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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against DXC Technology, Immunomedics, Natural Health, and Maiden Holdings and Encourages Investors to Contact the Firm
Globe Newswire 24-Feb-2019 6:07 PM
NEW YORK, Feb. 24, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of DXC Technology Company, Immunomedics, Inc., Natural Health Trends Corp., and Maiden Holdings, Ltd. Stockholders have until the deadlines listed below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
The complaint alleges that throughout the class period defendants made false and misleading statements and/or failed to disclose adverse information regarding the company's business and prospects. Specifically, the complaint alleges that defendants failed to disclose that the company had changed or planned to change the operations of its sales teams, deploying generalized sales teams as opposed to the specialized teams that were better capable of delivering specialized services to its clients; that the company's workforce optimization strategy of sharply reducing staff while reducing costs was resulting in a shortage of sales personnel who could execute on demand for services, thereby risking and ultimately losing sales and revenue opportunities; and that, as a consequence, the company's revenue and financial performance guidance for fiscal 2019 was without a reasonable basis.
The complaint alleges that throughout the class period defendants made false and/or misleading statements, as well as failed to disclose material adverse facts. On December 17, 2018, FDAnews.com published an article titled "FDA Hits Immunomedics for Data Integrity Breach." According to this article, "[t]he FDA cited Immunomedics for a host of violations - including its handling of a data integrity breach - observed at its Morris Plains, New Jersey, drug substance manufacturing facility between August 6 and 14." The article states that this breach included "manipulated bioburden samples, misrepresentation of an integrity test procedure in the batch record, and backdating of batch records, such as dates of analytical results."
The complaint alleges that throughout the class period defendants made false and/or misleading statements and/or failed to disclose that: (1) Natural Health Trends was operating as a pyramid scheme in China, which is contrary to Chinese law; (2) consequently, Natural Health Trends was not in compliance with applicable Chinese law; and (3) as a result, defendants statements about Natural Health Trends business, operations, and prospects, were false and misleading and/or lacked a reasonable basis at all relevant times.
The complaint alleges that throughout the class period defendants misrepresented the quality and nature of Maiden's underwriting and risk management policies and practices and the risks of its reinsurance portfolio. Specifically, the complaint alleges that defendants misleadingly claimed that they were subjecting AmTrust's insurance portfolio to robust analysis and cross-checks to ensure that the company had appropriately priced the risk of reinsuring AmTrust's insurance portfolio. According to the complaint, the company failed to employ sufficient underwriting and risk management protocols and had largely abdicated its responsibility to ensure that its AmTrust Reinsurance segment priced policies commensurate with the risk assumed by the Company.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
