CLASS ACTION UPDATE for ORA and NWL: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
Levi & Korsinsky, LLP
Jul. 24, 2018
NEW YORK, July 24, 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.
Ormat Technologies, Inc. (NYSE:ORA) Class Period: August 8, 2017 - May 15, 2018 Lead Plaintiff Deadline: August 8, 2018
Ormat Technologies, Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) there were errors in the income tax provision primarily relating to Ormat’s valuation allowance based on its ability to utilize foreign tax credits in the U.S. prior to their expiration; (2) Ormat netted certain deferred income tax assets and deferred income tax liabilities across different tax jurisdictions that are not permitted to be netted pursuant to United States generally accepted accounting principles; (3) Ormat’s internal controls over financial reporting were ineffective; (4) Ormat would need to restate its second, third and fourth quarter 2017 financial statements and its full-year 2017 financial statements; and (5) as a result, defendants’ statements about Ormat’s business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.
To learn more about the ORA class action go to: http://www.zlk.com/pslra-d/ormat-technologies-inc?wire=3 or email firstname.lastname@example.org.
Newell Brands Inc. (NYSE:NWL) Class Period: February 6, 2017 - January 24, 2018 Lead Plaintiff Deadline: August 20, 2018
During the class period, Newell Brands Inc. made materially false and/or misleading statements 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 go to: http://www.zlk.com/pslra-d/newell-brands-inc?wire=3 or email email@example.com.
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 firstname.lastname@example.org Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171www.zlk.com