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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of MOMO, CBL and AOS

Monday, 17 June 2019 07:10 PM

The Gross Law Firm

Topic:
5

NEW YORK, NY / ACCESSWIRE / June 17, 2019 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

Momo Inc. (NASDAQ: MOMO)

Investors Affected : April 21, 2014 - April 29, 2019

A class action has commenced on behalf of certain shareholders in Momo Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Momo's compliance procedures and controls were inadequate to prevent, inter alia, illicit financial reporting activity; (ii) Momo's social and dating app, Tantan, was materially noncompliant with PRC law and/or regulations; (iii) Tantan was consequently at an increased risk of being removed from Chinese app stores at the direction of Chinese governmental authorities; and (iv) as a result, Momo's public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/momo-inc/?id=1975&from=1

CBL & Associates Properties, Inc (NYSE: CBL)

Investors Affected : November 8, 2017 - March 26, 2019

A class action has commenced on behalf of certain shareholders in CBL & Associates Properties, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: the Company was the target of a class action suit that could result in tens of millions or even hundreds of millions of dollars in liability. The Complaint further alleges that Defendants completely ignored their disclosure obligation, motivated by a desire to avoid bad publicity surrounding their dishonest nature and their dishonest conduct. When the truth was revealed, CBL shares materially declined in price, injuring the class.

Shareholders may find more information at https://securitiesclasslaw.com/securities/cbl-associates-properties-inc-loss-submission-form/?id=1975&from=1

A. O. Smith Corporation (NYSE: AOS)

Investors Affected : July 26, 2016 - May 16, 2019

A class action has commenced on behalf of certain shareholders in A O Smith Corporation. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) A.O. Smith had undisclosed business connections and entanglements with UTP through which it funneled up to 75% of its China product sales; (b) A.O. Smith had used UTP to engage in channel stuffing by artificially inflating inventories purportedly sold through distributors that were not based on consumer demand, thereby approximately doubling the normal level of inventory at such distributors; (c) A.O. Smith had used its UTP relationship to artificially inflate the sales figures it reported to investors by as much as 8% and to conceal worsening sales trends that the Company was experiencing in China; (d) A.O. Smith's sales growth had been primarily in lower margin products as its higher priced products were being undercut by competition in "second-tier" Chinese cities, causing the Company to experience significant margin pressures; (e) A.O. Smith had increased its cash reserves in China to over $530 million in furtherance of its channel stuffing and sales manipulation scheme, encumbering the Company's ability to repatriate the cash or use it for capital expenditures; and (f) as a result of (a)-(e) above, A.O. Smith's business, operations, and prospects were significantly worse than publicly represented and the Company was poised for sales and earnings declines in China, its most important international market.

Shareholders may find more information at https://securitiesclasslaw.com/securities/a-o-smith-corporation-loss-submission-form/?id=1975&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.

CONTACT:

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

Topic:
5
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