CLASS ACTION UPDATE for CARB, CAH and NTAP: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
Friday, September 13, 2019 3:30 PM
NEW YORK, NY / ACCESSWIRE / September 13, 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. (NASDAQGM: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=3492&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.
Cardinal Health, Inc. (NYSE:CAH)
Lawsuit on behalf of: investors who purchased March 2, 2015 - May 2, 2018
Lead Plaintiff Deadline : September 30, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/cardinal-health-inc-loss-form?prid=3492&wire=1
According to the filed complaint, during the class period, Cardinal Health, Inc. made materially false and/or misleading statements and/or failed to disclose that: 1) following Cardinal's acquisition of Cordis, the RFID [radio-frequency identification] inventory tracking technology and advanced supply chain solutions that Defendants told investors the Company would to use to improve Cordis’s performance were never implemented across Cordis; 2) Cordis’s antiquated and ineffective global supply chain was causing operational and inventory problems at Cordis; 3) as a result, Cordis manufactured and accumulated excessive amounts of cardiovascular product inventories, which sat on the shelf and became unsellable and/or expired; 4) the Company materially overstated Cordis’s inventory balances; 5) Cordis was not “performing well” and its integration was not “on track,” “going incredibly well” or “largely on plan"; and 6) to correct Cordis’s deficiencies, the Company would have to make substantial investments in Cordis’s IT and supporting infrastructure, thereby incurring significant Selling, General and Administrative Expenses charges beyond the levels internally budgeted or projected by Cardinal and diminishing operating earnings.
NetApp, Inc. (NASDAQGS:NTAP)
Lawsuit on behalf of: investors who purchased May 22, 2019 - August 1, 2019
Lead Plaintiff Deadline : October 15, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/netapp-inc-loss-form?prid=3492&wire=1
According to the filed complaint, during the class period, NetApp, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was unable to close large deals within the quarter and that the deals were pushed out to subsequent quarters or downsized; (2) as a result, the Company’s revenue would be materially impacted; (3) as a result, the Company would lower its fiscal 2020 guidance; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially 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