NEW YORK, Oct. 06, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire is investigating certain officers and directors of National General Holdings Corp. (NGHC), Natural Health Trends Corp. (NHTC), Omnicell, Inc. (OMCL), and PolarityTE, Inc. (PTE) on behalf of long-term stockholders. More information about each potential case can be found at the link provided.
National General Holdings Corp. (NGHC)
Bragar Eagel and Squire is investigating certain officers and directors of National General Holdings Corp. following a class action complaint that was filed against National General on July 25, 2019.
The complaint alleges that during the class period, defendants made false and misleading statements and/or failed to disclose adverse information regarding National General’s business and operations. Specifically, the complaint alleges that defendants failed to disclose that National General, together with banking giant Wells Fargo, had engaged in a massive insurance scheme to bilk Wells Fargo customers out of millions of dollars. Through this scheme, National General forced thousands of customers to pay for auto insurance commonly known as Collateral Protection Insurance (“CPI”) that they did not need or want. National General served as Wells Fargo’s CPI vendor for all aspects of the program from July 2015 until the program was discreetly terminated in September 2016. Defendants possessed information showing that these customers already had their own insurance, but forced them to be subject to redundant, unnecessary, and overly expensive CPI policies anyway. In addition, while defendants were concealing their participation in the fraudulent CPI scheme from investors, they were reporting revenues and earnings results that had been artificially inflated by the illegitimate proceeds from the scheme. As a result of this information being withheld from the market, National General common stock traded at artificially inflated prices of more than $25 per share during the Class Period.
For more information on our investigation into National General Holdings go to: https://bespc.com/nghc
Natural Health Trends Corp. (NHTC)
Bragar Eagel & Squire is investigating certain officers and directors of National Health Trends Corp. following a complaint that was filed against Natural Health Trends on January 8, 2019.
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) Natural Health Trends was operating as a pyramid scheme in China, which is contrary to Chinese law; (2) consequently, Natural Health Trends was not in compliance with applicable Chinese law; and (3) as a result, defendants' statements about Natural Health Trends’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
For more information on our investigation into Natural Health Trends go to: https://bespc.com/nhtc
Omnicell, Inc. (OMCL)
Bragar Eagel & Squire is investigating certain officers and directors of Omnicell, Inc. following a class action complaint that was filed against Omnicell on July 18, 2019.
The complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company recognized revenue for certain transactions before fulfilling its performance obligations; (2) that the Company engaged in improper accounting practices to meet revenue targets; (3) that the Company experienced weaker demand for new product lines than it had previously projected; (4) that, as a result, the Company would be required to write-off certain inventory; (5) that the Company misclassified certain expenses as capitalized expenditures; and (6) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
For more information on our investigation into Omnicell go to: https://bespc.com/omcl
PolarityTE, Inc. (PTE)
Bragar Eagel & Squire is investigating certain officers and directors of PolarityTE, Inc. following a class action complaint filed against PolarityTE on June 26, 2018.
The complaint alleges that on June 25, 2018, Citron Research ("Citron") issued a report in which Citron detailed the company’s track record of material misrepresentations, misstatements, and omissions pertaining to the status of a key patent application. The Citron report noted that as far back as March 31, 2017, the USPTO notified the company of its non-final rejection of patent #14/954,335. Citron's report continued to highlight the company’s subsequent failure to disclose the patent’s non-final rejection status and its continued behavior of representing the technology linked to the patent in a positive light. The report also pointed to the USPTO's final rejection of the patent on June 4, 2018 information that the company also failed to disclose. On this news, PolarityTE stock plunged more than 34%.
For more information on our investigation into PolarityTE go to: https://bespc.com/pte
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.