CEDARHURST, N.Y., March 15, 2019 (GLOBE NEWSWIRE) -- The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff and a preliminary estimate of their recoverable losses.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No classes have yet been certified in the actions below. Appointment as lead plaintiff is not required to partake in any recovery.
VelocityShares Daily Inverse VIX Medium Term Exchange Traded Notes (NASDAQGM: ZIV)
Investors Affected: June 30, 2017 - February 5, 2018
A class action has commenced on behalf of certain shareholders in VelocityShares Daily Inverse VIX Medium Term Exchange Traded Notes. The filed complaint alleges that throughout the class period defendants made materially false or misleading statements relating to the risks of investing in ZIV including that: (i) the inverse ETNs was not appropriate for managing daily trading risks; (ii) Credit Suisse had designed the ZIV to fail under certain market conditions; (iii) Credit Suisse had offered and sold more inverse ETNs than the market could bear, which would enable Credit Suisse to cause the collapse of the inverse ETNs when the opportunity presented itself; and (iv) Credit Suisse could actively manipulate inverse ETNs by precipitating an acute liquidity event in volatility markets including markets for VIX futures.
Shareholders may find more information at https://kseclaw.com/securities/velocityshares-daily-inverse-vix-medium-term-exchange-traded-notes-loss-submission-form/?wire=3
Corcept Therapeutics Incorporated (NASDAQCM: CORT)
Investors Affected: August 2, 2017 - February 5, 2019
A class action has commenced on behalf of certain shareholders in Corcept Therapeutics Incorporated. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company had improperly paid doctors to promote its drug Korlym; (2) the Company aggressively promoted Korlym for off-label uses; (3) the Company’s sole specialty pharmacy was a related party; (4) the Company artificially inflated its revenue and sales using illicit sales practices through a related party; (5) such practices are reasonably likely to lead to regulatory scrutiny; and (6) 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.
Shareholders may find more information at https://kclasslaw.com/securities/corcept-therapeutics-incorporated-loss-submission-form/?wire=3
Uxin Limited (NASDAQGS: UXIN)
Investors Affected: Pursuant and/or traceable to the Company’s Registration Statement and Prospectus issued in connection with the June 27, 2018 initial public offering
A class action has commenced on behalf of certain shareholders in Uxin Limited. The Registration Statement was materially false and misleading and omitted to state that: (1) Uxin was likely to stop providing complementary services such as inspections to its customers; (2) instead, Uxin would connect consumers to dealers who would provide such complementary services; (3) as a result, Uxin’s 2B business would be materially impacted; and (4) consequently, Defendants’ statements in the Registration Statement regarding Uxin’s business, operations, and prospects, were materially false and/or misleading.
Shareholders may find more information at https://kclasslaw.com/securities/uxin-limited-loss-submission-form/?wire=3
General Electric Company (NYSE: GE)
Investors Affected: December 27, 2017 - October 29, 2018
A class action has commenced on behalf of certain shareholders in General Electric Company. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the design and technology of GE Power’s flagship gas turbines were structurally flawed as they were plagued with an oxidation problem that caused the blades in the H-Class gas turbines to fail; (ii) GE Power’s goodwill was materially overstated, in large part because of such structural issues; (iii) the Company lacked adequate internal and financial controls; and (iv) as a result of the foregoing, Defendant’s public statements were materially false and/or misleading and/or lacked a reasonable basis.
Shareholders may find more information at https://kclasslaw.com/securities/general-electric-company-loss-submission-form/?wire=3
Kuznicki Law PLLC is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock.
Kuznicki Law PLLC
Daniel Kuznicki, Esq.
445 Central Avenue, Suite 344
Cedarhurst, NY 11516
Phone: (347) 696-1134
Cell: (347) 690-0692
Fax: (347) 348-0967