CLASS ACTION UPDATE for BV, LYFT and FLEX: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
Sunday, May 26, 2019 10:40 AM
NEW YORK, NY / ACCESSWIRE / May 26, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found at the links provided.
BrightView Holdings, Inc. (NYSE: BV)
Class Period: Purchasers of common stock pursuant to the IPO completed around July 2, 2018
Lead Plaintiff Deadline : June 14, 2019
Join the action: https://www.zlk.com/pslra-1/brightview-holdings-inc-loss-form?prid=1674&wire=1.
The complaint alleges that the defendants made materially false and/or misleading statements in the Offering Documents relating to the IPO, including omitting or failing to disclose that: (i) a material portion of BrightView's contracts were underperforming and/or represented undesirable costs to the Company; (ii) as a result of the foregoing, BrightView would implement a "managed exit" strategy to end its low margin and non-profitable contracts with customers; (iii) this "managed exit" strategy would negatively impact BrightView's future revenue throughout 2018, and would continue to do so well into fiscal year 2019; and (iv) as a result, the Offering Documents were materially false and/or misleading and failed to state information required to be stated therein.
To learn more about the BrightView Holdings, Inc. class action contact [email protected].
Lyft, Inc. (NASDAQGS: LYFT)
Class Period: pursuant or traceable to the Company's Offering and Registration Statement issued in relation to the March 28, 2019 IPO
Lead Plaintiff Deadline : July 16, 2019
Join the action: https://www.zlk.com/pslra-1/lyft-inc-loss-form?prid=1674&wire=1.
According to the lawsuit, Lyft's Offering materials issued in connection with its IPO failed to disclose that: (1) Lyft's claimed ridesharing position was overstated; (2) more than 1,000 of the bicycles in Lyft's rideshare program suffered from safety issues that would lead to their recall; (3) Lyft's drivers were becoming disincentivized from driving for Lyft; (4) Lyft failed to warn investors that a labor disruption could affect its operations; and (5) as a result, Lyft's public statements were materially false and misleading at all relevant times.
To learn more about the Lyft, Inc. class action contact [email protected].
Flex Ltd. (NASDAQ: FLEX)
Class Period: January 26, 2017 - October 25, 2018
Lead Plaintiff Deadline : June 4, 2019
Join the action: https://www.zlk.com/pslra-1/flex-ltd-loss-form?prid=1674&wire=1.
The complaint alleges that Defendants consistently assured the market that (1) the Company's internal controls over financial reporting, including those related to customer contracts, were adequate and proper, and (2) the most crucial contract in the Company's pipeline, a massive and very expensive contract with Nike to automate sneaker manufacturing, was repeatedly hitting key milestones while timely proceeding on a steady trajectory to profitability. Defendants failed to disclose or warn the market of material facts showing that the Nike contract was failing operationally and not commercially viable, instead pointing to purported accomplishments and a timely trajectory to breaking even
To learn more about the Flex Ltd. class action contact [email protected].
You have until the lead plaintiff deadlines to request the court appoint as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
SOURCE: Levi & Korsinsky, LLP