NEW YORK, Oct. 06, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating certain officers and directors of Pilgrim’s Pride Corporation (NASDAQ: PPC), Resideo Technologies, Inc. (NYSE: REZI), Spirit AeroSystems Holdings, Inc. (NYSE: SPR), and ViewRay, Inc. (NASDAQ: VRAY) on behalf of long-term stockholders. More information about each potential case can be found at the link provided.
Pilgrim’s Pride Corporation (NASDAQ: PPC)
Bragar Eagel & Squire is investigating certain officers and directors of Pilgrim’s Pride Corporation following a class action complaint that was filed against Pilgrim’s Pride on July 6, 2020.
The complaint alleges that throughout the Class Period the defendants made false and/or misleading statements and/or failed to disclose that: (1) Pilgrim’s Pride and its executives had participated in an illegal antitrust conspiracy to fix prices and rig bids from at least as early as 2012 and continuing through at least early 2017; (2) Pilgrim’s Pride received competitive advantages, which persisted during the Class Period, from its anticompetitive conduct; and (3) as a result, the defendants’ statements about the Pilgrim’s Pride’s business, operations, and prospects lacked a reasonable basis.
For more information on the Pilgrim’s Pride investigation go to: https://bespc.com/PPC
Resideo Technologies, Inc. (NYSE: REZI)
Bragar Eagel & Squire is investigating certain officers and directors of Resideo Technologies, Inc. following a class action complaint that was filed against Resideo on November 8, 2019.
The complaint, alleges that during the Class Period, Resideo continued to assure investors that the Company was poised to meet its 2018 guidance at the high end of its forecasted range, and more importantly, for 2019 the Company would achieve 4%+ organic growth and ~13% adjusted EBITDA margin. Further, while the Company acknowledged it had experienced operational disruptions (primarily administrative) in connection with the spin-off, defendants repeatedly assured investors that any negative effects of the spin-off were largely “behind [them]” or minimizing and reiterated their fiscal year (“FY”) 2019 guidance for the Company, stating as late as August 8, 2019 that the Company’s performance to date put it on track to make its FY19 revenue guidance. Each of these representations was materially false and misleading when made because defendants failed to disclose the following true facts, which were known to defendants or recklessly disregarded by them: (a) the negative operational effects of the spin-off were more substantial and persistent than disclosed and had negatively affected the Company’s product sales, supply chain, and gross margins, putting Resideo’s FY19 financial forecasts at risk; and (b) as a result of the foregoing, the Company’s financial guidance lacked a reasonable basis and the Company was not on track to make its FY19 guidance as claimed. As a result of defendants’ material misrepresentations and omissions, Resideo stock traded at artificially inflated prices of more than $26 per share during the Class Period.
For more information on the Resideo investigation go to: https://bespc.com/REZI
Spirit AeroSystems Holdings, Inc. (NYSE: SPR)
Bragar Eagel & Squire is investigating certain officers and directors of Spirit AeroSystems Holdings, Inc. following a class action complaint that was filed against Spirit on February 10, 2020.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company lacked effective internal controls over financial reporting; (2) the Company did not comply with its established accounting principles related to potential contingent liabilities; and (3) 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.
For more information on the Spirit AeroSystems investigation go to: https://bespc.com/SPR
ViewRay, Inc. (NASDAQ: VRAY)
Bragar Eagel & Squire is investigating certain officers and directors of ViewRay, Inc. following a class action complaint that was filed against ViewRay on September 13, 2019.
The complaint alleges that throughout the Class Period defendants issued materially false and misleading statements that failed to disclose adverse facts concerning the company’s business, operations and financial results. Specifically: (a) that demand for ViewRay systems had declined due in part to changes being made to Medicare reimbursement approaches first announced in November 2019 that could make purchases of new ViewRay systems less profitable for customers; (b) that the company’s reported backlog was overstated due to the inclusion of orders with insufficient surety as to permit for their inclusion in reported backlog; and (c) that as a result of the foregoing, defendants’ positive statements about ViewRay’s business metrics and financial prospects during the Class Period were materially false and misleading and/or lacked a reasonable basis.
To learn more about the ViewRay class action go to: https://bespc.com/VRAY
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(646) 860-9156
investigations@bespc.com
www.bespc.com