The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of COST, RYAAY, MGI and PPDF
NEW YORK, Nov. 28, 2018 (GLOBE NEWSWIRE) -- The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
Costco Wholesale Corporation (NASDAQGS: COST) Class Period: June 6, 2018 to October 25, 2018 Lead Plaintiff Deadline: January 7, 2019
During the class period, Costco Wholesale Corporation allegedly 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.
Get additional information about the COST lawsuit: http://www.kleinstocklaw.com/pslra-1/costco-wholesale-corporation-loss-submission-form?wire=3
Ryanair Holdings plc (NASDAQ: RYAAY) Class Period: Purchasers of American Depositary Shares May 30, 2017 - September 28, 2018 Lead Plaintiff Deadline: January 9, 2019
The complaint alleges Ryanair Holdings plc made materially false and/or misleading statements and/or failed to disclose that: (a) the Company had experienced a breakdown in relations with its employees amidst their growing dissatisfaction with working conditions, lack of benefits, exploitative contracts and management hostility; (b) the Company’s pilots and/or cabin crews had sought union recognition or collectivization in several key markets and employees had internally expressed widespread discontent with the Company’s collective bargaining units; (c) the Company was experiencing elevated and increasing employee turnover, which had resulted in the loss of hundreds of qualified and skilled employees to competitor airlines; (d) the Company’s newly negotiated contracts had not ameliorated employee discontent or “locked away” employee wage growth for three or four years, but rather, defendants were aware that pilot and cabin crew contracts had to be reformulated to significantly increase pay and benefits, comply with local labor laws and provide other worker concessions to enable Ryanair to hire and retain sufficient qualified employees to meet operational targets; (e) because of the aforementioned, the Company was unable to hire sufficient pilots to meet expected demand and was thereby exposed to increased risk of flight cancellations, loss of reputational assets and increased costs from flight disruptions; (f) because of the aforementioned, the Company’s historical operating model and profit growth were not sustainable; and (g) the Company could not meet internal earnings expectations.
Get additional information about the RYAAY lawsuit: http://www.kleinstocklaw.com/pslra-1/ryanair-holdings-plc-loss-submission-form?wire=3
MoneyGram International, Inc. (NASDAQGS: MGI) Class Period: February 11, 2014 to November 8, 2018 Lead Plaintiff Deadline: January 14, 2019
The complaint alleges that during the class period MoneyGram International, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) MoneyGram was aware for years of high levels of fraud involving its money transfer system; (2) MoneyGram failed to implement appropriate anti-fraud countermeasures, in part, because doing so would adversely impact its revenue; (3) this misconduct would draw scrutiny from the FTC, which had an agreed-upon order requiring MoneyGram to implement a comprehensive anti-fraud program; (4) this misconduct would draw scrutiny from the Department of Justice, which entered into a Deferred Prosecution Agreement concerning MoneyGram’s anti-fraud and anti-money laundering programs; and (5) as a result, defendants’ statements about MoneyGram’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Get additional information about the MGI lawsuit: http://www.kleinstocklaw.com/pslra-1/moneygram-international-inc-loss-submission-form?wire=3
PPDAI Group Inc. (NYSE: PPDF) Class Period: Purchasers of American Depositary Shares pursuant and/or traceable to the Registration Statement issued in connection with PPDAI’s November 2017 Initial Public Offering Lead Plaintiff Deadline: January 25, 2019
The complaint alleges that the Registration Statement issued in connection with the IPO contained materially false and/or misleading statements and/or failed to disclose material information, including that: (1) PPDAI was engaged in predatory lending practices that saddled subprime borrowers and those with poor or limited credit histories with high interest rate debt they could not repay; (2) many of PPDAI’s customers were using PPDAI-provided loans to repay existing loans they otherwise could not afford to repay, thereby inflating PPDAI’s revenues and active borrower numbers and increasing the likelihood of defaults; (3) PPDAI was experiencing increasing delinquency rates, negatively affecting PPDAI’s reserves; (4) PPDAI’s purported “rapid growth” in the number and amount of loans had materially dropped off; and (5) PPDAI was providing online loans to college students despite a government ban on the practice.
Get additional information about the PPDF lawsuit: http://www.kleinstocklaw.com/pslra-1/ppdai-group-inc-loss-submission-form?wire=3
Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. There is no cost or obligation to you. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.