CLASS ACTION UPDATE for RMO, UI and SPCE: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
Back to Newsroom
Mentioned in this Article

CLASS ACTION UPDATE for RMO, UI and SPCE: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

Thursday, June 10, 2021 5:40 AM
Share this article now
Topic:
Lawsuits

NEW YORK, NY / ACCESSWIRE / June 10, 2021 / 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.

RMO Shareholders Click Here: https://www.zlk.com/pslra-1/romeo-power-inc-loss-submission-form?prid=16758&wire=1
UI Shareholders Click Here: https://www.zlk.com/pslra-1/ubiquiti-inc-loss-of-submission-form?prid=16758&wire=1
SPCE Shareholders Click Here: https://www.zlk.com/pslra-1/virgin-galactic-holdings-inc-loss-submission-form?prid=16758&wire=1

* ADDITIONAL INFORMATION BELOW *

Romeo Power, Inc. (NYSE:RMO)

RMO Lawsuit on behalf of: investors who purchased October 5, 2020 - March 30, 2021
Lead Plaintiff Deadline : June 15, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/romeo-power-inc-loss-submission-form?prid=16758&wire=1

According to the filed complaint, during the class period, Romeo Power, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Romeo had only two battery cell suppliers, not four, (ii) the future potential risks that Defendants warned of concerning supply disruption or shortage had already occurred and were already negatively affecting Romeo's business, operations and business prospects, (iii) Romeo did not have the battery cell inventory to accommodate end-user demand and ramp up production in 2021, (iv) Romeo's supply constraint was a material hindrance to Romeo's revenue growth, and (v) Romeo's supply chain for battery cells was not hedged, but in fact, was totally at risk and beholden to just two battery cell suppliers and the spot market for their 2021 inventory. Given the supply constraint that Romeo was experiencing during the Class Period, Defendants had no reasonable basis to represent that the Company had the ability to meet customer demand and that it would support growth in revenue in 2021.

Ubiquiti Inc. (NYSE:UI)

UI Lawsuit on behalf of: investors who purchased January 11, 2021 - March 20, 2021
Lead Plaintiff Deadline : July 19, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/ubiquiti-inc-loss-of-submission-form?prid=16758&wire=1

According to the filed complaint, during the class period, Ubiquiti Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company had downplayed the data breach in January 2021; (2) attackers had obtained administrative access to Ubiquiti's servers and obtained access to, among other things, all databases, all user database credentials, and secrets required to forge single sign-on (SSO) cookies; (3) as a result, intruders already had credentials needed to remotely access Ubiquiti's customers' systems; 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.

Virgin Galactic Holdings, Inc. (NYSE:SPCE)

SPCE Lawsuit on behalf of: investors who purchased October 26, 2019 - April 30, 2021
Lead Plaintiff Deadline : July 27, 2021
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/virgin-galactic-holdings-inc-loss-submission-form?prid=16758&wire=1

According to the filed complaint, during the class period, Virgin Galactic Holdings, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) for accounting purposes, Social Capital Hedosophia Holdings Corp.'s ("SCH") warrants were required to be treated as liabilities rather than equities; (ii) Virgin Galactic had deficient disclosure controls and procedures and internal control over financial reporting; (iii) as a result, the Company improperly accounted for SCH warrants that were outstanding at the time of the business combination; and (iv) as a result, the Company's public statements were materially false and misleading at all relevant times.

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.
Eduard Korsinsky, 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

Levi & Korsinsky, LLP
Back to Newsroom
{{msgBox.title}}

that

Copyright 2021 © ACCESSWIRE. All rights reserved. Privacy Policy  |   Terms and Conditions