NEW YORK, NY / ACCESSWIRE / July 29, 2019 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. There will be no obligation or cost to you.
A. O. Smith Corporation (AOS)
If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/a-o-smith-corporation-loss-submission-form?prid=2663&wire=1
Lead Plaintiff Deadline: July 29, 2019
Class Period: July 26, 2016 to May 16, 2019
Allegations against AOS include that: (a) A.O. Smith had undisclosed business connections and entanglements with UTP through which it funneled up to 75% of its China product sales; (b) A.O. Smith had used UTP to engage in channel stuffing by artificially inflating inventories purportedly sold through distributors that were not based on consumer demand, thereby approximately doubling the normal level of inventory at such distributors; (c) A.O. Smith had used its UTP relationship to artificially inflate the sales figures it reported to investors by as much as 8% and to conceal worsening sales trends that the Company was experiencing in China; (d) A.O. Smith’s sales growth had been primarily in lower margin products as its higher priced products were being undercut by competition in “second-tier” Chinese cities, causing the Company to experience significant margin pressures; (e) A.O. Smith had increased its cash reserves in China to over $530 million in furtherance of its channel stuffing and sales manipulation scheme, encumbering the Company’s ability to repatriate the cash or use it for capital expenditures; and (f) as a result of (a)-(e) above, A.O. Smith’s business, operations, and prospects were significantly worse than publicly represented and the Company was poised for sales and earnings declines in China, its most important international market.
Mammoth Energy Services, Inc. (TUSK)
If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/mammoth-energy-services-inc-loss-submission-form?prid=2663&wire=1
Lead Plaintiff Deadline: August 9, 2019
Class Period: October 19, 2017 to June 5, 2019
Allegations against TUSK include that: (1) Mammoth’s subsidiary, Cobra, improperly obtained two infrastructure contracts with PREPA that totaled over $1.8 billion; (2) specifically, the contracts were awarded as the result of improper steering and not a competitive RFP process; and (3) as a result, Defendants’ statements about Mammoth’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Eros International Plc (EROS)
If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/eros-international-plc-loss-submission-form?prid=2663&wire=1
Lead Plaintiff Deadline: August 20, 2019
Class Period: July 28, 2017 to June 5, 2019
Allegations against EROS include that: (1) Eros and its executives engaged in a scheme to use related-party
transactions to fabricate receivables that they reported in Eros’s public financial disclosures; (2) because of this scheme, Eros’s financial position was weaker than what the Company disclosed; (3) consequently, the Company’s Indian subsidiary, Eros International Media Ltd (“EIML”), missed loan payments and had its credit
downgraded; and (4) due to the foregoing, Defendants’ statements about Eros’s receivables, business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
To learn more contact Vincent Wong, Esq. either via email firstname.lastname@example.org or by telephone at 212.425.1140.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
Vincent Wong, Esq.
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New York, NY 10002
SOURCE: The Law Offices of Vincent Wong
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