CEDARHURST, NY / ACCESSWIRE / July 12, 2019 / The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff and a preliminary estimate of their recoverable losses.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No classes have yet been certified in the actions below. Appointment as lead plaintiff is not required to partake in any recovery.
Ascena Retail Group, Inc. (ASNA)
Investors Affected : September 16, 2015 - June 8, 2017
A class action has commenced on behalf of certain shareholders in Ascena Retail Group, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) the ANN Acquisition was a complete disaster for the Company as Ann’s operations were in far worse condition than had been represented to the public; (b) in order to mask the true condition of Ann, Defendants improperly delayed recognizing an impairment charge to the value of Ann’s goodwill and, as a result, Ascena’s reported income and assets were materially overstated and the Company’s financial results were not prepared in conformity with GAAP; (c) many of the brands acquired in the ANN Acquisition were in steep decline and were also materially overvalued on Ascena’s Class Period financial statements; and (d) as a result of the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company, its operations and prospects.
Shareholders may find more information at https://kclasslaw.com/securities/ascena-retail-group-inc-loss-submission-form/?id=2366&from=1
Intelligent Systems Corporation (INS)
Investors Affected : January 23, 2019 - May 29, 2019
A class action has commenced on behalf of certain shareholders in Intelligent Systems Corporation. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Defendant Petit, the “financial expert” on the Company’s Audit Committee, engaged in accounting fraud as the CEO of MiMedx Group; (2) the Company’s CEO, Defendant Strange, engaged in undisclosed related-party transactions with Defendant Petit and others and had an undisclosed personal relationship with the Company’s auditor; (3) the Company had its employees set up or take control of shell companies in Asia so they could partake in undisclosed related-party transactions for the purpose of either fabricating revenue for the Company and/or siphoning money out of the Company; and (4) as a result, Defendants’ statements about Intelligent Systems’ business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
Shareholders may find more information at https://kclasslaw.com/securities/intelligent-systems-corporation-loss-submission-form/?id=2366&from=1
CannTrust Holdings Inc. (CTST)
Investors Affected : November 14, 2018 - July 5, 2019
A class action has commenced on behalf of certain shareholders in CannTrust Holdings Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was growing cannabis in its Pelham greenhouse while applications for regulatory approval were still pending; (2) the Company’s Pelham greenhouse did not comply with certain regulations; (3) as a result, the Company was reasonably likely to face an inventory hold by Health Canada until the Pelham facility becomes compliant with applicable regulations; (4) as a result, the Company’s customers would face shortages and would likely seek product from CannTrust’s competitors; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
Shareholders may find more information at https://kclasslaw.com/securities/canntrust-holdings-inc-loss-submission-form/?id=2366&from=1
Kuznicki Law PLLC is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
Kuznicki Law PLLC
Daniel Kuznicki, Esq.
445 Central Avenue, Suite 344
Cedarhurst, NY 11516
Phone: (347) 696-1134
Cell: (347) 690-0692
Fax: (347) 348-0967
SOURCE: Kuznicki Law PLLC
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