NEW YORK, Sept. 18, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Curaleaf Holdings, Inc. (Other OTC: CURLF), 2U, Inc. (NASDAQ: TWOU), Granite Construction Incorporated (NYSE: GVA), and Pluralsight, Inc. (NASDAQ: PS). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Curaleaf Holdings, Inc. (Other OTC: CURLF)
Class Period: November 21, 2018 to July 22, 2019
Lead Plaintiff Deadline: October 4, 2019
On July 22, 2019, the FDA sent a warning letter to Curaleaf stating that several of the Company’s CBD products sold on the Company’s website were “misbranded drugs” in violation of the Federal Food, Drug, and Cosmetic Act.
On this news, Curaleaf’s stock price fell $0.54, or over 7%, to close at $7.40 per share on July 23, 2019.
The complaint, filed on August 5, 2019, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Curaleaf, on its website and social media pages, marketed its CBD products to be used as drugs and dietary supplements, contrary to law; (2) Curaleaf also sold unapproved animal drugs on its website; (3) such conduct would result in a warning letter from the U.S. Food and Drug Administration (“FDA”); and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
For more information on the Curaleaf class action go to: https://bespc.com/CURLF
2U, Inc. (NASDAQ: TWOU)
Class Period: February 25, 2019 to July 30, 2019
Lead Plaintiff Deadline: October 7, 2019
The complaint, filed on August 7, 2019, alleges that throughout the Class Period defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that the Company faced increasing competition in online education and particularly regarding graduate programs; (2) that the Company faced certain program-specific issues that negatively impacted its performance; (3) that, as a result, the Company’s business model was not sustainable; (4) that the Company would slow its program launches; and (5) that, as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
For more information on the 2U class action go to: https://bespc.com/TWOU
Granite Construction, Inc. (NYSE: GVA)
Class Period: October 26, 2018 to August 1, 2019
Lead Plaintiff Deadline: October 15, 2019
On July 29, 2019, the company disclosed that second quarter 2019 financial results were negatively impacted by non-cash charges related to four civil joint venture projects. As a result, Granite Construction expected to report net loss per diluted share in the range of $2.05 to $2.10 per diluted share.
On this news, the company’s stock price fell $7.98 per share, or nearly 18%, to close at $36.49 per share on July 30, 2019.
Then on August 2, 2019, the company announced its second quarter 2019 financial results, reporting revenue of $789.5 million, including $114.2 million in revenue reduction due to the charges disclosed earlier that week.
On this news, the Company’s stock price fell $2.78 per share, or over 8%, to close at $31.22 per share on August 2, 2019.
The complaint, filed on August 12, 2019, alleges that throughout the Class Period, defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose: (1) that the company had assumed certain risks in connection with its heavy civil joint venture projects bid between 2012 and 2014; (2) that there was an “untenable” imbalance of risk sharing between the Company and the joint venture project owners; (3) that, as a result, the company was reasonably likely to incur additional project costs for its joint venture projects; (4) the company was reasonably likely to incur additional costs in connection with certain project disputes; and (5) that, as a result of the foregoing, defendants’ positive statements about the company’s business, operations, and prospects and prospects were materially misleading and/or lacked a reasonable basis.
For more information on the Granite Construction class action go to: https://bespc.com/gva
Pluralsight, Inc. (NASDAQ: PS)
Class Period: August 2, 2018 to July 31, 2019
Lead Plaintiff Deadline: October 15, 2019
The Company completed its initial public offering (“IPO”) in May 2018. Less than a year later, Pluralsight completed a secondary public offering (“SPO”) on March 6, 2019, wherein it sold 15.6 million shares at a price of $29.25 per share.
On July 31, 2019, Pluralsight announced disappointing financial results for the second quarter, disclosing that its billings growth rate had sharply deteriorated. The Company blamed its declining growth in billings on sales execution challenges and other issues with its salesforce. Pluralsight also disclosed that its Chief Revenue Officer was resigning. In response to these disclosures, Pluralsight’s share price declined. The stock price fell $12.13 per share in a single day – a nearly 40% drop – to close at $18.56 per share on August 1, 2019.
The complaint, filed on August 13, 2019, alleges that throughout the Class Period, Pluralsight misrepresented the Company’s business outlook, particularly related to the company’s salesforce and its ability to generate strong growth in billings. Specifically, the company failed to disclose that Pluralsight was experiencing substantial delays in hiring and properly training the salesforce necessary to meet its billing projections. In addition, the company knew at the time of the SPO that it was behind schedule onboarding new sales representatives, which was hurting the company’s sales execution and preventing Pluralsight from meeting its high growth projections. Instead of disclosing such facts at the time of the SPO, and to cash-out at inflated prices, defendants intentionally obscured and omitted this pertinent information from investors.
For more information on the Pluralsight class action go to: https://bespc.com/ps
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com