CEDARHURST, N.Y., Jan. 23, 2019 (GLOBE NEWSWIRE) -- The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff and a preliminary estimate of their recoverable losses.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No classes have yet been certified in the actions below. Appointment as lead plaintiff is not required to partake in any recovery.
Aphria Inc. (APHA)
A class action has commenced on behalf of shareholders in Aphria Inc. who purchased shares between July 17, 2018 and December 4, 2018. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Latin American assets acquired by the Company lacked adequate licenses to operate and were overvalued; (2) the acquisition of the Latin American assets would enrich the Company’s CEO and other insiders at the expense of shareholders; and (3) 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.
Shareholders may find more information at https://kseclaw.com/securities/aphria-inc/?wire=3
CURO Group Holdings Corp. (CURO)
A class action has commenced on behalf of shareholders in CURO Group Holdings Corp. who purchased shares between July 31, 2018 and October 24, 2018. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: The complaint alleges that throughout the class period Defendants materially misrepresented to investors the deleterious effect that the up-front loan loss provisioning in connection with a transition of its Canadian inventory to Open-Ended loans was having on the Company’s financial performance and 2018 full-year Company guidance. Because CURO’s Open-End Loans had a materially lower lending yield than the Single-Pay Products, and the portfolio of Open-End Loans was still immature and unseasoned, the up-front loan loss provisioning for these loans was far greater than publicly revealed (and the yield far lower). This caused the Company to materially overstate its 2018 projected financial results, including CURO’s adjusted EBITDA, net revenue and operating earnings.
Shareholders may find more information at https://kseclaw.com/securities/curo-group-holdings-corp/?wire=3
Loma Negra Compañía Industrial Argentina Sociedad Anónima (LOMA)
A class action has commenced on behalf of shareholders in Loma Negra Compañía Industrial Argentina Sociedad Anónima who purchased American Depositary Shares pursuant and/or traceable to the Company’s June 2017 IPO. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: The complaint alleges that the Registration Statement contained untrue statements of material fact and omitted material facts. In particular, the Registration Statement downplayed and misrepresented Loma Negra’s exposure to a massive, ongoing corruption scandal engulfing its majority owner, InterCement Participações S.A. The Registration Statement further misrepresented a purported increased demand for Loma Negra’s cement and other products as a result of economic growth and government funding for public works projects in Argentina, as well as the purported benefits to Loma Negra from that increased demand. The Registration Statement also misrepresented events and trends in the Argentinian economy, as well as Loma Negra’s exposure thereto.
Shareholders may find more information at https://kseclaw.com/securities/loma-negra-compania-industrial-argentina-sociedad-anonima-ads-loss-form/?wire=3
Dentsply Sirona, Inc. (XRAY)
A class action has commenced on behalf of (i) all persons who purchased the common stock of Dentsply Sirona, Inc. (XRAY) between February 20, 2014 and August 7, 2018; (ii) all Dentsply International Inc. shareholders who held shares as of the record date of December 2, 2015 and were entitled to vote with respect to the Acquisition at the January 11, 2016 special meeting of Dentsply International Inc. shareholders; and (iii) all persons who purchased or otherwise acquired the common stock of Dentsply International in exchange for their shares of common stock of Sirona in connection with the Acquisition. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: According to the complaint, during the Class Period, Defendants attributed the Company’s financial performance to the Company’s “innovation,” “operational improvement efforts,” “new products,” and “continued investments in sales and marketing” and told investors that these factors helped the Company succeed despite the “highly competitive” market for its products. In reality, the Company’s financial results had been buoyed by an anticompetitive scheme among the Company’s three primary distributors that suppressed competition in the dental supply market and artificially inflated the price of dental supplies sold by Dentsply. Further, Defendants concealed that an exclusive distribution arrangement that Sirona had with one of its distributors, Patterson Companies, Inc. (“Patterson”), required Patterson to regularly make large minimum purchases regardless of demand and, as a result, by 2015, Patterson had been supplied with so much excess inventory that it could not be sold. This channel-stuffing rendered the Company’s reported sales, financial results and guidance materially false and misleading. In addition, the Company represented that it reported its financial statements, including its goodwill, in accordance with generally accepted accounting principles, or GAAP. In fact, the Company’s reported goodwill was artificially inflated and not reported in accordance with GAAP because it did not reflect the financial impact of the anticompetitive scheme.
Shareholders may find more information at https://kseclaw.com/securities/dentsply-sirona-inc/?wire=3
Kuznicki Law PLLC is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock.
Kuznicki Law PLLC
Daniel Kuznicki, Esq.
445 Central Avenue, Suite 334
Cedarhurst, NY 11516
Phone: (347) 696-1134
Cell: (347) 690-0692
Fax: (347) 348-0967