BENSALEM, Pa., Sept. 30, 2019 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
Cardinal Health, Inc. (NYSE: CAH)
Class Period: March 2, 2015 - May 2, 2018
Lead Plaintiff Deadline: September 30, 2019
The complaint filed in this class action 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, Defendants failed to disclose to investors: (1) that the 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) that Cordis’s existing global supply chain and inventory control systems were antiquated and ineffective, which were causing operational and inventory problems at Cordis; (3) that Cordis’s inventory and supply chain platforms were so deficient that the Company lacked visibility into customer demand and existing inventory levels, particularly with respect to products consigned to third-party vendors overseas; (4) that, as a result, Cordis manufactured and accumulated excessive amounts of cardiovascular product inventories, which sat on the shelf and became unsellable and/or expired; (5) that the Company failed to establish reserves, write off expired products, and subtract that inventory from the Company’s assets on its balance sheets; (6) that, as a result, the Company materially overstated Cordis’s inventory balances; (7) that, contrary to Defendants’ representations, Cordis was not “performing well” and its integration was not “on track,” “going incredibly well” or “largely on plan"; (8) that the Company struggled separating the Cordis business from J&J due to operational, manufacturing, and personnel deficiencies; and (9) that, 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.
Pluralsight, Inc. (NASDAQ: PS)
Class Period: August 2, 2018 - July 31, 2019
Lead Plaintiff Deadline: October 15, 2019
The complaint filed in this class action 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, Defendants failed to disclose to investors: (1) that Pluralsight was experiencing sales execution challenges which impacted its billings; (2) that Pluralsight was experiencing substantial delays in hiring and properly training its salesforce that would be necessary to meet its lofty billing projections; (3) that Pluralsight was behind on the onboarding of new sales representatives, which was causing sales execution issues and preventing the Company from meeting its high growth projections; and (4) that as a result, Pluralsight’s public statements were materially false and misleading at all relevant times.
Meredith Corporation (NYSE: MDP)
Class Period: January 31, 2018 - September 5, 2019
Lead Plaintiff Deadline: November 5, 2019
The complaint filed in this class action 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, Defendants failed to disclose to investors: (1) the Time, Inc. acquisition was not as profitable as the Company had claimed; (2) that the Company would incur additional costs for strategic investments to improve the Time business; (3) that, as a result, the Company’s earnings would be materially and adversely impacted; and (4) that, 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.
Greenlane Holdings, Inc. (NASDAQ: GNLN)
Class Period: Company’s April 2019 Initial Public Offering
Lead Plaintiff Deadline: November 12, 2019
The complaint filed in this class action alleges that the Registration Statement was materially false and misleading and omitted to state: (1) that the City of San Francisco had introduced a major initiative to ban the sale of e-cigarette products across three major cities and prohibit the manufacture of products at the headquarters of Greenlane’s key partner, JUUL Labs; (2) that, if approved, the initiative would materially and adversely impact the Company’s financial results and prospects; and (3) that, 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.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com