NEW YORK, July 17, 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.
A. O. Smith Corporation (NYSE: AOS)
Class Period: July 26, 2016 - May 16, 2019
Lead Plaintiff Deadline: July 29, 2019
Join the action: https://www.zlk.com/pslra-1/a-o-smith-corporation-loss-form?wire=3
Allegations: A. O. Smith Corporation made materially false and/or misleading statements and/or failed to disclose that: (a) A.O. Smith had undisclosed business connections and entanglements with UTP through which it funneled up to 75% of its China product sales; (b) A.O. Smith had used UTP to engage in channel stuffing by artificially inflating inventories purportedly sold through distributors that were not based on consumer demand, thereby approximately doubling the normal level of inventory at such distributors; (c) A.O. Smith had used its UTP relationship to artificially inflate the sales figures it reported to investors by as much as 8% and to conceal worsening sales trends that the Company was experiencing in China; (d) A.O. Smith’s sales growth had been primarily in lower margin products as its higher priced products were being undercut by competition in “second-tier” Chinese cities, causing the Company to experience significant margin pressures; (e) A.O. Smith had increased its cash reserves in China to over $530 million in furtherance of its channel stuffing and sales manipulation scheme, encumbering the Company’s ability to repatriate the cash or use it for capital expenditures; and (f) as a result of (a)-(e) above, A.O. Smith’s business, operations, and prospects were significantly worse than publicly represented and the Company was poised for sales and earnings declines in China, its most important international market.
To learn more about the A. O. Smith Corporation class action contact jlevi@levikorsinsky.com.
Sunlands Technology Group (NYSE: STG)
Class Period: shareholders of Sunlands Technology Group who purchased shares pursuant and/or traceable to Sunlands’ March 2018 initial public stock offering.
Lead Plaintiff Deadline: August 26, 2019
Join the action: https://www.zlk.com/pslra-1/sunlands-technology-group-loss-form?wire=3
Allegations: Sunlands Technology Group made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) Sunlands’ student enrollment was declining; (2) Sunlands’ gross billings were declining; (3) Sunlands' marketing tactics were not as robust as described in the Registration Statement; and (4) as a result, Defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
To learn more about the Sunlands Technology Group class action contact jlevi@levikorsinsky.com.
Diebold Nixdorf, Incorporated (NYSE: DBD)
Class Period: February 14, 2017 - July 4, 2017
Lead Plaintiff Deadline: September 3, 2019
Join the action: https://www.zlk.com/pslra-1/diebold-nixdorf-incorporated-loss-form?wire=3
Allegations: Diebold Nixdorf, Incorporated made materially false and/or misleading statements and/or failed to disclose that: (1) that, as a result of the Wincor acquisition and related integration, the Company was less focused on its core business; (2) that the Company expected certain customers would not renew their service contracts (i.e. contract runoff); (3) that the Company was not adequately prepared to staff service technicians; (4) that, as a result of the expected contract runoff, the Company would suffer a shortage of adequately trained service technicians; (5) that, as a result, the Company would suffer margin pressure in its services segment; (6) that, as a result of the foregoing, the Company would lose market share; and (7) 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 learn more about the Diebold Nixdorf, Incorporated class action contact jlevi@levikorsinsky.com.
CannTrust Holdings Inc. (NYSE: CTST)
Class Period: November 14, 2018 - July 5, 2019
Lead Plaintiff Deadline: September 9, 2019
Join the action: https://www.zlk.com/pslra-1/canntrust-holdings-inc-loss-form?wire=3
Allegations: During the class period, CannTrust Holdings Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was growing cannabis in its Pelham greenhouse while applications for regulatory approval were still pending; (2) the Company’s Pelham greenhouse did not comply with certain regulations; (3) as a result, the Company was reasonably likely to face an inventory hold by Health Canada until the Pelham facility becomes compliant with applicable regulations; (4) as a result, the Company’s customers would face shortages and would likely seek product from CannTrust’s competitors; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
To learn more about the CannTrust Holdings Inc. class action contact jlevi@levikorsinsky.com.
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
Fax: (212) 363-7171
www.zlk.com