NEW YORK, July 17, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Verb Technology Company, Inc., CannTrust Holdings, Inc., Realogy Holdings Corp., and Reckitt Benckiser Group plc. 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.
Verb Technology Company, Inc. (NASDAQ: VERB)
Lead Plaintiff Deadline: September 9, 2019
Class Period: January 3, 2018 to May 2, 2018
The complaint filed on July 9, 2019 alleges that during the Class Period, Verb stock increased from approximately $0.12 per share on January 3, 2018 to $2.70 per share on April 19, 2018, an astonishing increase of over 2000%.
Following the rapid rise of the Company’s stock price, on April 23, 2018, the truth as to the Company’s relationship with Oracle began to emerge. The Company revealed the actual terms of the Oracle Agreement through the filing of a Form 8-K. The terms of the agreement revealed that the prior representations as to the scope of the relationship with Oracle were materially misleading.
As the market digested the true nature of the Oracle Agreement, the stock began a precipitous decline, closing on April 30, 2018 at $1.54 per share, a decrease of 43% from the high a week prior. The market continued to digest this information and by the market close on May 2, 2018, the Company’s stock was trading at $1.08 per share, a decrease of 64% from the high price of $3.04 per share on April 20th.
For more information on the Verb Technology class action go to: https://bespc.com/verb
CannTrust Holdings, Inc. (NYSE: CTST)
Lead Plaintiff Deadline: September 9, 2019
Class Period: November 14, 2018 to July 5, 2019
The complaint filed on July 10, 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 was growing cannabis in its Pelham greenhouse while applications for regulatory approval were still pending; (2) that the Company’s Pelham greenhouse did not comply with certain regulations; (3) that, as a result, the Company was reasonably likely to face an inventory hold by Health Canada until the Pelham facility becomes compliant with applicable regulations; (4) that, as a result, the Company’s customers would face shortages and would likely seek product from CannTrust’s competitors; 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 CannTrust class action go to: https://bespc.com/ctst
Realogy Holdings Corp. (NYSE: RLGY)
Lead Plaintiff Deadline: September 9, 2019
Class Period: February 24, 2019 to May 22, 2019
The complaint filed on July 11, 2019 alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Realogy was engaged in anticompetitive behavior by requiring property sellers to pay the commissions of a buyer’s broker at an inflated rate; (2) Realogy’s anticompetitive actions would prompt the U.S. Department of Justice to open an antitrust investigation into the real estate industry’s practices regarding brokers’ commissions; and (3) as a result, defendants’ statements about the Realogy’s business, operations and prospects were materially false and 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.
For more information on the Realogy class action go to: https://bespc.com/rlgy
Reckitt Benckiser Group Plc (Other OTC: RBGLY)
Lead Plaintiff Deadline: September 13, 2019
Class Period: July 14, 2014 to April 9, 2019
The complaint charges Reckitt and certain of its current and former officers and directors with violations of the Securities Exchange Act of 1934. As a result of defendants' false and misleading statements and/or omissions regarding the scheme to inflate sales of Suboxone Film during the Class Period, Reckitt ADSs traded at artificially inflated prices. The truth began to emerge on July 24, 2017, when the Company announced, in connection with its second quarter 2017 financial results, that it had recorded a 318 million charge related to ongoing U.S. Department of Justice and U.S. Federal Trade Commission investigations into its former Reckitt Pharma operations. On this news, the price of Reckitt ADSs dropped 5%.
Then, on February 19, 2018, Reckitt announced, in connection with its full year 2017 financial results, that it had recorded an exceptional charge of 296 million due to the investigations, and that the investigations now also involved the California Department of Insurance. On this news, the price of Reckitt ADSs declined more than 10%.
Finally, on April 9, 2019, the DOJ filed a criminal indictment against Reckitt Pharma (now known as Indivior), which detailed a multi-billion-dollar scheme to defraud the public and the Company's investors through the marketing and sale of Suboxone Film. On this news, the price of Reckitt ADSs again declined over 6%. Ultimately, Reckitt agreed to settle the federal investigations into its marketing and sale of Suboxone Film for $1.4 billion. At the time, the settlement was called the "largest opioid settlement in US history."
For more information on the Reckitt Benckiser class actin go to: https://bespc.com/rbgly
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