Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against ADT, Inc., Micro Focus International Plc, and PolarityTE, Inc. and Encourages Investors to Contact the Firm
Bragar Eagel & Squire
Jul. 13, 2018
NEW YORK, July 12, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that class action lawsuits have been commenced on behalf of shareholders of ADT, Inc., Micro Focus International Plc, and PolarityTE, Inc. Shareholders have until the deadlines listed below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
ADT Inc. (NYSE:ADT)
Class Period: January 15, 2018 - May 21, 2018
Lead Plaintiff Deadline: July 20, 2018
The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) ADT’s Registration Statement made material misrepresentations and omissions by failing to disclose historical metrics integral to appraising ADT key value drivers.; (ii) ADT’s discussions of risk factors did not mention, or adequately describe the risk posed by, the then already occurring 75% increase in year-over-year losses, nor the other complete yet undisclosed materially negative 4Q and FY 2017 results and trends, nor ADT’s dependence on the Trump tax cut to meet even the extreme low end of its 2017 estimate ranges, nor the omission of historically critical metrics, nor the likely and consequent materially adverse effects on the Company’s future results, share price, and prospects; (iii) Defendants’ failure to disclose the then complete materially negative 4Q and FY 2017 results and trends, and ADT’s dependence on the Trump tax cut to meet even the extreme low end of its 2017 estimate ranges, much less the likely material effects they would have on ADT’s share price, rendered false and misleading the Registration Statements many references to known risks that if occurring might or could affect the Company; and (iv) as a result, ADT’s public statements were materially false and misleading at all relevant times.
To learn more about the ADT class action go to: http://bespc.com/adt
Micro Focus International plc (NYSE:MFGP)
Class Period: September 1, 2017 – May 23, 2018
Lead Plaintiff Deadline: July 23, 2018
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) HPE Software was experiencing significant disruptions in global customer accounts from its de-merger from HP; (2) HPE Software and Micro Focus were experiencing employee attrition, which adversely impacted Micro Focus’s operational capabilities and revenue trends; (3) Micro Focus was suffering worsening revenue trends and on pace to significantly miss market expectations for its interim results in its core legacy business for the six months ended October 31, 2017; (4) Micro Focus was experiencing significant sales execution problems in its North America region; (5) HPE Software did not have the operational capabilities, loyal customer base, products or key personnel to justify its purchase price or to reverse worsening revenue trends; (6) Micro Focus had failed to put in place the operations, procedures and personnel necessary to integrate successfully with HPE Software to provide a reasonable likelihood that the purported synergies from the Merger would be realized; (7) the total enterprise value for the Merger was artificially inflated by more than $3.4 billion; and (8) as a result Micro Focus’s ability to service the increased debt load it had incurred as a result of the Merger had been materially impaired. When the true details entered the market, the lawsuit claims that investors suffered damages.
To learn more about the Micro Focus class action go to: https://bespc.com/mfgp/
PolarityTE, Inc. (NASDAQ:COOL)
Class Period: March 31, 2017 – June 22, 2018
Lead Plaintiff Deadline: August 27, 2018
The complaint alleges that on June 25, 2018, Citron Research (“Citron”) issued a report in which Citron detailed the Company’s track record of material misrepresentations, misstatements, and omissions pertaining to the status of a key patent application. The Citron report noted that as far back as March 31, 2017, the USPTO notified the Company of its non-final rejection of patent #14/954,335. Citron’s report continued to highlight the Company’s subsequent failure to disclose the patent’s non-final rejection status and its continued behavior of representing the technology linked to the patent in a positive light. The report also pointed to the USPTO’s final rejection of the patent on June 4, 2018 information that the Company also failed to disclose. On this news, COOL stock plunged more than 34%.
To learn more about the PolarityTE class action go to: https://bespc.com/polarityte
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.