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BAK, FSLY & PROG Class Action Reminders: Bronstein, Gewirtz & Grossman LLC Reminds Investors of Class Actions and Upcoming Lead Plaintiff Deadlines

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·3 min read
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NEW YORK, NY / ACCESSWIRE / October 13, 2020 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can 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. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Braskem S.A. (NYSE:BAK)
Class Period: May 6, 2016 - July 8, 2020
Deadline: October 26, 2020
For more info: www.bgandg.com/bak

The Complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Braskem's salt mining operations were unsafe and presented a significant danger to surrounding areas, including nearly two thousand properties; (2) the foregoing foreseeably increased the risk that Braskem would be subjected to remedial liabilities, including, but not limited to, increased governmental and/or regulatory oversight or enforcement, significant monetary and reputational damage, and/or the permanent closure of one or more of its salt mining operations; (3) accordingly, earnings generated from Braskem's salt mining operations were unsustainable; (4) Braskem downplayed the true scope and severity of the Company's liability with respect to its salt mining operations; and (5) as a result, the Company's public statements were materially false and misleading at all relevant times.

Fastly, Inc. (NYSE:FSLY)
Class Period: May 6, 2020 - August 5, 2020
Deadline: October 26, 2020
For more info: www.bgandg.com/fsly

The Complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Fastly's largest customer was ByteDance, operator of TikTok, which was known to have serious security risks and was under intense scrutiny by U.S. officials; (2) there was a material risk that Fastly's business would be adversely impacted should any adverse actions be taken against ByteDance or TikTok by the U.S. government; and (3) consequently, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Progenity, Inc. (NASDAQ:PROG)
Class Period: acquired Progenity common stock pursuant and/or traceable to the registration statement, as amended (the "Registration Statement"), issued in connection with Progenity's June 2020 initial public offering ("IPO")
Deadline: October 27, 2020
For more info: www.bgandg.com/prog

The Complaint alleges that the Registration Statement for the IPO was negligently prepared and, as a result, contained false and/or misleading statements and/or failed to disclose that: (1) Progenity had overbilled government payors by $10.3 million in 2019 and early 2020 and, thus, had materially overstated its revenues, earnings and cash flows from operations for the historical financial periods provided in the Registration Statement; (2) the Company would need to refund this overpayment in the second quarter of 2020 (the same quarter in which the IPO was conducted), adversely impacting its quarterly results; and (3) Progenity was suffering from accelerating negative trends in the second quarter of 2020 with respect to the Company's testing volumes, revenues and product pricing.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz and Grossman, LLC



View source version on accesswire.com:
https://www.accesswire.com/610083/BAK-FSLY-PROG-Class-Action-Reminders-Bronstein-Gewirtz-Grossman-LLC-Reminds-Investors-of-Class-Actions-and-Upcoming-Lead-Plaintiff-Deadlines