NEW YORK, NY / ACCESSWIRE / March 14, 2022 / 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.
ELMS Shareholders Click Here: https://www.zlk.com/pslra-1/electric-last-mile-solutions-inc-f-k-a-forum-merger-iii-corp-loss-submission-form?prid=24626&wire=1
EDU Shareholders Click Here: https://www.zlk.com/pslra-1/new-oriental-education-technology-group-inc-loss-submission-form?prid=24626&wire=1
MP Shareholders Click Here: https://www.zlk.com/pslra-1/mp-materials-corp-f-k-a-fortress-value-acquisition-corp-loss-submission-form?prid=24626&wire=1
* ADDITIONAL INFORMATION BELOW *
Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. (NASDAQ:ELMS)
ELMS Lawsuit on behalf of: investors who purchased March 31, 2021 - February 1, 2022
Lead Plaintiff Deadline : April 4, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/electric-last-mile-solutions-inc-f-k-a-forum-merger-iii-corp-loss-submission-form?prid=24626&wire=1
According to the filed complaint, during the class period, Electric Last Mile Solutions, Inc. f/k/a Forum Merger III Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) ELMS's previously issued financial statements were false and unreliable; (2) ELMS's earlier reported financial statements would need restatement; (3) certain ELMS executives and/or directors purchased equity in the Company at substantial discounts to market value without obtaining an independent valuation; (4) on November 25, 2021 (Thanksgiving), the Company's Board formed an independent Special Committee to conduct an inquiry into certain sales of equity securities made by and to individuals associated with the Company; and (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
New Oriental Education & Technology Group Inc. (NYSE:EDU)
EDU Lawsuit on behalf of: investors who purchased April 24, 2018 - July 22, 2021
Lead Plaintiff Deadline : April 5, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/new-oriental-education-technology-group-inc-loss-submission-form?prid=24626&wire=1
According to the filed complaint, during the class period, New Oriental Education & Technology Group Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) New Oriental's revenue and operational growth was the result of deceptive marketing tactics and abusive business practices that flouted Chinese regulations and policies and exposed the Company to an extreme risk that more draconian measures would be imposed on the Company; (b) New Oriental had engaged in misleading and fraudulent advertising practices, including the provision of false and misleading discount Information designed to obfuscate the true cost of the Company's programs to its customers; (c) New Oriental had falsified teacher qualifications and experience in order to attract customers and increase student enrollments; (d) New Oriental had defied prior government warnings against linking school enrollments with the provision of private tutoring services; (e) as a result of the foregoing, New Oriental was subject to an extreme undisclosed risk of adverse enforcement actions, regulatory fines and penalties, and the imposition of new rules and regulations adverse to the Company's business and interests; and (f) as a result of the foregoing, defendants' positive statements about the Company's business, operations, and prospects were materially misleading and lacked a reasonable, factual basis.
MP Materials Corp. f/k/a Fortress Value Acquisition Corp. (NYSE:MP)
MP Lawsuit on behalf of: investors who purchased May 1, 2020 - February 2, 2022
Lead Plaintiff Deadline : April 25, 2022
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/mp-materials-corp-f-k-a-fortress-value-acquisition-corp-loss-submission-form?prid=24626&wire=1
According to the filed complaint, during the class period, MP Materials Corp. f/k/a Fortress Value Acquisition Corp. made materially false and/or misleading statements and/or failed to disclose that: (i) Fortress Value Acquisition Corp. ("FVAC") had overstated its due diligence efforts and expertise with respect to identifying target companies to acquire; (ii) FVAC performed inadequate due diligence into Legacy MP Materials prior to the business combination, or else ignored significant red flags regarding, inter alia, Legacy MP Materials' management, compliance policies, and Mountain Pass's profitability; (iii) as a result, the Company's future business and financial prospects post-business combination were overstated; (iv) MP Materials engaged in an abusive transfer price manipulation scheme with a related party in the People's Republic of China to artificially inflate the Company's profits; (v) MP Materials' ore at the Mountain Pass Rare Earth Mine and Processing Facility was not economically viable to harvest for rare earth metals; and (vi) 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