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CLASS ACTION UPDATE for MBNKF, TUSK, INS and RBGLY: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, July 24, 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.

Metro Bank PLC (MBNKF)
Class Period:
March 6, 2018 - May 1, 2019
Lead Plaintiff Deadline: July 29, 2019
Join the action: https://www.zlk.com/pslra-1/metro-bank-plc-loss-form?wire=3 

The lawsuit alleges: Metro Bank PLC made materially false and/or misleading statements and/or failed to disclose that: (1) Metro Bank misclassified the risk terms of many of its loans; (2) accordingly, Metro Bank failed to maintain sufficient capital; (3) this conduct would lead to investigations by the PRA and FCA; (4) this conduct would also lead to the reduction of deposits at Metro Bank from larger commercial and partnership clients; and (5) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.

To learn more about the Metro Bank PLC class action contact jlevi@levikorsinsky.com.

Mammoth Energy Services, Inc. (TUSK)
Class Period:
October 19, 2017 - June 5, 2019
Lead Plaintiff Deadline: August 9, 2019
Join the action: https://www.zlk.com/pslra-1/mammoth-energy-services-inc-loss-form?wire=3 

The lawsuit alleges: Mammoth Energy Services, Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) Mammoth’s subsidiary, Cobra, improperly obtained two  infrastructure contracts with PREPA that  totaled over $1.8  billion;  (2)  specifically, the contracts were awarded as the result of improper steering and not a competitive RFP process; and (3) as a result, Defendants’ statements about Mammoth’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.   

To learn more about the Mammoth Energy Services, Inc. class action contact jlevi@levikorsinsky.com.

Intelligent Systems Corporation (INS)
Class Period:
January 23, 2019 - May 29, 2019
Lead Plaintiff Deadline: September 9, 2019
Join the action: https://www.zlk.com/pslra-1/intelligent-systems-corporation-loss-form?wire=3 

The lawsuit alleges: Intelligent Systems Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) Defendant Petit, the “financial expert” on the Company’s Audit Committee, engaged in accounting fraud as the CEO of MiMedx Group; (2) the Company’s CEO, Defendant Strange, engaged in undisclosed related-party transactions with Defendant Petit and others and had an undisclosed personal relationship with the Company’s auditor; (3) the Company had its employees set up or take control of shell companies in Asia so they could partake in undisclosed related-party transactions for the purpose of either fabricating revenue for the Company and/or siphoning money out of the Company; and (4) as a result, Defendants’ statements about Intelligent Systems’ business, operations, and prospects were materially false and/or  misleading  and/or lacked a reasonable basis at all relevant times.

To learn more about the Intelligent Systems Corporation class action contact jlevi@levikorsinsky.com.

Reckitt Benckiser Group plc (RBGLY)
Class Period:
On behalf of all purchasers of Reckitt American Depositary Shares (“ADSs”) from July 28, 2014 through April 9, 2019
Lead Plaintiff Deadline: September 13, 2019
Join the action: https://www.zlk.com/pslra-1/reckitt-benckiser-group-plc-loss-form?wire=3 

The lawsuit alleges that, during the class period, Reckitt Benckiser Group plc made materially false and/or misleading statements and/or failed to disclose that: (a) defendants had engaged in a scheme to artificially inflate the sales of Suboxone Film by more than $3 billion by falsely touting the drug’s purportedly superior efficacy and safety as compared to tablets; (b) contrary to defendants’ public statements, the FDA and internal Company documents had concluded that Suboxone Film posed a potentially greater risk of abuse and child endangerment than other available treatments; (c) defendants had fabricated a safety scare involving Suboxone Tablets in order to unlawfully delay and prevent generic competition; (d) defendants had engaged in a massive marketing campaign that had misrepresented the purported benefits of Suboxone Film as compared to Suboxone Tablets to doctors, healthcare providers, government regulators and investors; (e) defendants had encouraged Suboxone sales through medical providers that they knew were overprescribing the drug, facilitating the drug’s abuse and/or prescribing it in a careless and clinically unwarranted manner, often to hundreds of individuals at a time; (f) as a result of (a)-(e) above, Reckitt’s revenues, net income an d earnings were artificially inflated and the product of illicit business practices; and (g) as a result of (a)-(f) above, Reckitt and Reckitt Pharma were exposed to extraordinary undisclosed legal and reputational risks that could result in billions of dollars in fines, lost business and legal judgments or other monetary penalties.

To learn more about the Reckitt Benckiser Group plc 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