DEADLINE ALERT for FAF, ZSAN, BMWYY, WFC, : Law Offices of Howard G. Smith Reminds Investors of Class Actions on Behalf of Shareholders
BENSALEM, Pa., Dec. 16, 2020 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith reminds investors that class action lawsuits have been filed on behalf of shareholders of the following publicly-traded companies. Investors have until the deadlines listed below to file a lead plaintiff motion.
Investors suffering losses on their investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in these class actions at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
First American Financial Corporation (NYSE: FAF)
Class Period: February 17, 2017- October 22, 2020
Lead Plaintiff Deadline: December 24, 2020
The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company failed to implement basic security standards to protect its customers’ sensitive personal information and data; (2) First American Financial faced a heightened risk of cybersecurity failure due to its automation and efficiency initiatives; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
Zosano Pharma Corporation (NASDAQ: ZSAN)
Class Period: February 13, 2017 - September 30, 2020
Lead Plaintiff Deadline: December 28, 2020
The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company's clinical results reflected differences in zolmitriptan exposures observed between subjects receiving different lots; (2) that pharmocokinetic studies submitted in connection with the Company's NDA included patients exhibiting unexpected high plasma concentrations of zolmitriptan; (3) that, as a result of the foregoing differences among patient results, the FDA was reasonably likely to require further studies to support regulatory approval of Qtrypta; (4) that, as a result, regulatory approval of Qtrypta was reasonably likely to be delayed; and (5) as a result of the foregoing, Defendants' public statements were materially false and misleading at all relevant times.
Bayerische Motoren Werke Aktiengesellschaft (OTC: BMWYY)
Class Period: November 3, 2015 - September 24, 2020
Lead Plaintiff Deadline: December 28, 2020
Shareholders with $100,000 in losses or more are encouraged to contact the firm
The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) BMW kept a “bank” of retail vehicle sales that it used to meet internal monthly sales targets regardless of when the sales actually occurred; (2) BMW artificially manipulated sales figures by having dealers register cars as sold when the cars were still in inventory; and (3) BMW’s key operating metrics were inaccurate and misleading due to the forgoing facts.
Wells Fargo & Company (NYSE: WFC)
Class Period: October 13, 2017 - October 13, 2020
Lead Plaintiff Deadline: December 29, 2020
Shareholders with $50,000 in losses or more are encouraged to contact the firm
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Wells Fargo had systematically failed to follow appropriate underwriting standards and due diligence guidelines in issuing billions of dollars’ worth of commercial loans, including by inflating the net income and future expected cash flows of its commercial clients to justify issuing excessive loan amounts; (2) a materially higher proportion of Wells Fargo’s commercial loans were to customers of poor credit quality and/or at a substantially higher risk of default than disclosed to investors; (3) Wells Fargo had failed to timely write down commercial loans, CLOs and CMBS on its books that had suffered impairments; (4) Wells Fargo had materially understated the reserves needed for expected credit losses in its commercial portfolios; (5) Wells Fargo had systematically misrepresented the credit quality and likelihood of default of the loans it packaged and securitized into CLOs and CMBS, including by artificially inflating the net income and expected cash flows of its commercial clients in loan and securitization documentation; (6) the CLO and CMBS-related loans issued and investment securities held by Wells Fargo were of lower credit quality and worth far less than represented to investors; (7) as a result of the foregoing, the Company’s statements regarding the credit quality of its commercial loans, its underwriting and due diligence practices, and the value of its CLO and CMBS books were materially false and misleading; and (8) as a result of the foregoing, the Company was exposed to severe undisclosed risks of financial, reputational and legal harm, in particular in the event of significant and sustained stress in the commercial credit markets.
To be a member of these class actions, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about these class actions, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
