NEW YORK, Jan. 16, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating certain officers and directors of Sealed Air Corporation (NYSE: SEE), iRobot Corporation (NASDAQ: IRBT), Zendesk, Inc. (NYSE: ZEN), and Uniti Group (NASDAQ: UNIT) on behalf of long-term stockholders. More information about each potential case can be found at the link provided.
Sealed Air Corporation (NYSE: SEE)
Bragar Eagel and Squire is investigating certain officers and directors of Sealed Air Corporation following a class action complaint that was filed against Sealed Air on November 1, 2019.
The complaint alleges that throughout the class period, defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated the price of Sealed Air common stock and operated as a fraud or deceit on purchasers of Sealed Air common stock. When the truth about Sealed Air’s misconduct was revealed over time, the value of the Company’s stock declined precipitously as the prior artificial inflation no longer propped up the stock’s price. The decline in the price of Sealed Air stock was the direct result of the nature and extent of defendants’ fraud finally being revealed to investors and the market. The timing and magnitude of the share price decline negate any inference that the losses suffered by plaintiff and other members of the Class were caused by changed market conditions, macroeconomic or industry factors, or Company-specific facts unrelated to the defendants’ fraudulent conduct. The economic loss, i.e., damages, suffered by plaintiff and other Class members was a direct result of defendants’ fraudulent scheme to artificially inflate the price of the Company’s stock and the subsequent significant decline in the value of the Company’s stock when defendants’ prior misrepresentations and other fraudulent conduct were revealed.
For more information on our investigation into Sealed Air go to: https://bespc.com/see
iRobot Corporation (NASDAQ: IRBT)
Bragar Eagel and Squire is investigating certain officers and directors of iRobot Corporation following a class action complaint that was filed against iRobot on October 24, 2019.
The complaint alleges that throughout the class period defendants made false and/or misleading statements and/or failed to disclose that: (1) iRobot’s explosive growth was not based on increased demand, expanding margins, and product innovations, as it claimed, but rather based on channel stuffing; (2) the Company attempted to conceal its actions by acquiring its distributors in Europe and Asia; (3) these acquisitions were designed to clean up the Company’s global inventory and mask falling demand; and (4) as a result, iRobot’s public statements were materially false and misleading at all relevant times.
For more information on our investigation into iRobot, go to: https://bespc.com/irbt
Zendesk, Inc. (NYSE: ZEN)
Bragar Eagel and Squire is investigating certain officers and directors of Zendesk, Inc. following a class action complaint that was filed against Zendesk on October 24, 2019.
The complaint alleges that throughout the class period, defendants made materially false and misleading statements to investors and failed to disclose adverse facts pertaining to the Company’s business, operations, and financial results. Specifically, the Company concealed material information and/or failed to disclose that: (a) Zendesk’s clients had been subject to data breaches dating back to 2016; (b) Zendesk was experiencing slowing demand for its SaaS offerings, particularly in Germany, the United Kingdom, and Australia, due in large part to political uncertainty and China trade issues there; and (c) as a result of the foregoing, Zendesk’s business metrics and financial prospects were not as strong as defendants had led the market to believe during the Class Period. As a result of this information being withheld from the market, the price of Zendesk stock was artificially inflated to more than $93 per share during the Class Period. While Zendesk common stock was trading at these artificially inflated prices, certain of the Company’s officers and/or directors cashed in, selling approximately 409,000 of their personally held Zendesk shares, reaping more than $32.7 million in proceeds.
For more information on our investigation into Zendesk go to: https://bespc.com/zen
Uniti Group, Inc. (NASDAQ: UNIT)
Bragar Eagel and Squire is investigating certain officers and directors of Uniti Group, Inc. following a class action complaint that was filed against Uniti Group on October 25, 2019.
The complaint alleges that throughout the class period defendants made false and/or misleading statements and/or failed to disclose that: (1) Uniti’s financial results were not sustainable because its customer Windstream had defaulted on its unsecured notes; (2) as a result of the foregoing, defendants’ statements about Uniti’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on our investigation into Uniti Group go to: https://bespc.com/unit
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.
(212) 355-4648
investigations@bespc.com
www.bespc.com
