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CLASS ACTION UPDATE for ARA, AAPL, BSX and MOMO: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
Globe Newswire 23-May-2019 9:47 AM
NEW YORK, May 23, 2019 (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.
The lawsuit alleges: American Renal Associates Holdings, Inc. made materially false and/or misleading statements throughout the class period 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) 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.
To learn more about the American Renal Associates Holdings, Inc. class action contact jlevi@levikorsinsky.com.
The lawsuit alleges: Apple Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) the U.S.-China trade war had negatively impacted demand for iPhones and Apple's pricing power in greater China, one of Apple's most important growth markets; (b) the rate at which Apple customers were replacing their batteries in older iPhones rather than purchasing new iPhones was negatively impacting Apple's iPhone sales growth; (c) as a result of slowing demand, Apple had slashed production orders from suppliers for the new 2018 iPhone models and cut prices to reduce inventory; (d) unit sales for iPhone and other hardware was relevant to investors and the Company's financial performance, and the decision to withhold such unit sales was designed to and would mask declines in unit sales of the Company's flagship product; and (e) as a result of the foregoing, defendants lacked a reasonable basis in fact when issuing the Company's revenue outlook for the first quarter 2019 and/or making the related statements concerning demand for its products, as Apple's business metrics and financial prospects were not as strong as defendants had led the market to believe.
The lawsuit alleges that, during the class period, Boston Scientific Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) Boston Scientific's surgical mesh products indicated for the transvaginal repair of pelvic organ prolapse ("POP") were unsafe; (ii) accordingly, Boston Scientific's continued marketing and sales of these devices in the United States was unlikely to be sustainable; (iii) separately, the Company had sold vaginal mesh implants containing counterfeit or adulterated resin products imported from China; (iv) the foregoing conduct subjected the Company to a heightened risk of regulatory scrutiny and/or government investigations; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
To learn more about the Boston Scientific Corporation class action contact jlevi@levikorsinsky.com.
The lawsuit alleges: Momo Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Momo's compliance procedures and controls were inadequate to prevent, inter alia, illicit financial reporting activity; (ii) Momo's social and dating app, Tantan, was materially noncompliant with PRC law and/or regulations; (iii) Tantan was consequently at an increased risk of being removed from Chinese app stores at the direction of Chinese governmental authorities; and (iv) as a result, Momo's public statements were materially false and misleading at all relevant times.
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
