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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of PT, BTU and BIIB

·4 min read

NEW YORK, NY / ACCESSWIRE / November 23, 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.

Pintec Technology Holdings Limited (NASDAQ:PT)

This lawsuit is on behalf of shareholders who purchased PT securities pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's October 2018 initial public offering.

A class action has commenced on behalf of certain shareholders in Pintec Technology Holdings Limited. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company erroneously recorded revenue earned from certain technical service fee on a net basis, rather than a gross basis; (2) there were material weaknesses in Pintec's internal control over financial reporting related to cash advances outside the normal course of business to Jimu Group, a related party, and to a non-routine loan financing transaction with a third-party entity, Plutux Labs; (3) as a result of the foregoing, the Company's financial results for fiscal 2017 and 2018 had been misstated; 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/pintec-technology-holdings-limited-loss-submission-form/?id=11154&from=1

Peabody Energy Corporation (NYSE:BTU)

Investors Affected: April 3, 2017 - October 28, 2019

A class action has commenced on behalf of certain shareholders in Peabody Energy Corporation. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) the Company had failed to implement adequate safety controls at the North Goonyella mine to prevent the risk of a spontaneous combustion event; (b) the Company failed to follow its own safety procedures; (c) as a result, the North Goonyella mine was at a heightened risk of shutdown; (d) the Company's low-cost plan to restart operations at the mine posed unreasonable safety and environmental risks; (e) The Australian body responsible for ensuring acceptable health and safety standards, the Queensland Mines Inspectorate, would likely mandate a safer, cost-prohibitive approach; and (f) as a result, there would be major delays in reopening the North Goonyella mine and restarting coal production.

Shareholders may find more information at https://securitiesclasslaw.com/securities/peabody-energy-corporation-loss-submission-form/?id=11154&from=1

Biogen Inc. (NASDAQ:BIIB)

Investors Affected: October 22, 2019 - November 6, 2019

A class action has commenced on behalf of certain shareholders in Biogen Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the larger dataset did not provide necessary data regarding aducanumab's effectiveness; (2) the EMERGE study did not and would not provide necessary data regarding the effectiveness of aducanumab, Biogen's investigational human monoclonal antibody studied for the treatment of early Alzheimer's disease; (3) the PRIME study did not and would not provide necessary data regarding aducanumab's effectiveness; (4) the data provided by the Company to the U.S. Food and Drug Administration's Peripheral and Central Nervous System Drugs Advisory Committee did not support finding efficacy of aducanumab; and (5) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/biogen-inc-loss-submission-form/?id=11154&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/618067/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-PT-BTU-and-BIIB