LOS ANGELES, Aug. 11, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that class action lawsuits have been filed on behalf of investors in the following publicly traded companies. Shareholders interested in taking an active role in these cases have until the deadlines indicated below to petition the court. There is no cost or obligation to you. See below for more information on these cases.
Casper Sleep, Inc. investors (NYSE: CSPR); August 18, 2020 deadline, click here to join.
Endo International PLC investors (NASDAQ: ENDP); August 18, 2020 deadline, click here to join.
United States Oil Fund, LP investors (NYSE Arca: USO); August 18, 2020 deadline, click here to join.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone or text 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or via www.portnoylaw.com.
Casper Sleep, Inc. The complaint alleges that defendants throughout the Class Period made statements that were false and/or misleading and/or failed to disclose: (1) that Casper's profit margins were, in fact, declining, rather than growing; (2) that Casper was changing an important distribution partner, which cost the Company 130 basis points of gross margin during the first quarter of 2020 alone; (3) that Casper was holding a glut of old and outdated mattress inventory that it was selling at steeply discounted clearance prices, which further impaired the profitability of the Company; (4) that Casper was experiencing accelerating losses, which placed its ability to achieve profitability and positive cash flows out of reach; (5) that Casper's core operations were not profitable, in fact causing the Company to suffer over $40 million in negative cash flows during the first quarter of 2020 alone with its quarterly net loss doubling year after year; (6) that as a result of the foregoing, Casper's ability to achieve profitability, implement its growth initiatives, and expand internationally were misrepresented in the Offering Documents, as the Company needed to shutter its European operations, cease all international expansion, dispose of over one fifth of its global corporate workforce, and significantly curtail new store openings for the purpose of avoiding an imminent liquidity and cash crisis, let alone achieve positive operating cash flows; and (7) that as a result of the foregoing, Casper's revenue growth rate was not sustainable and had not positioned the Company to achieve profitability.
Endo International, plc The complaint alleges that throughout the Class Period, defendants made statements that were false and/or misleading and/or failed to disclose: (1) that the full scope of Endo's and/or that of its subsidiaries' contributions to the opioid crisis, including, but not limited to, their opioid products' disproportionately negative impact on New York, one of the most populous states in the U.S., as well as the fraud that was perpetrated by the Defendants on the New York insurance market; (2) that a portion of that contribution to the opioid crisis included Endo publishing and disseminating false information to health care providers in regard to the risks and benefits of opioids; (3) that the foregoing, once revealed, was foreseeably likely to subject Endo and/or its subsidiaries to increased regulatory scrutiny and enforcement, as well as significant financial and/or reputational harm, specifically with respect to New York; and (4) that, as a result, the public statements made by the Company were materially false and misleading at all relevant times.
United States Oil Fund, LP The complaint alleges that throughout the Class Period, defendants stated that USO would achieve its investment objective by investing substantially all of its portfolio assets in the near month WTI futures contract. However, unbeknownst to investors, USO's purported investment objective and strategy was not feasible due to market conditions in early 2020, including a "super contango" in which the futures prices for oil substantially exceeded the spot price because storage facilities approached capacity in Cushing, Oklahoma. Instead of revealing the known risks and impacts, USO held an offering of billions of dollars of USO shares in March 2020.
The Portnoy Law Firm represents investors on a contingency basis in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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