CLASS ACTION UPDATE for DNKEY, YOGA, SOGO and ARLO: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders
NEW YORK, Feb. 04, 2019 (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.
Danske Bank A/S (OTCMKTS: DNKEY) Class Period: Purchasers of American Depositary Receipts between January 9, 2014 and October 23, 2018 Lead Plaintiff Deadline: March 11, 2019 Join the action: https://www.zlk.com/pslra-1/danske-bank-a-s-loss-form?wire=3
The lawsuit alleges: Danske Bank A/S made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (i) Danske Bank’s Estonian branch was facilitating money laundering through at least March 2016; (ii) that a whistleblower had reported the Estonian money laundering to the Company in 2013; (iii) that Denmark’s Financial Supervisory Authority (the “DFSA”) had been investigating the Estonian money laundering since 2014; (iv) that Danske Bank had concealed the results of its own internal investigation from the DFSA, further exposing it to regulatory action and fines; (v) that Danske Bank had been overstating its historical profits by including the profits derived from its illicit Estonian operations; and (vi) that Danske Bank lacked effective internal and reporting controls.
To learn more about the Danske Bank A/S class action contact email@example.com.
YogaWorks, Inc. (NasdaqGM: YOGA) Class Period: Pursuant to the IPO commenced around August 10, 2017 and closed on August 16, 2017 Lead Plaintiff Deadline: February 25, 2019 Join the action: https://www.zlk.com/pslra-1/yogaworks-inc-loss-form?wire=3
The complaint alleges that Defendants violated their disclosure obligations because the Offering Materials materially misrepresented and failed to adequately disclose the truth concerning several known trends negatively impacting YogaWorks’ business at the time of the IPO, including, inter alia: (i) declining studio profitability; (ii) the impact of increased corporate overhead; (iii) declining financial metrics that would ultimately lead to a substantial impairment charge and (iv) the conditions that led the Defendants to postpone the initial offering.
To learn more about the YogaWorks, Inc. class action contact firstname.lastname@example.org.
Sogou Inc. (NYSE: SOGO) Class Period: Purchasers of American Depositary Shares pursuant and/or traceable to Sogou’s false and misleading Registration Statement and Prospectus issued in connection with the Company’s initial public offering on November 9, 2017 Lead Plaintiff Deadline: March 11, 2019 Join the action: https://www.zlk.com/pslra-1/sogou-inc-loss-form?wire=3
The lawsuit alleges that, during the class period, Sogou Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Chinese regulators were analyzing Sogou for regulatory action because of an increase in Sogou merchants’ sales of counterfeit goods; (ii) Chinese regulators were analyzing Sogou for regulatory action because Sogou’s existing software, advertising procedures, personnel, and audit procedures were insufficient to safeguard against compliance violations with governing Chinese regulations, and would need to be updated, enhanced, and strengthened, thus resulting in increased expenses; (iii) Sogou’s cost of revenues were skyrocketing primarily because of significant increases in Traffic Acquisition Cost, which is a primary driver of Sogou’s cost of revenues, as Sogou was dealing with significant price inflation from increased competition; (iv) Sogou was going to alter its strategy concerning smart hardware and push the Company’s AI capabilities to increase product competitiveness; (v) as a result of altering its smart hardware strategy, Sogou had already decided to phase out non-AI-enabled hardware products, such as legacy models of Teemo Smart Watch, and transition to use products integrating AI technologies, which Sogou hoped would reduce its hardware revenue in the second half of 2018; and (vi) as a result of the foregoing, Sogou’s public statements were materially false and misleading at all relevant times.
To learn more about the Sogou Inc. class action contact email@example.com.
Arlo Technologies, Inc. (NYSE: ARLO) Class Period: Purchasers of common stock pursuant or traceable to the Registration Statement and Prospectus issued in connection with the August 3, 2018 Initial Public Offering Lead Plaintiff Deadline: March 25, 2019 Join the action: https://www.zlk.com/pslra-1/arlo-technologies-inc-loss-form?wire=3
According to the complaint, defendants made false and/or misleading statements and/or failed to disclose that: (i) there was a flaw and/or quality issue with Arlo’s newly designed battery for its Ultra camera systems; (ii) this flaw and/or quality issue with the Ultra battery could result in a shipping delay of Arlo’s Ultra product; (iii) such a shipping delay endangered Arlo’s chances of launching the Ultra product in time for the crucial holiday season; (iv) such a shipping delay would allow Arlo’s competitors to capitalize on the Ultra product’s missed launch, thereby increasing their own market share; (v) Arlo’s consumers had been experiencing battery drain issues and other battery-related issues in connection with recent firmware updates; (vi) because of the foregoing, Arlo’s fourth quarter 2018 results and consumer base would be negatively impacted; and (vii) as a result, Arlo’s Registration Statement was materially false and misleading at all relevant times.
To learn more about the Arlo Technologies, Inc. class action contact firstname.lastname@example.org.
You have until the lead plaintiff deadlines to request the court appoint you 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.55 Broadway, 10th FloorNew York, NY 10006 email@example.com Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171www.zlk.com