BENSALEM, Pa., Nov. 15, 2019 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
Eldorado Resorts, Inc. (NASDAQ: ERI)
Class Period: March 1, 2019 - September 2, 2019
Lead Plaintiff Deadline: November 22, 2019
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that several of the Company’s executive officers, including CEO Thomas Reeg, engaged in improper trading with respect to the securities of another publicly-traded company; and (2) that as a result, Defendants’ statements about Eldorado’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Sundial Growers Inc. (NASDAQ: SNDL)
Class Period: pursuant and/or traceable to August 2019 initial public offering
Lead Plaintiff Deadline: November 25, 2019
The complaint filed in this class action alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Sundial failed to supply saleable cannabis in line with contractual obligations to Zenabis Global Inc.; (2) that due to material quality issues, Zenabis had to return or reject a total of 554 kg of cannabis to Sundial, valued at approximately U.S. $1.9 million (C$2.5 million); and (3) that as a result, defendants’ statements about Sundial’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Dropbox Inc. (NASDAQ: DBX)
Class Period: Pursuant and/or traceable to March 2018 initial public offering
Lead Plaintiff Deadline: December 3, 2019
The complaint filed in this class action alleges that Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Dropbox had materially overstated its ability to monetize its user base; (2) that Dropbox was facing worsening revenue trends, which were negatively impacting the Company at the time of the IPO; (3) that Dropbox was tracking below its internal revenue and monetization targets at the time of the IPO; and (4) that as a result, defendants’ statements about Dropbox’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Infosys Limited (NYSE: INFY)
Class Period: July 7, 2018 – October 20, 2019
Lead Plaintiff Deadline: December 23, 2019
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company improperly recognized revenues to inflate short-term profits; (2) that the Company’s CEO, Salil Parekh, bypassed reviews and approvals for large deals to avoid accounting scrutiny; (3) that management pressured the Company’s finance team to hide information from auditors and the Company’s Board of Directors; and (4) that, 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.
To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
