NEW YORK, NY / ACCESSWIRE / January 12, 2020 / 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.
Merit Medical Systems, Inc. (MMSI)
Class Period: February 26, 2019 to October 30, 2019
Lead Plaintiff Deadline: February 3, 2020
Merit Medical Systems, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (a) the integrations of acquired companies Cianna Medical, Inc. and Vascular Insights, LLC, including their products, sales people, and R&D facilities, had caused operational disruptions and reduced sales and were months behind schedule; (b) sales of acquired company products had slowed substantially due to pre-acquisition pipeline fill, in particular for Vascular Insights products which, as late as July 2019, had zero orders during FY19; and (c) in light of the foregoing, the Company's reported financial guidance for FY19 and FY20 was made without a reasonable basis.
Learn about your recoverable losses in MMSI: http://www.kleinstocklaw.com/pslra-1/merit-medical-systems-inc-loss-submission-form?id=5234&from=1
Plantronics, Inc. (PLT)
Class Period: July 2, 2018 to November 5, 2019
Lead Plaintiff Deadline: January 13, 2020
According to the complaint, Plantronics, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) the Company had engaged in channel stuffing to artificially boost sales; (2) the Company's internal control over inventory levels was not effective; (3) the Company had not adequately monitored inventory levels ahead of multiple product launches, where the new models would displace demand for aging products; 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.
Learn about your recoverable losses in PLT: http://www.kleinstocklaw.com/pslra-1/plantronics-inc-loss-submission-form?id=5234&from=1
Grubhub Inc. (GRUB)
Class Period: July 30, 2019 to October 28, 2019
Lead Plaintiff Deadline: January 21, 2020
The complaint alleges that throughout the class period Grubhub Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) customer orders were actually declining, despite the massive investments that the Company had made to spur demand for and use of its platform; (ii) Grubhub's new customer additions were generating significantly lower revenues as compared to historic cohorts because these customers were more prone to using competitor platforms; (iii) Grubhub's vaunted business model under which it secured exclusive partnerships had failed, and Grubhub needed to engage in the same aggressive nonpartnered sales tactics embraced by its competitors to generate significant revenue growth; (iv) Grubhub was required to spend substantial additional capital in order to grow revenues and retain market share in the face of heightened competitive dynamics and market saturation, eviscerating the Company's profitability; and (v) Grubhub was tracking tens of millions of dollars below its revenue and earnings guidance and such guidance lacked any reasonable basis.
Learn about your recoverable losses in GRUB: http://www.kleinstocklaw.com/pslra-1/grubhub-inc-loss-submission-form?id=5234&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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