LOS ANGELES, May 01, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that class action lawsuits have been filed on behalf of the following publicly traded companies. Shareholders interested in taking an active role in these cases have until May 5, 2020 to petition the court. There is no cost or obligation to you.
TLRY investors click here.
WWE investors click here.
PharmaCielo investors click here.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or via www.portnoylaw.com.
Tilray Inc., the lawsuit alleges that during the class period, January 15, 2019 through March 2, 2020, Tilray made materially false and/or misleading statements and/or failed to disclose that: (i) the purported advantages of the marketing and revenue sharing agreement with Authentic Brands Group (the "ABG Agreement") were significantly overstated; (ii) the under performance of the ABG Agreement would foreseeably have a significant impact on the Company's financial results; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
World Wrestling Entertainment, Inc., the lawsuit alleges that during the class period, February 7, 2019 through February 5, 2020, the company misled investors about the viability and long term prospects of the company’s Saudia Arabia operations. Specifically, the company failed to disclose that WWE was experiencing rising tension with the Saudi government and a breakdown in negotiations over a renewed broadcasting distribution deal; that the Saudi government and its affiliates had failed to make millions of dollars in payments owed to WWE pursuant to existing contractual commitments between the parties; and that the Saudi broadcasting network had terminated the broadcast of WWE programming in the first quarter of 2019, despite a contractual obligation to continue such broadcasts.
PharmaCielo, Ltd., the lawsuit alleges that during the class period, June 21, 2019 and March 2, 2020, the company misled investors that: (i) PharmaCielo engaged in undisclosed related party transactions with General Extract LLC (“General Extract”); (ii) PharmaCielo engaged in misleading transactions and loans with General Extract; (iii) PharmaCielo had significantly overstated the efficacy and competitiveness of the Company’s business and operations in South America, including Peru and Colombia; (iv) PharmaCielo’s Research Technology and Processing Centre was never on-schedule and is delayed; (v) the Rionegro facility is located on a floodplain and contaminated with mold and pesticides from its previous tenants; (vi) PharmaCielo’s Cauca Department land has never been utilized by the Company and is idle; and (vii) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
The Portnoy Law Firm represents investors on a contingency basis in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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