BALA CYNWYD, PA / ACCESSWIRE / October 12, 2019 / Brodsky & Smith, LLC reminds investors of approaching deadlines for lead plaintiff application regarding class action lawsuits against the following companies for violations of federal securities laws. If you purchased any of the below-listed stocks during the referenced time periods and want to discuss your legal rights, please contact Marc Ackerman, Esquire or Jordan Schatz, Esquire at 877-534-2590. There is no cost or financial obligation to you.
VALARIS plc (VAL)
Shares purchased between April 11, 2019 and July 31, 2019
Deadline: October 21, 2019
According to the filed complaint, on July 31, 2019, Valaris issued a press release announcing its second quarter 2019 financial results-which missed market expectations. Upon issuance of the press release, analysts at Seeking Alpha published an article on August 2, 2019, entitled "Valaris PLC - Off To A Bad Start." and noted that Valaris' results "shock[ed] investors with massive cash usage [and] . . . surprisingly weak outlook for the ultra-deepwater segment with further dayrate recovery likely delayed until at least the second half of next year." The article further criticized Valaris' free cash flow for the quarter, which was "negative by a whopping $375 million causing the company's remaining pro forma cash balance adjusted for roughly $741 million in payments related to the recent debt tender offer to decline to just $353 million." Following this news, Valaris' stock price fell $3.25 per share, or approximately 39%, over the two trading sessions following its announcement of its quarterly financial results, to close at $5.02 per share on August 2, 2019.
Additional information can be found at http://www.brodskysmith.com/cases/valaris-plc-nyse-val/ or call 877-534-2590. No cost or obligation to you.
NEKTAR THERAPEUTICS (NKTR)
Shares purchased between February 15, 2019 and August 8, 2019
Deadline: October 18, 2019
According to the complaint, throughout the Class Period, the defendants failed to disclose to investors that: (1) Nektar did not comply with current good manufacturing practices; (2) as a result, batches of NKTR-214 were not produced consistently and differed meaningfully; (3) clinical results from PIVOT-02 differed based on the batch of NKTR-214 used in the study; (4) as a result, the PIVOT-02 study did not produce statistically significant results to support a finding of clinical benefit; and (6) as a result of the foregoing, the defendants' positive statements about Nektar's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Additional information can be found at http://www.brodskysmith.com/cases/nektar-therapeutics-nasdaq-nktr/, or call: 877-534-2590. No cost or obligation.
NETAPP, INC. (NTAP)
Shares purchased between May 22, 2019 and August 1, 2019
Deadline: October 15, 2019
According to the complaint, throughout the Class Period, the defendants failed to disclose to investors that: (1) NetApp was unable to close large deals within the quarter and that the deals were pushed out to subsequent quarters or downsized; (2) as a result, NetApp's revenue would be materially impacted; (3) as a result, NetApp would lower its fiscal 2020 guidance; and (4) as a result of the foregoing, the defendants' positive statements about NetApp's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Additional information can be found at http://www.brodskysmith.com/cases/netapp-inc-nasdaq-ntap/, or call: 877-534-2590. No cost or obligation.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC
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