NEW YORK, NY / ACCESSWIRE / January 20, 2020 / 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.
Merit Medical Systems, Inc. (NASDAQ:MMSI)
MMSI Lawsuit on behalf of: investors who purchased February 26, 2019 - October 30, 2019
Lead Plaintiff Deadline: February 3, 2020
Join the action: https://www.zlk.com/pslra-1/merit-medical-systems-inc-loss-form?wire=3&prid=5305
About the MMSI lawsuit: Throughout the class period, Merit Medical Systems, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (a) the integrations of acquired companies Cianna Medical, Inc. and Vascular Insights, LLC, including their products, sales people, and R&D facilities, had caused operational disruptions and reduced sales and were months behind schedule; (b) sales of acquired company products had slowed substantially due to pre-acquisition pipeline fill, in particular for Vascular Insights products which, as late as July 2019, had zero orders during FY19; and (c) in light of the foregoing, the Company's reported financial guidance for FY19 and FY20 was made without a reasonable basis.
To learn more about the Merit Medical Systems, Inc. class action, contact jlevi@levikorsinsky.com.
HEXO Corp. (NYSE:HEXO)
HEXO Lawsuit on behalf of: investors who purchased January 25, 2019 - November 15, 2019
Lead Plaintiff Deadline: January 27, 2020
Join the action: https://www.zlk.com/pslra-1/hexo-corp-loss-form?wire=3&prid=5305
About the HEXO lawsuit: During the class period, HEXO Corp. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) HEXO's reported inventory was misstated as the Company was failing to write down or write off obsolete product that no longer had value; (2) HEXO was engaging in channel-stuffing in order to inflate its revenue figures and meet or exceed revenue guidance provided to investors; (3) HEXO was cultivating cannabis at its facility in Niagara, Ontario that was not appropriately licensed by Health Canada; and (4) 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 HEXO Corp. class action, contact jlevi@levikorsinsky.com.
Mohawk Industries, Inc. (NYSE:MHK)
MHK Lawsuit on behalf of: investors who purchased April 28, 2017 - July 25, 2019
Lead Plaintiff Deadline: March 3, 2020
Join the action: https://www.zlk.com/pslra-1/mohawk-industries-inc-loss-form?wire=3&prid=5305
The filed complaint alleges that, faced with slowing demand for its conventional flooring products, the Company engaged in a scheme to inflate its revenues and earnings by booking fictitious sales of those products. This practice is known as channel stuffing and was used by Mohawk to hide severely declining demand for conventional flooring products. Throughout the Class Period, Defendants made false and/or misleading statements about Mohawk's sales growth and the demand for the Company's conventional flooring products. Defendants also reassured investors about Mohawk's increasing accounts receivable and inventory levels by falsely attributing those increases to external factors like rising raw material costs and inflation. As a result of these misrepresentations, shares of Mohawk's common stock traded at artificially inflated prices during the Class Period.
To learn more about the Mohawk Industries, 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
SOURCE: Levi & Korsinsky, LLP
View source version on accesswire.com:
https://www.accesswire.com/573580/CLASS-ACTION-UPDATE-for-MMSI-HEXO-and-MHK-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders
