CEDARHURST, N.Y., Feb. 12, 2019 (GLOBE NEWSWIRE) -- The securities litigation law firm of Kuznicki Law PLLC issues
the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in
these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff
and a preliminary estimate of their recoverable losses.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by
the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a
settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from
investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff
and counsel chosen by the lead plaintiff. No classes have yet been certified in the actions below. Appointment as lead plaintiff is
not required to partake in any recovery.
Sogou Inc. (NYSE: SOGO)
Investors Affected: Purchasers of American Depositary Shares pursuant and/or traceable to Sogou's false and misleading
Registration Statement and Prospectus issued in connection with the Company's initial public offering on November 9,
2017
A class action has commenced on behalf of certain shareholders in Sogou Inc. The filed complaint alleges that defendants made
materially false and/or misleading statements and/or failed to disclose that: (i) Chinese regulators were analyzing Sogou for
regulatory action because of an increase in Sogou merchants’ sales of counterfeit goods; (ii) Chinese regulators were analyzing
Sogou for regulatory action because Sogou’s existing software, advertising procedures, personnel, and audit procedures were
insufficient to safeguard against compliance violations with governing Chinese regulations, and would need to be updated, enhanced,
and strengthened, thus resulting in increased expenses; (iii) Sogou’s cost of revenues were skyrocketing primarily because of
significant increases in Traffic Acquisition Cost, which is a primary driver of Sogou’s cost of revenues, as Sogou was dealing with
significant price inflation from increased competition; (iv) Sogou was going to alter its strategy concerning smart hardware and
push the Company’s AI capabilities to increase product competitiveness; (v) as a result of altering its smart hardware strategy,
Sogou had already decided to phase out non-AI-enabled hardware products, such as legacy models of Teemo Smart Watch, and transition
to use products integrating AI technologies, which Sogou hoped would reduce its hardware revenue in the second half of 2018; and
(vi) as a result of the foregoing, Sogou’s public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://kseclaw.com/securities/sogou-inc/?wire=3
Immunomedics, Inc. (NASDAQ: IMMU)
Investors Affected: February 8, 2018 - January 18, 2019
A class action has commenced on behalf of certain shareholders in Immunomedics, Inc. The filed complaint alleges that defendants
made materially false and/or misleading statements and/or failed to disclose that: (i) Immunomedics’ Morris Plains, New Jersey drug
substance manufacturing facility was not in compliance with FDA requirements; (ii) the Company’s Quality Control Unit did not
possess the authority to investigate and correct critical FDA violations occurring at the Morris Plains, New Jersey facility; (iii)
the Company suffered a February 2018 data integrity breach at the Morris Plains, New Jersey facility which, among other issues,
included the backdating records and manipulation of bioburden samples; (iv) the Company’s Chemistry, Manufacturing and Control data
submitted in connection with its BLA for sacituzumab govitecan was insufficient to support FDA approval; and (v) as a result, the
Company’s public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://kseclaw.com/securities/immunomedics-inc/?wire=3
Allergan plc (NYSE: AGN)
Investors Affected: February 24, 2017 - December 19, 2018
A class action has commenced on behalf of certain shareholders in Allergan plc. The filed complaint alleges that defendants made
materially false and/or misleading statements and/or failed to disclose that: (i) textured breast implants manufactured by Allergan
were linked to ALCL; (ii) the foregoing link to cancer, when revealed, would foreseeably force Allergan to recall those textured
breast implants from the market; and (iii) as a result, the Company’s public statements were materially false and misleading at all
relevant times.
Shareholders may find more information at https://kseclaw.com/securities/allergan-plc/?wire=3
Wayfair Inc. (NYSE: W)
Investors Affected: Class A shares between August 2, 2018 and October 31, 2018
A class action has commenced on behalf of certain shareholders in Wayfair Inc. The filed complaint alleges that defendants made
materially false and/or misleading statements and/or failed to disclose that: (1) Wayfair had been experiencing significantly
diminished demand for its online product offerings and had significantly increased advertising spending to grow sales; (2) Wayfair,
which was already more than one-third of the way into 3Q18 when it announced its 2Q18 results on August 2, 2018, had already
dramatically increased advertising spending for 3Q18; 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.
Shareholders may find more information at https://kseclaw.com/securities/wayfair-inc/?wire=3
Kuznicki Law PLLC is committed to ensuring that companies adhere to responsible business practices and engage in
good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading
statements or the omission of material information by a Company lead to artificial inflation of the Company's stock.
CONTACT:
Kuznicki Law PLLC
Daniel Kuznicki, Esq.
445 Central Avenue, Suite 334
Cedarhurst, NY 11516
Email: dk@kclasslaw.com
Phone: (347) 696-1134
Cell: (347) 690-0692
Fax: (347) 348-0967
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