SmileDirectClub, Inc. (SDC), Dropbox, Inc. (DBX) & Uber Technologies, Inc. (UBER) – Bronstein, Gewirtz & Grossman, LLC Class Action Alert
NEW YORK, NY / ACCESSWIRE / November 8, 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.
SmileDirectClub, Inc. (NASDAQ: SDC)
Class Period: SmileDirectClub Class A common stock pursuant and/or traceable to the registration statement and prospectus (collectively, the "Registration Statement") issued in connection with SmileDirectClub's September 2019 initial public offering ("IPO").
Deadline: December 2, 2019
For more info: www.bgandg.com/sdc
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) administrative personnel, rather than licensed doctors, provided treatment to SmileDirectClub's customers and monitored their progress; (2) SmileDirectClub's practices did not qualify as teledentistry under applicable standards; (3) SmileDirectClub was subject to regulatory scrutiny for the unlicensed practice of dentistry; (4) the efficacy of SmileDirectClub's treatment was overstated; (5) SmileDirectClub had concealed these deceptive marketing practices prior to the IPO; and (6) as a result of the foregoing, defendants' positive statements about SmileDirectClub's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Dropbox, Inc. (NASDAQ: DBX)
Class Period: Dropbox Class A common stock pursuant or traceable to the Registration Statement issued in connection with the Company's March 23, 2018 initial public offering (the "IPO").
Deadline: December 3, 2019
For more info: www.bgandg.com/dbx
On February 23, 2018, Dropbox filed a registration statement for the IPO on Form S-1, which, after several amendments, was declared effective on March 22, 2018 (the "Registration Statement"). On March 23, 2018, Dropbox filed the prospectus for the IPO on Form 424B4, which incorporated and formed part of the Registration Statement. By way of the Registration Statement, Defendants offered and sold 41.4 million Class A shares at $21 per share for over $869 million in gross offering proceeds, which included the full exercise of underwriters' over-allotment option to sell an additional 5.4 million shares. In addition, the Company conducted a private offering of Class A stock concurrently with the IPO in which it sold over 4.7 million shares to an institutional investor for an additional $100 million in gross proceeds. Numerous Company insiders, including certain of the Individual Defendants, also sold stock in the IPO, raking in more than $184 million after applicable underwriting discounts. Underwriters received more than $38.6 million in underwriting discounts and fees from the IPO proceeds, and several, including lead underwriters Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC, received tens of millions of dollars more as a result of payments by Dropbox towards a revolving credit facility maintained by these investment banks.
Uber Technologies, Inc. (NYSE: UBER)
Class Period: pursuant and/or traceable to the registration statement and related prospectus (collectively, the "Registration Statement") issued in connection with Uber's May 2019 initial public stock offering (the "IPO" or the "Offering").
Deadline: December 3, 2019
For more info: www.bgandg.com/uber
The complaint alleges that the Registration Statement was false and/or misleading statements and/or failed to disclose that: (1) at the time of the Offering, Uber was rapidly increasing subsidies for drivers and customer's rides and meals in a bid for market share, which caused the Company's sales and marketing expenses to swell; (2) Defendants were cutting (or planned to cut) costs in key areas that undermined the Company's central growth opportunities; and (3) as a result, defendants' statements about Uber's business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC