CLASS ACTION UPDATE for WBT, GS, TS and XPO: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, Jan. 31, 2019 (GLOBE NEWSWIRE) -- NEW YORK, January 31, 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.
Welbilt, Inc. (NYSE: WBT) Class Period: February 24, 2017 - November 2, 2018 Lead Plaintiff Deadline: February 11, 2019 Join the action: https://www.zlk.com/pslra-1/welbilt-inc-loss-form?wire=3
Allegations: Welbilt, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the Company lacked effective internal control over financial reporting; (ii) the Company was incorrectly recording the tax basis of foreign subsidiaries and the amortization of their intangible assets; and (iii) as a result of the foregoing, Defendants’ statements about Welbilt’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On November 5, 2018, Welbilt filed a Form 8-K for its Q3 2018, stating that “During the third quarter of 2018, the Company identified errors in the tax basis of a foreign subsidiary and incorrect amortization of the intangible assets held by the same entity… In addition, the Company discovered certain intercompany transactions were not recorded on a timely basis.” As a result of these errors, Welbilt announced that “the consolidated financial statements of the Company as of and for the year ended December 31, 2016 will be restated, and as of and for the years ended December 31, 2015 and 2017 are expected to be revised.”
To learn more about the Welbilt, Inc. class action contact firstname.lastname@example.org.
The Goldman Sachs Group, Inc. (NYSE: GS) Class Period: February 28, 2014 - December 17, 2018 Lead Plaintiff Deadline: February 19, 2019 Join the action: https://www.zlk.com/pslra-1/the-goldman-sachs-group-inc-loss-form?wire=3
Allegations: The Goldman Sachs Group, Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) Goldman Sachs participated in a fraud and money-laundering scheme in collusion with 1Malaysia Development Bhd., a Malaysian state-owned investment fund; (2) the foregoing conduct, when revealed, would foreseeably subject Goldman Sachs to heightened regulatory investigations and enforcement; and (3) as a result, Goldman Sachs’s public statements were materially false and misleading at all relevant times.
To learn more about the The Goldman Sachs Group, Inc. class action contact email@example.com.
Tenaris S.A. (NYSE: TS) Class Period: May 1, 2014 - November 27, 2018 Lead Plaintiff Deadline: February 11, 2019 Join the action: https://www.zlk.com/pslra-1/tenaris-s-a-loss-form?wire=3
Allegations: During the class period, Tenaris S.A. made materially false and/or misleading statements and/or failed to disclose that: (1) Tenaris’s CEO and Chairman, Paolo Rocca, knew that one of his company’s executives paid cash to government officials from 2009 to 2012 to expedite compensation payments for the sale of Sidor; (2) this conduct would lead to Rocca being charged in a graft scheme, and subject Tenaris, its affiliates, and/or executives to heightened governmental scrutiny; and (3) as a result, Tenaris’s public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
To learn more about the Tenaris S.A. class action contact firstname.lastname@example.org.
XPO Logistics, Inc. (NYSE: XPO) Class Period: February 26, 2014 - December 12, 2018 Lead Plaintiff Deadline: February 12, 2019 Join the action: https://www.zlk.com/pslra-1/xpo-logistics-inc-loss-form?wire=3
Allegations: XPO Logistics, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) XPO’s highly touted aggressive M&A strategy had yielded only minimal returns to the Company; (ii) XPO was utilizing improper accounting practices to mask its true financial condition, including, inter alia, under-reporting of bad debts and aggressive amortization assumptions; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
To learn more about the XPO Logistics, Inc. 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. CONTACT:Levi & Korsinsky, LLPJoseph E. Levi, Esq.55 Broadway, 10th FloorNew York, NY 10006 firstname.lastname@example.org Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com