NEW YORK, NY / ACCESSWIRE / June 12, 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.
Bloom Energy Corporation (BE)
Investors Affected : on behalf of all persons who purchased or otherwise acquired Bloom Energy common stock pursuant or traceable to Bloom Energy's July 2018 IPO.
A class action has commenced on behalf of certain shareholders in Bloom Energy Corporation. The complaint alleges that Bloom Energy's Registration Statement was materially misleading as it failed to disclose known events and trends that were severely affecting the Company's business and that made investment in Bloom Energy significantly riskier than presented in the Registration Statement. In particular, the Registration Statement failed to disclose that the Company was experiencing material construction delays. These construction delays would cause system deployments (or "acceptances" as Defendants referred to them) to fall significantly below even the low end of the Company's previously announced guidance.
While the Registration Statement purported to warn of risks that "may arise," which could materially affect the Company, in actuality these material negative events were already occurring. As a result, the representations and purported risk disclosures were false and misleading because, by the time of the IPO, construction delays had already impacted or would soon impact Bloom Energy's ability to deliver acceptances in line with its guidance.
Shareholders may find more information at https://securitiesclasslaw.com/securities/bloom-energy-corporation-loss-submission-form/?id=1921&from=1
Fusion Connect, Inc. (OTC PINK: FSNN)
Investors Affected : August 14, 2018 - April 2, 2019
A class action has commenced on behalf of certain shareholders in Fusion Connect, Inc. The complaint alleges that Fusion made materially false and misleading statements, later admitting that the process used by certain of its Birch subsidiaries for capitalizing costs associated with the customer on-boarding process and the related judgments and estimates were not designed with sufficient precision, leading to an overstatement of the Company's earnings (or net loss) of between $1.7 million and $2.3 million in the quarter ending on June 30, 2018, and between $3.4 million and $4.1 million in the quarter ending September 30, 2018.
Shareholders may find more information at https://securitiesclasslaw.com/securities/fusion-connect-inc/?id=1921&from=1
Cloudera, Inc. (CLDR)
Investors Affected : April 28, 2017 - June 5, 2019
A class action has commenced on behalf of certain shareholders in Cloudera, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Cloudera was finding it increasingly difficult to identify large enterprises interested in adopting the Company's Hadoop-based platform; (ii) Cloudera needed to expend an increasing amount of capital on sales and marketing activities to generate new revenues, even as new revenue opportunities were diminishing; and (iii) Cloudera had materially diminished sales opportunities and prospects and could not generate annual positive cash flows.
Shareholders may find more information at https://securitiesclasslaw.com/securities/cloudera-inc-loss-submission-form/?id=1921&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.
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Phone: (212) 537-9430
Fax: (833) 862-7770
SOURCE: The Gross Law Firm
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