Jan 17, 2020 | Securities Class Action Archive
Kehoe Law Firm Investigating Securities Claims on Behalf of Investors of Portola Pharmaceuticals
Kehoe Law Firm, P.C. is investigating claims on behalf of investors of Portola Pharmaceuticals (“Portola” or the “Company”) (NasdaqGS: PTLA) for potential violations of the federal securities laws.
PTLA investors who purchased, or otherwise acquired, the securities of Portola Pharmaceuticals between November 5, 2019 and January 9, 2020, inclusive (the “Class Period”), are encouraged to contact Kehoe Law Firm, P.C. to discuss the investigation and potential claims.
A class action lawsuit has been filed against Portola on behalf of persons or entities that purchased, or otherwise acquired, Portola securities between November 5, 2019 and January 9, 2020, inclusive. The lawsuit is pursuing claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
According to the complaint, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about Portola’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Portola’s internal control over financial reporting regarding reserve for product returns was not effective; (2) that Portola was shipping longer-dated product with 36-month shelf life; (3) that Portola had not established adequate reserve for returns of prior shipments of short-dated product; (4) that, as a result, Portola was reasonably likely to need to “catch up” on accounting for return reserves; and (5) that, as a result of the foregoing, Defendants’ positive statements about Portola’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you wish to discuss the class action lawsuit, Kehoe Law Firm’s investigation or have questions about your potential legal rights, please contact either John Kehoe, Esq, (215) 792-6676, Ext. 801, [email protected], or Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], to learn more about the investigation or potential legal claims.
Jan 16, 2020 | Securities Class Action Archive
Opera Limited Shareholder Alert – Kehoe Law Firm, P.C. Investigating Securities Claims on Behalf of OPRA Shareholders
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of shareholders of Opera Limited (“Opera” or the “Company”) (NasdaqGS: OPRA) to determine whether Opera may have issued materially misleading information to the investing public in violation of the federal securities laws.
On January 16, 2020, Hindenburg Research published a report alleging, among other things, that “[m]ost of Opera’s lending business is operated through apps offered on Google’s Play Store. In August, Google tightened rules to curtail predatory lending and, as a result, Opera’s apps are now in black and white violation of numerous Google rules.” Further, Hindenburg Research stated that Opera, “[i]nstead of disclosing to investors that its “high-growth” microfinance segment could be imperiled by these new rules, Opera . . . immediately raised $82 million in a secondary offering without disclosing Google’s changes to investors.”
On this news, Opera’s stock price fell sharply during intraday trading on January 16, 2020, injuring investors.
A class action lawsuit was filed on behalf of all persons and entities who purchased, or otherwise acquired, the American Depositary Shares (“ADS”) of Opera Limited (i) pursuant and/or traceable to the Company’s initial public offering that commenced on or about July 27, 2018 (the “IPO” or “Offering”); and/or (ii) Opera securities between July 27, 2018 and January 15, 2020, inclusive (the “Class Period”). The class action lawsuit seeks to recover damages for Opera investors under the federal securities laws.
According to the lawsuit, the Offering Documents and defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that (1) Opera’s sustainable growth and market opportunity for its browser applications was significantly overstated; (2) Defendants’ funded, owned, or otherwise controlled, loan services applications and/or businesses relied on predatory lending practices; (3) all the foregoing, once revealed, were reasonably likely to have a material negative impact on Opera’s financial prospects, especially with respect to its lending applications’ continued availability on the Google Play Store; and (4) as a result, the Offering Documents and defendants’ statements were materially false and/or misleading and failed to state information required to be stated therein.
If you purchased, or otherwise acquired, OPRA securities pursuant and/or traceable to the IPO and/or during the Class Period and wish to discuss Kehoe Law Firm’s investigation, the class action lawsuit or have questions about your potential legal rights, please contact either John Kehoe, Esq, (215) 792-6676, Ext. 801, [email protected], or Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected].
Jan 16, 2020 | Securities Class Action Archive
500.com Shareholder Alert – Kehoe Law Firm, P.C. Investigating 500.com Limited
Kehoe Law Firm, P.C. is investigating claims on behalf of investors of 500.com Limited (“500.com” or the “Company”) (NYSE: WBAI) for potential violations of the federal securities laws.
500.com investors who purchased, or otherwise acquired, 500.com securities between April 27, 2018 and December 31, 2019, inclusive (the “Class Period”) are encouraged to contact Kehoe Law Firm, P.C. to discuss the investigation and potential claims.
On January 15, 2020, a class action lawsuit was filed on behalf of persons or entities who purchased, or otherwise acquired, publicly-traded 500.com securities between April 27, 2018 and December 31, 2019, inclusive. The class action lawsuit seeks to recover compensable damages for violations of the federal securities laws under the Securities Exchange Act of 1934.
According to the lawsuit, 500.com Defendants made false and/or misleading statements and/or failed to disclose that: (1) 500.com executives and consultants engaged in a bribery scheme with Japanese officials in an effort to gain favor in a bid to run an upcoming Japanese casino resort; (2) consequently, 500.com was in violation of Japanese anti-bribery laws and its Code of Ethics; and (3) 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.
If you wish to discuss the class action lawsuit, Kehoe Law Firm’s investigation or have questions about your potential legal rights, please contact either John Kehoe, Esq, (215) 792-6676, Ext. 801, [email protected], or Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], to learn more about the investigation or potential legal claims.
Dec 20, 2019 | Consumer Protection, Employment & Technology Archive
Malware Discovered on Wawa In-Store Payment Processing Systems At Potentially All Wawa Locations – Massive Data Breach Affected Wawa Customer Payment Card Information
On December 19, 2019, “An Open Letter from Wawa CEO Chris Gheysens to [Wawa] Customers” stated, among other things, that ” . . . Wawa . . . experienced a data security incident . . . on Wawa payment processing servers on December 10, 2019, and contained it by December 12, 2019.” The CEO’s “Notice of Data Breach” also stated that the ” . . . malware affected customer payment card information used at potentially all Wawa locations beginning at different points in time after March 4, 2019 and until it was contained.”
According to Wawa’s data breach notice, “. . . at different points in time after March 4, 2019, malware began running on in-store payment processing systems at potentially all Wawa locations. Although the dates may vary and some Wawa locations may not have been affected at all, this malware was present on most store systems by approximately April 22, 2019. [Wawa’s] information security team identified this malware on December 10, 2019, and by December 12, 2019, they had blocked and contained this malware.” [Emphasis added.]
Further, Wawa’s data breach notice stated that the
malware affected payment card information, including credit and debit card numbers, expiration dates, and cardholder names on payment cards used at potentially all Wawa in-store payment terminals and fuel dispensers beginning at different points in time after March 4, 2019 and ending on December 12, 2019. Most locations were affected as of April 22, 2019, however, some locations may not have been affected at all. No other personal information was accessed by this malware. Debit card PIN numbers, credit card CVV2 numbers (the three or four-digit security code printed on the card), other PIN numbers, and driver’s license information used to verify age-restricted purchases were not affected by this malware. If you did not use a payment card at a Wawa in-store payment terminal or fuel dispenser during the relevant time frame, your information was not affected by this malware. At this time, we are not aware of any unauthorized use of any payment card information as a result of this incident. The ATM cash machines in our stores were not involved in this incident. [Emphasis added.]
In addition to the data breach notice, Wawa has provided FAQs and other Resources for its customers.
Have You Been Impacted by A Data Breach?
If so, please either contact Kehoe Law Firm, P.C. Partner Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], complete the form on the right or send an e-mail to [email protected] for a free, no-obligation case evaluation of your facts to determine whether your privacy rights have been violated and whether there is a basis for a data privacy class action.
Examples of the type of relief sought by data privacy class actions, include, but are not limited to, reimbursement of identity theft losses and of out-of-pocket costs paid by data breach victims for protective measures such as credit monitoring services, credit reports, and credit freezes; compensation for time spent responding to the breach; imposition of credit monitoring services and identity theft insurance, paid for by the defendant company; and improvements to the defendant company’s data security systems.
Data privacy class actions are brought on a contingent-fee basis; thus, plaintiffs and the class members do not pay out-of-pocket attorney’s fees or litigation costs. Subject to court approval, attorney’s fees and litigation costs are derived from the recovery obtained for the class.
Dec 3, 2019 | Consumer Protection, Employment & Technology Archive
Database Run by TrueDialog Reportedly Left Unprotected
On December 1, 2019, TechCrunch.com reported (“Millions of SMS messages exposed in database security lapse”) that “[a] massive database storing tens of millions of SMS [] text messages, most of which were sent by businesses to potential customers, has been found online.” According to TechCrunch.com, the database of SMS messages is “. . . run by TrueDialog, a business SMS provider for businesses and higher education providers, which lets companies, colleges, and universities send bulk text messages to their customers and students.”
TechCrunch.com reported that “[t]he database stored years of sent and received text messages from its customers and processed by TrueDialog. But because the database was left unprotected on the internet without a password, none of the data was encrypted and anyone could look inside.”
Some of the data reviewed by TechCrunch.com, reportedly, “contained detailed logs of messages sent by customers who used TrueDialog’s system, including phone numbers and SMS message contents,” as well as “information about university finance applications, marketing messages from businesses with discount codes, and job alerts, among other things.”
The data, according to TechCrunch.com, “also contained sensitive text messages, such as two-factor codes and other security messages, which may have allowed anyone viewing the data to gain access to a person’s online accounts.” Further, “[m]any of the messages [TechCrunch.com] reviewed contained codes to access online medical services to obtain, and password reset and login codes for sites including Facebook and Google accounts[,] as well as “usernames and passwords of TrueDialog’s customers, which if used could have been used to access and impersonate their accounts.”
On December 1, 2019, PhoneArena.com reported (“Over 100 million Americans had their personal data exposed in major text data breach”) that “[t]he information available from the breached database not only includes tens of millions of texts from hundreds of millions of American users, it also contained millions of usernames, passwords (some in cleartext, others encoded but easy to decrypt) and more.” According to PhoneArena.com:
The database is hosted by Microsoft Azure and runs in the U.S. on the Oracle Marketing Cloud. It contains 1 billion entries adding up to 604GB of data. This data includes information about TrueDialog’s business, its business clients and the latter’s customers. All of this information could have been used by bad actors to steal identities and money from those with information exposed in the breach. Additionally, all of this data could have been sold to marketers and scammers. Knowing all of this information would make it easier for bad actors to engage in phishing schemes.
Have You Been Impacted by A Data Breach?
If so, please either contact Kehoe Law Firm, P.C. Partner Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], complete the form on the right or send an e-mail to [email protected] for a free, no-obligation case evaluation of your facts to determine whether your privacy rights have been violated and whether there is a basis for a data privacy class action.
Examples of the type of relief sought by data privacy class actions, include, but are not limited to, reimbursement of identity theft losses and of out-of-pocket costs paid by data breach victims for protective measures such as credit monitoring services, credit reports, and credit freezes; compensation for time spent responding to the breach; imposition of credit monitoring services and identity theft insurance, paid for by the defendant company; and improvements to the defendant company’s data security systems.
Data privacy class actions are brought on a contingent-fee basis; thus, plaintiffs and the class members do not pay out-of-pocket attorney’s fees or litigation costs. Subject to court approval, attorney’s fees and litigation costs are derived from the recovery obtained for the class.
