NEW YORK, NY / ACCESSWIRE / July 26, 2019 / Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Sunlands Technology Group (“Sunlands” or the “Company”) (NYSE:STG) of the August 26, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Sunlands stock or options pursuant and or traceable to the Company’s March 23, 2018 Initial Public Offering (“IPO”) and would like to discuss your legal rights, click here: www.faruqilaw.com/STG. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all those who purchased Sunlands American Depository Shares (“ADS”) pursuant and or traceable to the Company’s March 23, 2018 IPO. The case, Horowitz v. Sunlands Technology Group et al., No. 19-cv-03744 was filed on June 27, 2019.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Sunlands’ student enrollment was declining; (2) Sunlands’ gross billings were declining; (3) Sunlands’ marketing tactics were not as robust as described in the Registration Statement; and (4) as a result, defendants’ statements about Sunlands’ business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On March 20, 2018, Sunlands filed its final amendment to the Registration Statement, which registered over 13 million Sunlands ADS’s for public sale, or 520,000 Class A Ordinary Shares as each ADS represented one Class A ordinary share. The SEC declared the Registration Statement effective on March 22, 2018. On March 23, 2018, Defendants priced the IPO at $11.50 per ADS and filed the final Prospectus for the IPO on Form 424B4, which forms part of the Registration Statement. Through the IPO, Defendants issued and sold approximately 13 million ADSs, pursuant to the Registration Statement.

As of the filing of the aforementioned complaint, Sunlands’ ADS price traded around $2.28 per share, representing a decline of over 80% from the Company’s IPO price.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Sunlands’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

SOURCE: Faruqi & Faruqi, LLP

ReleaseID: 553541

NEW YORK, NY / ACCESSWIRE / July 26, 2019 / Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in FedEx Corporation (“FDX” or the “Company”) (NYSE:FDX) of the August 26, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in FedEx stock or options between September 19, 2017 and December 18, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/FDX. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased FedEx common stock between September 19, 2017 and December 18, 2018 (the “Class Period”). The case, Rhode Island Laborers’ Pension Fund v. FedEx Corporation et al., No. 19-cv-05990 was filed on June 26, 2019, and has been assigned to Judge Ronnie Abrams.

In July 2016, FedEx significantly expanded its international operations through its $4.8 billion acquisition of TNT Express N.V. (“TNT”), a Netherlands-based logistics company with operations concentrated in Europe. On June 27, 2017, TNT’s operations were crippled by a cyberattack known as NotPetya, which involved the spread of a malware virus throughout TNT’s systems (the “Cyberattack”). TNT’s systems were paralyzed during the critical period involving the integration of TNT with the Company’s legacy European operations.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) TNT’s overall package volume growth was slowing as TNT’s large customers permanently took their business to competitors after the Cyberattack; (2) as a result of the customer attrition, TNT was experiencing an increased shift in product mix from higher-margin parcel services to lower-margin freight services; (3) the anticipated costs and timeframe to integrate and restore the TNT network were significantly larger and longer than disclosed; (4) FedEx was not on track to achieve TNT synergy targets.

After a series of partial disclosures about the business state of TNT, on December 18, 2018, FedEx reported a large profit miss for its second fiscal quarter ended November 30, 2018. FedEx attributed the disappointing results to lower package volumes in Europe and a negative shift in TNT’s product mix to lower margin freight business following the Cyberattack-which had occurred over a year ago. The Company also lowered its fiscal 2019 earnings guidance and announced its main TNT synergy target would no longer be achievable by fiscal year 2020.

After the announcement, FedEx’s share price fell from $185.01 per share on December 18, 2018 to a closing price of $162.51 on December 19, 2018-a $22.49 or a 12.16% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding FedEx’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

SOURCE: Faruqi & Faruqi, LLP

ReleaseID: 553538

NEW YORK, NY / ACCESSWIRE / July 26, 2019 / Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Eros International, Plc (“Eros” or the “Company”) (NYSE: EROS) of the August 20, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Eros stock or options between July 28, 2017 – June 5, 2019 and would like to discuss your legal rights, click here: www.faruqilaw.com/EROS. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased Eros securities between July 28, 2017 and June 5, 2019 (the “Class Period”). The case, Montesano v. Eros International Plc, No. 2:19-cv-14125 was filed on June 21, 2019.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose 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.

On June 5, 2019, CARE Ratings, India’s second largest credit ratings agency, downgraded EIML’s credit rating to “Default” because of “ongoing delays/default in debt servicing due to slowdown in collection from debtors.”

On June 6, 2019, Eros issued a press release admitting that EIML was late on two loan interest payments for April and May 2019.

On this news, Eros stock fell from $7.30 per share on June 5, 2019 to $3.71 per share on June 6, 2019- a $3.59 or 49.17% drop.

The next day, before the market opened, Hindenburg Research published an article entitled “Eros International: On-The-Ground Research, Employee Interviews, and Private Company Documents Expose Egregious Accounting Irregularities,” explaining the reason for the downgrade of EIML. The article stated, among other things, that “a significant portion of Eros’s receivables don’t exist” and that they have documented “multiple undisclosed related-party

transactions that appear designed to hide receivables.”

On this news, Eros stock fell from $3.71 per share on June 5, 2019 to $3.30 per share on June 7, 2019- a $0.41 or 11.05% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Eros’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

SOURCE: Faruqi & Faruqi, LLP

ReleaseID: 553536

NEW YORK, NY / ACCESSWIRE / July 26, 2019 / Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Realogy Holdings Corp. (“Realogy” or the “Company”) (NYSE: RLGY) of the September 9, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Realogy stock or options between February 24, 2017 and May 22, 2019 and would like to discuss your legal rights, click here: www.faruqilaw.com/RLGY. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017

Attn: Richard Gonnello, Esq.

rgonnello@faruqilaw.com

Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the District Court of New Jersey on behalf of all those who [purchased Realogy securities between February 24, 2017 and May 22, 2019 (the “Class Period”). The case, Tanaskovic v. Realogy Holdings Corp., No. 2:19-cv-15053 was filed on July 11, 2019, and has been assigned to Judge Stanley R. Chesler.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Realogy was engaged in anticompetitive behavior by requiring property sellers to pay the commissions of a buyer’s broker at an inflated rate; (2) Realogy’s anticompetitive actions would prompt the U.S. Department of Justice (“DOJ”) to open an antitrust investigation into the real estate industry’s practices regarding brokers’ commissions; and (3) as a result, Defendants’ statements about the Realogy’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On March 11, 2019, the article “A new class action lawsuit could upend the real estate business as we know it” was published on The Real Deal. The article revealed that a lawsuit was filed against several realtors, including Realogy, which alleged that Realogy and others were violating antitrust laws. The article stated in relevant part:

On this news, Realogy’s share price fell from $12.28 on March 11, 2019 to $12.07 on March 12, 2019- a $0.21 or a 1.71% drop.

On April 18, 2019, Housingwire reported in the article “NAR slapped with second class-action lawsuit to end buyer broker compensation” which stated in relevant part: [Realogy violated federal antitrust laws by requiring property sellers to pay the buyer’s broker an inflated fee.]

On this news, Realogy’s share price fell from $12.89 on April 18, 2019 to $12.32 on April 22, 2019- a $0.57 or a 4.42% drop.

On May 22, 2019, media reports revealed that the DOJ opened an investigation regarding antitrust practices of the real estate industry, which included Realogy. That day, Bloomberg published the article, “U.S. Opens Antitrust Probe of Real Estate Brokerage Industry” which discussed the investigation, stating in relevant part:

On this news, Realogy’s share price fell from $7.84 on May 21, 2019 to $7.13 on May 23, 2019- a $0.71 or a 9.05% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Realogy’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

SOURCE: Faruqi & Faruqi, LLP

ReleaseID: 553535

NEW YORK, NY / ACCESSWIRE / July 26, 2019 / Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Reckitt Benckiser Group plc (“Reckitt” or the “Company”)(OTC:RBGLY).

If you invested in Reckitt stock or options and would like to discuss your legal rights, click here: www.faruqilaw.com/RBGLY. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

SOURCE: Faruqi & Faruqi, LLP

ReleaseID: 553534

NEW YORK, NY / ACCESSWIRE / July 26, 2019 / Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Verb Technology Company, Inc. (“Verb” or the “Company”)(NASDAQ:VERB) of the September 9, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Verb stock or options between January 3, 2018 and May 2, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/VERB. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased Verb common stock between January 3, 2018 and May 2, 2018 (the “Class Period”). The case, Hartmann v. Verb Technology Company, Inc. et al., No. 19-cv-05896 was filed on July 9, 2019 and has been assigned to the Honorable George H. Wu.

On January 3, 2018, the Company announced a purported agreement with Oracle America, Inc. (herein, the “Oracle Agreement”) which received widespread attention to jointly develop Verb’s product. The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose the true scope of the Oracle Agreement as the Company did not have a contract with Oracle to jointly develop and market the Company’s product and that as a result of the foregoing, the Company’s public statements were materially false and misleading at all relevant times.

Following the rapid rise of the Company’s stock price due to the Oracle Agreement announcement, on April 23, 2018, the truth as to the Company’s relationship with Oracle began to emerge. The text of the Oracle Agreement revealed that there was no joint agreement for Oracle to use its substantial salesforce to market the Company’s product as previously touted by the Company and its CEO. Similarly, the text of the Oracle Agreement revealed that there was no joint development of the Company’s product, notifiCRM. Moreover, the text of the Oracle Agreement revealed the true nature of the relationship between Oracle and the Company: the Company had simply been provided with an application developer toolkit for its program to interface with Oracle NetSuite.

The Company and CEO Rory Cutaia had exceedingly overstated this relationship and omitted from all prior communications about the Oracle Agreement that the Company had to pay a fee to Oracle in order to participate in the partnership program and access nothing more than an application developer toolkit. The Oracle Agreement revealed that the Company had made misleading statements pertaining to Oracle’s acts upon completion of the product, despite such statements having been explicitly prohibited by the Oracle Agreement.

On April 30, 2018, Cutaia issued a video to Company shareholders assuring investors that a joint press release would be coming from Oracle “within days” though there were a number of complicating factors. No joint press release was ever issued and the market increasingly questioned the relationship between the two companies.

On this news, Verb’s share price fell from $2.70 per share on April 19, 2018 to a closing price of $1.54 on April 30, 2018: a $1.16 or a 42.96% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Verb’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

SOURCE: Faruqi & Faruqi, LLP

ReleaseID: 553533

NEW YORK, NY / ACCESSWIRE / July 26, 2019 / Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Diebold Nixdorf, Incorporated (“Diebold” or the “Company”)(NYSE:DBD).

If you invested in Diebold stock or options and would like to discuss your legal rights, click here: www.faruqilaw.com/DBD. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

SOURCE: Faruqi & Faruqi, LLP

ReleaseID: 553532

NEW YORK, NY / ACCESSWIRE / July 26, 2019 / Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Heron Therapeutics, Inc. (“Heron”) or the (“Company”) (NASDAQ:HRTX) of the August 5, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Heron stock or options between October 31, 2018 and April 30, 2019 and would like to discuss your legal rights, click here: www.faruqilaw.com/HRTX. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the Southern District of California on behalf of all those who purchased Heron securities between October 31, 2018 and April 30, 2019 (the “Class Period”). The case, Wong v. Heron Therapeutics, Inc. et al., No. 3:19-cv-01038 was filed on June 3, 2019, and has been assigned to Judge Larry Alan Burns.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Heron had failed to include adequate Chemistry, Manufacturing, and Controls (“CMC”) and non-clinical information in its NDA for HTX-011; and (2) the foregoing increased the likelihood that the FDA would not approve Heron’s NDA for HTX-011.

On May 1, 2019, Heron announced receipt of a Complete Response Letter (“CRL”) from the FDA on April 30, 2019, regarding Heron’s NDA for HTX-011 for the management of postoperative pain (the “May 2019 Press Release”). In the May 2019 Press Release, Heron advised investors that “[t]he CRL stated that the FDA is unable to approve the NDA in its present form based on the need for additional CMC and non-clinical information.”

On this news, the Company’s stock price fell from $21.68 per share on April 30, 2019 to $17.75 per share on May 1, 2019: a $3.93 or 18.13% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Heron’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

SOURCE: Faruqi & Faruqi, LLP

ReleaseID: 553531

NEW YORK, NY / ACCESSWIRE / July 26, 2019 / Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Acer Therapeutics Inc. (“Acer” or the “Company”) (NASDAQ: ACER) of the August 30, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Acer stock or options between September 25, 2017 and June 24, 2019 and would like to discuss your legal rights, click here: www.faruqilaw.com/ACER. There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Acer securities between September 25, 2017 and June 24, 2019 (the “Class Period”). The case, Sell v. Acer Therapeutics Inc. et al., No. 19-cv-06137 was filed on July 1, 2019.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Acer lacked sufficient data to support filing EDSIVO’s Non-Drug Application (“NDA”) with the Food and Drug Administration (“FDA”) for the treatment of vascular Ehlers-Danlos syndrome (“vEDS”); (2) the Ong Trial was an inadequate and ill-controlled clinical study by FDA standards, and was comprised of an insufficiently small group size to support EDSIVO’s NDA; (3) consequently, the FDA would likely reject EDSIVO’s NDA; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On June 25, 2019, Acer issued a press release disclosing that the FDA had rejected the Company’s NDA for EDSIVO. That same day, Reuters published an article titled “FDA declines to approve Acer Therapeutics’ rare genetic disorder treatment.” In discussing the FDA’s rejection of the Company’s FDA, the Reuters article noted, among other things, how “[t]he small group size” of the Ong Trial had “raised questions among experts about the adequacy of the trial results.”

On this news, Acer’s stock price fell from $19.28 per share on June 24, 2019 to $4.12 per share on June 25, 2019-a $15.16 or 78.63% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Acer’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

SOURCE: Faruqi & Faruqi, LLP

ReleaseID: 553530

NEW YORK, NY / ACCESSWIRE / July 26, 2019 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Ideanomics Inc. f/k/a Seven Stars Cloud Group, Inc. f/k/a Wecast Network Inc.(“Ideanomics”or “the Company”) (NYSE: IDEX) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Ideanomics securities between May 15, 2017 and November 13, 2018, both dates inclusive. Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/idex.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The lawsuit alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) costs associated with building out Ideanomics’ U.S. infrastructure and hiring its new executive team were negatively impacting the Company’s bottom line performance; (2) as a result, Ideanomics was highly unlikely to meet its 2018 EBITDA guidance; (3) Ideanomics’ margins in its oil trading and consumer electronics businesses were too low for those businesses to remain viable; and (4) as a result, Ideanomics’ public statements were materially false and misleading at all relevant times.

On November 14, 2018, the Company issued a press release, filed as an exhibit to a Current Report on Form 8-K with the SEC, announcing the Company’s financial and operating results for the third quarter of 2018 (the “Q3 2018 Press Release”). In the Q3 2018 Press Release, Ideanomics reported that “we intend to phase out our oil trading and consumer electronics businesses, with the intention to fully divest these assets in the near future,” citing “low margins in relation to top line sales.” Ideanomics further reported that “[c]osts associated with building out our U.S. infrastructure and hiring our new executive team have put a strain on our bottom line performance, resulting in our increased net loss for the third quarter of 2018 as compared to the third quarter of 2017,” and that accordingly, “we do not anticipate meeting our EBITDA guidance of $35 million for fiscal year 2018.” Following this news, Ideanomics’ stock price fell $1.59 per share, or 48.77%, to close at $1.67 on November 14, 2018, damaging investors.

If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/idex. 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 in Ideanomics you have until September 17, 2019 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz

212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC

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