NEW YORK, NY / ACCESSWIRE / March 8, 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.
Sogou Inc. (SOGO)
Class Period: Purchasers of American Depositary Shares pursuant and/or traceable to Sogou's false and misleading Registration Statement and Prospectus issued in connection with the Company's initial public offering on November 9, 2017
Lead Plaintiff Deadline: March 11, 2019
The lawsuit alleges that throughout the class period, Sogou Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Chinese regulators were analyzing Sogou for regulatory action because of an increase in Sogou merchants' sales of counterfeit goods; (ii) Chinese regulators were analyzing Sogou for regulatory action because Sogou's existing software, advertising procedures, personnel, and audit procedures were insufficient to safeguard against compliance violations with governing Chinese regulations, and would need to be updated, enhanced, and strengthened, thus resulting in increased expenses; (iii) Sogou's cost of revenues were skyrocketing primarily because of significant increases in Traffic Acquisition Cost, which is a primary driver of Sogou's cost of revenues, as Sogou was dealing with significant price inflation from increased competition; (iv) Sogou was going to alter its strategy concerning smart hardware and push the Company's AI capabilities to increase product competitiveness; (v) as a result of altering its smart hardware strategy, Sogou had already decided to phase out non-AI-enabled hardware products, such as legacy models of Teemo Smart Watch, and transition to use products integrating AI technologies, which Sogou hoped would reduce its hardware revenue in the second half of 2018; and (vi) as a result of the foregoing, Sogou's public statements were materially false and misleading at all relevant times.
Get additional information about the SOGO lawsuit: http://www.kleinstocklaw.com/pslra-1/sogou-inc-loss-submission-form?wire=3
Markel Corporation (MKL)
Class Period: July 26, 2017 to December 6, 2018
Lead Plaintiff Deadline: March 12, 2019
The lawsuit alleges that Markel Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) the Company's subsidiaries did not appropriately record loss reserves; (2) as a result, the loss reserves would need to be adjusted and/or restated; (3) these misleading accounting practices would lead to regulatory scrutiny and financial loss to investors; 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.
Get additional information about the MKL lawsuit: http://www.kleinstocklaw.com/pslra-1/markel-corporation-loss-submission-form?wire=3
Class Period: May 10, 2018 to March 4, 2019
Lead Plaintiff Deadline: May 6, 2019
The lawsuit alleges CenturyLink, Inc. made materially false and/or misleading statements and/or failed to disclose during the class period that: (1) CenturyLink had undisclosed material weaknesses in its internal controls over revenue recording processes and the procedures for measuring fair value of assets and liabilities assumed in connection with its Level 3 Communications, Inc. acquisition; (2) consequently, CenturyLink would delay the filing of its Form 10-K for the fiscal year ended December 31, 2018 despite initially reporting those financial results in a press release dated February 13, 2019; and (3) as a result, CenturyLink's public statements were materially false and misleading at all relevant times.
Get additional information about the CTL lawsuit: http://www.kleinstocklaw.com/pslra-1/centurylink-inc-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.
SOURCE: The Klein Law Firm
View source version on accesswire.com: