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CLASS ACTION UPDATE for GE, MHLD, CTL and CNDT: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, April 01, 2019 (GLOBE NEWSWIRE) -- 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.

General Electric Company (GE)
Class Period:
December 27, 2017 - October 29, 2018
Lead Plaintiff Deadline: April 2, 2019
Join the action: https://www.zlk.com/pslra-1/general-electric-company-loss-form?wire=3

Allegations: General Electric Company made materially false and/or misleading statements and/or failed to disclose that: (i) the design and technology of GE Power’s flagship gas turbines were structurally flawed as they were plagued with an oxidation problem that caused the blades in the H-Class gas turbines to fail; (ii) GE Power’s goodwill was materially overstated, in large part because of such structural issues; (iii) the Company lacked adequate internal and financial controls; and (iv) as a result of the foregoing, Defendant’s public statements were materially false and/or misleading and/or lacked a reasonable basis.

To learn more about the General Electric Company class action contact jlevi@levikorsinsky.com.

Maiden Holdings, Ltd. (MHLD)
Class Period:
March 4, 2014 - November 9, 2018
Lead Plaintiff Deadline: April 12, 2019
Join the action: https://www.zlk.com/pslra-1/maiden-holdings-ltd-loss-form?wire=3

The complaint alleges that during the Class Period, defendants misrepresented the quality and nature of Maiden’s underwriting and risk management policies and practices and the risks of its reinsurance portfolio. In particular, defendants misleadingly claimed that they were subjecting AmTrust’s insurance portfolio to robust analysis and cross-checks to ensure that the Company had appropriately priced the risk of reinsuring AmTrust’s insurance portfolio. In truth, the Company had failed to employ sufficient underwriting and risk management protocols and had largely abdicated its responsibility to ensure that its AmTrust Reinsurance segment priced policies commensurate with the risk assumed by the Company.

To learn more about the Maiden Holdings, Ltd. class action contact jlevi@levikorsinsky.com.

CenturyLink, Inc. (CTL)
Class Period:
May 10, 2018 - March 4, 2019
Lead Plaintiff Deadline: May 6, 2019
Join the action: https://www.zlk.com/pslra-1/centurylink-inc-loss-form?wire=3

Allegations: CenturyLink, Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) CenturyLink had undisclosed material weaknesses in its internal controls over revenue recording processes and the procedures for measuring fair value of assets and liabilities assumed in connection with its Level 3 Communications, Inc. acquisition; (2) consequently, CenturyLink would delay the filing of its Form 10-K for the fiscal year ended December 31, 2018 despite initially reporting those financial results in a press release dated February 13, 2019; and (3) as a result, CenturyLink’s public statements were materially false and misleading at all relevant times.

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

Conduent Incorporated (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