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CLASS ACTION UPDATE for APOG, OZK and RYAAY: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
Globe Newswire 26-Dec-2018 1:00 PM
NEW YORK, Dec. 26, 2018 (GLOBE NEWSWIRE) -- 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.
Allegations: Apogee Enterprises, Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (i) Apogee lacked the required labor force in place to ramp-up its production; (ii) Apogee was unable to hire, train and retain new employees; (iii) Apogee's productivity and margins would be negatively impacted; and (iv) as a result of the foregoing, Defendants' statements about the Company's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
To learn more about the Apogee Enterprises, Inc. class action contact jlevi@levikorsinsky.com.
Allegations: Bank OZK made materially false and/or misleading statements and/or failed to disclose that: (1) the Company lacked adequate internal controls to assess credit risk; (2) as a result, certain of the Company's loans posed an increased risk of loss; (3) certain substandard loans were reasonably likely to lead to charge-offs; 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. On October 18, 2018, the Company reported that it had "incurred combined charge-offs of $45.5 million on two Real Estate Specialties Group credits" that had previously been classified as substandard. On this news, the Company's share price fell $9.33 per share to close at $25.52 per share on October 19, 2018.
Allegations: Ryanair Holdings plc made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (a) the Company had experienced a breakdown in relations with its employees amidst their growing dissatisfaction with working conditions, lack of benefits, exploitative contracts and management hostility; (b) the Company's pilots and/or cabin crews had sought union recognition or collectivization in several key markets and employees had internally expressed widespread discontent with the Company's collective bargaining units; (c) the Company was experiencing elevated and increasing employee turnover, which had resulted in the loss of hundreds of qualified and skilled employees to competitor airlines; (d) the Company's newly negotiated contracts had not ameliorated employee discontent or "locked away" employee wage growth for three or four years, but rather, defendants were aware that pilot and cabin crew contracts had to be reformulated to significantly increase pay and benefits, comply with local labor laws and provide other worker concessions to enable Ryanair to hire and retain sufficient qualified employees to meet operational targets; (e) because of the aforementioned, the Company was unable to hire sufficient pilots to meet expected demand and was thereby exposed to increased risk of flight cancellations, loss of reputational assets and increased costs from flight disruptions; (f) because of the aforementioned, the Company's historical operating model and profit growth were not sustainable; and (g) the Company could not meet internal earnings expectations.
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 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
