NEW YORK, NY / ACCESSWIRE / July 29, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. To determine your eligibility and get free access to our shareholder support tools that provide you with case updates, automated loss calculations and claims recovery assistance, please contact the firm via the links below. There will be no cost or obligation to you.

Community Health Systems, Inc. (NYSE: CYH)

Lawsuit on behalf of: investors who purchased February 20, 2017 – February 27, 2018
Lead Plaintiff Deadline : July 29, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/community-health-systems-inc-loss-form?prid=2644&wire=1

According to the filed complaint, during the class period, Community Health Systems, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company had understated its contractual allowances; (2) the Company had understated its provision for bad debts; (3) as a result, the Company had overstated its net operating revenue; (4) as a result, the Company had understated its net loss; and (5) 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.

Heron Therapeutics, Inc. (NASDAQ: HRTX)

Lawsuit on behalf of: investors who purchased October 31, 2018 – April 30, 2019
Lead Plaintiff Deadline : August 5, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/heron-therapeutics-inc-loss-form?prid=2644&wire=1

According to the filed complaint, during the class period, Heron Therapeutics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Heron had failed to include adequate Chemistry, Manufacturing, and Controls (“CMC”) and non-clinical information in its NDA for HTX-011; (ii) the foregoing increased the likelihood that the FDA would not approve Heron’s NDA for HTX-011; and (iii) as a result, Heron’s public statements were materially false and misleading at all relevant times.

Eros International Plc (NYSE: EROS)

Lawsuit on behalf of: investors who purchased July 28, 2017 – June 5, 2019
Lead Plaintiff Deadline : August 20, 2019
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/eros-international-plc-loss-form?prid=2644&wire=1

According to the filed complaint, during the class period, Eros International Plc made materially false and/or misleading statements and/or failed 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.

You have until the lead plaintiff deadlines to 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.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Fax: (212) 363-7171
www.zlk.com

SOURCE: Levi & Korsinsky, LLP

ReleaseID: 553790

NEW YORK, NY / ACCESSWIRE / July 29, 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. 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. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Zuora, Inc. (NYSE: ZUO)
Class Period: April 12, 2018 – May 30, 2019
Deadline: August 13, 2019
For more info: www.bgandg.com/zuo

The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Zuora would focus on implementing RevPro for new customers ahead of the deadline to comply with accounting standard ASC 606; (2) Zuora lacked adequate resources to integrate RevPro with the core business; (3) Zuora would focus on RevPro integration a year after the acquisition closed; (4) delays in integrating RevPro would materially impact the business; (5) the market for RevPro was limited to customers seeking to implement new accounting standards such as ASC 606; (6) after the deadline for ASC 606 compliance passed, demand for RevPro was reasonably likely to decline; and (7) as a result of the foregoing, defendants’ positive statements about Zuora’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Kingstone Companies, Inc. (NASDAQ: KINS)
Class Period: March 14, 2018 – April 29, 2019
Deadline: August 11, 2019
For more info: www.bgandg.com/kins

The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Kingstone did not adequately follow industry best practices related to claims handling; (2) as a result, the Company did not record sufficient claims reserves; (3) the Company lacked adequate internal control over financial reporting; and (4) defendants’ positive statements about Kingstone’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Pivotal Software, Inc. (NYSE: PVTL)
Class Period: (1) pursuant and/or traceable to the registration statement and prospectus (the “Registration Statement”) issued in connection with Pivotal’s April 2018 initial public offering (the “IPO”); and/or (2) between April 24, 2018 and June 4, 2019
Deadline: August 19, 2019
For more info: www.bgandg.com/pvtl

The complaint alleges that throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Pivotal was facing major problems with its sales execution and a complex technology landscape; (2) the foregoing headwinds resulted in deferred sales, lengthening sales cycles, and diminished growth as its customers and the industry’s sentiment shifted away from Pivotal’s principal products because the Company’s products were outdated, inadequate, and incompatible with the industry-standard platform; and (3) Pivotal’s public statements were materially false and misleading at all relevant times.

Contact:

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

212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC

ReleaseID: 553727

NEW YORK, NY / ACCESSWIRE / July 29, 2019 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against of Box, Inc. (“Box” or the “Company”) (NYSE: BOX) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Box securities from November 28, 2018 through June 3, 2019, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/box.

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 complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Box was unable to close large deals within the quarter; (2) Box’s revenue would be materially impacted; and (3) defendants’ positive statements about Box’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On June 3, 2019, after-market hours, Box lowered its 2020 projections to a range of $688 million to $692 million, from previous estimate of $700 million to $704 million, attributing the drop to longer sales cycles for its larger deals. Following this news, Box stock dropped during intra-day trading on June 4, 2019.

If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/box 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 Box you have until August 5, 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

ReleaseID: 553704

NEW YORK, NY / ACCESSWIRE / July 29, 2019 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Community Health Systems, Inc. (“Community Health” or the “Company”) (NYSE: CYH) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Community Health securities between February 20, 2017 and February 27, 2018, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/cyh.

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 complaint alleges throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Community Health had understated its contractual allowances; (2) Community Health had understated its provision for bad debts; (3) Community Health had overstated its net operating revenue; (4) Community Health had understated its net loss; and (5) as a result of the foregoing, defendants’ positive statements about Community Health’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/cyh 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 Community Health you have until July 29, 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

ReleaseID: 552742

NEW YORK, NY / ACCESSWIRE / July 29, 2019 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against Karyopharm Therapeutics Inc. (“Karyopharm” or “the Company”) (NASDAQ: KPTI) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Karyopharm securities between March 2, 2017 and February 22, 2019, both dates inclusive. Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/kpti.

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 material adverse information. The complaint continues to allege that Karyopharm hyped the commercial prospects for selinexor and consistently described selinexor as having a “predictable and manageable tolerability profile” and a “very nice safety profile,” and assured shareholders that it was “well tolerated” by patients. The complaint also states that Karyopharm declared that selinexor had the potential to be used as a new treatment for MM, with limited and manageable side effects. As a result of these misrepresentations, Karyopharm shares traded at artificially inflated prices during the Class Period.

If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/kpti 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 Karyopharm you have until September 23, 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

ReleaseID: 553748

NEW YORK, NY / ACCESSWIRE / July 29, 2019 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Pyxus International, Inc. f/k/a Alliance One International, Inc. (“Pyxus” or the “Company”) (NYSE: PYX) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Pyxus securities between June 7, 2018 and November 8, 2018, both dates inclusive. Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/pyx.

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) the Company was experiencing longer shipping cycles; (2) as a result, the Company’s financial results would be materially affected; (3) the Company lacked adequate internal control over financial reporting; (4) the Company’s accounting policies were reasonably likely to lead to regulatory scrutiny; and (5) defendants’ positive statements about Pyxus’ business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On November 8, 2018, Pyxus disclosed that its sales declined approximately 12% year-over-year due to the timing of shipments and a larger crop yield in South America. On this news, Pyxus’s stock price fell $7.01 per share, or nearly 28%, to close at $18.26 per share on November 8, 2018. Then, on November 9, 2018, the U.S. Securities and Exchange Commission (“SEC”) announced that Pyxus had settled charges that it had materially misstated its financial statements filed with the SEC from at least 2011 through the second quarter of 2015 due to improper and insufficient accounting, processes, and control activities for inventory, deferred crop costs, and revenue transactions in Africa. On this news, Pyxus’s stock price fell $2.88 per share, or nearly 16%, to close at $15.38 per share on November 9, 2018.

If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/pyx 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 Pyxus you have until August 6, 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

ReleaseID: 553722

NEW YORK, NY / ACCESSWIRE / July 29, 2019 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Beazer Homes USA, Inc. (“Beazer Homes” or the “Company”) (NYSE: BZH) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Beazer securities between August 1, 2014 and May 2, 2019, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/bzh.

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 complaint alleges throughout the Class Period, defendants made false and/or misleading statements regarding the Company’s business, operational and compliance policies. Specifically the complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose the Registration Statement issued in connection with the IPO was materially false and misleading and failed to disclose material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading. The complaint continues to allege that Defendants failed to disclose the following adverse facts, which were known to Defendants or recklessly disregarded by them as follows: (1) Beazer Homes’ California assets classified as land held for future development were deteriorating in value or improperly valuated; (2) the foregoing created a foreseeable risk of an eventual substantial impairment that would negatively impact the profitability of the Company; and (3) as a result, the Company’s public statements were materially false and misleading at all relevant times.

On May 2, 2019, Beazer Homes issued a press release announcing its financial and operating results for the second quarter of 2019. Among other issues, the Company announced a net loss from continuing operations of $100.8 million for the quarter, reflecting a $147.6 million impairment on certain California assets. On this new, Beazer Homes’ stock price fell $1.73 per share, or 12.15%, to close at $12.51 per share on May 3, 2019.

If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/bzh 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 Beazer you have until August 5, 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

ReleaseID: 553700

NEW YORK, NY / ACCESSWIRE / July 29, 2019 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed Netflix, Inc. (“Netflix”or “the Company”) (NASDAQ: NFLX) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Netflix securities between April 17, 2019 through July 17, 2019, both dates inclusive. Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/nflx.

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) Netflix would not be able to gain its expected target number of new subscribers in the second quarter of 2019; (2) Netflix would also lose subscribers from the United States in the second quarter of 2019; and (3) as a result, defendants’ public statements were materially false and misleading at all relevant times.

If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/nflx. 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 Netflix you have until September 20, 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

ReleaseID: 553745

NEW YORK, NY / ACCESSWIRE / July 29, 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. 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. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Ra Medical Systems, Inc. (NYSE: RMED)
Class Period: securities pursuant and/or traceable to the registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with the Company’s September 2018 initial public offering
Deadline: August 9, 2019
For more info: www.bgandg.com/rmed

The lawsuit alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: 1) that the Company’s evaluation of sales personnel candidates was inadequate; (2) that the Company’s training program for sales personnel was inadequate; (3) that, as a result, the Company could not reasonably assure that its newly hired sales personnel were adequately experienced; (4) that, as a result, the Company would suffer a shortage of qualified sales personnel; (5) that the Company’s manufacturing process could not reasonably support increased catheter production; (6) that, as a result, the Company would suffer production delays; and (7) that, 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.

ChinaCache International Holdings Ltd. (NASDAQ: CCIH)
Class Period: April 10, 2015 – May 17, 2019
Deadline: August 12, 2019
For more info: www.bgandg.com/ccih

The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) ChinaCache and Defendant Song Wang, the Company’s former Chief Executive Officer, were engaged in enterprise bribery; (2) the foregoing conduct placed ChinaCache and Wang at a heightened risk of criminal investigation and enforcement action by government authorities, which would foreseeably disrupt the Company’s operations; and (3) defendants’ positive statements about ChinaCache’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Ideanomics Inc. (NYSE: IDEX)
Class Period: May 15, 2017 – November 13, 2018,
Deadline: September 17, 2019
For more info: www.bgandg.com/idex

The complaint 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.

Contact:

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

212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC

ReleaseID: 553742

NEW YORK, NY / ACCESSWIRE / July 29, 2019 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Bloom Energy Corporation (“Bloom” or the “Company”) (NYSE: BE) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Bloom securities pursuant or traceable to the Form S-1 Registration Statement and Prospectus (collectively, the “Registration Statement”) issued in connection with Bloom Energy’s July 2018 initial public stock offering (the “IPO” or “Offering”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/be.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1933.

In July 2018, Bloom commenced the IPO, issuing approximately 18 million shares of its common stock to the investing public at $15.00 per share, all pursuant to the Registration Statement.

The complaint alleges that the Registration Statement was materially misleading as it failed to disclose known events and trends that were severely affecting the Company’s business and that made investment in Bloom significantly riskier than presented in the Registration Statement. Specifically, the complaint alleges that the Registration Statement failed to disclose that the Company was experiencing material construction delays. These construction delays would cause system deployments (or “acceptances” as Defendants referred to them) to fall significantly below even the low end of the Company’s previously announced guidance.

While the Registration Statement purported to warn of risks that “may arise,” which could materially affect the Company, in actuality these material negative events were already occurring. As a result, the representations and purported risk disclosures were allegedly false and misleading because, by the time of the IPO, construction delays had already impacted or would soon impact Bloom’s ability to deliver acceptances in line with its guidance.

On Monday, November 5, 2018, Bloom shocked the market when it announced its disappointing acceptances for the third quarter of fiscal year 2018 results and provided acceptance guidance for the fourth quarter significantly below analysts’ expectations. In particular, the Company reported that it only achieved 206 acceptances, materially below its guidance number of 215 to 235 acceptances. In addition, the Company announced guidance for the fourth quarter of acceptances between 225 and 275. In contrast, analysts at JP Morgan had estimated 333 acceptances in the fourth quarter.

The price of Bloom stock fell precipitously, closing as low as $9.21 per share, almost 40% below the IPO price and remains below the IPO price to this date.

If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/be 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 Bloom you have until July 29, 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

ReleaseID: 552738