BENSALEM, Pa., Nov. 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 .
Tactile Systems Technology, Inc. (NASDAQ: TCMD )
Class Period: May 7, 2018 - June 8, 2020
Lead Plaintiff Deadline: November 30 , 2020
The complaint 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 while Tactile publicly touted a $4 plus billion or $5 plus billion market opportunity, in fact, the total addressable market for Tactile’s medical devices was materially smaller; (2) to induce sales growth and share gains, the Company and/or its employees were engaged in illicit and illegal sales and marketing activities in violation of applicable federal and state rules and public payer regulations; (3) the foregoing illicit and illegal sales and marketing activities increased the risk of a Medicare audit of the Tactile’s claims and criminal and civil liability; (4) Tactile’s profits were in part the product of unlawful conduct and thus unsustainable; and that as a result of the foregoing, (5) the Company’s public statements, including its year-over-year revenue growth and the purported growth drivers, were materially false and misleading at all relevant times; and (6) that, as a result of the foregoing, the Defendants’ statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Credit Acceptance Corporation (NASDAQ: CACC )
Class Period: November 1, 2019 - August 28, 2020
Lead Plaintiff Deadline: December 1 , 2020
The complaint filed 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 that: (1) Credit Acceptance was topping off the pools of loans that they packaged and securitized with higher-risk loans; (2) Credit Acceptance was making high interest subprime auto loans to borrowers that the Company knew borrowers would be unable to repay; (3) that the borrowers were subject to hidden finance charges, resulting in loans exceeding the usury rate ceiling mandated by state law; (4) Credit Acceptance took excessive and illegal measures to collect debt from defaulted borrowers; (5) that, as a result, Credit Acceptance was likely to face regulatory scrutiny and possible penalties from various regulators or lawsuits; and (6) 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.
Aurora Cannabis, Inc. (NYSE: ACB )
Class Period: February 13, 2020 - September 4, 2020
Lead Plaintiff Deadline: December 1 , 2020
The complaint filed 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 that: (1) the Company had significantly overpaid for previous acquisitions and experienced degradation in certain assets, including its production facilities and inventory; (2) the Company's purported "business transformation plan" and cost reset failed to mitigate the foregoing issues; (3) accordingly, it was foreseeable that Aurora would record significant goodwill and asset impairment charges; 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.
Precigen, Inc. f/k/a Intrexon Corporation (NASDAQ: PGEN , XON)
Class Period: May 10, 2017 - September 25, 2020
Lead Plaintiff Deadline: December 4 , 2020
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 used pure methane, rather than natural gas, as the feedstock to achieve the reported results from its methane bioconversion platform; (2) that yields from natural gas as a feedstock were substantially lower than yields using pure methane; (3) that, due to the substantial price difference between pure methane and natural gas, pure methane was not a commercially viable feedstock; (4) that, due to the high costs of pure methane, the Company could not sustain operations of the methane bioconversion platform without pursuing financial alternatives; (5) that, due to the reduced yields from natural gas and high costs of pure methane, the Company could not find a financial or strategic partner for its methane conversion platform; (6) that, as a result of the foregoing, the Company was forced to divest its methane bioconversion platform and associated intellectual property, allowing the Company to focus on its other strategic assets; (7) that the Company was under investigation by the SEC; and (8) that, as a result of the foregoing, Defendants’ public statements were materially false and misleading 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
