NEW YORK, NY / ACCESSWIRE / September 23, 2020 / Jakubowitz Law announces that securities fraud class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies who purchased shares within the class periods listed below. Shareholders interested in representing the class of wronged shareholders have until the lead plaintiff deadline to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. For more details and to speak with our firm without cost or obligation, follow the links below.
Eastman Kodak Company (NYSE:KODK)
CONTACT JAKUBOWITZ ABOUT KODK:
Class Period: July 27, 2020 - August 11, 2020
Lead Plaintiff Deadline: October 13, 2020
According to a filed complaint, defendants failed to disclose that the Company had granted its Executive Chairman, James Continenza, and several other Company insiders millions of dollars' worth of stock options immediately prior to the Company publicly disclosing that it had received the $765 million loan, which Defendants knew would cause Kodak's stock to immediately increase in value once the deal was announced. In addition, while in possession of this material non-public information, Continenza and other Company insiders purchased tens of thousands of the Company's shares immediately prior to the announcement, again at prices that they knew would increase exponentially once news of the loan became public.
Fastly, Inc. (NYSE:FSLY)
CONTACT JAKUBOWITZ ABOUT FSLY:
Class Period: May 6, 2020 - August 5, 2020
Lead Plaintiff Deadline: October 26, 2020
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Fastly's largest customer was ByteDance, operator of TikTok, which was known to have serious security risks and was under intense scrutiny by U.S. officials; (2) there was a material risk that Fastly's business would be adversely impacted should any adverse actions be taken against ByteDance or TikTok by the U.S. government; and (3) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Colony Credit Real Estate, Inc. (NYSE:CLNC)
CONTACT JAKUBOWITZ ABOUT CLNC:
This lawsuit is on behalf of persons and/or entities who purchased or otherwise acquired the common stock of Colony Credit pursuant and/or traceable to the Company's false and/or misleading Registration Statement and Prospectus issued in connection with the combination of Colony NorthStar, Inc., NorthStar Real Estate Income Trust, Inc., and NorthStar Real Estate Income II, Inc. on or about February 1, 2018 (the "Merger").
Lead Plaintiff Deadline: November 9, 2020
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the credit quality of certain of the Company's assets had deteriorated prior to the Merger, and were continuing to deteriorate at the time of the Merger; (ii) certain of the Company's loans, including four loans of approximately $261 million related to a New York hotel, were substantially impaired, there was insufficient collateral to secure the loans, and it was unlikely that the loans would be repaid; (iii) as a result, the valuation attributed to certain of the Company's assets was overstated; (iv) that certain of the assets contributed as part of the Merger were of substantially lower value than reflected in the Company's financial statements and the Registration Statement; (v) as a result, the Company's financial condition, including its book value, was materially overstated; and (vi) as a result of the foregoing, the positive statements in the Registration Statement about the Company's business, operations, and prospect were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE: Jakubowitz Law
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