U.S. Markets closed

The Gross Law Firm Announces Class Actions on Behalf of Shareholders of ADTN, IRBT and PRU

NEW YORK, NY / ACCESSWIRE / December 10, 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=4804&from=1

iRobot Corporation (IRBT)

Investors Affected : November 21, 2016 - October 22, 2019

A class action has commenced on behalf of certain shareholders in iRobot Corporation. The filed complaint alleges that defendants misrepresented the reason for iRobot's acquisitions of Tokyo-based Sales on Demand Corporation and privately-held Robopolis SAS, which was to control the Company's largest distributors so that defendants could inflate sales and revenue figures by stuffing the channel. Defendants further misled investors by repeatedly telling them throughout the Class Period that the Company was seeing continued double-digit revenue growth, and by attributing the growth to increased demand for the Roomba vacuums, when in reality defendants were engaging in channel-stuffing to artificially boost sales. Defendants also misstated that the Company's channel inventory levels had not changed and would not change dramatically from quarter to quarter or year over year, when in fact iRobot was deliberately stuffing the channel in order to claim false revenue growth.

Shareholders may find more information at https://securitiesclasslaw.com/securities/irobot-corporation-loss-submission-form/?id=4804&from=1

Prudential Financial, Inc. (PRU)

Investors Affected : February 15, 2019 - August 2, 2019

A class action has commenced on behalf of certain shareholders in Prudential Financial, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) the Company's reserve assumptions failed to account for adversely developing mortality experience in the Individual Life business segment; (b) the Company was not over-reserved, but instead, its reported reserves, particularly for the Individual Life business segment, were insufficient to satisfy its future policy benefits liabilities; and (c) the Company had materially understated its liabilities and overstated net income as a result of flawed assumptions in calculating mortality experience.

Shareholders may find more information at https://securitiesclasslaw.com/securities/prudential-financial-inc-loss-submission-form/?id=4804&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/569742/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-ADTN-IRBT-and-PRU