CLASS ACTION UPDATE for COST, RBBN (SONS) and CURO: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, Dec. 20, 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.
Costco Wholesale Corporation (NASDAQGS: COST) Class Period: June 6, 2018 - October 25, 2018 Lead Plaintiff Deadline: January 7, 2019 Join the action: https://www.zlk.com/pslra-1/costco-wholesale-corporation-loss-form?wire=3
The lawsuit alleges: Costco Wholesale Corporation made materially false and/or misleading statements and/or failed to disclose that: (i) Costco lacked effective internal control over financial reporting; (ii) as a result of the foregoing, Defendants’ statements about Costco’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
On October 4, 2018, Costco announces that “in its upcoming fiscal 2018 Annual Report on Form 10-K, it expects to report a material weakness in internal control. The weakness relates to general information technology controls in the areas of user access and program change-management over certain information technology systems that support the Company’s financial reporting processes. The access issues relate to the extent of privileges afforded users authorized to access company systems.” Following this news, shares of Costco fell from a close of $231.68 on October 4, 2018, to a close of $218.82 the following day.
To learn more about the Costco Wholesale Corporation class action contact email@example.com.
Ribbon Communications, Inc. (NASDAQ: RBBN) formerly Sonus Networks, Inc. (NASDAQ: SONS) Class Period: January 8, 2015 - March 24, 2015 Lead Plaintiff Deadline: January 7, 2019 Join the action: https://www.zlk.com/pslra-1/sonus-networks-inc-loss-form?wire=3
The lawsuit alleges: Sonus Networks, Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) the Company would fall materially short of its $74 million revenue forecast; (2) defendants knew that unrealistic revenue and profitability forecasts remained aspirational and largely unreachable, a fact that senior sales personnel regularly communicated to Defendants; (3) a number of 2015 sales had been “pulled forward” to buoy sales numbers in Q4 2014, at management’s express direction, and (4) the “backlog” of sales expected to be recognized in early 2015 was significantly lower than usual.
To learn more about the Sonus Networks, Inc. class action contact firstname.lastname@example.org.
CURO Group Holdings Corp. (NYSE: CURO) Class Period: July 31, 2018 - October 24, 2018 Lead Plaintiff Deadline: February 4, 2019 Join the action: https://www.zlk.com/pslra-1/curo-group-holdings-corp-loss-form?wire=3
The complaint alleges that throughout the class period Defendants materially misrepresented to investors the deleterious effect that the up-front loan loss provisioning in connection with a transition of its Canadian inventory to Open-Ended loans was having on the Company’s financial performance and 2018 full-year Company guidance. Because CURO’s Open-End Loans had a materially lower lending yield than the Single-Pay Products, and the portfolio of Open-End Loans was still immature and unseasoned, the up-front loan loss provisioning for these loans was far greater than publicly revealed (and the yield far lower). This caused the Company to materially overstate its 2018 projected financial results, including CURO’s adjusted EBITDA, net revenue and operating earnings.
To learn more about the CURO Group Holdings Corp. 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