BENSALEM, Pa., Jan. 17, 2020 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith 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 Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
Aurora Cannabis Inc. (NYSE: ACB)
Class Period: September 11, 2019 – November 14, 2019
Lead Plaintiff Deadline: January 21, 2020
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 Aurora’s revenue would decline in its first quarter of fiscal 2020 ended September 30, 2019; (2) that the Company would halt construction on its Aurora Nordic 2 and Aurora Sun facilities; and (3) that 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.
Prudential Financial, Inc. (NYSE: PRU)
Class Period: February 15, 2019 – August 2, 2019
Lead Plaintiff Deadline: January 27, 2020
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 the Company’s reserve assumptions failed to account for adversely developing mortality experience in its Individual Life business segment; (2) that the Company was not over-reserved, but instead, its reported reserves, particularly for the Individual Life business segment, were insufficient to satisfy its future policy benefits liabilities; and (3) that the Company had materially understated its liabilities and overstated net income as a result of flawed assumptions in calculating mortality experience.
Merit Medical Systems, Inc. (NASDAQ: MMSI)
Class Period: February 26, 2019 – October 30, 2019
Lead Plaintiff Deadline: February 3, 2020
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 the integrations of Cianna and Vascular Insights, including their products, sales people, and R&D facilities, had caused operational disruptions and reduced sales and were months behind schedule; (2) that sales of acquired company products had slowed substantially due to pre-acquisition pipeline fill, in particular for Vascular Insights products which, as late as July 2019, had zero orders during fiscal 2019; and (3) that in light of the foregoing, the Company's reported financial guidance for fiscal 2019 and 2020 was made without a reasonable basis.
Mohawk Industries, Inc. (NYSE: MHK)
Class Period: April 28, 2017 – July 25, 2019
Lead Plaintiff Deadline: March 3, 2020
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 the Company engaged in deceptive and unsustainable sales practices to mask declining customer demand for its Conventional Flooring products; (2) that Mohawk’s increasing inventories was not the result of increasing inflation or the Company’s backward integration, but instead the result of the Company deliberately stuffing the channels with Conventional Flooring Products to boost sales; and (3) that 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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com