CLASS ACTION UPDATE for GDOT, BZUN and PTLA: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

NEW YORK, NY / ACCESSWIRE / January 29, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court. Further details about the cases can be found at the links provided. There is no cost or obligation to you.

GDOT Shareholders Click Here: https://www.zlk.com/pslra-1/green-dot-corporation-loss-form?prid=5375&wire=1
BZUN Shareholders Click Here: https://www.zlk.com/pslra-1/baozun-inc-loss-form?prid=5375&wire=1
PTLA Shareholders Click Here: https://www.zlk.com/pslra-1/portola-pharmaceuticals-inc-loss-form?prid=5375&wire=1

* ADDITIONAL INFORMATION BELOW *

Green Dot Corporation (NYSE:GDOT)

GDOT Lawsuit on behalf of: investors who purchased May 9, 2018 – November 7, 2019
Lead Plaintiff Deadline : February 18, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/green-dot-corporation-loss-form?prid=5375&wire=1

According to the filed complaint, during the class period, Green Dot Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) Green Dot's strategy to attract "high-value" long-term customers was at the expense of "one and done" customers; (2) Green Dot's "one and done" customers represented a significant source of revenues in its legacy segment; (3) consequently, Green Dot's strategy was self-sabotaging; and (4) as a result of the foregoing, Defendants' statements about its business and operations were materially false and misleading at all relevant times.

Baozun Inc. (NASDAQ:BZUN)

BZUN Lawsuit on behalf of: investors who purchased Baozun American Depository Receipts between March 6, 2019 and November 20, 2019
Lead Plaintiff Deadline : February 10, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/baozun-inc-loss-form?prid=5375&wire=1

According to the filed complaint, (a) Baozun was heavily reliant upon a single brand partner, Huawei, for the exponential service fee growth it had been reporting historically, which was in turn fueling its historical revenue growth; (b) compared to other brands Baozun had as brand partners, the Huawei work had historically included a lot of additional add-on service fees, increasing the revenue reported from Huawei vis-a-via its other brand partners; (c) Huawei, like other large brands, was actively preparing to bring its online merchandising in-house, meaning Baozun knew that it was losing a significant brand partner; and (d) as a result of the foregoing, the Company was not on track to achieve the financial results and performance Defendants claimed the Company was on track to achieve during the class period.

Portola Pharmaceuticals, Inc. (NASDAQ:PTLA)

PTLA Lawsuit on behalf of: investors who purchased November 5, 2019 – January 9, 2020
Lead Plaintiff Deadline : March 16, 2020
TO LEARN MORE, VISIT: https://www.zlk.com/pslra-1/portola-pharmaceuticals-inc-loss-form?prid=5375&wire=1

According to the filed complaint, during the class period, Portola Pharmaceuticals, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) Portola's internal control over financial reporting regarding reserve for product returns was not effective; (2) Portola was shipping longer-dated product with 36-month shelf life; (3) Portola had not established adequate reserve for returns of prior shipments of short-dated product; (4) as a result, Portola was reasonably likely to need to "catch up" on accounting for return reserves; 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.

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

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