The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of COST, NKTR, GSKY, RBBN (SONS) and MGI
NEW YORK, Dec. 18, 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
According to the complaint, 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
Nektar Therapeutics (NASDAQ: NKTR) Class Period: November 11, 2017 to October 2, 2018 Lead Plaintiff Deadline: December 31, 2018
The complaint alleges Nektar Therapeutics made materially false and/or misleading statements and/or failed to disclose that: (1) prior studies which attempted to pegylate IL-2 failed; (2) the extended half-life of the Company’s lead I-O candidate, NKTR-214, was unlikely to result in efficacy and created additional high-dosing safety concerns; (3) NKTR-214 was less effective than IL-2 alone; (4) the combination of NKTR-214 with nivolumab has yet to demonstrate significant positive results; and (5) as a result, Nektar’s public statements as set forth above were materially false and misleading at all relevant times.
Get additional information about the NKTR lawsuit: http://www.kleinstocklaw.com/pslra-1/nektar-therapeutics-loss-submission-form?wire=3
GreenSky, Inc. (NASDAQGS: GSKY) Class Period: Class A common shareholders who purchased shares pursuant to the IPO on or around May 23, 2018 Lead Plaintiff Deadline: January 28, 2019
The complaint alleges that the Offering Documents failed to disclose material information and/or misstated material information, including the substantial change in the composition of GreenSky’s merchant business mix and the resulting diminution in transaction-fee revenue. The Initial Public Offering closed on May 29, 2018 with GreenSky having sold 43.7 million shares of Class A common stock at $23.00 per share. On November 6, 2018, GreenSky issued a press release indicating that the Company’s transaction-fee rate was approximately 35 basis points below the rate achieved in the third quarter of 2017. Following this news, shares of GreenSky closed at $9.28 per share on November 6, 2018.
Get additional information about the GSKY lawsuit: http://www.kleinstocklaw.com/pslra-1/greensky-inc-loss-submission-form?wire=3
Ribbon Communications, Inc. (NASDAQ: RBBN) formerly Sonus Networks, Inc. (NASDAQ: SONS) Class Period: January 8, 2015 to March 24, 2015 Lead Plaintiff Deadline: January 7, 2019
The lawsuit alleges that throughout the class period, Sonus Networks, Inc. made materially false and/or misleading statements 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.
Get additional information about the SONS lawsuit: http://www.kleinstocklaw.com/pslra-1/sonus-networks-inc-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
Throughout the class period, MoneyGram International, Inc. allegedly 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
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.