CLASS ACTION UPDATE for STG, FRED and LB: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
Thursday, August 1, 2019 7:35 PM
NEW YORK, NY / ACCESSWIRE / August 1, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. To determine your eligibility and get free access to our shareholder support tools that provide you with case updates, automated loss calculations and claims recovery assistance, please contact the firm via the links below. There will be no cost or obligation to you.
Sunlands Technology Group (NYSE: STG)
Lawsuit on behalf of: investors who purchased shareholders of Sunlands Technology Group who purchased shares pursuant and/or traceable to Sunlands’ March 2018 initial public stock offering.
Lead Plaintiff Deadline : August 26, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/sunlands-technology-group-loss-form?prid=2720&wire=1
According to the filed complaint, (1) Sunlands’ student enrollment was declining; (2) Sunlands’ gross billings were declining; (3) Sunlands' marketing tactics were not as robust as described in the Registration Statement; and (4) as a result, Defendants’ statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Fred's, Inc. (NASDAQGS: FRED)
Lawsuit on behalf of: investors who purchased December 20, 2016 - June 28, 2017
Lead Plaintiff Deadline : August 27, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/freds-inc-loss-form?prid=2720&wire=1
According to the filed complaint, defendants made numerous materially false and misleading statements concerning the level of regulatory risk faced by the Original Merger and the Revised Merger which would ultimately cause the termination of the Fred’s Asset Purchase Agreement. Specifically, Defendants made false and/or misleading statements: (i) downplaying or disputing contrary reports from journalists signaling regulatory turbulence in closing the merger; (ii) representing that inside knowledge of the FTC gave confidence that the deal would close.
L Brands, Inc. (NYSE: LB)
Lawsuit on behalf of: investors who purchased May 31, 2018 - November 19, 2018
Lead Plaintiff Deadline : September 23, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/l-brands-inc-loss-form?prid=2720&wire=1
According to the filed complaint, during the class period, L Brands, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) the Victoria’s Secret and PINK businesses were having a material adverse effect on the Company’s cash flow, liquidity and debt levels; (b) Defendants lacked a reasonable basis for their positive statements about the ability of the Company to sustain its dividend; (c) the MD&A disclosures in filings L Brands made with the SEC were materially false and misleading; (d) the risk factor disclosures in filings L Brands made with the SEC were materially false and misleading; (e) the representations about L Brands’ disclosure controls in filings the Company made with the SEC were materially false and misleading; (f) the certifications issued by Defendants Wexner and Burgdoerfer on L Brands disclosure controls were materially false and misleading; and (g) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about L Brands’ then-current business operations and future financial
You have until the lead plaintiff deadlines to request that the court appoint you 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
Fax: (212) 363-7171
SOURCE: Levi & Korsinsky, LLP