Globe Newswire 13-Jan-2019 11:00 AM
NEW YORK, Jan. 13, 2019 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
Welbilt, Inc. (NYSE:WBT)
Class Period: February 24, 2017 to November 2, 2018
Lead Plaintiff Deadline: February 11, 2019
The complaint alleges that during the class period Welbilt, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the Company lacked effective internal control over financial reporting; (ii) the Company was incorrectly recording the tax basis of foreign subsidiaries and the amortization of their intangible assets; and (iii) as a result of the foregoing, Defendants' statements about Welbilt's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On November 5, 2018, Welbilt filed a Form 8-K for its Q3 2018, stating that "During the third quarter of 2018, the Company identified errors in the tax basis of a foreign subsidiary and incorrect amortization of the intangible assets held by the same entity… In addition, the Company discovered certain intercompany transactions were not recorded on a timely basis." As a result of these errors, Welbilt announced that "the consolidated financial statements of the Company as of and for the year ended December 31, 2016 will be restated, and as of and for the years ended December 31, 2015 and 2017 are expected to be revised."
Get additional information about the WBT lawsuit: http://www.kleinstocklaw.com/pslra-1/welbilt-inc-loss-submission-form?wire=3
Tenaris S.A. (NYSE:TS)
Class Period: May 1, 2014 to November 27, 2018
Lead Plaintiff Deadline: February 11, 2019
Throughout the class period, Tenaris S.A. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) Tenaris's CEO and Chairman, Paolo Rocca, knew that one of his company's executives paid cash to government officials from 2009 to 2012 to expedite compensation payments for the sale of Sidor; (2) this conduct would lead to Rocca being charged in a graft scheme, and subject Tenaris, its affiliates, and/or executives to heightened governmental scrutiny; and (3) as a result, Tenaris's public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Get additional information about the TS lawsuit: http://www.kleinstocklaw.com/pslra-1/tenaris-s-a-loss-submission-form?wire=3
Aphria Inc. (NYSE:APHA)
Class Period: July 17, 2018 to December 4, 2018
Lead Plaintiff Deadline: February 4, 2019
The lawsuit alleges Aphria Inc. made materially false and/or misleading statements and/or failed to disclose during the class period that: (1) the Latin American assets acquired by the Company lacked adequate licenses to operate and were overvalued; (2) the acquisition of the Latin American assets would enrich the Company's CEO and other insiders at the expense of shareholders; and (3) 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.
Get additional information about the APHA lawsuit: http://www.kleinstocklaw.com/pslra-1/aphria-inc-loss-submission-form?wire=3
Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. There is no cost or obligation to you. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
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