NEW YORK, March 20, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can 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.
The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse facts relating to the U.S. Securities and Exchange Commission's (the "SEC") expanded investigation into the Company's accounting practices, including investigating GE's $23 billion goodwill impairment charge (the "Power Charge"). GE announced the Power Charge on October 1, 2018, and the SEC investigation began shortly after.
The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose material adverse information regarding Astec’s business, operations and prospects, including that its wood pellet plants suffered from significant and costly problems that prevented them from running at their promised production capacity, posing a threat to the Company’s pellet plant business, its overall financial performance, and its financial outlook.
The Complaint alleges that Defendants made materially false and misleading statements and/or failed to disclose that: (1) the inverse ETNs was not appropriate for managing daily trading risks; (2) Credit Suisse had designed the ZIV to fail under certain market conditions; (3) Credit Suisse had offered and sold more inverse ETNs than the market could bear which would enable Credit Suisse to cause the collapse of the inverse ETNs when the opportunity presented itself; and (4) Credit Suisse could actively manipulate inverse ETNs by precipitating an acute liquidity event in volatility markets including markets for VIX futures.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org