NEW YORK, June 14, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Equity Bancshares, Inc., Revlon, Inc., AAC Holdings, Inc., and Jumia Technologies AG. Stockholders have until the deadlines listed below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Equity Bancshares, Inc. (NASDAQ: EQBK)
Class Period: May 11, 2018 - April 22, 2019
Lead Plaintiff Deadline: July 12, 2019
The complaint alleges that throughout the Class Period, defendants failed to disclose to investors that: (1) the company lacked adequate internal controls to assess credit risk; (2) as a result, certain of the company’s loans posed an increased risk of loss; (3) as a result, the company was reasonably likely to incur significant losses for certain substandard loans; and (4) 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.
To learn more about the Equity class action, go to: http://bespc.com/eqbk/.
Revlon, Inc. (NYSE: REV)
Class Period: March 12, 2015 - March 28, 2019
Lead Plaintiff Deadline: July 15, 2019
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Revlon failed to create measures to monitor its enterprise resource planning (“ERP”) system appropriately once implemented; (2) Revlon failed to design, implement and consistently operate effective process-level controls to ensure that it appropriately (a) recorded and accounted for inventory, accounts receivable, net sales and cost of goods sold, (b) reconciled balance sheet accounts, (c) reviewed and approved the complete population of manual journal entries, and (d) used complete and accurate information in performing manual control, which constituted a material weakness in its internal controls over financial reporting; (3) as a result of the poor preparation and planning of the implementation of the ERP system, Revlon was unable to fulfill product shipments of approximately $64 million of net sales and the company incurred $53.6 million of incremental charges to remediate the decline in customer services levels; and (4) as a result, defendants’ statements about Revlon’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
To learn more about the Revlon class action, go to: http://bespc.com/rev/.
AAC Holdings, Inc. (NYSE: AAC)
Class Period: March 8, 2017 and April 15, 2019
Lead Plaintiff Deadline: July 15, 2019
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the company’s business, operational and compliance policies. Specifically, the complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) AAC’s internal control over financial reporting and disclosure controls and procedures was inadequate to accurately reflect adjustments related to estimates for accounts receivable, provision for doubtful accounts, and revenue; (2) AAC consequently misstated financial and operating results in its annual reports for fiscal years 2016 and 2017, as well as all quarterly reports throughout 2017 and 2018; (3) accordingly, those reports could not be relied upon, requiring AAC to restate the financial and operating results reflected therein; and (4) as a result, the company’s public statements were materially false and misleading at all relevant times.
To learn more about the AAC class action, go to: http://bespc.com/aac/.
Jumia Technologies AG (NYSE: JMIA)
Class Period: April 12, 2019 - May 9, 2019
Lead Plaintiff Deadline: July 15, 2019
The complaint alleges that throughout the Class Period, defendants made materially false and misleading statements about Jumia and its business. These statements are alleged to be materially false and misleading because they failed to disclose that: (1) Jumia had materially overstated its active customers and active merchants; (2) Jumia’s representations about its orders, order cancellations, undelivered orders and returned orders lacked a sufficient factual basis and materially overstated the company’s sales; (3) Jumia failed to sufficiently disclose related party transactions; and (4) Jumia’s financial statements were presented in violation of applicable accounting standards.
To learn more about the Jumia class action, go to: http://bespc.com/jmia/.
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