CLASS ACTION UPDATE for ARLO, ASTE and CNDT: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, NY / ACCESSWIRE / March 21, 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.
Arlo Technologies, Inc. (ARLO)
Class Period: Investors who purchased shares pursuant and/or traceable to the Company's Registration Statement and Prospectus issued in connection with the August 3, 2018 Initial Public Offering
Lead Plaintiff Deadline: March 25, 2019
Join the action: https://www.zlk.com/pslra-1/arlo-technologies-inc-loss-form?wire=3
The filed complaint alleges that the Registration Statement made materially false and/or misleading statements and/or failed to disclose that: (i) there was a flaw and/or quality issue with Arlo's newly designed battery for its Ultra camera systems; (ii) this flaw and/or quality issue with the Ultra battery could result in a shipping delay of Arlo's Ultra product; (iii) such a shipping delay endangered Arlo's chances of launching the Ultra product in time for the crucial holiday season; (iv) such a shipping delay would allow Arlo's competitors to capitalize on the Ultra product's missed launch, thereby increasing their own market share; (v) Arlo's consumers had been experiencing battery drain issues and other battery-related issues in connection with recent firmware updates; (vi) because of the foregoing, Arlo's fourth quarter 2018 results and consumer base would be negatively impacted; and (vii) as a result, Arlo's Registration Statement was materially false and misleading at all relevant times.
To learn more about the Arlo Technologies, Inc. class action contact jlevi@levikorsinsky.com.
AstecIndustries, Inc. (ASTE)
Class Period: July 26, 2016 - October 22, 2018
Lead Plaintiff Deadline: April 2, 2019
Join the action: https://www.zlk.com/pslra-1/astec-industries-inc-loss-form?wire=3
The complaint alleges that throughout the Class Period, defendants made false and misleading statements and/or failed to disclose adverse information regarding Astec's business, operations and prospects, including that its wood pellet plants suffered from significant and costly problems that prevented them from running at their promised production capacity, posing a threat to the Company's pellet plant business, its overall financial performance, and its financial outlook. As a result of this information being withheld from the market, the price of Astec stock was artificially inflated to a high of nearly $70 per share during the Class Period.
To learn more about the Astec Industries, Inc. class action contact jlevi@levikorsinsky.com.
ConduentIncorporated (CNDT)
Class Period: February 21, 2018 - November 6, 2018
Lead Plaintiff Deadline: May 7, 2019
Join the action: https://www.zlk.com/pslra-1/conduent-incorporated-loss-form?wire=3
The complaint alleges that by February 2018, defendants began to represent to investors that Conduent had exited the transformation phase and had cured inefficiencies caused by operating on multiple information resource platforms. However, as demonstrated by defendants' admissions on November 7, 2018, those representations were false, and Conduent remained mired in inadequate technology and third-party agreements that it had been saddled with upon its divestiture from Xerox. During a November 7, 2018 conference call, CEO Ashok Vemuri stated "we have had continued suboptimal performance from an inherited legacy technology vendor. The performance issues stem from the vendors inability to deliver on service level agreements, lack of responsiveness to Conduent's needs, and poorly structured contracts which we inherited." Vemuri also noted that an "outdated and historically under-invested legacy IT infrastructure has caused major disruptions to our operations and impacted client and delivery performance."
To learn more about the Conduent Incorporated 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
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE: Levi & Korsinsky, LLP
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https://www.accesswire.com/539734/CLASS-ACTION-UPDATE-for-ARLO-ASTE-and-CNDT-Levi-Korsinsky-LLP-Reminds-Investors-of-Class-Actions-on-Behalf-of-Shareholders
