LOS ANGELES, April 26, 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.
Norfolk Southern Corporation (NYSE: NSC)
Class Period: October 28, 2020 – March 3, 2023
Lead Plaintiff Deadline: May 15, 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) Norfolk Southern’s Precision Scheduled Railroading (“PSR”), including its use of longer, heavier trains staffed by fewer personnel, had led to Norfolk Southern suffering increased train derailments and a materially increased risk of future derailments; (2) Norfolk Southern’s PSR was part of a culture of increased risk-taking at the expense of reasonable safety precautions due to Norfolk Southern’s near-term focus solely on profits; (3) Norfolk Southern’s PSR rendered Norfolk Southern more vulnerable to train derailments and train derailments with potentially more severe human, financial, legal, and environmental consequences; (4) Norfolk Southern’s capital spending and replacement programs were designed to prioritize profits over Norfolk Southern’s ability to provide safe, efficient, and reliable rail transportation services; (5) Norfolk Southern’s lobbying efforts had undermined Norfolk Southern’s ability to provide safe, efficient, and reliable rail transportation services; (6) Norfolk Southern’s commitment to reducing operating expenses as part of its PSR goals undermined worker safety and Norfolk Southern’s purported commitment to an injury-free workplace because Norfolk Southern’s PSR plan prioritized reducing expenses through fewer personnel, longer trains, and less spending on safety training, technology, and equipment such as hot bearing wayside detectors (a/k/a hotboxes) and acoustic sensors; (7) Norfolk Southern’s rail services were, as a result of its adoption of PSR principles, more susceptible to accidents that could cause serious economic and bodily harm to Norfolk Southern, its workers, its customers, third parties, and the environment; (8) Norfolk Southern had failed to put in place responsive practices and procedures to minimize the threat to communities in the event that these communities suffered the derailment of a Norfolk Southern train carrying hazardous and toxic materials; and (9) 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 Norfolk Southern shareholder who suffered a loss, click here to participate.
United Natural Foods, Inc. (NYSE: UNFI)
Class Period: March 10, 2021 – March 7, 2023
Lead Plaintiff Deadline: May 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: (1) that, despite its cost saving Value Path initiative, United Natural Foods had not invested in improving its data management and related infrastructure; (2) that, as a result, the Company could not respond adequately to cost changes, such as inflationary pressure; (3) that, as a result, the Company could not appreciate the benefits of procurement gains and inventory gains achieved during fiscal 2022; (4) that, as a result of the foregoing, the Company’s profitability would be materially adversely impacted; and (5) and that as a result of the foregoing, Defendant’s positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you are a United Natural Foods shareholder who suffered a loss, click here to participate.
Tupperware Brands Corporation (NYSE: TUP)
Class Period: March 10, 2021 – March 16, 2023
Lead Plaintiff Deadline: May 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) Tupperware did not disclose its serious issues with internal controls; (2) Tupperware’s financial statements, from its 2020 Annual Report to the present, included misstatements, particularly as it related to the Company’s accounting for income taxes; (3) as a result, Tupperware would need to restate its previously filed financial statements for certain periods; 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 Tupperware shareholder who suffered a loss, click here to participate.
Stanley Black & Decker, Inc. (NYSE: SWK)
Class Period: October 28, 2021 – July 28, 2022
Lead Plaintiff Deadline: May 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 failed to disclose to investors that: (1) rising interest rates, inflation, and trends in returning to work away from home were in fact quickly eroding then-heightened demand for Stanley’s tools and outdoor products; (2) the heightened, extraordinary demand Stanley had enjoyed as a result of the COVID-19 pandemic in 2021 into 2022 was returning to 2019 pre-pandemic levels; (3) Stanley’s operations were already showing signs of slowing demand; (4) as a result of reorganization, share repurchasing, and dividend growth, Stanley lacked the cash to react with agility to changes in demand; and (5) as a result of Stanley’s inability to react to a sharp decline in demand, the Company’s results and metrics, particularly sales volume, were severely negatively impacted; 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 Stanley 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.
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Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
