CLASS ACTION UPDATE for REVG and ORA: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
Levi & Korsinsky, LLP
Jul. 13, 2018
NEW YORK, July 13, 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; further details about the cases can be found at the links provided.
REV Group, Inc. (NYSE:REVG)Class Period: pursuant to the initial public offering on or around January 27, 2017 and/or January 27, 2017 - June 7, 2018Lead Plaintiff Deadline: August 7, 2018
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: the Company was experiencing cost inflation across many of the commodities and services it bought; the Company was experiencing difficulty obtaining the chassis necessary for production; the Company’s margins were being negatively impacted by a lower sales of high margin products; the Company did not have “strong visibility into future net sales” to “effectively plan” and manage its backlog of vehicles; the Company’s manufacturing operations were not operating efficiently or at a low cost to satisfy customer demand; and as a result of the foregoing, Defendants’ statements about REV’s business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
To learn more about REVG go to: http://www.zlk.com/pslra-d/rev-group-inc?wire=3.
Ormat Technologies, Inc. (NYSE:ORA) Class Period: August 8, 2017 to May 15, 2018Lead Plaintiff Deadline: August 8, 2018
During the class period, Ormat allegedly made materially false and/or misleading statements and/or failed to disclose that: 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; 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; Ormat’s internal controls over financial reporting were ineffective; Ormat would need to restate its second, third and fourth quarter 2017 financial statements and its full-year 2017 financial statements; and 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 go to: http://www.zlk.com/pslra-d/ormat-technologies-inc?wire=3.
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 10004Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171www.zlk.com