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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of LRN, YY and SPLK

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·3 min read
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NEW YORK, NY / ACCESSWIRE / January 19, 2021 / 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.

K12 Inc. (NYSE:LRN)

Investors Affected : April 27, 2020 - September 18, 2020

A class action has commenced on behalf of certain shareholders in K12 Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) K12 lacked the technological capabilities, infrastructures, and expertise to support the increased demand for virtual and blended education necessitated by the global pandemic; (ii) K12 lacked adequate cyberattack protocols and protections to prevent the disabling of its computer system; (iii) K12 was unable provide the necessary levels of administrative support and training to teachers, students, and parents; and (iv) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company's business, operations, and prospects and/or lacked a reasonable basis and omitted facts.

Shareholders may find more information at https://securitiesclasslaw.com/securities/k12inc-loss-submission-form/?id=12256&from=1

Joyy Inc. (NASDAQ:YY)

Investors Affected : April 28, 2016 - November 18, 2020

A class action has commenced on behalf of certain shareholders in Joyy Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) JOYY dramatically overstated its revenues from live streaming sources; (2) The majority of users at any given time were bots; (2) the Company utilized these bots to effect a roundtripping scheme that Manufactured the false appearance of revenues; (3) the Company overstated its cash reserves; (4) the Company's acquisition of Bigo was largely contrived to benefit corporate insiders; and (5) as a result, Defendants' public statements were materially false and/or Misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/joyy-inc-loss-submission-form/?id=12256&from=1

Splunk Inc. (NASDAQ:SPLK)

Investors Affected : October 21, 2020 - December 2, 2020

A class action has commenced on behalf of certain shareholders in Splunk Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Splunk was not closing deals with its largest customers in the third fiscal quarter of 2021; (2) Splunk was not hitting the financial targets it had previously announced; and (3) as a result of the foregoing, Defendants' public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/splunk-inc-loss-submission-form/?id=12256&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



View source version on accesswire.com:
https://www.accesswire.com/624875/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-LRN-YY-and-SPLK