Monthly Archives: February 2020

SHAREHOLDER ALERT: OPRA BYND LK: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines

NEW YORK, NY / ACCESSWIRE / February 20, 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.

Opera Limited (NASDAQ:OPRA)

If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/opera-limited-loss-submission-form?prid=5500&wire=1
Lead Plaintiff Deadline: March 24, 2020
Class Period: (a) Opera American depositary shares pursuant and/or traceable to the Company's initial public offering commenced on or about July 27, 2018 and/or (b) Opera securities between July 27, 2018 and January 15, 2020,

Allegations against OPRA include that: (i) Opera's sustainable growth and market opportunity for its browser applications was significantly overstated; (ii) Defendants' funded, owned, or otherwise controlled loan services applications and/or businesses relied on predatory lending practices; (iii) all the foregoing, once revealed, were reasonably likely to have a material negative impact on Opera's financial prospects, especially with respect to its lending applications' continued availability on the Google Play Store; and (iv) as a result, the Offering Documents and Defendants' statements were materially false and/or misleading and failed to state information required to be stated therein.

Beyond Meat, Inc. (NASDAQ:BYND)

If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/beyond-meat-inc-loss-submission-form?prid=5500&wire=1
Lead Plaintiff Deadline: March 30, 2020
Class Period: May 2, 2019 to January 27, 2020

Allegations against BYND include that: (i) Beyond Meat's termination of its supply agreement with Don Lee constituted a breach of that agreement, thus exposing the Company to foreseeable legal liability and reputational harm; (ii) Beyond Meat and certain of its employees had doctored and omitted material information from a food safety consultant's report, which the Company represented as accurate to Don Lee; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

Luckin Coffee Inc. (NASDAQ:LK)

If you suffered a loss, contact us at: http://www.wongesq.com/pslra-1/luckin-coffee-inc-loss-submission-form?prid=5500&wire=1
Lead Plaintiff Deadline: April 13, 2020
Class Period: November 13, 2019 to January 31, 2020

Allegations against LK include that: (i) certain of Luckin's financial performance metrics, including per-store per-day sales, net selling price per item, advertising expenses, and revenue contribution from "other products" were inflated; (ii) Luckin's financial results thus overstated the Company's financial health and were consequently unreliable; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

To learn more contact Vincent Wong, Esq. either via email vw@wongesq.com 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.

CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
Fax. 866.699.3880
E-Mail: vw@wongesq.com

SOURCE: The Law Offices of Vincent Wong

ReleaseID: 577297

SHAREHOLDER ALERT: The Schall Law Firm Announces it is Investigating Claims Against ProAssurance Corporation and Encourages Investors with Losses to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / February 20, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of ProAssurance Corporation ("ProAssurance" or "the Company") (NYSE:PRA) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. ProAssurance disclosed on January 22, 2020, that it would take a $37 million charge to loss reserves for the fourth quarter of 2019 based on "deteriorating loss experience, driven by a large national healthcare account." Based on this news, shares of ProAssurance fell by more than 11% the next day.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
Cell: 424-303-1964
info@schallfirm.com

SOURCE: The Schall Law Firm

ReleaseID: 577291

INVESTOR ACTION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Luckin Coffee Inc. and Encourages Investors with Losses In Excess of $100,000 to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / February 20, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Luckin Coffee Inc. ("Luckin Coffee" or "the Company") (NASDAQ:LK) for violations of the securities laws.

The investigation focuses on whether Luckin Coffee issued false and/or misleading statements and/or failed to disclose information pertinent to investors.

If you are a shareholder who suffered a loss, click here to participate.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
Cell: 424-303-1964
info@schallfirm.com
www.schallfirm.com

SOURCE: The Schall Law Firm

ReleaseID: 577288

Burn The Ships addresses the unique needs of entrepreneurs in all stages of their businesses

NEW YORK, NY / ACCESSWIRE / February 20, 2020 / As an entrepreneur, you know that creating and operating a business is a difficult yet worthwhile challenge to undertake, whichever stage in the business you're in. For younger entrepreneurs, the challenge is in recognizing and maximizing the potential within themselves and their businesses. After the initial stages, the challenge shifts to generating excess profits and establishing a culture that fosters development. The end goal of running a business, of course, is to provide the owner with a diversity of life options. Success at this stage can take on many forms: a sense of fulfillment, freedom to spend time and money however you want, and happiness. A big liquidity event or exit is an especially sweet sign of winning in business.

These three phases – Grow, Profit, Win – are the three focus areas of Burn The Ships. By outlining the step by step processes of how 9-figure companies are built, Burn The Ships expands on each of these phases and provides entrepreneurs with a proven roadmap to success. Those who have coupled their grit with this roadmap quickly created long-lasting company cultures and scaled their revenue, profits, and business value.

Burn The Ships offers three high-impact business scale programs to help entrepreneurs everywhere Grow, Profit, and Win in business. The specially designed programs address the unique and specific needs of business owners in various stages of their businesses. The three programs are a weekly live mentorship program, a unique online university curriculum that uses user-friendly videos, and business bootcamps that allow entrepreneurs a deep dive experience into the business roadmap. At Burn The Ships, there really is something for everyone.

The geniuses behind this crystal clear roadmap are Judge Graham and Matt Manero. The two founders understand that businesses can and do start and fail at an alarming rate. Along with their families, they have personally experienced the pain of having to fight through the daily grind. Their experiences have caused them to change and discover for themselves the lessons that the schools don't teach. Having started from the bottom, Judge and Matt have created, operated, and exited 9-figure businesses. Through Burn The Ships, they have made it their mission to show other business owners how to do the same.

The results of following the Burn The Ships roadmap speak for themselves. Industry titans have recognized the real results that real people have enjoyed through the inspiring and actionable guidance from Judge and Matt. Only at Burn The Ships is the language of business taught in an honest, passionate, and proven manner.

Forget about fake business gurus on social media who know nothing about making money by building businesses. Burn The Ships can help you fall back in love with your business, regain your life, and achieve financial freedom. For media inquiries please email Dillon at join@authoritytitans.com

SOURCE: Burn The Ships

ReleaseID: 577285

Bill Lerner Explains the ‘Customer First’ in the Parking Industry

Lerner is the president and CEO of New York’s largest privately-owned parking garage enterprise, iPark.

New York, NY – February 20, 2020 /MarketersMedia/ —

Nowadays consumers are better informed and their standards are higher than ever. Any company wanting to survive and thrive has to be able to provide a great customer service. Bill Lerner is the president and CEO of New York’s largest privately-owned parking garage enterprise, iPark. He strongly believes in and maintains the maxim of ‘going the extra mile’ for clients whether through attentive front-line staff or with the implementation of technological trends designed to improve and facilitate transactions. This focus on high-level, responsive service channels has enabled his company to sustain impressive growth from a single 25-car lot in 1960 to a footprint of close to 150 facilities today.

An insightful article produced by CRM software firm Kayako identifies two key, consistent aspects of customer service, which are that the consumer wants ‘effortless interactions’ and ‘more personable experiences’. Trends in clientele management can arguably be traced back 150,000 years when systems of trade and barter were established during humankind’s prehistory and historians note the first documented customer complaint in the form of a clay tablet dating to 1500BC which details a purchaser’s grievance to a seller regarding a delayed and damaged shipment of copper ore. Following the invention of the telephone in 1876 and the establishment of the first call centres in the 1960s (structured as Private Automated Business Exchanges and enhanced by the introduction of toll-free 1-800 numbers), business-client relationships are now defined by technologically-advanced multichannel communication streams – a far cry from clay-engraved, foot-delivered complaints.

In a candid discussion with industry publication ParkingExec Bill Lerner describes iPark’s patrons as a ‘lifeline’ and despite being an admittedly ‘rudimentary’ business they are dedicated to a consumer-centric and forward-thinking operational model. Always an innovator, he has adapted current technology trends to better serve users with the incorporation of electric-vehicle charging stations into many of his facilities and a streamlined online booking system, complete with a live, digital assistant chat module—a pioneering step amongst major parking operators. A Forbes.com article (‘Ten Customer Service and Customer Experience Trends for 2017’) echoes the importance of such a move, emphasizing the productivity of AI and Chatbots and the value of providing proactive, personalised and convenient service. Well-aware of the multifaceted approach to service delivery, Lerner cultivates low staff turnover rates to ensure his workforce is well-trained and familiar to clients.

When he’s not busy applying his 40+ years of entrepreneurial acumen to the continued success of the business his father founded, Bill Lerner is a dedicated family-man (husband and father of three) and philanthropist. His non-profit Billy4Kids, founded in 2013 with a mandate to preventing soil-transmitted parasitic infections, has provided thousands of shoes to children in impoverished countries in order to shield them from debilitating illness, earning Lerner a Humanitarian award at the Annual Edyeyo Gives Hope Gala. He regularly contributes to media sources such as 33Voices, Radio America, Leaders Magazine and The Atlantic, and actively shares key insights via his website BillLernernews.com and social media accounts (Twitter: https://twitter.com/billy_lerner and Facebook: https://www.facebook.com/billylernerofficial/).

Bill Lerner – President and CEO of iPark: http://billlernernews.com

Billy Lerner (@billy_lerner) – Twitter: https://twitter.com/billy_lerner

Billy Lerner – Home – Facebook: https://www.facebook.com/billylernerofficial/

Contact Info:
Name: BLN
Email: Send Email
Organization: BillLernerNews.com
Website: http://billlernernews.com

Source URL: https://marketersmedia.com/bill-lerner-explains-the-customer-first-in-the-parking-industry/88947434

Source: MarketersMedia

Release ID: 88947434

Top Luxury Naples Realtor John Paul Prebish Announces a Remarkable Home in Coveted Conners on Vanderbilt Beach

William Raveis Real Estate Agent, John Paul Prebish, lists a picturesque waterfront residence with dock.

Naples, Florida – February 20, 2020 —

John Paul Prebish, top luxury Naples agent, lists a stunning waterfront residence offered for $2.895 Million. It’s the picture-perfect lifestyle – imagine you’ve just spent a leisurely Saturday soaking up the perpetual Floridian sunshine, reclining on the powdery white sands of nearby Vanderbilt Beach, or just returned from a fishing expedition and are mooring the cruiser at your very own dock. Whether a beach or boating enthusiast, be assured of one thing with this property – every day will feel like perfection with this charming Gulf access, Conners residence.

More information on 175 Bayview Avenue can be found at:
https://jprebish.com/listings/175-bayview-ave

A waterfront residence of uncompromising quality, experience this first-hand with ascent of the Y-shaped external staircase. Indoors, be greeted with immaculate interiors, including a great room which is set beneath a soaring vaulted ceiling. Lined with expanses of oversized windows, natural light spills effortlessly into this room which offers a rare volume of space and versatile living. A fireplace also draws attention to the lofty ceiling height and adds another element of ambience, while beyond, a dining room is sheathed in sunshine.

From the kitchen, be mesmerized by the water vistas and the Palms which sway gently in the breeze. Fusing black granite with warm timber tones, there is also a quaint eat-in area which is ideal for cozy or casual dinners.

Another living area delivers even more space for unwinding with family and friends, which leads on to one of two open air terraces. Enjoy the warm glow of dusk settle on the picturesque waterfront surrounds, or retreat to the lower level where a spa nestles seamlessly with the easy-care gardens. Grab a cool beverage from the custom built-in bar indoors and sit waterside, soaking up the beauty of the surrounds. Or, if the next fishing trip or sailing adventure beckons, a boat house, with fish cleaning station and dock, is on hand to make this a reality.

The three spacious bedrooms are elegant sanctuaries and include a master suite which boasts a lush, leafy outlook and an adjoining en-suite which is equally as generous in size. The remaining full and half bath echo these interiors, while the home office has been designed as the perfect study or den.

The final hidden gem of the home has to be the non-conforming lower level that allows it to live so much larger than the 3,251 square footage this home indicates. It’s a light, bright blank canvas which is eager for you to make a mark.

Fitted with hardwood flooring, plantation shutters, and located mere moments from Vanderbilt Beach off Gulf Shore Drive, the residence is close to local hotels, restaurants, and shopping. Need even more evidence this is an address to impress? The famed LaPlaya Beach and Golf Resort is one minute by car, the Ritz Carlton is just five minutes from your front door, while the upscale Mercato shopping and dining pavilion is approximately eight minutes away.

It’s an exclusive chance to live in an esteemed enclave and it’s an opportunity not to be missed!

About John Paul Prebish:
In 40 years of William Raveis Real Estate no individual sales associate produced more, in terms of volume sold, in a single year than John Paul. He is known for his unparalleled real estate marketing expertise, his masterful negotiating abilities, and for his excellent professionalism providing top customer service. John Paul is the exclusive ‘News Partner Realtor’ for the Naples real estate market, which uniquely differentiates himself as a leader in utilizing his proprietary cutting edge marketing strategy of using his media connections to get his client’s homes featured on high-authority channels like Yahoo Finance, Reuters, Bloomberg, FOX, ABC, NBC, and more. John Paul is constantly on the forefront of implementing progressive tactics to get his listings mass exposure through this distinctive complementary blend of press-marketing, search engine optimization, and technology. Specializing in luxury real estate, he is dedicated to helping his valued clients achieve their goals while consistently delivering best results, exceeding client expectations, and offering a highly personalized service that is unmatched. To find out more about the opportunity to own the most luxurious homes in Naples, please visit: https://jprebish.com

Contact Info:
Name: John Paul Prebish
Email: Send Email
Organization: John Paul Prebish, PA
Address: 1400 3rd St S, Naples, FL 34102
Phone: 239-449-0254
Website: https://jprebish.com/

Release ID: 88947439

Savvy Selection Releases Laundry Hamper Aimed at Saving Time, Money, Energy

Savvy Selection, LLC, located in San Jose, CA, has launched a new laundry hamper that is built to fill the niche between great quality and affordability. Features include a detachable bag for delicate items, magnetic lid, polypropylene structure, removable liner, collapsible, lightweight, and attractive.

San Jose, United States – February 20, 2020 /MarketersMedia/ —

Savvy Selection, LLC (“Savvy Selection”), creators of fundamental products for the home, has launched a new laundry hamper with the intention of improving efficiency for families that want to make the most of their time and resources. With innovations such as a conveniently attachable machine washable mesh bag just for washing delicate garments, a lightweight structure, and removable liner, families can reduce the amount of time and hassle they spend on laundry every week.

Savvy Selection co-Founders, Joanne and Gary Merrick, were looking for a new hamper for themselves, but found that many on the market lacked the attractiveness and functionality they were looking for. “A bag for delicate items was missing, available laundry baskets didn’t look very nice and products lacked sufficient quality” said Joanne Merrick. “Women who’ve had their personal items damaged, tangled and twisted with other items in the wash understand the need for a handy delicates bag.”

More likely to be used when it’s readily available, a delicate items bag protects bras, nylons and lace underwear when placed in the laundry with other clothes. There’s nothing more handy than having a delicates bag directly attached to the hamper, and making it easily removable.

The benefits extend beyond just preserving one’s undergarments. “When asked, a number of people found it frustrating that they often had to do a separate load of laundry just for these items. It seems like a waste” said Gary Merrick. Given that many families do at least three separate loads of washing per week, a light, a dark, and a delicates load, this product now enables less loads, as the delicate items bag can be thrown in with other loads. This provides a potential for 33% saving in customer’s time spent doing the washing, as well as water and energy savings. As people spend an average of 73 minutes every week just doing the laundry*, small savings like this can provide a significant impact over time.

“We were not happy with the available options on the market. An overflowing basket of dirty clothes is an eyesore” Gary said. “We found nearly all hampers with lids to be made of cardboard, presumably to lower production costs. We couldn’t see those products lasting very long.” The company decided there had to be a market for higher quality hampers that also looked great in the home, as well as a hamper for people who don’t want to follow the herd, and want to buy something a little different.
Tired of wishing for a better product, Joanne and Gary decided to create their own. Savvy Selection is about creating innovative products for fundamental household items.

Used daily by every family member, clothes hampers and laundry baskets are a fundamental item for the home. Savvy Selection’s unique product is built to fill the niche of providing great quality, yet remaining affordable, and provides useful features including:

• A magnetic lid (no velcro to snag knit fabrics)
• Internal structure that resists the effects of moisture, and increase durability (corrugated polypropylene structure instead of cardboard)
• Collapsible down to only 1.18 inches for storage
• Lightweight (3.2 pounds)
• Unique color and fabric, which looks great in almost any setting
• Soft rope handles
• Removable liner to transport washing
• Detachable bag for delicate items

“Savvy Selection has some fabulous ideas for existing as well as new products, and believe this market is ripe for innovation” said co-Founder Joanne Merrick. “There have been unexpected benefits as well. Some customers have discovered the usefulness of a delicate items bag to keep their baby socks together in the wash. An unintentional but delightful outcome”.

Since launching their new laundry basket on Amazon, Savvy Selection has been overwhelmed with support from customers. “It’s all about addressing customer’s needs… even if they don’t realize they have a need in the first place” joked co-founder Gary Merrick.

A home grown California-based company, Savvy Selection is dedicated to creating savvy fundamental household products for busy families, saving their time, money, and making their lives just a little bit easier. They welcome your ideas for future products.

*Source : Bureau of Labor Statistics

Contact Info:
Name: Joanne Merrick
Email: Send Email
Organization: Savvy Selection, LLC
Address: 1016 Bird Avenue, San Jose, CA 95125
Phone: 415-837-8140
Website: http://savvy-selection.com

Video URL: https://youtu.be/QEGlX9JQnFk

Source URL: https://marketersmedia.com/savvy-selection-releases-laundry-hamper-aimed-at-saving-time-money-energy/88947336

Source: MarketersMedia

Release ID: 88947336

De La Fuente to Appear on the Ballot in 20 States, So Far

SAN DIEGO, CA / ACCESSWIRE / February 20, 2020 / Headquarters has just announced that Roque "Rocky" De La Fuente has qualified for three more states ballots. Voters in Pennsylvania, Connecticut and New York will see De La Fuente on the ballot for President of The United States GOP Primary. This marks the 20th state overall for which he has qualified.

Prior to this week's news, De La Fuente (better known as "Rocky") had already qualified in the following states: Alabama, Arkansas, Missouri, Utah, Vermont, California, Florida, Texas, Oklahoma, Idaho, Massachusetts, Illinois, Louisiana, Mississippi, Delaware, Rhode Island and West Virginia.

"Sanford and Walsh have both dropped out of the race. That leaves myself, William Weld, and Donald Trump as the contenders in the race. I am the only one to qualify in some of these states. I will be the only option for Republican voters who oppose our President," said Roque "Rocky" De La Fuente in an interview late Wednesday.

As the political environment shifts and appears to be more divisive than functional, De La Fuente's Chief of Staff, Angela Fisher, responded by saying, "Upon reviewing the data it seems as though youth have aligned with our candidate. He has been fighting corruption within elections since 2016 and is a champion in fighting FOR all Americans. He believes all Americans deserve the same opportunities to achieve the American Dream."

Rocky often states that America is more than a geography. It is more than political rivalry and theater. America was made great by providing and ensuring the freedom to build a dream. The American Dream is the both the ideal and the work horse that has made this nation and its people great.

He has developed the street smarts and common sense that will serve him in bringing transformation and practical solutions to the problems that Americans face. Just as Rocky battled in court for 9 years and won the right to fly the American flag on a prominent landmark to honor our country, he will fight for The American Dream.

"Rocky" Roque De La Fuente is living proof that the American Dream can be achieved by those who are inspired to pursue it.

Direct Media Inquiries to:
Angela (Fisher) Velasquez
727.490.9911
media@rocky2020.org

SOURCE: Rocky 2020

ReleaseID: 577283

SHAREHOLDER NOTICE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Trulieve Cannabis Corp. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / February 20, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Trulieve Cannabis Corp. ("Trulieve" or "the Company") (OTCQX:TCNNF) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company's securities between September 25, 2018 and December 17, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before February 28, 2020.

If you are a shareholder who suffered a loss, click here to participate.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. Trulieve inflated the mark-up on its biological assets. This resulted in the Company overstating its gross profits. The Company participated in undisclosed related-party real estate transactions. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Trulieve, investors suffered damages.

Join the case to recover your losses.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.
310-301-3335
Cell: 424-303-1964
info@schallfirm.com
www.schallfirm.com

SOURCE: The Schall Law Firm

ReleaseID: 577282

HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Sasol Limited (SSL) Investors With Losses to Contact its Attorneys: Application Deadline Approaching

SAN FRANCISCO, CA / ACCESSWIRE / February 20, 2020 / Hagens Berman urges investors in Sasol ADRs (NYSE:SSL) who have suffered significant losses to submit their losses now. A securities class action has been filed and certain investors may have valuable claims.

Class Period: Mar. 10, 2015 – Jan. 13, 2020
Lead Plaintiff Deadline: Apr. 6, 2020
Sign Up: www.hbsslaw.com/investor-fraud/SSL
Contact An Attorney Now: SSL@hbsslaw.com
844-916-0895

Sasol Limited (SSL) Securities Class Action:

According to the Complaint, Defendants misled investors by misrepresenting and failing to disclose that; (1) Sasol conducted insufficient due diligence into, and did not account for multiple issues with, Sasol's Lake Charles chemical plant ("LCCP"), as well as its true cost; (2) construction and operation of the LCCP was plagued by control weaknesses, delays, rising costs, and technical issues; and (3) Sasol's top-level management exacerbated these issues by engaging in improper and unethical behavior concerning financial reporting for, and oversight of, the LCCP.

Investors began to learn the truth through a series of disclosures, including on May 22, 2019, when Sasol abruptly raised the project's cost estimate by $1 billion and disclosed an internal review into the project's costs and construction schedule. The company admitted to weaknesses in the project's integrated controls, as well as significant additional concerns related to the project's forecasting process.

Then, on Oct. 27, 2019, Sasol terminated its co-CEOs following an internal probe showing that the Lake Charles project management team acted inappropriately, lacked experience, and was overly focused on maintaining cost and schedule estimates instead of providing accurate information.

Finally, on Jan. 13, 2020, Sasol disclosed an explosion and fire at its Lake Charles project's low-density polyethylene unit, requiring the company to shut down the unit.

Each of these disclosures caused the price of Sasol ADRs to decline sharply.

"We're focused on investors' losses and proving Sasol misled investors about the Lake Charles project's cost, timing and internal controls," said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you purchased Sasol ADRs and suffered significant losses, click here to discuss your legal rights with Hagens Berman.

Whistleblowers: Persons with non-public information regarding Sasol should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email SSL@hbsslaw.com.

# # #

About Hagens Berman

Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:

Reed Kathrein, 844-916-0895

SOURCE: Hagens Berman Sobol Shapiro LLP

ReleaseID: 577281