Globe Newswire 14-Jun-2019 3:00 PM
NEW YORK, June 14, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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, it is alleged that Defendants made false and/or misleading statements and/or failed to disclose that: (i) AAC's internal control over financial reporting and disclosure controls and procedures was inadequate to accurately reflect adjustments related to estimates for accounts receivable, provision for doubtful accounts, and revenue; (ii) AAC consequently misstated financial and operating results in its annual reports for fiscal years 2016 and 2017, as well as all quarterly reports throughout 2017 and 2018; (iii) accordingly, those reports could not be relied upon, requiring AAC to restate the financial and operating results reflected therein; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
According to the lawsuit, defendants throughout the Class Period are alleged to have made false and/or misleading statements and/or failed to disclose that: (1) CBL was the target of a class action suit that could result in tens of millions or even hundreds of millions of dollars in liability; (2) CBL, motivated by a desire to avoid bad publicity surrounding its dishonest nature and its dishonest conduct, completely ignored its disclosure obligations; and (3) as a result, CBL's 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.
Lyft, Inc. (NASDAQ:LYFT)
Class Period: Lyft securities purchased or otherwise acquired pursuant and/or traceable to the Company's March 2019 initial public offering (the "IPO" or the "Offering")
Deadline: July 16, 2019
For more info: www.bgandg.com/lyft
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Lyft's claimed ridesharing position was overstated; (2) more than 1,000 of the bicycles in Lyft's rideshare program suffered from safety issues that would lead to their recall; (3) Lyft's drivers were becoming disincentivized from driving for Lyft; (4) Lyft failed to warn investors that a labor disruption could affect its operations; and (5) as a result, Lyft's public statements were materially false and misleading at all relevant times.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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