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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of DBX, MO and RUHN

Monday, 18 November 2019 10:50 AM

The Gross Law Firm

Topic:
5

NEW YORK, NY / ACCESSWIRE / November 18, 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.

Dropbox, Inc. (NASDAQGS:DBX)

Investors Affected: on behalf of all persons who purchased Dropbox Class A common stock pursuant or traceable to the registration statement issued in connection with the Company’s March 23, 2018 initial public offering.

A class action has commenced on behalf of certain shareholders in Dropbox, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Dropbox had materially overstated its ability to monetize its user base; (2) Dropbox was facing worsening revenue trends, which were negatively impacting the Company at the time of the initial public offering ("IPO"); (3) Dropbox was tracking below its internal revenue and monetization targets at the time of the IPO; and (4) as a result, defendants’ statements about Dropbox’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/dropbox-inc-loss-submission-form/?id=4453&from=1.

Altria Group, Inc. (NYSE:MO)

Investors Affected: December 20, 2018 - September 24, 2019

A class action has commenced on behalf of certain shareholders in Altria Group, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Altria had conducted insufficient due diligence into JUUL prior to the Company’s $12.8 billion investment, or 35% stake, in JUUL; (ii) Altria consequently failed to inform investors, or account for, material risks associated with JUUL’s products and marketing practices, and the true value of JUUL and its products; (iii) all of the foregoing, as well as mounting public scrutiny, negative publicity, and governmental pressure on e-vapor products and JUUL made it reasonably likely that Altria’s investment in JUUL would have a material negative impact on the Company’s reputation and operations; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/altria-group-inc-loss-submission-form/?id=4453&from=1.

Ruhnn Holding Limited (NASDAQ:RUHN)

Investors Affected: all persons or entities who purchased Ruhnn American Depositary Shares pursuant and/or traceable to the Company’s April 3, 2019 initial public offering.

A class action has commenced on behalf of certain shareholders in Ruhnn Holding Limited. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) at the time of the initial public offering ("IPO"), the number of Ruhnn's online stores had declined by nearly 40%; (2) at the time of the IPO, the number of Ruhnn's full-service Key Opinion Leaders had declined by nearly 44%; (3) as a result, the Company's net revenues derived from its full-service segment had declined by 46% on a sequential basis; and (3) as a result, defendants' statements about Ruhnn's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/ruhnn-holding-limited-loss-submission-form/?id=4453&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.

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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