Sep 14, 2022 | Blog, Shareholder Investigations
In a Form 8-K dated September 13, 2022, Vintage Wine reported that “[o]n September 12, 2022, the Audit Committee of the Board of Directors . . . of Vintage Wine Estates, Inc. . . . after discussion with management, determined that the Company’s previously issued financial statements as of and for the three and nine months ended March 31, 2022 . . . should no longer be relied upon and should be restated due to the identification of an accounting error.”
The Company also reported that “[t]he correction of the accounting error led to a net reduction in previously recognized interest rate swap liabilities of $4.2 million for the three and nine months ended March 31, 2022, an increase in interest rate swap assets of $5.1 million for the three and nine months ended March 31, 2022, an increase in accrued liabilities and other payables of $2.7 million for the three and nine months ended March 31, 2022 and an increase in net unrealized gain on interest rate swap agreements of $6.7 million for the three and nine months ended March 31, 2022, net of income taxes.”
Shares of Vintage Wine stock were down almost 40% during intraday trading on September 14, 2022.
VINTAGE WINE SHAREHOLDERS WITH LOSSES GREATER THAN $25,000 ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS ABOUT THEIR VWE SECURITIES.
INVESTORS OF VINTAGE WINE STOCK WITH SIGNIFICANT FINANCIAL LOSSES ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE SECURITIES INVESTIGATION AND FOR A NO-OBLIGATION EVALUATION OF POTENTIAL LEGAL CLAIMS.
Sep 13, 2022 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Paramount Global (“Paramount”) (NASDAQ: PARA) breached their fiduciary duties to Paramount and its shareholders.
The investigation concerns whether members of Paramount’s board of directors or senior management failed to manage Paramount in an acceptable manner, in breach of their fiduciary duties, and whether Paramount and its shareholders have suffered damages as a result.
On August 30, 2022, Insider reported that a former executive at Paramount-owned Nickelodeon had allegedly engaged in years of assaulting show writers, sexualizing underage girl cast members, and for providing alcohol to underage cast members, among other allegations.
PARAMOUNT SHAREHOLDERS ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS ABOUT THEIR PARAMOUNT STOCK HOLDINGS.
Sep 13, 2022 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Dentsply Sirona Inc. (“Dentsply”) (NASDAQ: XRAY) breached their fiduciary duties to Dentsply and its shareholders.
The investigation concerns whether members of the Dentsply Board of Directors (the “Board”) made, or caused Dentsply to make, false and/or misleading statements, as well as failed to disclose material adverse facts, about Dentsply’s business, operations, prospects, and financial health.
Further, the investigation is focusing on whether the Board failed to disclose material information, including whether: (i) Dentsply improperly recognized revenue tied to certain dealer incentives or rebate programs to allow its former CEO and CFO to meet certain incentive-based compensation targets; and (ii) as a result, whether statements about Dentsply’s business, operations, and prospects lacked a reasonable basis.
On April 19, 2022, Dentsply announced the sudden termination of its CEO. On this news, the price of Dentsply shares dropped 13%.
On May 10, 2022, Dentsply announced that the Audit Committee of the Board had commenced an internal investigation regarding Dentsply’s “use of incentives to sell products to distributors” and “whether those incentives were properly accounted for.” As a result, Dentsply was unable to file its quarterly report with the SEC. On this news, the price of Dentsply shares dropped 7%.
DENTSPLY SHAREHOLDERS ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS ABOUT THEIR DENTSPLY STOCK HOLDINGS.
Aug 31, 2022 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Pzena Investment Management, Inc. (“Pzena”) (NYSE: PZN) breached their fiduciary duties to Pzena’s shareholders.
The investigation concerns whether Pzena’s board of directors or executive officers breached their fiduciary duties of loyalty and whether Pzena’s shareholders are receiving a fair price for their stock in connection with the proposed sale of Pzena to Richard Pzena, Pzena’s founder and Chief Executive Officer.
INVESTORS OF PZENA STOCK ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS ABOUT THEIR PZENA STOCK HOLDINGS.
IF YOU ARE A PZENA SHAREHOLDER, YOU MAY HAVE LEGAL CLAIMS AGAINST PZENA’S DIRECTORS AND OFFICERS. IF YOU WISH TO DISCUSS THIS INVESTIGATION, OR HAVE QUESTIONS ABOUT THIS NOTICE OR YOUR LEGAL RIGHTS, PLEASE CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE INVESTIGATION AND POTENTIAL LEGAL CLAIMS.
Aug 31, 2022 | Blog, Shareholder Investigations
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Abbott Laboratories (“Abbott”) (NYSE: ABT) breached their fiduciary duties to Abbott and its shareholders.
The investigation concerns whether members of Abbott’s board of directors or senior management failed to manage Abbott in an acceptable manner, in breach of their fiduciary duties to Abbott, and whether Abbott and its shareholders suffered damages as a result.
INVESTORS OF ABBOTT STOCK ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS ABOUT THEIR ABBOTT STOCK HOLDINGS.
On May 16, 2022, the U.S. filed a lawsuit and proposed consent decree against Abbott claiming that Abbott manufactured powdered infant formula under conditions and using practices that failed to comply with regulations designed to ensure the quality and safety of infant formula.
IF YOU ARE AN ABBOTT SHAREHOLDER, YOU MAY HAVE LEGAL CLAIMS AGAINST ABBOTT’S DIRECTORS AND OFFICERS. IF YOU WISH TO DISCUSS THIS INVESTIGATION, OR HAVE QUESTIONS ABOUT THIS NOTICE OR YOUR LEGAL RIGHTS, PLEASE CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE INVESTIGATION AND POTENTIAL LEGAL CLAIMS.
Aug 29, 2022 | Blog, Shareholder Investigations
Azure Power Investors With Losses Greater Than $50,000 Are Encouraged to Contact Kehoe Law Firm, P.C.
Kehoe Law Firm, P.C. is investigating claims on behalf of investors of Azure Power Global Limited (“Azure Power Global” or the “Company”) (NYSE: AZRE) to determine whether the Company violated securities laws or engaged in other unlawful business practices.
INVESTORS OF AZURE POWER GLOBAL STOCK ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS ABOUT THEIR AZRE STOCK HOLDINGS.
On August 29, 2022, the Company reported that it “. . . received a whistleblower complaint in May 2022 alleging potential procedural irregularities and misconduct by certain employees at a plant belonging to one of its subsidiaries.”
The Company also reported that “[a]s part of the Company’s review of these allegations, it discovered deviations from safety and quality norms, and it has implemented mechanisms to remediate them and in so doing strengthen safety and quality protocols. Azure’s Audit Committee, with the assistance of legal counsel and forensic accounting support, also identified evidence of manipulation of project data and information by certain employees. The Company is implementing immediate remedial measures, and Azure is initiating disclosure of the findings to the appropriate authorities.”
Further, the Company’s recently appointed CEO resigned unexpectedly after joining Azure Power Global two months earlier in July 2022.
Azure Power Global’s stock price was down more than 40% during intraday trading on August 29, 2022.
AZURE POWER GLOBAL INVESTORS WITH LOSSES GREATER THAN $50,000 ARE ENCOURAGED TO CONTACT KEHOE LAW FIRM, P.C, MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO DISCUSS THE INVESTIGATION AND POTENTIAL LEGAL CLAIMS.
