U.S. Markets closed

CLASS ACTION UPDATE for OSTK, ZEN, TIGR and AFI: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, Nov. 18, 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.

Overstock.com, Inc. (OSTK)
Class Period:
May 9, 2019 - September 23, 2019
Lead Plaintiff Deadline: November 26, 2019
Join the action: https://www.zlk.com/pslra-1/overstock-com-inc-loss-form?wire=3&prid=4460

Allegations: Overstock.com, Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (a) it was not true that Overstock would be able to support the launch of its tZERO crypto currency with earnings or cash flow from its retail operations and that whatever marginal improvements defendants had made by cutting costs and engineering earnings could not be sustained so as to generate positive EBITDA or cash from operations necessary to support its crypto currency operations; (b) there were extreme additional risks and substantial volatility in the price of Company shares was foreseeable, given defendants’ undisclosed plan to offer its tZERO Preferred Share Dividend as a means to squeeze short sellers out of Overstock and to prevent them from holding legitimate positions in the Company; (c) there was a foreseeable likelihood that the Company’s ability to accomplish its intended short squeeze would embolden the SEC or even market participants, such as major brokerage houses, to act to prevent this market manipulation; (d) it was not true that Overstock contained adequate systems of internal operational or financial controls, such that Overstock’s quarterly reports filed with the SEC were true, accurate or reliable; (e) as a result of the foregoing, it also was not true that the Company’s quarterly reports filed with the SEC were prepared in accordance with GAAP ad SEC rules; and (f) as a result of the aforementioned adverse conditions which defendants failed to disclose, defendants lacked any reasonable basis to claim that Overstock was operating according to plan, or that Overstock could achieve guidance sponsored and/or endorsed by defendants.

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

Zendesk, Inc. (ZEN)
Class Period:
February 6, 2019 - October 1, 2019
Lead Plaintiff Deadline: December 23, 2019
Join the action: https://www.zlk.com/pslra-1/zendesk-inc-loss-form?wire=3&prid=4460

Allegations: During the class period, Zendesk, Inc. made materially false and/or misleading statements and/or failed to disclose that: (a) Zendesk’s clients had been subject to data breaches dating back to 2016; (b) Zendesk was experiencing slowing demand for its Software as a Service offerings, particularly in Germany, the United Kingdom, and Australia, due in large part to political uncertainty and China trade issues there; and (c) as a result of the foregoing, Zendesk’s business metrics and financial prospects were not as strong as defendants had led the market to believe during the Class Period. 

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

UP Fintech Holding Limited (TIGR)
Class Period:
all persons and entities that purchased or otherwise acquired: (a) Fintech American Depository Shares pursuant and/or traceable to the Company’s initial public offering conducted on or about March 20, 2019; or (b) Fintech securities between March 20, 2019 and May 16, 2019.
Lead Plaintiff Deadline: January 6, 2020
Join the action: https://www.zlk.com/pslra-1/up-fintech-holding-limited-loss-form?wire=3&prid=4460

Allegations: UP Fintech Holding Limited made materially false and/or misleading statements and/or failed to disclose that:  (i) Fintech was experiencing a material decrease in commissions because of a negative trend related to risk-averse investors in the market; (ii) Fintech was unable to absorb costs associated with the rapid growth of its business and its status as a publicly listed company on a U.S. exchange; (iii) Fintech was incurring significant additional expenses related to, inter alia, employee headcount and employee compensation and benefits; (iv) all of the foregoing had led to Fintech significantly increasing operating costs and expenses; and (v) as a result, the documents filed by the Company in connection with the initial public offering were materially false and/or misleading and failed to state information required to be stated therein, and the Company’s Class Period statements were likewise materially false and/or misleading.

To learn more about the UP Fintech Holding Limited class action contact jlevi@levikorsinsky.com.

Armstrong Flooring, Inc. (AFI)
Class Period:
March 6, 2018 - November 4, 2019
Lead Plaintiff Deadline: January 14, 2020
Join the action: https://www.zlk.com/pslra-1/armstrong-flooring-inc-loss-form?wire=3&prid=4460

Allegations: During the class period, Armstrong Flooring, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company had engaged in channel stuffing to artificially boost sales; (2) the Company’s internal control over inventory levels was not effective; and (3) 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 Armstrong Flooring, 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