NEW YORK, Aug. 14, 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.
Sunlands Technology Group (NYSE: STG)
Class Period: shareholders of Sunlands Technology Group who purchased shares pursuant and/or traceable to Sunlands’ March 2018 initial public stock offering.
Lead Plaintiff Deadline: August 26, 2019
Join the action: https://www.zlk.com/pslra-1/sunlands-technology-group-loss-form?wire=3
The lawsuit alleges: Sunlands Technology Group made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) Sunlands’ student enrollment was declining; (2) Sunlands’ gross billings were declining; (3) Sunlands' marketing tactics were not as robust as described in the Registration Statement; and (4) as a result, Defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
To learn more about the Sunlands Technology Group class action contact jlevi@levikorsinsky.com.
Netflix, Inc. (NASDAQGS: NFLX)
Class Period: April 17, 2019 - July 17, 2019
Lead Plaintiff Deadline: September 20, 2019
Join the action: https://www.zlk.com/pslra-1/netflix-inc-loss-form?wire=3
The lawsuit alleges that, during the class period, Netflix, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Netflix would not be able to gain its expected target number of new subscribers in the second quarter of 2019; (2) Netflix would also lose subscribers from the United States in the second quarter of 2019; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
To learn more about the Netflix, Inc. class action contact jlevi@levikorsinsky.com.
L Brands, Inc. (NYSE: LB)
Class Period: May 31, 2018 - November 19, 2018
Lead Plaintiff Deadline: September 23, 2019
Join the action: https://www.zlk.com/pslra-1/l-brands-inc-loss-form?wire=3
The lawsuit alleges: L Brands, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) the Victoria’s Secret and PINK businesses were having a material adverse effect on the Company’s cash flow, liquidity and debt levels; (b) Defendants lacked a reasonable basis for their positive statements about the ability of the Company to sustain its dividend; (c) the MD&A disclosures in filings L Brands made with the SEC were materially false and misleading; (d) the risk factor disclosures in filings L Brands made with the SEC were materially false and misleading; (e) the representations about L Brands’ disclosure controls in filings the Company made with the SEC were materially false and misleading; (f) the certifications issued by Defendants Wexner and Burgdoerfer on L Brands disclosure controls were materially false and misleading; and (g) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about L Brands’ then-current business operations and future financial prospects.
To learn more about the L Brands, Inc. class action contact jlevi@levikorsinsky.com.
2U, Inc. (NASDAQGS: TWOU)
Class Period: February 26, 2018 - July 30, 2019
Lead Plaintiff Deadline: October 7, 2019
Join the action: https://www.zlk.com/pslra-1/2u-inc-loss-form?wire=3
The lawsuit alleges: 2U, Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (a) 2U’s business model was fundamentally flawed because the Company’s costs were growing disproportionately as it grew in size and complexity; (b) 2U could not take advantage of the promised economies of scale because its costs to attract each marginal student were actually increasing, not decreasing, as represented; (c) 2U was facing heightened competitive headwinds as alternative offerings flooded the marketplace and universities developed online courses in-house; (d) 2U’s growth rate in student enrollment was decelerating and was poised to decline as the Company reached market saturation; (e) 2U’s growth strategy was unsustainable, as the Company faced accelerating costs and had insufficient capital to achieve positive cash flows, improve margins or continue its revenue growth; and (f) as a result of (a)-(e), above, Defendants lacked any reasonable basis to issue 2U’s projections and financial forecasts.
To learn more about the 2U, Inc. 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
