NEW YORK, Oct. 01, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against Tandy Leather Factory, Inc. (TLF), ADTRAN, Inc. (ADTN), BeiGene, Ltd. (BGNE), and Altria Group, Inc. (MO) on behalf of investors. Our investigation concerns whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Tandy Leather Factory, Inc. (TLF)
On August 13, 2019, Tandy Leather Factory revealed that it would file its quarterly report for the period ended June 30, 2019 late, citing an Audit Committee investigation related to “certain aspects of the company's methods of valuation and expensing of costs of inventory and related issues regarding the company's business and operations.”
On this news, the company’s share price fell $0.95 per share, over 17%, to close at $4.50 on August 16, 2019.
For more information on our investigation into Tandy Leather go to: https://bespc.com/TLF
ADTRAN, Inc. (ADTN)
On July 17, 2019, ADTRAN announced “preliminary” earnings for the second quarter of 2019 due to the company’s assessment of its current and previously reported E&O reserves. On this news, the price of ADTRAN declined by 23%, to close at $12.13 on July 18, 2019.
Then, on August 12, 2019, ADTRAN disclosed its inability to timely file its quarterly financial report with the SEC, admitting to material weaknesses in its internal controls, resulting in a misstatement of the Company’s previously reported E&O reserves.
For more information on our investigation into ADTRAN go to: https://bespc.com/ADTN
BeiGene, Ltd. (BGNE)
On September 5, 2019, J Capital Research (“J Capital”) published a report on BeiGene. The J Capital report asserted that BeiGene “is faking sales in order to persuade investors that it can develop a successful platform in China” and that “management may also be skimming R&D and capital budgets.”
On this news, BeiGene’s American depositary share price fell $19.95 per share, or 14.19%, to close at $120.61 per share on September 6, 2019.
For more information on our investigation into BeiGene go to: https://bespc.com/BGNE
Altria Group, Inc. (MO)
Altria Group partially owns JUUL Labs, (“JUUL”) an e-cigarette manufacturer. JUUL has become one of the most popular vehicles for vaping among teenagers. The widespread use of e-cigarettes by minors has led to concern from the public health community and has triggered investigations by both federal and state regulators.
These government investigations focus on whether Altria Group / JUUL misled the public with respect to the safety of its e-cigarettes and whether they actively marketed these devices to minors. Largely as a result of these investigations and public outcry, the value of Altria Group stock has decreased more than 25% (or about $14) since March of this year. As of market close on September 25, 2019 the stock was trading at $40.56.
For more information on our investigation into Altria Group go to: https://bespc.com/Mo
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.