NEW YORK, NY / ACCESSWIRE / December 27, 2019 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
Sealed Air Corporation (NYSE:SEE)
Class Period: November 5, 2014 to August 6, 2018
Lead Plaintiff Deadline: December 31, 2019
The complaint alleges that during the class period Sealed Air Corporation made materially false and/or misleading statements and/or failed to disclose that: (a) Sealed Air had hired its auditor, E&Y, pursuant to a conflicted and improper process and in order to help facilitate defendants' efforts to engage in accounting fraud; (b) Sealed Air's deduction of $1.49 billion in connection with the Settlement was indefensible and done for the improper purpose of artificially inflating the Company's financial results; (c) Sealed Air had artificially inflated its earnings, cash flows, and operating income during the Class Period; (d) as a result of the above, Sealed Air's Class Period financial statements were materially false and misleading and not prepared in conformance with GAAP; and (e) as a result of the above, Sealed Air's statements regarding its financial results, business, and prospects were materially misleading.
Learn about your recoverable losses in SEE: http://www.kleinstocklaw.com/pslra-1/sealed-air-corporation-loss-submission-form?id=5073&from=1
Yunji Inc. (NASDAQ:YJ)
Class Period: on behalf of shareholders who purchased or otherwise acquired Yunji American Depositary Shares pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company's May 2019 initial public offering.
Lead Plaintiff Deadline: January 13, 2020
During the class period, Yunji Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was shifting certain of its sales to its marketplace platform; (2) this supply chain restructuring was likely to disrupt Yunji's relationships with suppliers; (3) this supply chain restructuring was likely to have an adverse impact on the Company's financial results; and (4) 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.
Learn about your recoverable losses in YJ: http://www.kleinstocklaw.com/pslra-1/yunji-inc-loss-submission-form?id=5073&from=1
X Financial (NYSE:XYF)
Class Period: X Financial American Depositary Shares pursuant and/or traceable to the Company's September 19, 2018 initial public offering.
Lead Plaintiff Deadline: February 7, 2020
The XYF lawsuit alleges that X Financial made materially false and/or misleading statements and/or failed to disclose 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.
Learn about your recoverable losses in XYF: http://www.kleinstocklaw.com/pslra-1/x-financial-loss-submission-form?id=5073&from=1
Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com
SOURCE: The Klein Law Firm
ReleaseID: 571480
