action Levi & Korsinsky

Class Action News

Gridsum Class Action Investigation Commences

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April 23, 2018

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

 

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


Class Action Reports

Colony Northstar Class Action Report

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April 20, 2018

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

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Ericsson class action Levi & Korsinsky

Class Action Reports

Ericsson Class Action Report

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

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Aceto class action investigation Levi & Korsinsky

Class Action News

Aceto Class Action Investigation Commences

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April 19, 2018

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

 

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


Class Action Reports

Synacor Class Action Report

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

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IZEA class action Levi & Korsinsky

Class Action Reports

IZEA Class Action Report

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

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Class Action Reports

TrueCar Class Action Report

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

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Longfin class action Levi & Korsinsky

Class Action Reports

Longfin Class Action Report

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

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Solid Biosciences class action Levi & Korsinsky

Class Action Reports

Solid Biosciences Class Action Report

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

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Shanda Games class action Levi & Korsinsky

Class Action Reports

Shanda Games Class Action Report

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

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Overstock.com class action Levi & Korsinky

Class Action News

Overstock.com Class Action Lawsuit Commences

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

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Synacor class action Levi & Korsinky

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Synacor Class Action Lawsuit Commences

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

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Colony Northstar class action Levi & Korsinsky

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Colony Northstar Class Action Lawsuit Commences

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April 18, 2018

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

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Ericsson class action lawsuit Levi & Korsinsky

Class Action News

Ericsson Class Action Lawsuit Commences

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

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Synacor class action investigation Levi & Korsinsky

Class Action News

Synacor Class Action Investigation Commences

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

 

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


Overstock.com class action investigation Levi & Korsinsky

Class Action News

Overstock.com Class Action Investigation Commences

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

 

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


Longfin class action Levi & Korsinsky

Class Action News

Longfin Class Action Lawsuit Commences

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

 

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

 

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

 

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


TrueCar class action Levi & Korsinsky

Class Action News

TrueCar Class Action Lawsuit Commences

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

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Patterson Companies class action Levi & Korsinsky

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Patterson Companies Class Action Lawsuit Commences

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

 

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

 

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

 

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


Celgene class action lawsuit Levi & Korsinsky

Class Action News

Celgene Class Action Lawsuit Commences

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

 

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

 

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

 

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

 


Solid Biosciences Class Action Lawsuit Levi & Korsinsky

Class Action News

Solid Biosciences Class Action Commences

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

 

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

 

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

 

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


Facebook Class Action Lawsuit Levi & Korsinsky

Class Action News

Facebook Class Action Lawsuit Commences

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April 17, 2018

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

 

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

 

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

 

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


Facebook Class Action Lawsuit Levi & Korsinsky

Class Action News

A10 Networks Class Action Lawsuit Commences

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

 

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

 

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

 

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


Facebook Class Action Lawsuit Levi & Korsinsky

Class Action News

CEMEX Class Action Lawsuit Commences

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

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Facebook Class Action Lawsuit Levi & Korsinsky

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BRF S.A. Class Action Lawsuit Commences

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

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Facebook Class Action Lawsuit Levi & Korsinsky

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Foot Locker Class Action Lawsuit Commences

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

 

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

 

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

 

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


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WageWorks Class Action Lawsuit Commences

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

 

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

 

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

 

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


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Akorn Class Action Lawsuit Commences

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

 

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

 

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

 

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


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Henry Schein Class Action Lawsuit Commences

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

 

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

 

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

 

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


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Atlas Financial Holdings Class Action Lawsuit Commences

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

 

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

 

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

 

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

 


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Patterson Companies Class Action Report

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

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Facebook Class Action Report

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

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