NEW YORK, Sept. 25, 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 SAExploration, Inc. 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
SAExploration, Inc. (NASDAQ: SAEX)
Class Period: March 15, 2016 to August 15, 2019
Lead Plaintiff Deadline: October 17, 2019
On August 15, 2019, SAExploration revealed that certain accounting matters that arose in 2015-2016 were under investigation by the SEC. The company stated that they would restate its previously issued financial statements for fiscal years 2015 through 2018 and delay filing its 10-Q for the quarter ended June 30, 2019. The company’s Chief Executive Officer was placed on administrative leave, and its Chief Financial Officer was terminated from his position.
On this news, SAExploration’s share price fell over 33% on August 16, 2019, closing at $2.22. per share.
The complaint, filed August 18, 2019, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the company improperly did not classify Alaska Seismic Ventures, LLC ("ASV") as a variable interest entity; (2) the company had a controlling financial interest in ASV, which required the company to consolidate ASV in its financial statements; (3) the company had deficient internal controls over financial reporting; (4) these practices were likely to lead to an investigation of the company by the SEC; (5) SAExploration would be forced to delay the filing of its quarterly report for the quarter ended June 30, 2019; and (6) as a result, defendants' statements about SAExploration's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
To learn more about the SAExploration class action go to: https://bespc.com/saex
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