DEADLINE ALERT for CAN, FKWL, INTZ, LFMD: Law Offices of Howard G. Smith Reminds Investors of Class Actions on Behalf of Shareholders
BENSALEM, Pa., May 10, 2021 (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.
Canaan Inc. (NASDAQ: CAN)
Class Period: February 10, 2021 - April 9, 2021
Lead Plaintiff Deadline: June 14, 2021
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) Canaan had experienced significant ongoing supply chain disruptions during fourth quarter 2020 (“4Q20”); (2) the introduction of Canaan’s next-generation A12 series bitcoin mining machines had cannibalized sales of the older product offerings during the 4Q20; (3) as a result of the foregoing, Canaan’s 4Q20 sales and sales revenues had declined dramatically; and (4) as a result of the foregoing, Canaan was not on track to achieve the strong financial prospects it had led the market to believe.
Franklin Wireless Corp. (NASDAQ: FKWL)
Class Period: September 17, 2020 - April 8, 2021
Lead Plaintiff Deadline: June 15, 2021
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 Franklin’s hotspot devices suffered from battery issues, including overheating, thereby presenting a fire hazard; (2) that, as a result, it was reasonably likely that the Company’s customers would recall Franklin’s devices; (3) that, as a result, Franklin would suffer reputational harm; and (4) 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.
Intrusion Inc. (NASDAQ: INTZ)
Class Period: January 13, 2021 - April 13, 2021
Lead Plaintiff Deadline: June 15, 2021
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 Intrusion’s Shield product was merely a repackaging of existing technology in the Company’s portfolio; (2) that Shield lacked the patents, certifications, and insurance critical to the sale of cybersecurity products; (3) that the Company had overstated the efficacy of Shield’s purported ability to protect against cyberattacks; (4) that, as a result of the foregoing, Intrusion’s Shield was reasonably unlikely to generate significant revenue; and (5) 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.
LifeMD, Inc. (NASDAQ: LFMD)
Class Period: January 19, 2021 - April 13, 2021
Lead Plaintiff Deadline: June 15, 2021
Shareholders with $100,000 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: (1) that many of LifeMD’s executives were associated with Redwood Scientific when it was charged for unlawful autoshipping, abusive telemarketing, and false claims, and that they employed similar practices at the Company; (2) that LifeMD engaged in autoshipping products to unwilling customers to record recurring revenue and the Company made it difficult to cancel such subscriptions; (3) that certain of the purportedly licensed physicians on the Company’s platform were not in fact licensed and faced disciplinary action; (4) that, as a result of the foregoing practices, the Company was reasonably likely to face regulatory scrutiny and/or reputational harm; and (5) 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 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
