BENSALEM, Pa., Oct. 21, 2019 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
Farfetch Limited (NYSE: FTCH)
Class Period: pursuant and/or traceable to September 2018 initial public offering
Lead Plaintiff Deadline: November 18, 2019
The complaint filed in this class action alleges that 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 large scale online wholesale was reasonably likely to lead to pricing volatility and heavy promotions of luxury goods; (2) that the Company’s core business was vulnerable to such pricing pressures; (3) that the Company would aggressively pursue acquisitions to remain profitable; and (4) 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.
Slack Technologies, Inc. (NYSE: WORK)
Class Period: Pursuant and/or traceable to the Registration Statement for the resale of up to 118,429,640 shares of its Class A common stock whereby Slack began trading as a public company
Lead Plaintiff Deadline: November 18, 2019
The complaint filed in this class action alleges that the Registration Statement was false and misleading and omitted to state material adverse facts. Specifically, Defendants failed to disclose to investors: (1) that the Company’s Slack Platform was susceptible to recurring service-level disruptions; (2) that such disruptions were increasingly likely to occur as the Company scaled its services to a larger user base; (3) that the Company provides credits even if a customer was not specifically affected by service-level disruptions; (4) that, as a result, any service-level disruptions would have a material adverse impact on the Company’s financial results; 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.
Eldorado Resorts, Inc. (NASDAQ: ERI)
Class Period: March 1, 2019 - September 2, 2019
Lead Plaintiff Deadline: November 22, 2019
The complaint filed in this class action 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 several of the Company’s executive officers, including CEO Thomas Reeg, engaged in improper trading with respect to the securities of another publicly-traded company; and (2) that as a result, Defendants’ statements about Eldorado’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Sundial Growers Inc. (NASDAQ: SNDL)
Class Period: pursuant and/or traceable to August 2019 initial public offering
Lead Plaintiff Deadline: November 25, 2019
The complaint filed in this class action alleges that 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 Sundial failed to supply saleable cannabis in line with contractual obligations to Zenabis Global Inc.; (2) that due to material quality issues, Zenabis had to return or reject a total of 554 kg of cannabis to Sundial, valued at approximately U.S. $1.9 million (C$2.5 million); and (3) that as a result, defendants' statements about Sundial's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com