The Gross Law Firm Announces Class Actions on Behalf of Shareholders of LBRT, BIDU and DNK
Wednesday, May 20, 2020 2:20 PM
NEW YORK, NY / ACCESSWIRE / May 20, 2020 / 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.
Liberty Oilfield Services, Inc. (NYSE:LBRT)
The LBRT Lawsuit is on behalf of investors who purchased securities pursuant and/or traceable to the documents issued in connection with the Company's January 2018 initial public offering.
A class action has commenced on behalf of certain shareholders in Liberty Oilfield Services, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) there was an oversupply in the hydraulic fracturing services market; (2) the Company's pricing power was weak; (3) Liberty's services were not increasing and its competition was not decreasing; and (4) as a resul.t, 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.
Shareholders may find more information at https://securitiesclasslaw.com/securities/liberty-oilfield-services-inc-loss-submission-form/?id=6737&from=1
Baidu, Inc. (NASDAQ:BIDU)
Investors Affected: March 16, 2019 - April 7, 2020
A class action has commenced on behalf of certain shareholders in Baidu, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Baidu's feed services were not in compliance with applicable Chinese regulatory standards; (ii) the foregoing noncompliance subjected the Company to a heightened risk of regulatory enforcement, including the removal or suspension of certain of Baidu's services and products; (iii) accordingly, the Company's revenues derived from online marketing services were unlikely to be sustainable; 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/baidu-inc-loss-submission-form/?id=6737&from=1
Phoenix Tree Holdings Limited (NYSE:DNK)
Investors affected purchased American Depositary Shares ("ADS") of Phoenix pursuant and/or traceable to prospectuses and registration statements issued in connection with the Company's January 2020 initial public offering.
A class action has commenced on behalf of certain shareholders in Phoenix Tree Holdings Limited. According to the filed complaint, the documents Phoenix Tree issued in connection with its initial public offering ("IPO") omitted or otherwise misrepresented the nature and level of renter complaints the Company had received before and as of the IPO, as well as the demand in the Chinese residential rental market and the Company's exposure to significant adverse developments resulting from the onset of the coronavirus in China - particularly in Wuhan - at the time of the IPO. After the IPO, reports emerged, indicating that Phoenix was experiencing ongoing problems due to the coronavirus, which was causing financial and other harm to tenants.
Shareholders may find more information at https://securitiesclasslaw.com/securities/phoenix-tree-holdings-limited-loss-submission-form/?id=6737&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