Get Cash Back and $0 Commissions + The Power of TradeStation
The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of FRED, CAH, ABMD and CVS
Globe Newswire 27-Aug-2019 10:03 AM
NEW YORK, Aug. 27, 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.
Fred's, Inc. (NASDAQ:FRED) Class Period: December 20, 2016 to June 28, 2017 Lead Plaintiff Deadline: August 27, 2019
According to the filed complaint, defendants made numerous materially false and misleading statements concerning the level of regulatory risk faced by the Original Merger and the Revised Merger which would ultimately cause the termination of the Fred's Asset Purchase Agreement. Specifically, Defendants made false and/or misleading statements: (i) downplaying or disputing contrary reports from journalists signaling regulatory turbulence in closing the merger; (ii) representing that inside knowledge of the FTC gave confidence that the deal would close.
Cardinal Health, Inc. (NYSE:CAH) Class Period: March 2, 2015 to May 2, 2018 Lead Plaintiff Deadline: September 30, 2019
During the class period, Cardinal Health, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: 1) following Cardinal's acquisition of Cordis, the RFID [radio-frequency identification] inventory tracking technology and advanced supply chain solutions that Defendants told investors the Company would to use to improve Cordis's performance were never implemented across Cordis; 2) Cordis's antiquated and ineffective global supply chain was causing operational and inventory problems at Cordis; 3) as a result, Cordis manufactured and accumulated excessive amounts of cardiovascular product inventories, which sat on the shelf and became unsellable and/or expired; 4) the Company materially overstated Cordis's inventory balances; 5) Cordis was not "performing well" and its integration was not "on track," "going incredibly well" or "largely on plan"; and 6) to correct Cordis's deficiencies, the Company would have to make substantial investments in Cordis's IT and supporting infrastructure, thereby incurring significant Selling, General and Administrative Expenses charges beyond the levels internally budgeted or projected by Cardinal and diminishing operating earnings.
Abiomed, Inc. (NASDAQ:ABMD) Class Period: January 31, 2019 to July 31, 2019 Lead Plaintiff Deadline: October 7, 2019
The lawsuit alleges that throughout the class period, Abiomed, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Abiomed's revenue growth was in decline; (ii) the Company did not have a sufficient plan in place to stem its declining revenue growth; (iii) the Company was unlikely to restore its revenue growth over the next several fiscal quarters; (iv) consequently, Abiomed was reasonably likely to revise its full-year 2020 guidance in a way that would fall short of the Company's prior projections and market expectations; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
CVS Health Corporation (NYSE:CVS) Class Period: on behalf of all former Aetna Inc. shareholders who acquired CVS Health Corporation (CVS) shares in exchange for their Aetna shares in connection with CVS's acquisition of Aetna on November 28, 2018. Lead Plaintiff Deadline: October 15, 2019
According to the filed complaint, CVS made false and/or misleading statements in connection with its acquisition of Aetna and/or failed to disclose that: (a) by the end of 2017, CVS's financial condition and expected earnings had deteriorated as a result of rising costs and poor results being experienced in the long-term care ("LTC") unit associated with the 2015 acquisition of Omnicare; (b) in 2017, deteriorating conditions and prospects in CVS 's LTC unit prompted CVS to undertake hasty acquisitions of LTC pharmacies to compensate for the declining LTC business and/or mask the expected LTC goodwill impairment ahead of the planned Acquisition; (c) although negative LTC performance factors prompted CVS and the CVS Individual Defendants to make hasty LTC pharmacy acquisitions in 2017, those same negative factors were being overlooked and ignored for purposes of undertaking, disclosing, and reporting the results of LTC goodwill impairment tests throughout 2017, in violation of GAAP; (d) the LTC goodwill being carried on CVS's books as a result of the Omnicare acquisition was being carried at inflated values that would require billions of dollars in impairment charges that would be charged against earnings; and (e) as a result of the foregoing, CVS's true business metrics and financial prospects were not as the Offering Documents represented.
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.
CONTACT: J. Klein, Esq. Empire State Building 350 Fifth Avenue 59th Floor New York, NY 10118 jk@kleinstocklaw.com Telephone: (212) 616-4899 Fax: (347) 558-9665 www.kleinstocklaw.com
