NEW YORK / ACCESSWIRE / January 23, 2020 / 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.
Merit Medical Systems, Inc. (MMSI)
If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/merit-medical-systems-inc-loss-submission-form?prid=5341&wire=1
Lead Plaintiff Deadline: February 3, 2020
Class Period: February 26, 2019 to October 30, 2019
Allegations against MMSI include that: (a) the integrations of acquired companies Cianna Medical, Inc. and Vascular Insights, LLC, including their products, sales people, and R&D facilities, had caused operational disruptions and reduced sales and were months behind schedule; (b) sales of acquired company products had slowed substantially due to pre-acquisition pipeline fill, in particular for Vascular Insights products which, as late as July 2019, had zero orders during FY19; and (c) in light of the foregoing, the Company's reported financial guidance for FY19 and FY20 was made without a reasonable basis.
Prudential Financial, Inc. (PRU)
If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/prudential-financial-inc-loss-submission-form?prid=5341&wire=1
Lead Plaintiff Deadline: January 27, 2020
Class Period: February 15, 2019 to August 2, 2019
Allegations against PRU include that: (a) the Company's reserve assumptions failed to account for adversely developing mortality experience in the Individual Life business segment; (b) the Company was not over-reserved, but instead, its reported reserves, particularly for the Individual Life business segment, were insufficient to satisfy its future policy benefits liabilities; and (c) the Company had materially understated its liabilities and overstated net income as a result of flawed assumptions in calculating mortality experience.
X Financial (XYF)
If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/x-financial-loss-submission-form?prid=5341&wire=1
Lead Plaintiff Deadline: February 7, 2020
Class Period: X Financial American Depositary Shares pursuant and/or traceable to the Company's September 19, 2018 initial public offering.
Allegations against XYF include that: (i) the Company's total loan facilitation amount was not growing, but rather was contracting; (ii) the number of investors actively using X Financial's platform was shrinking; (iii) demand from small- and medium-sized enterprises for the Company's preferred loans was plummeting; (iv) the Company's preferred loans had performed so poorly that it had begun drastically scaling back its preferred loans in the first quarter of 2018, several months before the initial public offering ("IPO"), and was in the process of phasing out such loans completely; (v) demand for the Company's card loans was also plummeting; (vi) the revenue and loan facilitation growth provided in the registration statement leading up to the IPO was achieved by relaxed credit and due diligence standards, under which the Company had underwritten tens of millions of dollars' worth of poor quality loans that suffered from a disproportionately high risk of default as compared to the Company's earlier loan vintages; (vii) the Company was suffering from accelerated delinquency rates from poor quality loans that it had underwritten in the first, second, and third quarters of 2018, which had caused the Company's delinquency rate to sharply rise; (viii) the Company's product mix had significantly deteriorated; (ix) the Company's net revenue was on track to decline by 22% during the third quarter of 2018; and (x) as a result, the Registration Statement was materially false and/or misleading and failed to state information required to be stated therein.
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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