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Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Corcept, Mobile TeleSystems, Healthcare Services, and American Renal and Encourages Investors to Contact the Firm
Globe Newswire 16-May-2019 10:00 PM
NEW YORK, May 16, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Corcept Therapeutics Incorporated, Mobile TeleSystems PJSC, Healthcare Services Group, Inc., and American Renal Associates Holdings, Inc. 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 materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company's business, operations, and prospects. Specifically, the complaint alleges that defendants failed to disclose to investors that: (1) the company had improperly paid doctors to promote its drug Korlym; (2) the company aggressively promoted Korlym for off-label uses; (3) the company's sole specialty pharmacy was a related party; (4) the company artificially inflated its revenue and sales using illicit sales practices through a related party; (5) such practices are reasonably likely to lead to regulatory scrutiny; and (6) 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.
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Mobile TeleSystems and its subsidiary were involved in a scheme to pay $420 million in bribes in Uzbekistan; (2) consequently, Mobile TeleSystems knew or should have known it would be forced to pay substantial fines to the U.S. government after disclosing in 2014 that the U.S. Department of Justice and Securities and Exchange Commission were investigating its Uzbekistan operations; (3) Mobile TeleSystems' level of cooperation with the U.S. government and remediation was lacking; (4) due to the aforementioned misconduct, Mobile TeleSystems would be forced to pay approximately $850 million in criminal penalties to the U.S. government; and (5) as a result, defendants' public statements were materially false and/or misleading at all relevant times.
The complaint alleges that throughout the Class Period defendants made materially false and misleading statements regarding the company's business, operational and compliance policies. Specifically, the complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: defendants engaged in a scheme to deceive the market and a course of conduct that artificially inflated the price of Healthcare Services securities and misrepresented the value of the company's business and prospects by overstating its earnings and concealing the significant defects in its internal controls.
American Renal Associates Holdings, Inc. (NYSE:ARA)
Class Period: August 10, 2016 - March 27, 2019
Lead Plaintiff Deadline: May 28, 2019
The complaint alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) issues with American Renal's accounting process for revenue recognition, collections, and related matters would give rise to a U.S. Securities and Exchange Commission ("SEC") investigation into the same, and increased regulatory scrutiny by the SEC; (2) American Renal's financial statements for the fiscal years 2014, 2015, 2016 and 2017 contained in its Annual Reports for the years ended December 31, 2016 and 2017, and its condensed consolidated financial statements in quarterly reports from 2016 through 2018 were false and could not be relied upon; (3) American Renal had material weaknesses in its internal control over financial reporting; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
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.
