NEW YORK, June 27, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided. There is no cost or obligation to you.
A.O. Smith Corporation (NYSE: AOS)
Class Period: July 26, 2016 - May 16, 2019
Lead Plaintiff Deadline: July 29, 2019
Join the action: https://www.zlk.com/pslra-1/a-o-smith-corporation-loss-form?wire=3
Allegations: A. O. Smith Corporation made materially false and/or misleading statements and/or failed to disclose that: (a) A.O. Smith had undisclosed business connections and entanglements with UTP through which it funneled up to 75% of its China product sales; (b) A.O. Smith had used UTP to engage in channel stuffing by artificially inflating inventories purportedly sold through distributors that were not based on consumer demand, thereby approximately doubling the normal level of inventory at such distributors; (c) A.O. Smith had used its UTP relationship to artificially inflate the sales figures it reported to investors by as much as 8% and to conceal worsening sales trends that the Company was experiencing in China; (d) A.O. Smith’s sales growth had been primarily in lower margin products as its higher priced products were being undercut by competition in “second-tier” Chinese cities, causing the Company to experience significant margin pressures; (e) A.O. Smith had increased its cash reserves in China to over $530 million in furtherance of its channel stuffing and sales manipulation scheme, encumbering the Company’s ability to repatriate the cash or use it for capital expenditures; and (f) as a result of (a)-(e) above, A.O. Smith’s business, operations, and prospects were significantly worse than publicly represented and the Company was poised for sales and earnings declines in China, its most important international market.
To learn more about the A. O. Smith Corporation class action, contact jlevi@levikorsinsky.com.
Heron Therapeutics, Inc. (NASDAQ: HRTX)
Class Period: October 31, 2018 - April 30, 2019
Lead Plaintiff Deadline: August 5, 2019
Join the action: https://www.zlk.com/pslra-1/heron-therapeutics-inc-loss-form?wire=3
Allegations: During the class period, Heron Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Heron had failed to include adequate Chemistry, Manufacturing, and Controls (“CMC”) and non-clinical information in its NDA for HTX-011; (ii) the foregoing increased the likelihood that the FDA would not approve Heron’s NDA for HTX-011; and (iii) as a result, Heron’s public statements were materially false and misleading at all relevant times.
To learn more about the Heron Therapeutics, Inc. class action, contact jlevi@levikorsinsky.com.
Box, Inc. (NYSE: BOX)
Class Period: November 28, 2018 - June 3, 2019
Lead Plaintiff Deadline: August 5, 2019
Join the action: https://www.zlk.com/pslra-1/box-inc-loss-form?wire=3
Allegations: Box, Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) the Company was unable to close large deals within the quarter; (2) that, as a result, the Company’s revenue would be materially impacted; and (3) 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 Box, Inc. class action, contact jlevi@levikorsinsky.com.
FedEx Corporation (NYSE: FDX)
Class Period: September 19, 2017 - December 18, 2018
Lead Plaintiff Deadline: August 26, 2019
Join the action: https://www.zlk.com/pslra-1/fedex-corporation-loss-form?wire=3
Allegations: During the class period, FedEx Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) TNT’s overall package volume growth was slowing as TNT’s large customers permanently took their business to competitors after the Cyberattack; (2) as a result of the customer attrition, TNT was experiencing an increased shift in product mix from higher-margin parcel services to lower-margin freight services; (3) the anticipated costs and timeframe to integrate and restore the TNT network were significantly larger and longer than disclosed; (4) FedEx was not on track to achieve TNT synergy targets; and (5) as a result of these undisclosed negative trends and cost issues, FedEx’s positive statements about TNT’s recovery from the Cyberattack, integration into FedEx’s legacy operations, customer mix, customer service levels, profitability, and prospects lacked a reasonable basis.
To learn more about the FedEx Corporation class action, contact jlevi@levikorsinsky.com.
You have until the lead plaintiff deadlines to request the court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
