NEW YORK, Oct. 09, 2019 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP announces that class action complaints have been filed on behalf of shareholders of TME, OSTK, and ECOR. If you wish to serve as lead plaintiff, you must move the court by the lead plaintiff deadlines listed below. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you take no action, you may remain an absent class member.
To discuss the cases below please contact Matthew E. Guarnero toll free at (877) 779-1414.
Tencent Music Entertainment Group (TME)
CLASS PERIOD: 12/12/2018-08/26/2019
LEAD PLAINTIFF DEADLINE: November 25, 2019
Defendants made false and/or misleading statements and/or failed to disclose that: (i) Tencent Music's exclusive licensing arrangements with major record labels were anticompetitive; (ii) consequently, sublicensing such content from Tencent Music was unreasonably expensive, in violation of Chinese antimonopoly laws; (iii) these anticompetitive efforts were reasonably likely to lead to regulatory scrutiny; and (iv) 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.
Overstock.com, Inc. (OSTK)
CLASS PERIOD: 05/09/2019-09/23/2019
LEAD PLAINTIFF DEADLINE: November 26, 2019
Defendants made false and/or misleading statements and/or failed to disclose: (i) that the Defendants had engineered the tZERO offering as revenge upon short sellers and tried to create a short squeeze by offering a digital token dividend that would not be registered and could not be resold for at least 6 months; and (ii) that there were substantial risks to this plan; (iii) that Overstock’s incredibly high Directors & Officers insurance rates and other problems were causing the Company to miss earnings projections for the year.
CLASS PERIOD: 06/19/2018-09/25/2019
LEAD PLAINTIFF DEADLINE: November 25, 2019
Defendants made false and/or misleading statements and/or failed to disclose to investors: (i) that the Company’s lead product, gammaCore, did not enjoy any advantages over other acute treatments for migraines and episodic cluster headaches; (ii) that, as a result, doctors and patients were unlikely to adopt gammaCore over existing treatments; (iii) that the Company’s voucher program was not effective to increase adoption of gammaCore; (iv) that the Company lacked sufficient resources to successfully commercialize gammaCore; (v) that the Company’s business plan and strategy was not sustainable because electroCore lacked sufficient revenue to be profitable; (vi) that the Company’s product registry and efforts were ineffective to initiate reimbursement policies by commercial payors for gammaCore; (vii) that the lack of reimbursement would materially impact adoption and sales of gammaCore; (viii) that the Company lacked sufficient clinical data demonstrating that gammaCore was effective and safe for migraine prevention; (ix) that, as a result, the Company’s 510(k) submission for the use of gammaCore for migraine prevention was unlikely to be approved by the FDA; and (x) 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.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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