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CLASS ACTION UPDATE for NGHC, ABMD, IFF and MGNX: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, Sept. 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.

National General Holdings Corp. (NGHC)
Class Period:
August 6, 2015 - August 9, 2017
Lead Plaintiff Deadline: September 23, 2019
Join the action: https://www.zlk.com/pslra-1/national-general-holdings-corp-loss-form?wire=3 

Allegations: National General Holdings Corp. made materially false and/or misleading statements and/or failed to disclose that: (a) National General was perpetrating a massive forced-placed CPI scheme to fraudulently saddle its own customers with unwanted and unneeded automobile insurance policies that it had underwritten; (b) National General’s illicit conduct in foisting unwanted and unneeded automobile insurance on its customers had resulted in some of the victims being declared delinquent, suffering adverse impacts to their creditworthiness, and/or having their cars improperly repossessed; (c) National General was exposed to an extreme risk of regulatory scrutiny, legal risks, and reputational harm as a result of its participation in the forced placed CPI scheme; (d) the Company had failed to maintain effective internal controls over its financial reporting, including by failing to maintain formal documentation sufficient to reasonably ensure the accuracy of internal reporting and accounting procedures across much of its business, including with respect to insurance policy premiums; (e) the Company’s reported quarterly revenues and policy premiums were in part the product of a fraudulent forced-placed insurance scheme and were therefore artificially inflated and unsustainable; and (f) National General had in fact lost substantial business with Wells Fargo because Wells Fargo had terminated the forced-placed CPI scheme after concluding that it posed excessive reputational risk and legal exposure.

To learn more about the National General Holdings Corp. class action contact jlevi@levikorsinsky.com.

Abiomed, Inc. (ABMD)
Class Period:
January 31, 2019 - July 31, 2019
Lead Plaintiff Deadline: October 7, 2019
Join the action: https://www.zlk.com/pslra-1/abiomed-inc-loss-form?wire=3 

Allegations: Abiomed, Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (i) Abiomed’s revenue growth was in decline; (ii) the Company did not have a sufficient plan in place to stem its declining revenue growth; (iii) the Company was unlikely to restore its revenue growth over the next several fiscal quarters; (iv) consequently, Abiomed was reasonably likely to revise its full-year 2020 guidance in a way that would fall short of the Company’s prior projections and market expectations; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.

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

International Flavors & Fragrances Inc. (IFF)
Class Period:
May 7, 2018 - August 5, 2019
Lead Plaintiff Deadline: October 11, 2019
Join the action: https://www.zlk.com/pslra-1/international-flavors-fragrances-inc-loss-form?wire=3 

Allegations: International Flavors & Fragrances Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) that Frutarom Industries Ltd. ("Frutarom"), which the Company acquired in 2018, had bribed customers in Russia and Ukraine; (2) that senior management at Frutarom were aware of such improper payments; (3) that, as a result, Frutarom’s financial results were materially overstated; (4) that, as a result of the improper payments, the Company was reasonably likely to face regulatory scrutiny; (5) that the Company had not completed adequate due diligence before acquiring Frutarom; (6) that, as a result of the foregoing, the Company was unlikely to achieve purported synergies from the acquisition; and (7) 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.

To learn more about the International Flavors & Fragrances Inc. class action contact jlevi@levikorsinsky.com.

MacroGenics, Inc. (MGNX)
Class Period:
February 6, 2019 - June 3, 2019
Lead Plaintiff Deadline: November 12, 2019
Join the action: https://www.zlk.com/pslra-1/macrogenics-inc-loss-form?wire=3 

Allegations: During the class period, MacroGenics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) the Company had conducted the progression-free survival (“PFS”) and first interim overall survival (“OS”) analyses for the SOPHIA trial by no later than October 10, 2018; (b) the October 2018 PFS analysis showed a 0.9 month improvement in PFS; and (c) the October 2018 OS interim analysis did not produce a statistically significant result and the interim OS Kaplan-Meier curves crossed in several spots (thereby violating the constant hazard assumption) and separated late.

To learn more about the MacroGenics, 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