Securities Class Actions – Page 60 – 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) Graña y Montero was aware that its Brazilian partner Odebrecht S.A. paid bribes to former Peruvian President Alejandro Toledo to win construction work on a road traveling from Peru to Brazil; and (2) as a result, defendants' statements about Graña y Montero's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. On February 24, 2017, Reuters published an article highlighting a report that Graña y Montero knew about $20 million in bribes paid to former Peruvian President Alejandro Toledo by its partner Odebrecht. On this news, shares of Graña y Montero fell $1.77 per share or over 34% to close $3.32 per share on February 24, 2017.

According to the law firm press release, the complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) Sito's growth of bookings would not propel the Company's fourth fiscal quarter 2016 media placement revenues and revenue growth to the level represented during the Class Period; (ii) Sito was aware that the election would impact the Company's fourth fiscal quarter 2016 revenue, (iii) clients' campaign spending and media placement revenues in the fourth quarter 2016 was highly dependent on the elections; (iv) the Company's growth in media placement revenues would not occur in the fourth fiscal quarter 2016; (iv) as a result of the foregoing, the Company's statements, as well as Defendants' statements about Sito's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

According to the Complaint, this action arises out of a stock and cash transaction by which South Korea-based Samsung Electronics Co. Ltd., through its subsidiaries Samsung Electronics America, Inc. and Silk Delaware, Inc. ("Merger Sub," collectively with Samsung Electronics Co. Ltd. and Samsung Electronics America, Inc., "Samsung") will acquire each issued and outstanding share of Harman for $112.00 per share in cash (the "Proposed Transaction" or "Merger"). Both companies' boards of directors have approved the deal.

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) Galena's sales of Abstral were based on unsustainable sales and marketing practices; (2) such sales and marketing practices could subject Galena to a criminal investigation; and (3) as a result, Defendants' statements about Galena's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

FXCM Inc. (NYSE: FXCM)

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) between September 4, 2009 through at least 2014, FXCM's U.S. subsidiary engaged in false and misleading solicitations of its retail foreign exchange customers by concealing its relationship with its most important market maker and by misrepresenting that its "No Dealing Desk" platform had no conflicts of interest with its customers; (2) FXCM's U.S. subsidiary made false statements to the National Futures Association about its relationship with the market maker; and (3) as a result, Defendants' statements about FXCM'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 damages.

According to the law firm press release, DaVita provides kidney dialysis services for patients suffering from chronic kidney failure or end-stage renal disease. The Company operates kidney dialysis centers and provides related lab services in outpatient dialysis centers, and provides acute inpatient dialysis services in approximately 900 hospitals and related laboratory services in the United States. DaVita made contributions to a purported charitable foundation called the American Kidney Fund ("AKF"), a group that provides financial assistance toward patients' health insurance premiums.

According to the law firm press release, Regulus is a biopharmaceutical company that focuses on the discovery and development of drugs that target microRNAs to treat and prevent various diseases, including hepatitis C infections, cardiovascular, fibrosis, oncology, immune-inflammatory, and metabolic diseases. One of its main clinical development products is RG-101, a GalNAc-conjugated anti-miR targeting miR-122 to treat patients with hepatitis C virus infection.

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) Innocoll's New Drug Application ("NDA") submission to the FDA in October 2016 for XARACOLL was incomplete; (2) due to the incomplete NDA submission, XARACOLL would not be approved in 2017 as investors were led to believe; and (3) as a result, Defendants' statements about Innocoll's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

Mallinckrodt plc (NYSE: MNK)

According to the law firm press release, on August 14, 2014, Mallinckrodt acquired Questcor Pharmaceuticals, Inc. (“Questcor”) in a $5.6 billion transaction. As a result of the acquisition, Mallinckrodt added HP Acthar Gel (“Acthar”), an injectable medication made from pigs’ pituitary glands, to its drug portfolio. Acthar is the only approved therapeutic preparation of adrenocorticotropic hormone (“ACTH”) in the U.S., and is approved by the U.S. Food and Drug Administration (“FDA”) as a treatment for 19 different conditions, including infantile spasms, and difficult-to-treat autoimmune and inflammatory conditions. Given the monopoly status of Acthar in the U.S. market, Questcor, and later Mallinckrodt, repeatedly increased the price of Acthar 85,000% from $40 per vial in 2001 to over $34,000 per vial in 2017.

According to the law firm press release, Southern Company is a utility holding company based in Atlanta, Georgia. Southern Company's operating subsidiaries include public utility companies located throughout the Southeastern United States, including Mississippi Power, Georgia Power, Alabama Power, Southern Power and Gulf Power.

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) Fenix had an inadequate inventory valuation methodology; (2) Fenix had an inadequate methodology to calculate goodwill impairment; (3) Fenix was engaging and/or had engaged in conduct that would result in an SEC investigation; and (4) as a result, Defendants' statements about Fenix'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 damages.

According to the law firm press release, the Complaint alleges that during the Class Period, Novo Nordisk reported materially false and misleading earnings and forecasts in that they were inflated through the collusive price fixing of the Company’s insulin drugs. The Complaint also alleges that Novo Nordisk misrepresented and concealed the true extent of the pricing pressures it was experiencing from pharmacy benefit managers.

According to the law firm press release, the complaint alleges that, throughout the Class Period, Ophthotech made overtly positive representations about the effectiveness and potential of its treatment Fovista when used in combination with Lucentis, a commercially available anti-vascular endothelial growth factor agent, despite awareness that the phase 3 clinical trial of Fovista would fail to achieve its primary endpoint of change in best corrected visual acuity from baseline at 12 months over Lucentis alone. The complaint further alleges that these statements caused Ophthotech stock to trade at artificially inflated prices.

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) Universal Health admitted patients based on its own financial considerations and not upon the medical necessity of the patient; (2) Universal Health would keep patients admitted until their insurance payments ran out in order to ensure the maximum payment for its services; (3) as a result, Universal Health's revenues from inpatient care relied on unsustainable practices; (4) in turn, Universal Health lacked effective internal control concerning its practices and policies of admitting patients; and (5) as a result, Universal Health's public statements were materially false and misleading at all relevant times. On December 7, 2016, Buzzfeed published an investigative story on Universal Health alleging, among other things, that Universal Health put profits ahead of people. On this news, shares of Universal Health fell $15.01 per share, or nearly 12%, from its previous closing price to close at $111.36 per share on December 7, 2016, damaging investors.

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, Alexion, a biopharmaceutical company, develops and commercializes therapeutic products. Among the Company's products is Soliris (eculizumab), a monoclonal antibody for the treatment of paroxysmal nocturnal hemoglobinuria (PNH), a genetic blood disorder, and atypical hemolytic uremic syndrome (aHUS), a genetic disease.

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.

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