NEW YORK, NY / ACCESSWIRE / June 2, 2019 / 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.
Fusion Connect, Inc. (FSNN)
Class Period: August 14, 2018 to April 2, 2019
Lead Plaintiff Deadline: June 17, 2019
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.
Get additional information about the FSNN lawsuit: http://www.kleinstocklaw.com/pslra-1/fusion-connect-inc-loss-submission-form?id=1775&from=1
Metro Bank PLC (MBNKF)
Class Period: March 6, 2018 to May 1, 2019
Lead Plaintiff Deadline: July 29, 2019
During the class period, Metro Bank PLC allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) Metro Bank misclassified the risk terms of many of its loans; (2) accordingly, Metro Bank failed to maintain sufficient capital; (3) this conduct would lead to investigations by the PRA and FCA; (4) this conduct would also lead to the reduction of deposits at Metro Bank from larger commercial and partnership clients; and (5) as a result, Defendants' public statements were materially false and/or misleading at all relevant times.
Get additional information about the MBNKF lawsuit: http://www.kleinstocklaw.com/pslra-1/metro-bank-plc-loss-submission-form?id=1775&from=1
A. O. Smith Corporation (AOS)
Class Period: July 26, 2016 to May 16, 2019
Lead Plaintiff Deadline: July 29, 2019
The complaint alleges that throughout the class period A. O. Smith Corporation made materially false and/or misleading statements and/or failed to disclose 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?id=1775&from=1
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.
SOURCE: The Klein Law Firm
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