Feb 17, 2021 | Securities Class Action Archive
Jianpu Technology Inc. Investors With Losses Greater Than $50,000 Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of shareholders of Jianpu Technology Inc. (“Jianpu” or the “Company”) (NYSE: JT) to determine whether Jianpu may have issued materially misleading business information to the investing public, thereby harming investors.
On February 16, 2021, Jianpu announced the results of the Company’s “review of certain matters relating to transactions carried out by [its] Credit Card Recommendation Business Unit . . . with third-party business entities.”
The findings of the review, according to Jianpu, “generally cover the fiscal years 2017-2019.” The Company stated that “[t]he [r]eview found that certain transactions involved third-party agents (including both upstream agents and downstream suppliers) with undisclosed relationships, and some transactions lacked business substance (‘questionable transactions’).”
Jianpu announced that “[a]s a result, certain revenue and associated expenses were inflated or inaccurately recorded in the financial statements. Evidence suggested that certain employees from the Credit Card [Business Unit] may have known about or been involved in certain of the questionable transactions that resulted in inflated sales commissions to such employees. In relation to the questionable transactions, the [r]eview found that certain employees improperly altered supporting documents that were provided to the Company’s external auditor.”
Further, regarding the “overall financial impact of the questionable transactions on its financial statements,” Jianpu stated that it “. . . anticipates the total amount of overstated revenue for the fiscal years 2018 and 2019 to be approximately, RMB 90 million and RMB 164 million, respectively, representing approximately 4.5% and 10.1% of the total revenue previously reported by the Company for such years, and the adjustment to overstated cost and expenses together with the reserve for potential credit loss to be approximately RMB 90 million and RMB 130 million for the fiscal years of 2018 and 2019, respectively, resulting in a minimal net profit impact for the fiscal year 2018 and RMB 34 million of net loss impact for the fiscal year 2019.” [Emphasis added.]
On this news, the Company’s share price fell $0.60, or 13%, closing at $3.94 per share on February 16, 2021.
Jianpu investors who have suffered losses greater than $50,000 are encouraged to contact Kehoe Law Firm, P.C. to discuss potential legal claims by completing Kehoe Law Firm’s Securities Class Action Questionnaire or by sending an e-mail to [email protected] or [email protected].
Feb 16, 2021 | Securities Class Action Archive
Securities Class Action Investigations On Behalf Of Investors Of Healthcare Services Group, Inc. & Range Resources Corporation – RRC & HCSG Investors Who Have Suffered Losses Greater Than $250,000 Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating potential securities class action claims on behalf of investors of Healthcare Services Group, Inc. (“Healthcare Services”) (NASDAQ: HCSG) and Range Resources Corporation (“Range Resources”) (NYSE: RRC) to determine whether the companies engaged in securities fraud or other unlawful business practices.
Healthcare Services
On February 10, 2021, Healthcare Services issued a press release announcing their financial and operating results for Q4 2020. The press release also provided an update on a previously disclosed SEC investigation into Healthcare Services’ earnings-per-share (“EPS”) calculation practices, announcing, among other things, that “[t]he Company and the SEC have recently commenced discussions regarding a potential resolution of the investigation, which focuses on periods prior to 2018. As discussions regarding a potential resolution are ongoing, Mr. John C. Shea, the Company’s Chief Financial Officer, has notified the Company that he is taking a temporary leave of absence from his duties.”
On this news, HCSG’s stock price fell $3.01 per share, or 8.88%, closing at $30.90 per share on February 10, 2021.
Range Resources
Media outlets recently reported that Range Resources paid a $294,000 civil penalty to the Pennsylvania Department of Environmental Protection. According to Gant News, Range Resources paid the civil penalty “ . . . for violations of the 2012 Oil and Gas Act . . . regarding wells ineligible for inactive status listed on its inactive status request to DEP.”
On this news, the stock price of Range Resources fell $0.62 per share, or 6.08%, to close at $9.57 per share on February 11, 2021.
INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, RRC OR HCSG SECURITIES AND SUFFERED LOSSES GREATER THAN $250,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT KEVIN CAULEY, DIRECTOR, BUSINESS DEVELOPMENT, (215) 792-6676, EXT. 802, [email protected], [email protected], [email protected], TO DISCUSS THE SECURITIES INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Feb 15, 2021 | Securities Class Action Archive
Class Action Lawsuit Filed On Behalf Of bluebird bio Investors – BLUE Investors With Losses Greater Than $100,000 Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of bluebird bio, Inc. (“bluebird” or the “Company”) (NASDAQ: BLUE) to determine whether the Company engaged in securities fraud or other unlawful business practices.
INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, BLUEBIRD SECURITIES BETWEEN MAY 11, 2020 AND NOVEMBER 4, 2020, BOTH DATES INCLUSIVE (THE “CLASS PERIOD”), AND SUFFERED LOSSES GREATER THAN $100,000 ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], [email protected], TO DISCUSS THE SECURITIES INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
On February 12, 2021, a class action lawsuit was filed against bluebird in United States District Court, Eastern District of New York.
Throughout the Class Period, according to the class action complaint, the bluebird Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies.
The bluebird Defendants, allegedly, made false and/or misleading statements and/or failed to disclose that (i) data supporting bluebird’s U.S. Biologics Licensing Application (“BLA”) submission for LentiGlobin for sickle cell disease (“SCD”) was insufficient to demonstrate drug product comparability; (ii) Defendants downplayed the foreseeable impact of disruptions related to the COVID-19 pandemic on the Company’s BLA submission schedule for LentiGlobin for SCD, particularly with respect to manufacturing; (iii) as a result of the foregoing, it was foreseeable that the Company would not submit the BLA for LentiGlobin for SCD in the second half of 2021; and (iv) as a result, bluebird’s public statements were materially false and misleading at all relevant times.
Feb 10, 2021 | Securities Class Action Archive
Investigation of Interface, Inc. Officers And Directors For Potential Breach of Fiduciary Duty Claims – Investors Of Interface, Inc. Who Have Held Their Stock Continuously Since 2018 Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating whether certain officers and/or directors of Interface, Inc. (“Interface” or the “Company”) (NASDAQ: TILE) breached their fiduciary duties to Interface and the Company’s shareholders.
The investigation concerns, among other things, whether certain officers and/or directors of Interface made false and/or misleading statements about the Company’s historical quarterly (“EPS”) calculations and rounding practices.
If you have held Interface stock continuously since 2018 and wish to discuss Kehoe Law Firm’s investigation or have questions about your potential legal rights, please contact Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], [email protected], to learn more about the investigation or potential legal claims.
Feb 5, 2021 | Securities Class Action Archive
CELLCOM ISRAEL LTD. – Kehoe Law Firm, P.C. Investigating Securities Claims On Behalf of Cellcom Israel Investors
Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Cellcom Israel Ltd. (“Cellcom” or the “Company”) (NYSE: CEL) to determine whether the Company engaged in securities fraud or other unlawful business practices.
On January 31, 2021, Cellcom announced that Marathon 018 Xfone Ltd., “. . . [Cellcom’s] cellular sharing network partner, . . . sent . . . an annulment notice of the sharing agreement, alleging that the Company has materially breached the sharing agreement by acquiring Golan Telecom’s share capital and termination of Golan’s MNO license.”
On this news, Cellcom’s stock price dropped $0.23 per share, closing at $3.83 per share on February 1, 2021, thereby injuring investors.
INVESTORS WHO PURCHASED, OR OTHERWISE ACQUIRED, CELLCOM SECURITIES AND SUFFERED SIGNIFICANT LOSSES ARE ENCOURAGED TO COMPLETE KEHOE LAW FIRM’S SECURITIES CLASS ACTION QUESTIONNAIRE OR CONTACT KEVIN CAULEY, DIRECTOR, BUSINESS DEVELOPMENT, (215) 792-6676, EXT. 802, [email protected], [email protected], [email protected], TO DISCUSS THE CLASS ACTION INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Feb 4, 2021 | Securities Class Action Archive
Investigation of SolarWinds Corporation Officers And Directors For Potential Breach of Fiduciary Duty Claims – SWI Investors Who Have Held Their Stock Continuously Since September 2019 Encouraged To Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating whether certain officers and/or directors of SolarWinds Corporation (“SolarWinds” or the “Company”) (NYSE: SWI) breached their fiduciary duties to SolarWinds and the Company’s shareholders.
The investigation concerns whether certain officers and/or directors of SolarWinds, among other things, mismanaged the Company’s cybersecurity risks, including a cyberattack on the Company’s systems, the disclosure of which resulted in an approximate decline of 40% of the value of SolarWinds’ stock shares.
If you have held SolarWinds stock continuously since September 2019 and wish to discuss Kehoe Law Firm’s investigation or have questions about your potential legal rights, please contact Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], [email protected], to learn more about the investigation or potential legal claims.
