CLASS ACTION UPDATE for IRBT, BAX, HEXO and FCAU: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, NY / ACCESSWIRE / December 4, 2019 / 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 and further details about the cases can be found at the links provided. There is no cost or obligation to you.
iRobot Corporation (NASDAQ: IRBT)
IRBT Lawsuit on behalf of: investors who purchased November 21, 2016 – October 22, 2019
Lead Plaintiff Deadline: December 23, 2019
Join the action: https://www.zlk.com/pslra-1/irobot-corporation-loss-form?wire=3&prid=4731
The filed complaint alleges that defendants misrepresented the reason for iRobot's acquisitions of Tokyo-based Sales on Demand Corporation and privately-held Robopolis SAS, which was to control the Company's largest distributors so that defendants could inflate sales and revenue figures by stuffing the channel. Defendants further misled investors by repeatedly telling them throughout the Class Period that the Company was seeing continued double-digit revenue growth, and by attributing the growth to increased demand for the Roomba vacuums, when in reality defendants were engaging in channel-stuffing to artificially boost sales. Defendants also misstated that the Company's channel inventory levels had not changed and would not change dramatically from quarter to quarter or year over year, when in fact iRobot was deliberately stuffing the channel in order to claim false revenue growth.
To learn more about the iRobot Corporation class action, contact firstname.lastname@example.org.
Baxter International Inc. (NYSE: BAX)
BAX Lawsuit on behalf of: investors who purchased February 21, 2019 – October 23, 2019
Lead Plaintiff Deadline: January 24, 2020
Join the action: https://www.zlk.com/pslra-1/baxter-international-inc-loss-form?wire=3&prid=4731
The lawsuit alleges: Baxter International Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) certain intra-Company transactions, undertaken for the purpose of generating foreign exchange gains and losses, used foreign exchange rate conventions that were not in accordance with GAAP and enabled intra-Company transactions to be undertaken after the related exchange rates were already known; (2) the Company lacked effective internal control over financial reporting; (3) as a result, the Company's financial statements were misstated and would likely require correction or amendment; (4) due to the Company's internal investigation, Baxter would not be able to file its quarterly report for the period ending September 30, 2019, with the SEC on Form 10-Q in a timely manner; and (5) as a result of the foregoing, Defendants' statements about the Company's business and operations lacked a reasonable basis.
To learn more about the Baxter International Inc. class action, contact email@example.com.
HEXO Corp. (NYSE: HEXO)
HEXO Lawsuit on behalf of: investors who purchased January 25, 2019 – November 15, 2019
Lead Plaintiff Deadline: January 27, 2020
Join the action: https://www.zlk.com/pslra-1/hexo-corp-loss-form?wire=3&prid=4731
The lawsuit alleges that, during the class period, HEXO Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) HEXO's reported inventory was misstated as the Company was failing to write down or write off obsolete product that no longer had value; (2) HEXO was engaging in channel-stuffing in order to inflate its revenue figures and meet or exceed revenue guidance provided to investors; (3) HEXO was cultivating cannabis at its facility in Niagara, Ontario that was not appropriately licensed by Health Canada; 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.
To learn more about the HEXO Corp. class action, contact firstname.lastname@example.org.
Fiat Chrysler Automobiles N.V. (NYSE: FCAU)
FCAU Lawsuit on behalf of: investors who purchased February 26, 2016 – November 20, 2019
Lead Plaintiff Deadline: January 31, 2020
Join the action: https://www.zlk.com/pslra-1/fiat-chrysler-automobiles-n-v-loss-form?wire=3&prid=4731
The lawsuit alleges: Fiat Chrysler Automobiles N.V. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company employed a bribery scheme to obtain favorable terms in its collective bargaining agreement with United Automobile, Aerospace and Agricultural Implement Workers of America; (2) high-ranking Fiat officials were aware of and authorized the scheme; and (3) as a result, Defendants' statements about Fiat's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
To learn more about the Fiat Chrysler Automobiles N.V. class action, contact email@example.com.
You have until the lead plaintiff deadlines to request 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.
SOURCE: Levi & Korsinsky, LLP