Mar 30, 2020 | Securities Class Action Archive
Class Action Lawsuit Filed Expanding the Class Period for Sterling Bancorp, Inc. Investors Who Purchased, Or Otherwise Acquired, SBT Shares Between November 17, 2017 and March 17, 2020, Both Dates Inclusive – Sterling Bancorp Investors Who Suffered Losses During the Class Period Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is making investors aware that another class action lawsuit was filed on March 27, 2020 in United States District Court, Eastern District of Michigan, against Sterling Bancorp, Inc. (NasdaqGS: SBT) on behalf of all persons and entities who purchased, or otherwise acquired, Sterling common stock from November 17, 2017 through and including March 17, 2020, (the “Class Period”),
The class action seeks to recover damages pursuant to §10(b) and §20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The class action also alleges claims under §§11,12(a)(2) and 15 of the Securities Act of 1933 on behalf of members of the Class that purchased, or otherwise acquired, Sterling Bancorp common stock in or traceable to Sterling Bancorp’s Initial Public Offering (“IPO”), which commenced on November 17, 2017.
Sterling Bancorp investors who purchased, or otherwise acquired, securities during the Class Period November 17, 2017 through and including March 17, 2020 and suffered losses are encouraged to contact either Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], or John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], to discuss the class action lawsuit or potential legal claims.
Mar 30, 2020 | Securities Class Action Archive
Class Action Lawsuit Filed on Behalf of HF Foods Group Inc. Shareholders Who Purchased, Or Otherwise Acquired, HFFG Securities Between August 23, 2018 and March 23, 2020, Both Dates Inclusive – Kehoe Law Firm, P.C. Investigating Securities Claims on Behalf of HFFG Investors
Kehoe Law Firm, P.C. is making investors aware that on March 29, 2020, a class action lawsuit was filed in United States District Court, Central District of California, on behalf of persons or entities who purchased, or otherwise acquired the publicly-traded securities of HF Foods Group (“HF Foods” or the “Company”) (NasdaqCM: HFFG) between August 23, 2018 and March 23, 2020, both dates inclusive (the “Class Period”). The class action seeks to recover compensable damages caused by the HFFG Defendants’ alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
HF Foods investors who purchased, or otherwise acquired, securities during the Class Period and suffered losses are encouraged to contact either Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], or John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], to discuss the class action lawsuit or potential legal claims.
Mar 27, 2020 | Securities Class Action Archive
Class Action Lawsuit Filed Against Hanmi Financial Corporation On Behalf of HAFC Investors Who Purchased, Or Otherwise Acquired, Hanmi Financial Stock Between August 12, 2019 and January 28, 2020, Both Dates Inclusive – HAFC Investors Who Suffered Losses Encouraged to Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is making investors aware that on March 26, 2020, a class action lawsuit was filed in United States District Court, Central District of California, against Hanmi Financial Corporation (“Hanmi Financial” or the “Company”) (NasdaqGS: HAFC) on behalf of all persons and entities, other than Defendants, who purchased, or otherwise acquired, the publicly-traded securities of Hanmi Financial between August 12, 2019 and January 28, 2020, both dates inclusive (the “Class Period”).
The Plaintiff seeks to recover compensable damages caused by the Hanmi Financial Defendants’ alleged violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
According to the class action complaint, the Hanmi Financial Defendants made materially false and/or misleading, because they misrepresented and failed to disclose adverse facts pertaining to the Company’s business, operational and financial results, which were known to the Hanmi Financial Defendants or recklessly disregarded by them. Specifically, the Hanmi Financial Defendants allegedly made false and/or misleading statements and/or failed to disclose that: (1) the specified $40.7 million troubled loan would necessitate further and future specific provisions for the Company – in the millions; (2) the specified $40.7 million troubled loan would necessitate the Company to appraise and take personal property securing a portion of the amount of the loan; and (3) as a result, the Hanmi Financial Defendants’ public statements were materially false and misleading at all relevant times.
Hanmi Financial investors who purchased, or otherwise acquired, HAFC securities during the Class Period and suffered losses are encouraged to contact either Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], or John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], to discuss the class action lawsuit or potential legal claims.
Mar 26, 2020 | Securities Class Action Archive
Class Action Lawsuit Filed Against AnaptysBio, Inc. On Behalf of Purchasers or Acquirers of ANAB Stock Between October 10, 2017 and November 7, 2019, Both Dates Inclusive – Kehoe Law Firm, P.C. Investigating Securities Claims on Behalf of AnaptysBio, Inc. Investors
Kehoe Law Firm, P.C. is making investors aware that a class action lawsuit was filed on March 25, 2020 in United States District Court, Southern District of California, against AnaptysBio, Inc. (“AnaptysBio” or the “Company”) (NasdaqGS: ANAB) on behalf of individuals or entities who purchased, or otherwise acquired, ANAB between October 10, 2017 and November 7, 2019, inclusive (the “Class Period”).
The securities class action was brought against AnaptysBio and certain of its current and former senior executives under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and SEC Rule 10b-5, promulgated thereunder.
On October 10, 2017, according to the complaint, AnaptysBio
. . . reported data from an interim analysis of its Phase 2a clinical trial of etokimab in atopic dermatitis. Specifically, the Company touted the ‘positive’ data as ‘provid[ing] a solid foundation for the continued development of [etokimab] across a number of atopic diseases.’ In addition, the Company described the drug’s efficacy as ‘very encourag[ing]’ and told investors that ‘we believe we can build on that with multidosing … in a Phase IIb study, we anticipate that we can get to even greater EASI scores.’
Throughout the Class Period, the Company touted the prospects of etokimab and the drug’s efficacy based on clinical trial data. In truth, however, the Company failed to disclose key information from the trials and used questionable analysis which made the trial results regarding etokimab’s efficacy and its prospects appear far better than they were. As a result of [the AnaptysBio] Defendants’ material misrepresentations and omissions, shares of AnaptysBio’s common stock traded at artificially inflated prices during the Class Period. [Emphasis added.]
The complaint alleges that AnaptysBio issued
. . . materially false and misleading and failed to disclose material adverse facts about the prospects of the Company’s lead drug asset. Specifically, Defendants willfully or recklessly made and/or caused the Company to make materially false and misleading statements to the investing public that failed to disclose important data from the Company’s Phase 2a trial in atopic dermatitis, including the timing and extent of patients’ use of topical corticosteroids as a rescue therapy during the study and whether any of the patients that utilized rescue therapy were classified as responders at a given time. As a result, Defendants’ positive statements about the efficacy and prospects of AnaptysBio’s lead drug asset in the treatment of atopic dermatitis were materially false and/or misleading and/or lacked a reasonable basis. [Emphasis added.]
AnaptysBio investors who purchased, or otherwise acquired, securities during the Class Period and suffered losses are encouraged to contact either Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], or John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], to discuss the class action lawsuit or potential legal claims.
Mar 24, 2020 | Securities Class Action Archive
Class Action Lawsuit Filed Against Exela Technologies On Behalf of Persons or Entities That Purchased, Or Otherwise Acquired, Exela Securities Between March 16, 2018 and March 16, 2020, Both Dates Inclusive – Kehoe Law Firm, P.C. Investigating Securities Claims on Behalf of XELA Investors Who Suffered Losses
On March 23, 2020, a class action lawsuit was filed in United States District Court for the Northern District of Texas, on behalf of persons or entities who purchased, or otherwise acquired, the publicly-traded securities of Exela Technologies, Inc. (“Exela” or the “Company”) (NasdaqCM: XELA) from March 16, 2018 through March 16, 2020, both dates inclusive (the “Class Period”). The Plaintiff seeks to recover compensable damages caused by the XELA Defendants’ alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
According to the class action complaint, Exela made materially false and/or misleading statements, because they misrepresented and failed to disclose adverse facts pertaining to Exela’s business, operations, and prospects, which were known to the Exela Defendants or recklessly disregarded by them. Specifically, the Exela Defendants made false and/or misleading statements and/or failed to disclose that: (1) Exela’s previously issued financial statements for the twelve months ended December, 31, 2017 and December 31, 2018, and the quarterly statements for the three and nine months ended September 30, 2019 contained numerous accounting errors, could not be relied upon, and required restatement; and (2) as a result, the Exela 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.
Exela Announces Delayed Filing of Form 10-K For Fiscal 2019 & The Need To Restate Financial Statements For Fiscal Years 2017/2018 And Interim 2019 Statements
According to the class action complaint, on March 16, 2020, Exela issued a press release announcing that the Company would be postponing its earnings and conference call due to a delayed filing of Exela’s Form 10-K for fiscal year 2019.
On this news, the Exela’s shares fell $0.0154 per share, or more than 8.3%, to close at $0.17 per share on March 17, 2020.
According to the class action complaint, on March 17, 2020, Exela issued a press release announcing that in addition to not being able to file the Company’s Form 10-K on time, Exela also would need to restate its financial statements for fiscal years 2017 and 2018, as well as its interim 2019 statements.
On this news, Exela’s shares fell an additional $0.025 per share, or more than 14.7%, to close at $0.145 per share on March 18, 2020.
Exela investors who purchased, or otherwise acquired, XELA securities during the Class Period and suffered losses are encouraged to contact either Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], or John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], to discuss the class action lawsuit or potential legal claims.
Mar 24, 2020 | Securities Class Action Archive
Class Action Lawsuit Filed Against RTI Surgical Holdings, Inc. On Behalf of Investors Who Purchased Shares of RTIX Stock Between March 7, 2016 and March 16, 2020 – Kehoe Law Firm, P.C. Investigating Securities Claims On Behalf of RTI Surgical Investors
According to the lawsuit, RTI Surgical Holdings, Inc. (“RTI Surgical” or the “Company”) (NasdaqGS: RTIX), throughout the Class Period between March 7, 2016 and March 16, 2020, both dates inclusive, made false and/or misleading statements and/or failed to disclose that: (1) the Company inappropriately recognized revenues with respect to certain contractual arrangements, including other equipment manufacturer customers; (2) RTI Surgical’s internal controls over financial reporting were not effective; (3) as a result, RTI Surgical would be forced to delay the filing of its Form 10-K for fiscal year ended December 31, 2019; and (4) 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.
RTI Surgical Announces Delay In Filing Form 10-K For Fiscal Year 2019 – RTIX Conducting Internal Investigation of Current and Prior Period Matters Relating to Revenue Recognition Practices Regarding Certain Contractual Arrangements
On March 16, 2020, RTI Surgical announced that it will delay filing its Form 10-K for the fiscal year which ended December 31, 2019. The Company stated that its
. . . Audit Committee (the “Audit Committee”) of the Company’s Board of Directors, with the assistance of independent legal and forensic accounting advisors, is in the process of conducting an internal investigation of current and prior period matters relating to the Company’s revenue recognition practices regarding the timing of revenue with respect to certain contractual arrangements, primarily with OEM customers, including the accounting treatment, financial reporting and internal controls related to such arrangements. The Audit Committee investigation was precipitated by an ongoing SEC investigation related to the periods 2014 through 2016. The Company will not be in a position to file its Form 10-K until the Audit Committee concludes its investigation and the Company and its independent auditor assess the results of that investigation. The Company is working to complete its analysis and file its Form 10-K for the year ended December 31, 2019 within the extension period (through March 31, 2020), but no assurance can be given that it will be able to do so. [Emphasis added.]
RTI Surgical investors who purchased, or otherwise acquired, RTIX securities during the Class Period and suffered losses are encouraged to contact either Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], or John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], to discuss the class action lawsuit or potential legal claims.
