NEW YORK, NY / ACCESSWIRE / August 17, 2020 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.
Endo International Plc (NASDAQ:ENDP)
CONTACT JAKUBOWITZ ABOUT ENDP:
Class Period : August 8, 2017 - June 10, 2020
Lead Plaintiff Deadline : August 18, 2020
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Endo's and/or its subsidiaries' contributions to the opioid crisis (including, but not limited to, their opioid products' disproportionately negative impact on New York and the fraud that Defendants perpetrated on the New York insurance market) were larger in scope than the Company had represented; (ii) part of that contribution to the crisis included Endo publishing and disseminating false information to health care providers regarding the risks and benefits of opioids; (iii) the foregoing, once revealed, was foreseeably likely to subject Endo and/or its subsidiaries to increased regulatory scrutiny and enforcement, as well as significant financial and/or reputational harm, particularly with respect to New York; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.
Casper Sleep Inc. (NYSE:CSPR)
CONTACT JAKUBOWITZ ABOUT CSPR:
in or traceable to the Company's public offering conducted on or around February 7, 2020.
Lead Plaintiff Deadline : August 18, 2020
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Casper's profit margins were actually declining, rather than growing; (2) Casper was changing an important distribution partner, costing it 130 basis points of gross margin in the first quarter of 2020 alone; (3) Casper was holding a glut of old and outdated mattress inventory that it was selling at steeply discounted clearance prices, further impairing the Company's profitability; (4) Casper was suffering accelerating losses, further placing its ability to achieve positive cash flows and profitability out of reach; (5) Casper's core operations were not profitable, but were causing the Company to suffer over $40 million in negative cash flows during the first quarter of 2020 alone and doubling its quarterly net loss year over year; (6) as a result of the foregoing, Casper's ability to achieve profitability, implement its growth initiatives, and expand internationally had been misrepresented in the documents issued in connection with Casper's initial public offering, as the Company needed to shutter its European operations, halt all international expansion, jettison over one fifth of its global corporate workforce, and significantly curtail new store openings in order to avoid an imminent cash and liquidity crisis, let alone achieve positive operating cash flows; and (7) as a result of the foregoing, Casper's revenue growth rate was not sustainable and had not positioned the Company to achieve profitability.
Energy Recovery, Inc. (NASDAQ:ERII)
CONTACT JAKUBOWITZ ABOUT ERII:
Class Period : August 2, 2017 - June 29, 2020
Lead Plaintiff Deadline : September 21, 2020
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Company had different strategic perspectives regarding commercialization of the Company's VorTeq technology than Schlumberger Technology Corp., which had exclusive rights to the use of VorTeq (ii) these differences created substantial risk of early termination of the Company's exclusive licensing agreement with Schlumberger; (iii) accordingly, the revenue guidance and expectations of future license revenue was false and lacked reasonable basis; and (iv) as a result, Defendants' public statements were materially false and misleading at all relevant times or lacked a reasonable basis and omitted material facts.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE: Jakubowitz Law
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