Securities Class Actions – Page 44 – ClaimsFiler

Case Type: Securities Class Actions

According to the law firm press release, the lawsuit alleges throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Dakota Plains failed to disclose that Defendants had actual control of Dakota Plains' business and operations; (2) Dakota Plains and its management colluded with Defendants to misappropriate Dakota Plains' assets for Defendants' personal gains at the expenses of Dakota Plains investors; (3) Dakota Plains lacked effective and adequate internal control; and (4) as a result, Defendants' public statements about Dakota Plains' business, operations and prospects were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

According to the law firm press release, the filed complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and failed to disclose: (1) that the Company was experiencing a large decline in high throughput sequencing instrument sales; (2) that the decline was negatively impacting the Company's revenue; (3) that the Company lacked visibility into trends that could have a substantial impact on the Company's financial results; (4) that, as such, the Company's revenue guidance was unreliable and overstated; and (5) that, as a result of the foregoing, Defendants' positive statements about Illumina's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

According to the law firm press release, the lawsuit alleges throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) New Oriental engaged in college application fraud; and (2) as a result, Defendants' statements about New Oriental's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. On December 2, 2016, Reuters reported that eight former and current New Oriental employees informed Reuters that New Oriental "engaged in college application fraud, including writing application essays and teacher recommendations, and falsifying high school transcripts." On this news, shares of New Oriental fell $6.99 per share or over 14% from its previous closing price to close at $42.00 per share on December 2, 2016, damaging investors.

According to the law firm press release, Zimmer, through various subsidiaries and related entities, designs develops and manufactures medical equipment. The company offers orthopedic and dental reconstructive implants, spinal implants, trauma products, and related surgical products.

According to the law firm press release, the filed complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company's private label business was underperforming; (2) the Company's acquisition strategy was underperforming; (3) the Company had overstated its full-year 2016 guidance; and (4) as a result of the foregoing, Defendants' statements about TreeHouse's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

According to the law firm press release, on March 24, 2016, the Company completed the acquisition of Health Net, Inc. ("Health Net") for approximately $6 billion, including the assumption of debt. The acquisition was accounted for as a business combination, which requires that assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date.

According to the law firm press release, the lawsuit alleges Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Impax was engaging and/or had engaged in conduct that would cause the antitrust division of the U.S. Department of Justice ("DOJ") and the Connecticut Attorney General to conduct extensive investigations of possible collusion of generic drug pricing; (2) the DOJ investigation and the underlying conduct was likely to result in criminal charges against Impax, and possibly its officers and directors, for collusion of generic drug pricing; (3) Impax lacked effective internal controls over financial reporting; and (4) as a result, Defendants' 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.

According to the law firm press release, the lawsuit alleges throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) Teva was engaging and/or had engaged in conduct that would result in an antitrust investigation by the U.S. Department of Justice ("DOJ") and the State of Connecticut Office of the Attorney General; (2) the DOJ investigation and the underlying conduct could cause U.S. prosecutors to file criminal charges against Teva by the end of 2016 for suspected price collusion; (3) in turn, Teva lacked effective internal controls over financial reporting; and (4) as a result, Teva's public statements were materially false and misleading at all relevant times.

According to the law firm press release, Adeptus Health owns and operates a network of independent freestanding emergency rooms in the United States.

Mylan N.V. (NASDAQ: MYL)

According to the law firm press release, the lawsuit alleges throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Mylan N.V. and Mylan Inc. incorrectly classified EpiPen as a generic under the Medicaid Drug Rebate Program, which was financially consequential for federal and state governments as it reduced the amount of quarterly rebates Mylan N.V. and Mylan Inc. owed for EpiPen; (2) between 2011 through 2015, Mylan N.V. and Mylan Inc. paid a lower rebate of 13% when it should have been paying a higher rebate of 23.1% or more; (3) the incorrect classification appears to have cost the federal government more than $100 million in the last five years alone; (4) in turn, Mylan N.V. and Mylan Inc. lacked effective internal controls over financial reporting; and (5) as a result, Mylan N.V. and Mylan Inc.’s public statements were materially false and misleading at all relevant times. The lawsuit claims that investors suffered damages when these details entered the market.

According to the law firm press release, the lawsuit alleges throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Cognizant lacked effective internal controls over financial reporting; (2) certain improper payments were for permits and building licenses for some of its 12 facilities in India; and (3) as a result, defendants’ statements about Cognizant’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damage.

According to the law firm press release, the lawsuit alleges throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the FDA previously questioned whether the data from the 611 and 612 Studies were clinically meaningful; (2) the FDA advised defendants in December 2012 not to submit the New Drug Application based on data from the 611 and 612 Studies; and (3) as a result, defendants' public statements about Spectrum's business, operations and prospects were materially false and misleading at all relevant times.

According to the law firm press release, Twitter is a global platform for public self-expression and conversation in real time, where any user can create a Tweet and any user can follow other users. The Company's main source of revenue is advertising. Because advertising revenue is driven by the total number of users on the platform and, equally as important, the level of engagement of such users, the Company and analysts have focused closely on metrics measuring total users and user engagement. Twitter reported two primary user metrics: Monthly Active Users or "MAUs" (a measure of the total user base) and timeline views (a measure of user engagement). Prior to the beginning of the Class Period, Twitter announced that it would discontinue reporting its primary user engagement metric, timeline views, stating the reason for the change was that the metric was an unrepresentative measure of user engagement and no longer reflective of Twitter's business.

According to the law firm press release, Quorum is an independent operator and manager of general acute-care hospitals and outpatient services in the United States, with facilities in 16 states. Quorum was spun off from CHS effective April 29, 2016. Under the terms of the spin-off, CHS stockholders who held CHS common stock as of April 22, 2016, the record date, received a distribution of one share of Quorum common stock for every four shares of CHS common stock, plus cash in lieu of any fractional shares. CHS's stockholders owned all of the outstanding common stock of Quorum upon completion of the spinoff.

According to the Complaint, it is alleged on October 13, 2015, as detailed herein, defendants, to secure shareholder support for the unfair Acquisition of the Company by Berkshire, issued a materially false and misleading Definitive Proxy Statement Pursuant to § 14(a) of the Securities Exchange Act of 1934 (the "Proxy"). The Proxy contained numerous material misleading statements or omissions in an attempt to secure approval of the Acquisition.

According to the law firm press release, the complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company was experiencing difficulty ensuring the safety of customers' jewelry while in the custody of Signet's brands; (2) that employees at stores under at least one of Signet's brands (Kay) were swapping customers' stones for less valuable stones; (3) that the Company was experiencing a drop-off in customer confidence; (4) that the Company was facing increasing competitive pressures; (5) that, as result of the foregoing, the Company's financial performance was being negatively impacted; and (6) that, as a result of the foregoing, Defendants' positive statements about Signet's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

According to the law firm press release, CCA, together with its subsidiaries, owns and operates privatized correctional and detention facilities in the United States. The Company owns, operates, and manages prisons and other correctional facilities, and provides inmate residential and prisoner transportation services for governmental agencies. As of 2015, CCA was the largest private corrections company in the United States, and manages more than 65 correction and detention facilities in 19 states and the District of Columbia.

According to the law firm press release, Immunomedics, a clinical-stage biopharmaceutical company, focuses on the development of monoclonal antibody-based products for the targeted treatment of cancer, autoimmune, and other diseases. Among other product candidates, the Company is developing the antibody-drug conjugate sacituzumab govitecan IMMU-132 ("IMMU-132"), which is in Phase II trials for treatment of patients with metastatic triple-negative breast cancer and small-cell and non-small-cell lung cancers.

According to the law firm press release, NewLink, a biopharmaceutical company, focuses on discovering, developing, and commercializing immunotherapeutic products to enhance treatment options for patients with cancer. Among the Company's product candidates is algenpantucel-L, a pancreatic cancer treatment.

According to the law firm press release, the lawsuit alleges throughout the Class Period defendants issued false and misleading statements about Daimler's compliance with emissions standards and Daimler's purported eco-friendly BlueTEC diesel engines. The lawsuit claims that when the true fact entered the market, the value of Daimler shares fell, damaging investors.