SAN FRANCISCO, July 8, 2019 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP reminds TUSK, RMED, AAC and CLDR investors that class action lawsuits have commenced on behalf of investors against the following public companies and lead plaintiff filing deadlines are approaching.
Mammoth Energy Services, Inc. (TUSK)
CLASS PERIOD: Oct. 19, 2017 - June 5, 2019
LEAD PLAINTIFF DEADLINE: Aug. 6, 2019
DATE FILED: June 7, 2019
For more information: https://www.hbsslaw.com/cases/TUSK
According to the complaint, Defendants misrepresented and concealed that Mammoth's subsidiary, Cobra obtained infrastructure contracts totaling $1.8 billion with Puerto Rico Electric Power Authority (PREPA) through improper steering and anticompetitive practices.
"We're focused on investors' losses and whether the PREPA contracts were awarded to the Company as the result of improper steering and not a competitive RFP process," said Hagens Berman partner Reed Kathrein.
Ra Medical Systems, Inc. (RMED)
RELEVANT PERIOD: Sept. 26, 2018 IPO
LEAD PLAINTIFF DEADLINE: Aug. 9, 2019
DATE FILED: June 10, 2019
For more information: https://www.hbsslaw.com/cases/RMED
According to the complaint, Ra Medical's Registration Statement in connection with the Company's September 26, 2018 Initial Public Offering ("IPO") misrepresented and concealed sales personnel issues and problems in the Company's manufacturing process for catheters.
"We're focused on investors' losses and whether Defendants had visibility into the sales personnel and execution problems at the time of the September 26, 2018 IPO," said Hagens Berman partner Reed Kathrein.
AAC Holdings, Inc. (AAC)
RELEVANT PERIOD: Mar. 8, 2017 – Apr. 15, 2019
LEAD PLAINTIFF DEADLINE: July 15, 2019
DATE FILED: May 16, 2019
For more information: https://www.hbsslaw.com/cases/AAC
According to the complaint, Defendants misled investors in part by concealing (1) AAC's internal controls over financial reporting were inadequate, and (2) AAC misstated historical financial and operating reports.
"We're focused on investors' losses, Defendants' revenue recognition practices, and the extent to which investors may have been misled," said Hagens Berman partner Reed Kathrein.
Cloudera Inc. (CLDR)
RELEVANT PERIOD: Apr. 28, 2017 - June 5, 2019
LEAD PLAINTIFF DEADLINE: August 6, 2019
DATE FILED: June 7, 2019
For more information: https://www.hbsslaw.com/cases/CLDR
According to the complaint, Defendants misrepresented and concealed: (1) Cloudera's ability to identify large enterprises interested in adopting the Company's Hadoop-based platform; (2) that Cloudera needed to expend and increasing amount of capital on sales and marketing activities to generate new revenues, even as new revenue opportunities were diminishing; and (3) that Cloudera had materially diminished sales opportunities and prospects and could not generate annual positive cash flow.
"We're focused on investors' losses and the extent to which Defendants may have misled investors about the demand for its Hadoop-based platform," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities and 80 attorneys representing investors, whistleblowers, workers and consumers in complex litigation. The firm has recovered hundreds of millions of dollars for institutional and individual investors. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
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