The Gross Law Firm Announces Class Actions on Behalf of Shareholders of HCSG, ARA and NTNX
Friday, May 17, 2019 3:35 PM
NEW YORK, NY / ACCESSWIRE / May 17, 2019 / The securities litigation law firm of The Gross Law Firm 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.
Healthcare Services Group, Inc. (NASDAQ: HCSG)
Investors Affected : April 11, 2017 - March 4, 2019
A class action has commenced on behalf of certain shareholders in Healthcare Services Group, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) Defendant Wahl either knew or was reckless in not knowing that the Company had been accused of strategically rounding quarterly earnings per share, and therefore investors could not rely upon the Company's track record without conducting a thorough investigation into the allegations; (b) Defendants concealed that the SEC had written to the Company in November 2017 to inquire into the Company's earnings per share rounding practices; and (c) the Company concealed that the SEC delivered a subpoena to the Company in March 2018 demanding the Company produce documents in connection with how it calculated earnings per share.
Shareholders may find more information at https://securitiesclasslaw.com/securities/healthcare-services-group-inc/?id=1566&from=1
American Renal Associates Holdings, Inc. (NYSE: ARA)
Investors Affected : August 10, 2016 - March 27, 2019
A class action has commenced on behalf of certain shareholders in American Renal Associates Holdings, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) issues with American Renal's accounting process for revenue recognition, collections, and related matters would give rise to a U.S. Securities and Exchange Commission ("SEC") investigation into the same, and increased regulatory scrutiny by the SEC; (2) financial statements for the fiscal years 2014, 2015, 2016 and 2017 contained in its Annual Reports for the years ended December 31, 2016 and 2017, and its condensed consolidated financial statements in quarterly reports from 2016 through 2018, were false and could not be relied upon; (3) American Renal had material weaknesses in its internal control over financial reporting; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://securitiesclasslaw.com/securities/american-renal-associates-holdings-inc/?id=1566&from=1
Nutanix, Inc. (NASDAQGS: NTNX)
Investors Affected : Class A shares purchased between March 2, 2018 and February 28, 2019
A class action has commenced on behalf of certain shareholders in Nutanix, Inc. The complaint concerns whether the Company and its executives violated federal securities laws by making false and/or misleading statements about its investments in growth and its maintenance of high profit margins.
On February 28, 2019, Nutanix announced its second quarter fiscal 2019 results and reported third quarter guidance that was below analysts' expectations. Management acknowledged that "inadequate marketing spend for pipeline generation and slower than expected sales hiring" were the reasons for the weak guidance. On this news, Nutanix's share price fell from $50.09 per share on February 28, 2019 to a closing price of $33.70 on March 1, 2019.
Shareholders may find more information at https://securitiesclasslaw.com/securities/nutanix-inc/?id=1566&from=1
The Gross Law Firm 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.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: [email protected]
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm