NEW YORK, NY / ACCESSWIRE / July 26, 2019 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. 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
Throughout the class period, A. O. Smith Corporation allegedly 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.
Learn about your recoverable losses in AOS: http://www.kleinstocklaw.com/pslra-1/a-o-smith-corporation-loss-submission-form?id=2620&from=1
Eros International Plc (EROS)
Class Period: July 28, 2017 to June 5, 2019
Lead Plaintiff Deadline: August 20, 2019
The complaint alleges that throughout the class period Eros International Plc 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.
Learn about your recoverable losses in EROS: http://www.kleinstocklaw.com/pslra-1/eros-international-plc-loss-submission-form?id=2620&from=1
Netflix, Inc. (NFLX)
Class Period: April 17, 2019 to July 17, 2019
Lead Plaintiff Deadline: September 20, 2019
According to the complaint, Netflix, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) Netflix would not be able to gain its expected target number of new subscribers in the second quarter of 2019; (2) Netflix would also lose subscribers from the United States in the second quarter of 2019; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
Learn about your recoverable losses in NFLX: http://www.kleinstocklaw.com/pslra-1/netflix-inc-loss-submission-form?id=2620&from=1
Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. 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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