Kuznicki Law PLLC Announces Class Actions on Behalf of Shareholders of LOMA, IMMU, DBVT and AXGN
CEDARHURST, N.Y., Jan. 31, 2019 (GLOBE NEWSWIRE) -- The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff and a preliminary estimate of their recoverable losses.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No classes have yet been certified in the actions below. Appointment as lead plaintiff is not required to partake in any recovery.
Loma Negra Compañía Industrial Argentina Sociedad Anónima (NYSE: LOMA)A class action has commenced on behalf of shareholders in Loma Negra Compañía Industrial Argentina Sociedad Anónima who purchased shares between Purchasers of American Depositary Shares pursuant and/or traceable to the Company’s June 2017 IPO.
The complaint alleges that the Registration Statement contained untrue statements of material fact and omitted material facts. In particular, the Registration Statement downplayed and misrepresented Loma Negra’s exposure to a massive, ongoing corruption scandal engulfing its majority owner, InterCement Participações S.A. The Registration Statement further misrepresented a purported increased demand for Loma Negra’s cement and other products as a result of economic growth and government funding for public works projects in Argentina, as well as the purported benefits to Loma Negra from that increased demand. The Registration Statement also misrepresented events and trends in the Argentinian economy, as well as Loma Negra’s exposure thereto.
Shareholders may find more information at https://kseclaw.com/securities/loma-negra-compania-industrial-argentina-sociedad-anonima-ads-loss-form/?wire=3
Immunomedics, Inc. (NASDAQ: IMMU)A class action has commenced on behalf of shareholders in Immunomedics, Inc. who purchased shares between August 23, 2018 and December 20, 2018. The complaint alleges that, throughout the class period, defendants made false and misleading statements. The United States Food & Drug Administration issued citations against Immunomedics for multiple violations at its Morris Plains, New Jersey facility. The FDA citations included the manipulation of bioburden samples, backdating of records, and misrepresentation of integrity test procedures. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. On December 17, 2018, FDAnews.com published an article entitled “FDA Hits Immunomedics for Data Integrity Breach.” Upon this news, Immunomedics’ stock price fell sharply, damaging investors.
Shareholders may find more information at https://kseclaw.com/securities/immunomedics-inc/?wire=3
DBV Technologies S.A. (NASDAQ: DBVT)A class action has commenced on behalf of shareholders in DBV Technologies S.A. who purchased shares between February 14, 2018 and December 19, 2018. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) DBV Technologies’ Biologics License Application (“BLA”) for Viaskin Peanut failed to provide the FDA with sufficient data on manufacturing procedures and quality controls; (2) consequently, DBV Technologies voluntarily withdrew the BLA for Viaskin Peanut; and (3) as a result, defendants’ statements about DBV Technologies’ business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
Shareholders may find more information at https://kseclaw.com/securities/dbv-technologies-s-a/?wire=3
AxoGen, Inc. (NASDAQ: AXGN)A class action has commenced on behalf of shareholders in AxoGen, Inc. who purchased shares between August 7, 2017 and December 18, 2018. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the Company aggressively increased prices to mask lower sales; (2) the Company’s pricing alienated customers and threatened the Company’s future growth; (3) ambulatory surgery centers form a significant part of the market for the Company’s products; (4) such centers were especially sensitive to price increases; (5) the Company was dependent on a small number of surgeons whom the Company paid to generate sales; (6) the Company’s consignment model for inventory was reasonably likely to lead to channel stuffing; (7) the Company offered purchase incentives to sales representatives to encourage channel stuffing; (8) the Company’s sales representatives were encouraged to backdate revenue to artificially inflate metrics; (9) the Company lacked adequate internal controls to prevent such channel stuffing and backdating of revenue; (10) the Company’s key operating metrics, such as number of active accounts, were overstated; and (11) 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.
Shareholders may find more information at https://kseclaw.com/securities/axogen-inc/?wire=3
Kuznicki Law PLLC is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company’s stock.
CONTACT:Kuznicki Law PLLCDaniel Kuznicki, Esq.445 Central Avenue, Suite 334Cedarhurst, NY 11516Email: firstname.lastname@example.orgPhone: (347) 696-1134Cell: (347) 690-0692Fax: (347) 348-0967