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CLASS ACTION UPDATE for LYFT, CBL, AOS and RMED: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, June 17, 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.

Lyft, Inc. (LYFT)
Class Period:
pursuant or traceable to the Company's Offering and Registration Statement issued in relation to the March 28, 2019 IPO
Lead Plaintiff Deadline: July 16, 2019
Join the action: https://www.zlk.com/pslra-1/lyft-inc-loss-form?wire=3 

According to the lawsuit, Lyft’s Offering materials issued in connection with its IPO failed to disclose that: (1) Lyft’s claimed ridesharing position was overstated; (2) more than 1,000 of the bicycles in Lyft’s rideshare program suffered from safety issues that would lead to their recall; (3) Lyft’s drivers were becoming disincentivized from driving for Lyft; (4) Lyft failed to warn investors that a labor disruption could affect its operations; and (5) as a result, Lyft’s public statements were materially false and misleading at all relevant times. 

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

CBL & Associates Properties, Inc (CBL)
Class Period:
November 8, 2017 - March 26, 2019
Lead Plaintiff Deadline: July 17, 2019
Join the action: https://www.zlk.com/pslra-1/cbl-associates-properties-inc-loss-form?wire=3 

The lawsuit alleges: CBL & Associates Properties, Inc made materially false and/or misleading statements throughout the class period and/or failed to disclose that: the Company was the target of a class action suit that could result in tens of millions or even hundreds of millions of dollars in liability.  The Complaint further alleges that Defendants completely ignored their disclosure obligation, motivated by a desire to avoid bad publicity surrounding their dishonest nature and their dishonest conduct.  When the truth was revealed, CBL shares materially declined in price, injuring the class.

To learn more about the CBL & Associates Properties, Inc class action contact jlevi@levikorsinsky.com.

A. O. Smith Corporation (AOS)
Class Period:
July 26, 2016 - May 16, 2019
Lead Plaintiff Deadline: July 29, 2019
Join the action: https://www.zlk.com/pslra-1/a-o-smith-corporation-loss-form?wire=3 

The lawsuit alleges that, during the class period, A. O. Smith Corporation made materially false and/or misleading statements and/or failed to disclose that: (a) A.O. Smith had undisclosed business connections and entanglements with UTP through which it funneled up to 75% of its China product sales; (b) A.O. Smith had used UTP to engage in channel stuffing by artificially inflating inventories purportedly sold through distributors that were not based on consumer demand, thereby approximately doubling the normal level of inventory at such distributors; (c) A.O. Smith had used its UTP relationship to artificially inflate the sales figures it reported to investors by as much as 8% and to conceal worsening sales trends that the Company was experiencing in China; (d) A.O. Smith’s sales growth had been primarily in lower margin products as its higher priced products were being undercut by competition in “second-tier” Chinese cities, causing the Company to experience significant margin pressures; (e) A.O. Smith had increased its cash reserves in China to over $530 million in furtherance of its channel stuffing and sales manipulation scheme, encumbering the Company’s ability to repatriate the cash or use it for capital expenditures; and (f) as a result of (a)-(e) above, A.O. Smith’s business, operations, and prospects were significantly worse than publicly represented and the Company was poised for sales and earnings declines in China, its most important international market.

To learn more about the A. O. Smith Corporation class action contact jlevi@levikorsinsky.com.

RA Medical Systems, Inc. (RMED)
Class Period:
stockholders that purchased Ra Medical securities pursuant and/or traceable to the Company’s September 2018 initial public offering.
Lead Plaintiff Deadline: August 6, 2019
Join the action: https://www.zlk.com/pslra-1/ra-medical-systems-inc-loss-form?wire=3 

The lawsuit alleges: RA Medical Systems, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company’s evaluation of sales personnel candidates was inadequate; (2) the Company’s training program for sales personnel was inadequate; (3) as a  result,  the  Company  could  not  reasonably  assure  that  its  newly  hired  sales  personnel  were  adequately  experienced;  (4) as  a  result,  the  Company  would  suffer a shortage of qualified sales personnel; (5) the Company’s manufacturing process  could  not  reasonably  support  increased  catheter  production;  (6) as  a  result, the Company would suffer production delays; and (7) 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 RA Medical Systems, Inc. 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