The Gross Law Firm Announces Class Actions on Behalf of Shareholders of VNTR, MMM and RBGLY
Thursday, August 15, 2019 10:50 AM
NEW YORK, NY / ACCESSWIRE / August 15, 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.
Venator Materials PLC (NYSE:VNTR)
Investors Affected : (a) between August 2, 2017 and October 29, 2018, inclusive; (b) in or traceable to the Company’s initial public offering conducted on or around August 3, 2017; and (c) in or traceable to the Company’s secondary public offering conducted on or around December 4, 2017.
A class action has commenced on behalf of certain shareholders in Venator Materials PLC. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) the fire damage at the Pori facility was far more extensive than disclosed to investors, rendering the facility beyond repair; (b) the true cost of the Pori facility fire exceeded $1 billion, hundreds of millions of dollars beyond the limits of the Company’s insurance policy; (c) the Company was paying rebuilding premiums, and thereby incurring tens of millions of dollars in additional costs, in a futile attempt to expedite the rehabilitation process; (d) Venator had lost, essentially without prospect of rehabilitation, 80% of the production capacity of the Pori facility, and thus lost a substantial portion of one of its largest revenue producing assets; and (e) the Company’s reported annual Titanium Dioxide production capacity had been inflated by approximately 104,000 metric tons, or 15%.
Shareholders may find more information at https://securitiesclasslaw.com/securities/venator-materials-plc-loss-submission-form/?id=2973&from=1.
3M Company (NYSE:MMM)
Investors Affected : February 9, 2017 - May 28, 2019
A class action has commenced on behalf of certain shareholders in 3M Company. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) 3M had vast internal evidence dating back decades confirming that polyfluoroalkyl substances (“PFAS”) are toxic (which was first publicly revealed in February 2018 by Minnesota’s Attorney General); (ii) 3M had a decades-long history of suppressing negative information and/or damaging data about PFAS; and (iii) 3M has legal exposure to state, county, and local governments and individuals around the country as a result of its knowledge and intentional concealment of the toxic harm caused by the use of PFAS.
Shareholders may find more information at https://securitiesclasslaw.com/securities/3m-company-loss-submission-form/?id=2973&from=1.
Reckitt Benckiser Group plc (OTC PINK:RBGLY)
Investors Affected : On behalf of all purchasers of Reckitt American Depositary Shares (“ADSs”) from July 28, 2014 through April 9, 2019
A class action has commenced on behalf of certain shareholders in Reckitt Benckiser Group plc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) defendants had engaged in a scheme to artificially inflate the sales of Suboxone Film by more than $3 billion by falsely touting the drug’s purportedly superior efficacy and safety as compared to tablets; (b) contrary to defendants’ public statements, the FDA and internal Company documents had concluded that Suboxone Film posed a potentially greater risk of abuse and child endangerment than other available treatments; (c) defendants had fabricated a safety scare involving Suboxone Tablets in order to unlawfully delay and prevent generic competition; (d) defendants had engaged in a massive marketing campaign that had misrepresented the purported benefits of Suboxone Film as compared to Suboxone Tablets to doctors, healthcare providers, government regulators and investors; (e) defendants had encouraged Suboxone sales through medical providers that they knew were overprescribing the drug, facilitating the drug’s abuse and/or prescribing it in a careless and clinically unwarranted manner, often to hundreds of individuals at a time; (f) as a result of (a)-(e) above, Reckitt’s revenues, net income an d earnings were artificially inflated and the product of illicit business practices; and (g) as a result of (a)-(f) above, Reckitt and Reckitt Pharma were exposed to extraordinary undisclosed legal and reputational risks that could result in billions of dollars in fines, lost business and legal judgments or other monetary penalties.
Shareholders may find more information at https://securitiesclasslaw.com/securities/reckitt-benckiser-group-plc-loss-submission-form/?id=2973&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. Attorney advertising. Prior results do not guarantee similar outcomes.
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