NEW YORK, NY / ACCESSWIRE / September 6, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. To determine your eligibility and get free access to our shareholder support tools that provide you with case updates, automated loss calculations and claims recovery assistance, please contact the firm via the links below. There will be no cost or obligation to you.
Venator Materials PLC (VNTR)
Lawsuit on behalf of: investors who purchased (a) between August 2, 2017 and October 29, 2018, inclusive; (b) in or traceable to the Company’s initial public offering conducted on or around August 3, 2017; and (c) in or traceable to the Company’s secondary public offering conducted on or around December 4, 2017.
Lead Plaintiff Deadline: September 30, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/venator-materials-plc-loss-form?prid=3390&wire=1
According to the filed complaint, (a) the fire damage at the Pori facility was far more extensive than disclosed to investors, rendering the facility beyond repair; (b) the true cost of the Pori facility fire exceeded $1 billion, hundreds of millions of dollars beyond the limits of the Company’s insurance policy; (c) the Company was paying rebuilding premiums, and thereby incurring tens of millions of dollars in additional costs, in a futile attempt to expedite the rehabilitation process; (d) Venator had lost, essentially without prospect of rehabilitation, 80% of the production capacity of the Pori facility, and thus lost a substantial portion of one of its largest revenue producing assets; and (e) the Company’s reported annual Titanium Dioxide production capacity had been inflated by approximately 104,000 metric tons, or 15%.
CVS Health Corporation (CVS)
Lawsuit on behalf of: investors who purchased on behalf of all former Aetna Inc. shareholders who acquired CVS Health Corporation (CVS) shares in exchange for their Aetna shares in connection with CVS’s acquisition of Aetna on November 28, 2018.
Lead Plaintiff Deadline: October 15, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/cvs-health-corporation-loss-form-2?prid=3390&wire=1
According to the filed complaint, CVS made false and/or misleading statements in connection with its acquisition of Aetna and/or failed to disclose that: (a) by the end of 2017, CVS's financial condition and expected earnings had deteriorated as a result of rising costs and poor results being experienced in the long-term care ("LTC") unit associated with the 2015 acquisition of Omnicare; (b) in 2017, deteriorating conditions and prospects in CVS 's LTC unit prompted CVS to undertake hasty acquisitions of LTC pharmacies to compensate for the declining LTC business and/or mask the expected LTC goodwill impairment ahead of the planned Acquisition; (c) although negative LTC performance factors prompted CVS and the CVS Individual Defendants to make hasty LTC pharmacy acquisitions in 2017, those same negative factors were being overlooked and ignored for purposes of undertaking, disclosing, and reporting the results of LTC goodwill impairment tests throughout 2017, in violation of GAAP; (d) the LTC goodwill being carried on CVS's books as a result of the Omnicare acquisition was being carried at inflated values that would require billions of dollars in impairment charges that would be charged against earnings; and (e) as a result of the foregoing, CVS's true business metrics and financial prospects were not as the Offering Documents represented.
Valaris plc (VAL)
Lawsuit on behalf of: investors who purchased April 11, 2019 - July 31, 2019
Lead Plaintiff Deadline: October 21, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/valaris-plc-loss-form?prid=3390&wire=1
According to the filed complaint, during the class period, Valaris plc made materially false and/or misleading statements and/or failed to disclose that: (i) the Company was plagued by a weak ultra-deepwater segment, massive cash usage, and significant negative cash flow; (ii) the foregoing was reasonably likely to have a material negative impact on the Company’s second quarter 2019 results; (iii) the merger leading to Valaris’s establishment could not deliver on its touted benefits; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
You have until the lead plaintiff deadlines to request that 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.
SOURCE: Levi & Korsinsky, LLP
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