Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Oracle, Pinduoduo, and Nevro and Encourages Investors to Contact the Firm
NEW YORK, Sept. 18, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Oracle Corporation, Pinduoduo Inc., and Nevro Corp. Stockholders have until the deadlines listed below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Oracle Corporation (ORCL)
Class Period: May 10, 2017 - March 19, 2018
Lead Plaintiff Deadline: October 9, 2018
The complaint action alleges that throughout the class Period, defendants misrepresented the true drivers of the company’s cloud revenue growth. Specifically, defendants falsely attributed the company’s revenue growth in its cloud segment to a variety of factors and initiatives, including, among other things, Oracle’s “unprecedented level of automation and cost savings,” as well as the company being “customer-focused” and “intimate partners with our customer.” In truth, Oracle drove sales of cloud products using threats and extortive tactics. The use of such tactics concealed the lack of real demand for Oracle’s cloud services, making the growth unsustainable and ultimately driving away customers. Among other things, the company threatened current customers with “audits” of their use of the company’s non-cloud software licenses unless the customers agreed to shift their business to Oracle cloud programs.
To learn more about the Oracle class action go to: https://bespc.com/oracle/.
Pinduoduo Inc. (PDD)
Class Period: July 23, 2018 - August 21, 2018
Lead Plaintiff Deadline: October 22, 2018
The complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. In the Registration Statement and Prospectus issued in connection with Pinduoduo’s IPO, defendants made materially false and misleading statements regarding the company’s business, operational, and compliance policies. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) Pinduoduo’s controls were ineffective to prevent third-party vendors from selling counterfeit goods on the company’s online platform; (2) consequently, Pinduoduo’s revenues and the number of active merchants using its platform were traceable in part to unlawful conduct and thus unsustainable; and (3) as a result, Pinduoduo’s public statements were materially false and misleading at all relevant times.
To learn more about the Pinduoduo class action go to: http://bespc.com/pdd/.
Nevro Corp. (NVRO)
Class Period: January 8, 2018 - July 12, 2018
Lead Plaintiff Deadline: October 22, 2018
The Complaint alleges that, throughout the Class Period, defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and the proprietary nature of the company’s principal products. Specifically, defendants allegedly made false and/or misleading statements and/or failed to disclose that: (1) that Nevro had engaged in a fraudulent scheme by using protected confidential and proprietary trade secrets and stolen documents from its competitors to develop and enhance the company’s Senza systems; (2) that as a result, the company’s Senza systems were not “novel” or “proprietary;” (3) that these practices caused the Company to be vulnerable to increased litigation expenses and adverse legal and regulatory action; (4) that, as a result, Nevro’s U.S. sales growth was not sustainable; and (5) that, as a result of the foregoing, Defendants’ statements about Nevro’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
To learn more about the Nevro class action go to: http://bespc.com/nevro/.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com.