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LAWSUITS FILED AGAINST PT, TCMD and LRN - Jakubowitz Law Pursues Shareholders Claims

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  • PT
  • TCMD
  • LRN

NEW YORK, NY / ACCESSWIRE / November 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.

Pintec Technology Holdings Limited (NASDAQ:PT)

CONTACT JAKUBOWITZ ABOUT PT:
https://claimyourloss.com/securities/pintec-technology-holdings-limited-loss-submission-form/?id=11150&from=1

This lawsuit is on behalf of shareholders who purchased PT securities pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's October 2018 initial public offering.

Lead Plaintiff Deadline : November 30, 2020

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company erroneously recorded revenue earned from certain technical service fee on a net basis, rather than a gross basis; (2) there were material weaknesses in Pintec's internal control over financial reporting related to cash advances outside the normal course of business to Jimu Group, a related party, and to a non-routine loan financing transaction with a third-party entity, Plutux Labs; (3) as a result of the foregoing, the Company's financial results for fiscal 2017 and 2018 had been misstated; 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.

Tactile Systems Technology, Inc. (NASDAQ:TCMD)

CONTACT JAKUBOWITZ ABOUT TCMD:
https://claimyourloss.com/securities/tactile-systems-technology-inc-loss-submission-form/?id=11150&from=1

Class Period : May 7, 2018 - June 8, 2020

Lead Plaintiff Deadline : November 30, 2020

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) while Tactile publicly touted a $4 plus billion or $5 plus billion market opportunity, in truth, the total addressable market for Tactile's pneumatic compression devices was materially smaller; (2) to induce sales growth and share gains, Tactile and/or its employees were engaged in illicit and illegal sales and marketing activities in violation of applicable federal and state rules and public payer regulations; (3) the foregoing illicit and illegal sales and marketing activities increased the risk of a Medicare audit of Tactile's claims and criminal and civil liability; (4) Tactile's revenues were in part the product of unlawful conduct and thus unsustainable; and that as a result of the foregoing, (5) Defendants' public statements, including Tactile's year-over-year revenue growth, the purported growth drivers, and the effectiveness of Tactile's internal controls over financial reporting were materially false and misleading at all relevant times.

K12 Inc. (NYSE:LRN)

CONTACT JAKUBOWITZ ABOUT LRN:
https://claimyourloss.com/securities/k12inc-loss-submission-form/?id=11150&from=1

Class Period : April 27, 2020 - September 18, 2020

Lead Plaintiff Deadline : January 19, 2021

The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) K12 lacked the technological capabilities, infrastructures, and expertise to support the increased demand for virtual and blended education necessitated by the global pandemic; (ii) K12 lacked adequate cyberattack protocols and protections to prevent the disabling of its computer system; (iii) K12 was unable provide the necessary levels of administrative support and training to teachers, students, and parents; and (iv) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company's business, operations, and prospects and/or lacked a reasonable basis and omitted facts.

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.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887

SOURCE: Jakubowitz Law



View source version on accesswire.com:
https://www.accesswire.com/618036/LAWSUITS-FILED-AGAINST-PT-TCMD-and-LRN--Jakubowitz-Law-Pursues-Shareholders-Claims