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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of ADTN, MDP and SDC

NEW YORK, NY / ACCESSWIRE / October 27, 2019 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

ADTRAN, Inc. (ADTN)

Investors Affected : February 28, 2019 - October 9, 2019

A class action has commenced on behalf of certain shareholders in ADTRAN, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) there were material weaknesses in the Company's internal control over financial reporting; (2) as a result, certain E&O reserves had been improperly reported; (3) as a result, the Company's financial results for certain periods were misstated; (4) there would be a pause in shipments to the Company's Latin American customer; and (5) 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.

Shareholders may find more information at https://securitiesclasslaw.com/securities/adtran-inc-loss-submission-form/?id=4050&from=1

Meredith Corporation (MDP)

Investors Affected : January 31, 2018 - September 5, 2019

A class action has commenced on behalf of certain shareholders in Meredith Corporation. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Time, Inc. acquisition was not as profitable as the Company had claimed; (2) the Company would incur additional costs for strategic investments to improve the Time business; (3) as a result, the Company's earnings would be materially and adversely impacted; and (4) 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.

Shareholders may find more information at https://securitiesclasslaw.com/securities/meredith-corporation-loss-submission-form/?id=4050&from=1

Smiledirectclub, Inc. (NASDAQ:SDC)

Investors Affected : on behalf of persons and entities that purchased or otherwise acquired SmileDirectClub Class A common stock pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's September 2019 initial public offering

A class action has commenced on behalf of certain shareholders in Smiledirectclub, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) administrative personnel, rather than licensed doctors, provided treatment to the Company's customers and monitored their progress; (2) as a result, the Company's practices did not qualify as teledentistry under applicable standards; (3) as a result, the Company was subject to regulatory scrutiny for the unlicensed practice of dentistry; (4) the efficacy of the Company's treatment was overstated; (5) the Company had concealed these deceptive marketing practices prior to the IPO; and (6) 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.

Shareholders may find more information at https://securitiesclasslaw.com/securities/smiledirectclub-inc-loss-submission-form/?id=4050&from=1

The Gross Law Firm 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.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm



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https://www.accesswire.com/564316/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-ADTN-MDP-and-SDC