Sogou Inc. (SOGO), Danske Bank A/S (DNKEY) & AxoGen, Inc. (AXGN) - Bronstein, Gewirtz & Grossman, LLC Class Action Update

NEW YORK, NY / ACCESSWIRE / February 20, 2019 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Sogou Inc. (SOGO)

Class Period: Sogou American Depository Shares (''ADS's'') purchased pursuant and/or traceable to its initial public offering on November 9, 2017
Lead Plaintiff Deadline: March 11, 2019
For more info: www.bgandg.com/sogo

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statementsand/or failed to disclose that: (1) Chinese regulators were analyzing Sogou for regulatory action because of an increase Sogou merchants' sales of counterfeit goods; (2) Chinese regulators were analyzing Sogou for regulatory action because Sogou's existing software, advertising procedures, personnel, and audit procedures were insufficient to safeguard against compliance violations with governing Chinese regulations, and would need to be updated, enhanced, and strengthened, thus resulting in increased expenses; (3) Sogou's cost of revenues were skyrocketing primarily because of significant increases in Traffic Acquisition Cost, which is a primary driver of Sogou's cost of revenues, as Sogou was dealing with significant price inflation from increased competition; (4) Sogou was going to alter its strategy concerning smart hardware and push the Company's AI capabilities to increase product competitiveness; (5) as a result of altering its smart hardware strategy, Sogou had already decided to phase out non-AI-enabled hardware products, such as legacy models of Teemo Smart Watch, and transition to use products integrating AI technologies, which Sogou hoped would reduce its hardware revenues in the second half of 2018; and (6) as a result of the foregoing, Sogou's public statements were materially false and misleading at all relevant times.

Danske Bank A/S (DNKEY)

Class Period: January 9, 2014 - October 23, 2018
Lead Plaintiff Deadline: March 11, 2019
For more info: www.bgandg.com/dnkey

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that: (1) Danske Bank's Estonian branch was facilitating money laundering through at least March 2016; (2) that a whistleblower had reported the Estonian money laundering to the Company in 2013; (3) that Denmark's Financial Supervisory Authority (the ''DFSA'') had been investigating the Estonian money laundering since 2014; (4) that Danske Bank had concealed the results of its own internal investigation from the DFSA, further exposing it to regulatory action and fines; (5) that Danske Bank had been overstating its historical profits by including the profits derived from its illicit Estonian operations; and (6) that Danske Bank lacked effective internal and reporting controls.

AxoGen, Inc. (AXGN)

Class Period: securities pursuant and/or traceable to (1) the Company's registration statement and prospectus (collectively, the ''November 2017 Registration Statement'') issued in connection with its November 2017 secondary public offering (''November SPO''); and/or (2) the Company's registration statement and prospectus (collectively, the ''May 2018 Registration Statement'') issued in connection with the Company's May 2018 secondary public offering (''May SPO''); and/or (3) between August 7, 2017 and December 18, 2018, inclusive (the ''Class Period'').

Lead Plaintiff Deadline: March 11, 2019
For more info: www.bgandg.com/axgn

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statementsand/or failed to disclose that: (1) AxoGen aggressively increased prices to mask lower sales; (2) AxoGen's pricing alienated customers and threatened the Company's future growth; (3) ambulatory surgery centers form a significant part of the market for the Company's products; (4) such centers were especially sensitive to price increases; (5) the Company was dependent on a small number of surgeons whom the Company paid to generate sales; (6) AxoGen's consignment model for inventory was reasonably likely to lead to channel stuffing; (7) the Company offered purchase incentives to sales representatives to encourage channel stuffing; (8) the Company's sales representatives were encouraged to backdate revenue to artificially inflate metrics; (9) the Company lacked adequate internal controls to prevent such channel stuffing and backdating of revenue; (10) the Company's key operating metrics, such as number of active accounts, were overstated; and (11) consequently, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC

View source version on accesswire.com:
https://www.accesswire.com/535651/Sogou-Inc-SOGO-Danske-Bank-AS-DNKEY-AxoGen-Inc-AXGN--Bronstein-Gewirtz-Grossman-LLC-Class-Action-Update