CLASS ACTION UPDATE for NWL, FLKS and ABBV: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, Aug. 05, 2018 (GLOBE NEWSWIRE) -- 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.
Newell Brands Inc. (NYSE: NWL) Class Period: February 6, 2017 - January 24, 2018 Lead Plaintiff Deadline: August 20, 2018 Join the action: http://www.zlk.com/pslra-d/newell-brands-inc?wire=3
Allegations: Newell Brands Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (i) the Company’s retail channel was loaded with extremely high levels of unsold Newell product; (ii) contrary to defendants’ representations, the build-up of Newell inventory in the retail channel was due to Company-specific rather than macroeconomic reasons; (iii) as a result of the unusually high levels of unsold inventory in the retail channel, Newell was exposed to a heightened risk that it would experience slower sales growth in future periods; and (iv) undisclosed managerial and cultural differences in the legacy Newell and Jarden businesses had created significant discord that was having a material adverse effect on the Company’s operating performance.
To learn more about the NWL class action contact firstname.lastname@example.org.
Flex Pharma, Inc. (NASDAQ: FLKS) Class Period: November 6, 2017 - June 12, 2018 Lead Plaintiff Deadline: August 20, 2018 Join the action: http://www.zlk.com/pslra-d/flex-pharma-inc?wire=3
Allegations: During the class period, Flex Pharma, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) the Company overstated the viability and approval prospects for its product candidate FLX-787 for the treatment of amyotrophic lateral sclerosis and Charcot-Marie-Tooth disease; and (ii) as a result, Flex’s public statements were materially false and misleading at all relevant times. On June 13, 2018, Flex announced that it planned to halt its FLX-787 trials, citing oral tolerability concerns observed in both studies. Flex also said that it will restructure its organization to reduce costs, including reducing its workforce by approximately 60%, and that Flex’s Board is exploring “strategic alternatives, including the potential sale or merger of the company.” Following this news, Flex stock dropped $3.14 per share, or 75.12%, to close at $1.04 on June 13, 2018.
To learn more about the FLKS class action contact email@example.com.
AbbVie Inc. (NYSE: ABBV) Class Period: May 30, 2018 Lead Plaintiff Deadline: September 24, 2018 Join the action: http://www.zlk.com/pslra-d/abbvie-inc?wire=3
Allegations: The complaint alleges that AbbVie issued false and misleading statements, in both press releases and filings with the U.S. Securities and Exchange Commission, regarding the results of the Company’s $7.5 billion modified Dutch auction tender offer that expired on May 29, 2018 (the “Tender Offer”). Specifically, the complaint alleges that before the opening of trading on May 30, 2018, the Company announced that it expected to acquire 71.4 million of its shares tendered at or below $105 per share. As a result of this news, the price of AbbVie securities significantly increased. However, after the close of trading on May 30, 2018, the Company released materially different results for the Tender Offer due to certain omissions, announcing that the Company expected to acquire only those shares tendered at or below $103 per share. Upon this news, AbbVie shares fell from a close of $103.01 per share on May 30, 2018, to a close of $98.94 on May 31, 2018.
To learn more about the ABBV class action contact firstname.lastname@example.org.
You have until the lead plaintiff deadlines to request the court appoint 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.30 Broad Street - 24th FloorNew York, NY 10004 email@example.com Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171www.zlk.com