The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of DNK, CTMX and CSPR
NEW YORK, NY / ACCESSWIRE / June 26, 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.
Phoenix Tree Holdings Limited (DNK)
Investors affected purchased American Depositary Shares ("ADS") of Phoenix pursuant and/or traceable to prospectuses and registration statements issued in connection with the Company's January 2020 initial public offering
Lead Plaintiff Deadline: June 26, 2020
According to the filed complaint, the documents Phoenix Tree issued in connection with its initial public offering ("IPO") omitted or otherwise misrepresented the nature and level of renter complaints the Company had received before and as of the IPO, as well as the demand in the Chinese residential rental market and the Company's exposure to significant adverse developments resulting from the onset of the coronavirus in China - particularly in Wuhan - at the time of the IPO. After the IPO, reports emerged, indicating that Phoenix was experiencing ongoing problems due to the coronavirus, which was causing financial and other harm to tenants.
Learn about your recoverable losses in DNK: http://www.kleinstocklaw.com/pslra-1/phoenix-tree-holdings-limited-loss-submission-form?id=7595&from=1
CytomX Therapeutics, Inc. (CTMX)
Class Period: May 17, 2018 - May 13, 2020
Lead Plaintiff Deadline: July 20, 2020
According to the complaint, CytomX Therapeutics, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (i) CytomX had downplayed issues with CX-072's efficacy observed in the PROCLAIM-CX-072 clinical program; (ii) CytomX had similarly downplayed issues with CX-2009's efficacy and safety observed in the PROCLAIM-CX-2009 clinical program; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.
Learn about your recoverable losses in CTMX: http://www.kleinstocklaw.com/pslra-1/cytomx-therapeutics-inc-loss-submission-form?id=7595&from=1
Casper Sleep Inc. (CSPR)
in or traceable to the Company's public offering conducted on or around February 7, 2020.
Lead Plaintiff Deadline: August 18, 2020
The CSPR lawsuit alleges that throughout the class period, Casper Sleep Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Casper's profit margins were actually declining, rather than growing; (2) Casper was changing an important distribution partner, costing it 130 basis points of gross margin in the first quarter of 2020 alone; (3) Casper was holding a glut of old and outdated mattress inventory that it was selling at steeply discounted clearance prices, further impairing the Company's profitability; (4) Casper was suffering accelerating losses, further placing its ability to achieve positive cash flows and profitability out of reach; (5) Casper's core operations were not profitable, but were causing the Company to suffer over $40 million in negative cash flows during the first quarter of 2020 alone and doubling its quarterly net loss year over year; (6) as a result of the foregoing, Casper's ability to achieve profitability, implement its growth initiatives, and expand internationally had been misrepresented in the documents issued in connection with Casper's initial public offering, as the Company needed to shutter its European operations, halt all international expansion, jettison over one fifth of its global corporate workforce, and significantly curtail new store openings in order to avoid an imminent cash and liquidity crisis, let alone achieve positive operating cash flows; and (7) as a result of the foregoing, Casper's revenue growth rate was not sustainable and had not positioned the Company to achieve profitability.
Learn about your recoverable losses in CSPR: http://www.kleinstocklaw.com/pslra-1/casper-sleep-inc-loss-submission-form?id=7595&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.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com
SOURCE: The Klein Law Firm
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