LOS ANGELES, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The Law Offices of Frank R. Cruz 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 Frank R. Cruz to discuss their legal rights in these class actions at 310-914-5007 or by email to fcruz@frankcruzlaw.com.
Shift4 Payments, Inc. (NYSE: FOUR)
Class Period: November 10, 2021 – April 18, 2023
Lead Plaintiff Deadline: October 19, 2023
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 that: (1) Shift4 had inadequate disclosure controls and procedures and internal control over financial reporting; (2) as a result, Shift4 failed to properly account for customer acquisition costs, thereby artificially inflating its net cash provided by operating activities; (3) accordingly, Shift4 would likely be forced to restate one or more of its previously issued financial statements; (4) Shift4 employed accounting maneuvers in connection with, among other things, its mass strategic buyout program and sponsor bank merchant settlement account, that were designed to present an inaccurate picture of, inter alia, the Company’s performance, its underlying business quality, and its earnings power; (5) all the foregoing, once revealed, was likely to negatively impact Shift4’s reputation and business; and (6) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you are a Shift4 Payments shareholder who suffered a loss, click here to participate.
Comerica Incorporated (NYSE: CMA)
Class Period: February 9, 2021 – May 29, 2023
Lead Plaintiff Deadline: October 20, 2023
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 that: (1) Comerica failed to provide meaningful oversight over the vendors to whom it contracted out day-to-day operations of the Direct Express program, a system through which it is contracted to provide federal benefits on debit cards to millions of Americans without bank accounts; (2) as a result of violations in the day-to-day operations of Direct Express, including handling fraud disputes and allowing sensitive data to be handled out of a vendor’s office in Pakistan, Comerica was not in compliance with the Federal Contract, and knew it was not in compliance; (3) Comerica knew and failed to disclose that it was in potential violation of Regulation E due to inadequate fraud prevention in the Direct Express program and responses to instances of fraud, 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.
If you are a Comerica shareholder who suffered a loss, click here to participate.
Masimo Corporation (NASDAQ: MASI)
Class Period: February 28, 2023 – July 17, 2023
Lead Plaintiff Deadline: October 23, 2023
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: (1) misled investors by creating the false impression that they possessed reliable information pertaining to the Company’s sales pipeline; (2) failed to adequately account for potential loss of sensor sales among Masimo’s customers, as well as the potential decline in demand for premium and luxury audio categories; (3) deliberately ignored the decline in sales; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you are a Masimo shareholder who suffered a loss, click here to participate.
Hawaiian Electric Industries, Inc. (NYSE: HE)
Class Period: February 28, 2019 – August 16, 2023
Lead Plaintiff Deadline: October 23, 2023
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: (1) misled investors by creating the false impression that they possessed reliable information pertaining to the Company’s sales pipeline; (2) failed to adequately account for potential loss of sensor sales among Masimo’s customers, as well as the potential decline in demand for premium and luxury audio categories; (3) deliberately ignored the decline in sales; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you are a Hawaiian Electric shareholder who suffered a loss, click here to participate.
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To be a member of these class actions, 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
