NEW YORK, Aug. 03, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Kingstone Companies, Inc., Zuora, Inc., Pivotal Software, Inc., and Eros International 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.
Kingstone Companies (NASDAQ: KINS)
Class Period: March 14, 2018 to April 29, 2019
Lead Plaintiff Deadline: August 12, 2019
The complaint, filed on June 12, 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 did not adequately follow industry best practices related to claims handling; (2) that, as a result, the Company did not record sufficient claims reserves; (3) that the Company lacked adequate internal control over financial reporting; 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.
For more information on the Kingstone class action go to: https://bespc.com/KINS-2
Zuora, Inc. (NYSE: ZUO)
Class Period: April 12, 2018 to May 30, 2019
Lead Plaintiff Deadline: August 13, 2019
The complaint, filed on June 14, 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 would focus on implementing RevPro for new customers ahead of the deadline to comply with accounting standard ASC 606; (2) that, as a result, the Company lacked adequate resources to integrate RevPro with the core business; (3) that the Company would focus on RevPro integration a year after the acquisition closed; (4) that delays in integrating RevPro would materially impact the business; (5) that the market for RevPro was limited to customers seeking to implement new accounting standards such as ASC 606; (6) that, after the deadline for ASC 606 compliance passed, demand for RevPro was reasonably likely to decline; and (7) 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.
To learn more about the Zuora class action go to: https://bespc.com/ZUO
Pivotal Software, Inc. (NYSE: PVTL)
Class Period: Securities pursuant or traceable to Pivotal’s April 2018 initial public offering (“IPO”) and/or securities purchased or acquired between April 24, 2019 and June 4, 2019 (the “Class Period”).
Lead Plaintiff Deadline: August 19, 2019
The complaint, filed on June 21, 2019, alleges that throughout the Class Period defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (i) Pivotal was facing major problems with its sales execution and a complex technology landscape; (ii) the foregoing headwinds resulted in deferred sales, lengthening sales cycles, and diminished growth as its customers and the industry's sentiment shifted away from Pivotal's principal products because the Company's products were outdated, inadequate, and incompatible with the industry-standard platform; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times. On June 4, 2019, post-market, Pivotal reported its financial and operating results for the first quarter of fiscal year 2020, advising investors that "sales execution and a complex technology landscape impacted the quarter." Wedbush Securities analyst Daniel Ives called the quarter a "train wreck" and characterized the Company's operating results as "disastrous," asserting that Pivotal's "management team does not have a handle on the underlying issues negatively impacting its sales cycles and the activity in the field which gives us concern that this quarter will be the start of some 'dark days ahead' for Pivotal (and its investors)." On this news, Pivotal's stock price fell $7.60.
To learn more about the Pivotal Software class action go to: https://bespc.com/PVTL-2
Eros International Plc (NYSE: EROS)
Class Period: July 28, 2017 to June 5, 2019
Lead Plaintiff Deadline: August 20, 2019
The complaint, filed on June 21, 2019, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Eros and its executives engaged in a scheme to use related-party transactions to fabricate receivables that they reported in Eros’s public financial disclosures; (2) because of this scheme, Eros’s financial position was weaker than what the Company disclosed; (3) consequently, the Company’s Indian subsidiary, Eros International Media Ltd, missed loan payments and had its credit downgraded; and (4) due to the foregoing, defendants’ statements about Eros’s receivables, 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.
To learn more about the Eros class action go to: https://bespc.com/eros-2
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