NEW YORK, July 24, 2019 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
A. O. Smith Corporation (AOS)
Class Period: July 26, 2016 to May 16, 2019
Lead Plaintiff Deadline: July 29, 2019
The lawsuit alleges A. O. Smith Corporation made materially false and/or misleading statements and/or failed to disclose during the class period that: (a) A.O. Smith had undisclosed business connections and entanglements with UTP through which it funneled up to 75% of its China product sales; (b) A.O. Smith had used UTP to engage in channel stuffing by artificially inflating inventories purportedly sold through distributors that were not based on consumer demand, thereby approximately doubling the normal level of inventory at such distributors; (c) A.O. Smith had used its UTP relationship to artificially inflate the sales figures it reported to investors by as much as 8% and to conceal worsening sales trends that the Company was experiencing in China; (d) A.O. Smith’s sales growth had been primarily in lower margin products as its higher priced products were being undercut by competition in “second-tier” Chinese cities, causing the Company to experience significant margin pressures; (e) A.O. Smith had increased its cash reserves in China to over $530 million in furtherance of its channel stuffing and sales manipulation scheme, encumbering the Company’s ability to repatriate the cash or use it for capital expenditures; and (f) as a result of (a)-(e) above, A.O. Smith’s business, operations, and prospects were significantly worse than publicly represented and the Company was poised for sales and earnings declines in China, its most important international market.
Get additional information about the AOS lawsuit: http://www.kleinstocklaw.com/pslra-1/a-o-smith-corporation-loss-submission-form?wire=3
Eros International Plc (EROS)
Class Period: July 28, 2017 to June 5, 2019
Lead Plaintiff Deadline: August 20, 2019
Eros International Plc allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) Eros and its executives engaged in a scheme to use related-party transactions to fabricate receivables that they reported in Eros’s public financial disclosures; (2) because of this scheme, Eros’s financial position was weaker than what the Company disclosed; (3) consequently, the Company’s Indian subsidiary, Eros International Media Ltd (“EIML”), missed loan payments and had its credit downgraded; and (4) due to the foregoing, Defendants’ statements about Eros’s receivables, business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Get additional information about the EROS lawsuit: http://www.kleinstocklaw.com/pslra-1/eros-international-plc-loss-submission-form?wire=3
FedEx Corporation (FDX)
Class Period: September 19, 2017 to December 18, 2018
Lead Plaintiff Deadline: August 26, 2019
The complaint alleges that during the class period FedEx Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) TNT’s overall package volume growth was slowing as TNT’s large customers permanently took their business to competitors after the Cyberattack; (2) as a result of the customer attrition, TNT was experiencing an increased shift in product mix from higher-margin parcel services to lower-margin freight services; (3) the anticipated costs and timeframe to integrate and restore the TNT network were significantly larger and longer than disclosed; (4) FedEx was not on track to achieve TNT synergy targets; and (5) as a result of these undisclosed negative trends and cost issues, FedEx’s positive statements about TNT’s recovery from the Cyberattack, integration into FedEx’s legacy operations, customer mix, customer service levels, profitability, and prospects lacked a reasonable basis.
Get additional information about the FDX lawsuit: http://www.kleinstocklaw.com/pslra-1/fedex-corporation-loss-submission-form?wire=3
EQT Corporation (EQT)
Class Period: June 19, 2017 to October 24, 2018
Lead Plaintiff Deadline: August 26, 2019
The complaint alleges that throughout the class period EQT Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) land acquired by the Rice Energy merger was not contiguous with the Company’s previously held acreage, which reduced the purported synergy benefits; (2) the purported longer lateral wells were not feasible because of intervening third-party parcels or prior drilling by EQT, Rice, or third parties; and (3) 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.
Get additional information about the EQT lawsuit: http://www.kleinstocklaw.com/pslra-1/eqt-corporation-loss-submission-form?wire=3
Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. There is no cost or obligation to you. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.