NEW YORK, NY / ACCESSWIRE / October 26, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.
POR Shareholders Click Here: https://www.zlk.com/pslra-1/portland-general-electric-company-information-request-form?prid=10439&wire=1
UPLCQ Shareholders Click Here: https://www.zlk.com/pslra-1/ultra-petroleum-corp-information-request-form?prid=10439&wire=1
CLNC Shareholders Click Here: https://www.zlk.com/pslra-1/colony-credit-real-estate-inc-information-request-form?prid=10439&wire=1
* ADDITIONAL INFORMATION BELOW *
Portland General Electric Company (NYSE: POR)
POR Lawsuit on behalf of: investors who purchased February 13, 2020 - August 24, 2020
Lead Plaintiff Deadline : November 2, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/portland-general-electric-company-information-request-form?prid=10439&wire=1
According to the filed complaint, during the class period, Portland General Electric Company made materially false and/or misleading statements and/or failed to disclose that: (1) PGE lacked effective internal controls over its energy trading practices; (2) PGE personnel had entered energy trades during 2020, with increasing volume accumulating late in the second quarter and into the third quarter, that created significant negative financial exposure for PGE; (3)as a result, the Company was reasonably likely to incur significant losses; 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.
Ultra Petroleum Corp. (OTC PINK: UPLCQ)
UPLCQ Lawsuit on behalf of: investors who purchased April 3, 2017 - August 8, 2019
Lead Plaintiff Deadline : November 2, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/ultra-petroleum-corp-information-request-form?prid=10439&wire=1
According to the filed complaint, during the class period, Ultra Petroleum Corp. made materially false and/or misleading statements and/or failed to disclose that: (a) Ultra's proved reserves were materially overstated and, therefore, worth hundreds of millions of dollars less than represented; (b) Ultra's proved undeveloped reserves were of de minimis value because they contained low quality deposits that lacked a commercially viable path to development; (c) Ultra was unable to meet the production and development estimates provided to investors and such estimates lacked a reasonable basis; (d) Ultra was unable to withstand even a modest downturn in the price of natural gas because, inter alia, Ultra's business had less financial and production flexibility than claimed; and (e) Ultra did not have the technical or financial capabilities or available asset base to sustainably grow its oil and natural gas production by any meaningful amount.
Colony Credit Real Estate, Inc. (NYSE: CLNC)
This lawsuit is on behalf of persons and/or entities who purchased or otherwise acquired the common stock of Colony Credit pursuant and/or traceable to the Company's false and/or misleading Registration Statement and Prospectus issued in connection with the combination of Colony NorthStar, Inc., NorthStar Real Estate Income Trust, Inc., and NorthStar Real Estate Income II, Inc. on or about February 1, 2018 (the "Merger").
Lead Plaintiff Deadline : November 9, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/colony-credit-real-estate-inc-information-request-form?prid=10439&wire=1
According to the filed complaint, (i) the credit quality of certain of the Company's assets had deteriorated prior to the Merger, and were continuing to deteriorate at the time of the Merger; (ii) certain of the Company's loans, including four loans of approximately $261 million related to a New York hotel, were substantially impaired, there was insufficient collateral to secure the loans, and it was unlikely that the loans would be repaid; (iii) as a result, the valuation attributed to certain of the Company's assets was overstated; (iv) that certain of the assets contributed as part of the Merger were of substantially lower value than reflected in the Company's financial statements and the Registration Statement; (v) as a result, the Company's financial condition, including its book value, was materially overstated; and (vi) as a result of the foregoing, the positive statements in the Registration Statement about the Company's business, operations, and prospect 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 nationally recognized 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.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
[email protected]
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP