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CLASS ACTION UPDATE for ADTN, DBX, ET and HEXO: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, NY / ACCESSWIRE / November 27, 2019 / 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 and further details about the cases can be found at the links provided. There is no cost or obligation to you.

ADTRAN, Inc. (ADTN)
Class Period:
February 28, 2019 - October 9, 2019
Lead Plaintiff Deadline: December 16, 2019
Join the action: https://www.zlk.com/pslra-1/adtran-inc-loss-form?wire=3&prid=4629

The ADTN lawsuit alleges: ADTRAN, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) there were material weaknesses in the Company's internal control over financial reporting; (2) as a result, certain E&O reserves had been improperly reported; (3) as a result, the Company's financial results for certain periods were misstated; (4) there would be a pause in shipments to the Company's Latin American customer; 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.

To learn more about the ADTRAN, Inc. class action contact jlevi@levikorsinsky.com.

Dropbox, Inc. (DBX)
Class Period:
on behalf of all persons who purchased Dropbox Class A common stock pursuant or traceable to the registration statement issued in connection with the Company's March 23, 2018 initial public offering.
Lead Plaintiff Deadline: December 3, 2019
Join the action: https://www.zlk.com/pslra-1/dropbox-inc-loss-form?wire=3&prid=4629

The DBX lawsuit alleges that, during the class period, Dropbox, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Dropbox had materially overstated its ability to monetize its user base; (2) Dropbox was facing worsening revenue trends, which were negatively impacting the Company at the time of the initial public offering ("IPO"); (3) Dropbox was tracking below its internal revenue and monetization targets at the time of the IPO; and (4) as a result, defendants' statements about Dropbox's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

To learn more about the Dropbox, Inc. class action contact jlevi@levikorsinsky.com.

Energy Transfer LP (ET)
Class Period:
February 25, 2017 - November 11, 2019
Lead Plaintiff Deadline: January 20, 2020
Join the action: https://www.zlk.com/pslra-1/energy-transfer-lp-loss-form?wire=3&prid=4629

The ET lawsuit alleges: Energy Transfer LP made materially false and/or misleading statements and/or failed to disclose that: (i) Energy Transfer's permits to conduct the Mariner East pipeline project in Pennsylvania were secured via bribery and/or other improper conduct; (ii) the foregoing misconduct increased the risk that the Partnership and/or certain of its employees would be subject to government and/or regulatory action, thereby depreciating the Partnership's unit value; and (iii) as a result, the Partnership's public statements were materially false and misleading at all relevant times.

To learn more about the Energy Transfer LP class action contact jlevi@levikorsinsky.com.

HEXO Corp. (HEXO)
Class Period:
January 25, 2019 - November 15, 2019
Lead Plaintiff Deadline: January 27, 2020
Join the action: https://www.zlk.com/pslra-1/hexo-corp-loss-form?wire=3&prid=4629

The HEXO lawsuit alleges that, during the class period, HEXO Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) HEXO's reported inventory was misstated as the Company was failing to write down or write off obsolete product that no longer had value; (2) HEXO was engaging in channel-stuffing in order to inflate its revenue figures and meet or exceed revenue guidance provided to investors; (3) HEXO was cultivating cannabis at its facility in Niagara, Ontario that was not appropriately licensed by Health Canada; and (4) 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.

To learn more about the HEXO Corp. class action contact jlevi@levikorsinsky.com.

You have until the lead plaintiff deadlines to request 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



View source version on accesswire.com:
https://www.accesswire.com/568298/CLASS-ACTION-UPDATE-for-ADTN-DBX-ET-and-HEXO-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders