CEDARHURST, N.Y., Jan. 25, 2019 (GLOBE NEWSWIRE) -- The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff and a preliminary estimate of their recoverable losses.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No classes have yet been certified in the actions below. Appointment as lead plaintiff is not required to partake in any recovery.
YRC Worldwide Inc. (NASDAQGS: YRCW)
A class action has commenced on behalf of shareholders in YRC Worldwide Inc. who purchased shares between March 10, 2014 and December 14, 2018. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) from 2005 to at least 2013, YRC's units systematically overcharged the federal government for freight carrier services; (2) this alleged misconduct caused the Department of Defense to overpay by millions of dollars for shipments that were lighter, and thus cheaper, than the weights for which the government was charged; (3) consequently, this alleged misconduct would subject YRC to enhanced government scrutiny and liabilities, including potentially owing treble damages under the False Claims Act; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://kseclaw.com/securities/yrc-worldwide-inc/?wire=3
Dentsply Sirona, Inc. (NASDAQ: XRAY)
A class action has commenced on behalf of shareholders in Dentsply Sirona, Inc. including (i) all persons who purchased the common stock of Dentsply Sirona, Inc. (NASDAQ: XRAY) between February 20, 2014 and August 7, 2018; (ii) all Dentsply International Inc. shareholders who held shares as of the record date of December 2, 2015 and were entitled to vote with respect to the Acquisition at the January 11, 2016 special meeting of Dentsply International Inc. shareholders; and (iii) all persons who purchased or otherwise acquired the common stock of Dentsply International in exchange for their shares of common stock of Sirona in connection with the Acquisition. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: According to the complaint, during the Class Period, Defendants attributed the Company’s financial performance to the Company’s “innovation,” “operational improvement efforts,” “new products,” and “continued investments in sales and marketing” and told investors that these factors helped the Company succeed despite the “highly competitive” market for its products. In reality, the Company’s financial results had been buoyed by an anticompetitive scheme among the Company’s three primary distributors that suppressed competition in the dental supply market and artificially inflated the price of dental supplies sold by Dentsply. Further, Defendants concealed that an exclusive distribution arrangement that Sirona had with one of its distributors, Patterson Companies, Inc. (“Patterson”), required Patterson to regularly make large minimum purchases regardless of demand and, as a result, by 2015, Patterson had been supplied with so much excess inventory that it could not be sold. This channel-stuffing rendered the Company’s reported sales, financial results and guidance materially false and misleading. In addition, the Company represented that it reported its financial statements, including its goodwill, in accordance with generally accepted accounting principles, or GAAP. In fact, the Company’s reported goodwill was artificially inflated and not reported in accordance with GAAP because it did not reflect the financial impact of the anticompetitive scheme.
Shareholders may find more information at https://kseclaw.com/securities/dentsply-sirona-inc/?wire=3
NVIDIA Corporation (NASDAQGS: NVDA)
A class action has commenced on behalf of shareholders in NVIDIA Corporation who purchased shares between August 10, 2017 and November 15, 2018. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) NVIDIA’s growth in its gaming GPU revenue was driven, as repeatedly denied by Defendants, in significant part by the spiked demand for those GPUs among cryptocurrency miners; (ii) NVIDIA did not have, as Defendants asserted, visibility into its inventory channel; (iii) NVIDIA was unable to adapt to the volatility of cryptocurrency markets; (iv) as cryptocurrency prices dropped, NVIDIA hid halting growth from cryptocurrency miners by continuing to push mid-range GPUs into the channel; (v) this would foreseeably cause an oversupply of gaming card inventory levels on the market and ultimately lead to over three months of excess inventory in NVIDIA’s channel; and (vi) as a result, NVIDIA’s public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://kseclaw.com/securities/nvidia-corporation/?wire=3
Allergan plc (NYSE: AGN)
A class action has commenced on behalf of shareholders in Allergan plc who purchased shares between May 9, 2017 and December 19, 2018. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: During the Class Period, and unbeknownst to investors, Allergan misled investors regarding various “pharma and device approvals” and concealed the fact that the Company’s CE Mark for its textured breast implants and tissue expanders was expiring in Europe. On December 19, 2018, the Company announced that, following a compulsory recall request from Agence Nationale de Sécurité du Médicament (“ANSM”), the French regulatory authority, the Company had suspended the sale of these products and that it was withdrawing all remaining supplies from European markets. The suspension of sales stemmed directly from the expiration of the company's CE Mark for these products, and the stock price fell drastically following the news.
Shareholders may find more information at https://kseclaw.com/securities/allergan-plc/?wire=3
Kuznicki Law PLLC is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock.
CONTACT:
Kuznicki Law PLLC
Daniel Kuznicki, Esq.
445 Central Avenue, Suite 334
Cedarhurst, NY 11516
Email: dk@kclasslaw.com
Phone: (347) 696-1134
Cell: (347) 690-0692
Fax: (347) 348-0967