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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of BIDU, COTY and NKLA

·3 mins read

NEW YORK, NY / ACCESSWIRE / September 21, 2020 / 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.

Baidu, Inc. (NASDAQ:BIDU)

Investors Affected: April 8, 2016 - August 13, 2020

A class action has commenced on behalf of certain shareholders in Baidu, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Baidu misrepresented the financial and business condition of iQIYI; (2) iQIYI had inadequate controls; and (3) 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/baidu-inc-loss-submission-form-2/?id=9462&from=1

Coty Inc. (NYSE:COTY)

Investors Affected: October 3, 2016 - May 28, 2020

A class action has commenced on behalf of certain shareholders in Coty Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) despite being no stranger to beauty brand acquisitions, Coty did not have adequate processes and procedures in place to assess and properly value the P&G Specialty Beauty Business and Kylie Cosmetics acquisitions; (2) as a result, Coty had overpaid for the P&G Specialty Beauty Business and Kylie Cosmetics; (3) Coty did not have adequate infrastructure to smoothly integrate and support the beauty brands that it acquired from P&G, including an adequate supply chain; (4) as a result of its inadequate infrastructure, Coty was not successfully integrating the beauty brands it acquired from P&G and not delivering synergies from the acquisition; and (5) as a result of the foregoing, Coty's financial statements and Defendants' statements about Coty's business, operations, and prospects, were materially false and/or misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/coty-inc-loss-submission-form/?id=9462&from=1

Nikola Corporation, f/k/a VectoIQ Acquisition Corp. (NASDAQ:NKLA)

Investors Affected: March 3, 2020 - September 15, 2020

A class action has commenced on behalf of certain shareholders in Nikola Corporation, f/k/a VectoIQ Acquisition Corp. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) VectoIQ did not engage in proper due diligence regarding its merger with Nikola; (2) Nikola overstated its "in-house" design, manufacturing, and testing capabilities; (3) Nikola overstated its hydrogen production capabilities; (4) as a result, Nikola overstated its ability to lower the cost of hydrogen fuel; (5) Nikola founder and Executive Chairman, Trevor Milton, tweeted a misleading "test" video of the Company's Nikola Two truck; (6) the work experience and background of key Nikola employees, including Mr. Milton, had been overstated and obfuscated; (7) Nikola did not have five Tre trucks completed; and (8) 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/nikola-corporation-f-k-a-vectoiq-acquisition-corp-loss-submission-form/?id=9462&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/607090/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-BIDU-COTY-and-NKLA