BENSALEM, Pa., June 09, 2020 (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.
Bed Bath & Beyond Inc. (NASDAQ: BBBY)
Class Period: October 2, 2019 - February 11, 2020
Lead Plaintiff Deadline: June 15, 2020
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose: (1) that, due to “aggressive disposition of inventory,” the Company lacked sufficient inventory in key categories to support holiday sales; (2) that the Company’s internal control over inventory levels and financial reporting was not effective; (3) that, as a result of the foregoing, the Company was likely to experience reduced sales; and (4) that, 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.
iQIYI, Inc. (NASDAQ: IQ)
Class Period: March 29, 2018 - April 7, 2020
Lead Plaintiff Deadline: June 15, 2020
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose: (1) iQIYI inflated its revenue figures; (2) iQIYI inflated its user numbers; (3) iQIYI inflated its expenses to cover up other fraud; and (4) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
GSX Techedu Inc. (NYSE: GSX)
Class Period: June 6, 2019 - April 13, 2020
Lead Plaintiff Deadline: June 16, 2020
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose: (i) that GSX overstated its profitability, revenue, student enrollment figures, teacher qualifications, and teacher selection process; (ii) that the foregoing, once revealed, was foreseeably likely to have a material negative impact on the Company’s financial results; and (iii) that as a result, the Company’s public statements were materially false and misleading at all relevant times.
Phoenix Tree Holdings Limited (NYSE: DNK)
IPO: January 22, 2020
Lead Plaintiff Deadline: June 26, 2020
The complaint alleges that the Registration Statement was false and/or misleading because it failed to disclose: (a) that Phoenix had received customer complaints and negative press regarding questionable business conduct before the IPO, including its widespread and notorious practice of deceptively inducing renters to procure loans whose proceeds financed the Company’s business and operations; (b) that competition in the residential rental market in China had suffered at the time of the IPO as the coronavirus ravaged the very locations where Phoenix primarily operated, including Wuhan; (c) that Phoenix’s technological capabilities were unable to enable the Company to overcome the complications and erosion of business resulting from the spread of the coronavirus throughout China at the time of the IPO; and (d) that, as a result of the foregoing, Phoenix was positioned no differently than its competitors in managing the fallout from customer complaints or adverse implications stemming from the coronavirus in China.
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.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
