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CLASS ACTION UPDATE for ACB, MHK and PTLA: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, NY / ACCESSWIRE / January 21, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

ACB Shareholders Click Here: https://www.zlk.com/pslra-1/aurora-cannabis-inc-loss-form?prid=5312&wire=1
MHK Shareholders Click Here: https://www.zlk.com/pslra-1/mohawk-industries-inc-loss-form?prid=5312&wire=1
PTLA Shareholders Click Here: https://www.zlk.com/pslra-1/portola-pharmaceuticals-inc-loss-form?prid=5312&wire=1

* ADDITIONAL INFORMATION BELOW *

Aurora Cannabis Inc. (ACB)

ACB Lawsuit on behalf of: investors who purchased October 23, 2018 - January 6, 2020
Lead Plaintiff Deadline: January 21, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/aurora-cannabis-inc-loss-form?prid=5312&wire=1

According to the filed complaint, during the class period, Aurora Cannabis Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) as opposed to the Company's representations, Aurora's revenue would decline in its first quarter of fiscal 2020 ended September 30, 2019; (2) the Company would halt construction on its Aurora Nordic 2 and Aurora Sun facilities; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Mohawk Industries, Inc. (MHK)

MHK Lawsuit on behalf of: investors who purchased April 28, 2017 - July 25, 2019
Lead Plaintiff Deadline: March 3, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/mohawk-industries-inc-loss-form?prid=5312&wire=1

The filed complaint alleges that, faced with slowing demand for its conventional flooring products, the Company engaged in a scheme to inflate its revenues and earnings by booking fictitious sales of those products. This practice is known as channel stuffing and was used by Mohawk to hide severely declining demand for conventional flooring products. Throughout the Class Period, Defendants made false and/or misleading statements about Mohawk's sales growth and the demand for the Company's conventional flooring products. Defendants also reassured investors about Mohawk's increasing accounts receivable and inventory levels by falsely attributing those increases to external factors like rising raw material costs and inflation. As a result of these misrepresentations, shares of Mohawk's common stock traded at artificially inflated prices during the Class Period.

Portola Pharmaceuticals, Inc. (PTLA)

PTLA Lawsuit on behalf of: investors who purchased November 5, 2019 - January 9, 2020
Lead Plaintiff Deadline: March 16, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/portola-pharmaceuticals-inc-loss-form?prid=5312&wire=1

According to the filed complaint, during the class period, Portola Pharmaceuticals, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Portola's internal control over financial reporting regarding reserve for product returns was not effective; (2) Portola was shipping longer-dated product with 36-month shelf life; (3) Portola had not established adequate reserve for returns of prior shipments of short-dated product; (4) as a result, Portola was reasonably likely to need to "catch up" on accounting for return reserves; and (5) 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.

You have until the lead plaintiff deadlines to 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.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm's attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:

Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP



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https://www.accesswire.com/573692/CLASS-ACTION-UPDATE-for-ACB-MHK-and-PTLA-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders