CLASS ACTION UPDATE for CARB, TWOU and EVH: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
Friday, August 16, 2019 12:40 PM
NEW YORK, NY / ACCESSWIRE / August 16, 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.
Carbonite, Inc. (NASDAQ:CARB)
Lawsuit on behalf of: investors who purchased February 7, 2019 - July 25, 2019
Lead Plaintiff Deadline : September 30, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/carbonite-inc-loss-form?prid=3006&wire=1
According to the filed complaint, during the class period, Carbonite, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Carbonite’s Server Backup VM Edition was of poor quality and technologically flawed; (ii) Carbonite was receiving poor reviews and complaints from customers about the Server Backup VM Edition; (iii) the poor quality and technological flaws of the Server Backup VM Edition was acting as a “disruptive” factor throughout the Carbonite salesforce and keeping that sales organization from closing opportunistically on several larger deals during fiscal 2019; and (iv) as a result of the foregoing, Carbonite lacked any reasonable basis for issuing its positive projections and financial forecasts.
2U, Inc. (NASDAQ:TWOU)
Lawsuit on behalf of: investors who purchased February 26, 2018 - July 30, 2019
Lead Plaintiff Deadline : October 7, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/2u-inc-loss-form?prid=3006&wire=1
According to the filed complaint, during the class period, 2U, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) 2U’s business model was fundamentally flawed because the Company’s costs were growing disproportionately as it grew in size and complexity; (b) 2U could not take advantage of the promised economies of scale because its costs to attract each marginal student were actually increasing, not decreasing, as represented; (c) 2U was facing heightened competitive headwinds as alternative offerings flooded the marketplace and universities developed online courses in-house; (d) 2U’s growth rate in student enrollment was decelerating and was poised to decline as the Company reached market saturation; (e) 2U’s growth strategy was unsustainable, as the Company faced accelerating costs and had insufficient capital to achieve positive cash flows, improve margins or continue its revenue growth; and (f) as a result of (a)-(e), above, Defendants lacked any reasonable basis to issue 2U’s projections and financial forecasts.
Evolent Health, Inc. (NYSE:EVH)
Lawsuit on behalf of: investors who purchased March 3, 2017 - May 28, 2019
Lead Plaintiff Deadline : October 7, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/evolent-health-inc-loss-form?prid=3006&wire=1
According to the filed complaint, during the class period, Evolent Health, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Evolent's partnership model was not aligned with its partners, as it was designed to parasitically increase its own revenue by extracting enormous administrative and management fees at the expense of its partners such as Passport Health Plan ("Passport"); (2) Passport was struggling financially, particularly after Kentucky cut its reimbursement rates, and the partnership between Evolent and Passport was becoming increasingly unsustainable; (3) Evolent was draining Passport of functions, employees, and money to such an extent that Passport was left on the verge of insolvency; (4) for several months, Passport was conducting a bidding process to sell itself to a financial buyer to prevent liquidation; and (5) as a result of the foregoing, Defendants public statements were materially false and/or misleading and/or lacked a reasonable basis.
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