CEDARHURST, N.Y., March 19, 2019 (GLOBE NEWSWIRE) -- 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.
Molson Coors Brewing Company (TAP)
Investors Affected: February 14, 2017 - February 12, 2019
A class action has commenced on behalf of certain shareholders in Molson Coors Brewing Company. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Molson Coors failed to properly reconcile the outside basis deferred income tax liability for Molson Coors’ investment in its MillerCoors, LLC partnership; (2) consequently, Molson Coors misreported net income in its consolidated financial statements for the fiscal years ending December 31, 2016 and December 31, 2017, resulting in an overall downward revision to net income; (3) Molson Coors lacked adequate internal controls over financial reporting; and (4) as a result, defendants’ statements about Molson Coors’ business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders may find more information at https://kclasslaw.com/securities/molson-coors-brewing-company-loss-submission-form/?wire=3
United Microelectronics Corporation (UMC)
Investors Affected: October 28, 2015 - November 1, 2018
A class action has commenced on behalf of certain shareholders in United Microelectronics Corporation. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) UMC conspired with Fujian to steal trade secrets from Micron relating to its research and development of Dynamic Random-Access Memory ("DRAM"); (ii) UMC hired former Micron employees for the purpose of stealing such information from Micron; (iii) the foregoing conduct placed UMC and certain of its employees at an increased risk of criminal and regulatory investigation by the U.S. government; and (iv) as a result, UMC’s public statements were materially false and misleading at all relevant times.
Shareholders may find more information at https://kclasslaw.com/securities/united-microelectronics-corporation-loss-submission-form/?wire=3
Conduent Incorporated (CNDT)
Investors Affected: February 21, 2018 - November 6, 2018
A class action has commenced on behalf of certain shareholders in Conduent Incorporated. The complaint alleges that by February 2018, defendants began to represent to investors that Conduent had exited the transformation phase and had cured inefficiencies caused by operating on multiple information resource platforms. However, as demonstrated by defendants’ admissions on November 7, 2018, those representations were false, and Conduent remained mired in inadequate technology and third-party agreements that it had been saddled with upon its divestiture from Xerox. During a November 7, 2018 conference call, CEO Ashok Vemuri stated “we have had continued suboptimal performance from an inherited legacy technology vendor. The performance issues stem from the vendors inability to deliver on service level agreements, lack of responsiveness to Conduent’s needs, and poorly structured contracts which we inherited.” Vemuri also noted that an “outdated and historically under-invested legacy IT infrastructure has caused major disruptions to our operations and impacted client and delivery performance.”
Shareholders may find more information at https://kclasslaw.com/securities/conduent-incorporated-loss-submission-form/?wire=3
NIO Inc. (NIO)
Investors Affected: Purchasers of American Depositary Shares between September 12, 2018 and March 5, 2019
A class action has commenced on behalf of certain shareholders in NIO Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) NIO would not be building its own manufacturing plant and would instead continue to rely on JAC Auto to manufacture its vehicles; (2) reductions in government subsidies for electric cars would materially impact NIO’s sales; and (3) as a result, Defendants’ statements about NIO’s business, operations, and prospects were materially false and misleading at all relevant times.
Shareholders may find more information at https://kclasslaw.com/securities/nio-inc-loss-submission-form/?wire=3
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.
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