CEDARHURST, N.Y., March 06, 2019 (GLOBE NEWSWIRE) -- The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff and a preliminary estimate of their recoverable losses.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No classes have yet been certified in the actions below. Appointment as lead plaintiff is not required to partake in any recovery.
Sogou Inc. (NYSE: SOGO)
Investors Affected: 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
A class action has commenced on behalf of certain shareholders in Sogou Inc. The filed complaint alleges that defendants 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.
Shareholders may find more information at https://kseclaw.com/securities/sogou-inc/?wire=3
Vanda Pharmaceuticals Inc. (NASDAQ: VNDA)
Investors Affected: November 4, 2015 - February 11, 2019
A class action has commenced on behalf of certain shareholders in Vanda Pharmaceuticals Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Vanda was engaged in a fraudulent scheme in which it promoted the off-label use of Fanapt and Hetlioz; (2) Vanda was fraudulently receiving drug reimbursements from the government by abusing Medicare, Medicaid, and Tricare programs; (3) as a result of the scheme, Vanda faced legal action from the government; (4) Vanda’s promotional materials for Fanapt and Hetlioz were false and misleading, garnering regulatory scrutiny from the U.S. Food and Drug Administration; and (5) as a result, defendants’ statements about Vanda’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders may find more information at https://kclasslaw.com/securities/vanda-pharmaceuticals-inc-loss-submission-form/?wire=3
Weight Watchers International, Inc. (NASDAQ: WTW)
Investors Affected: May 4, 2018 - February 26, 2019
A class action has commenced on behalf of certain shareholders in Weight Watchers International, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) Weight Watchers was experiencing diminished subscriber demand attributable due to the onslaught of new competing smartphone fitness apps, meal-delivery services, and other tech advances was driving down Weight Watchers’ new subscriber growth and its subscriber retention rates; (b) diminished subscriber growth, when coupled with the much larger number of fourth quarter subscription lapses that Weight Watchers typically experiences, made it highly unlikely that the Company would retain four million subscribers by the end of 2018; (c) Weight Watchers was not on track to grow its subscriber count to five million or to drive annual revenues to more than $2 billion by the end-of-2020; (d) a decreased subscriber count would result in decreased revenues and profits; and (e) as a result, Defendants’ statements about Weight Watchers’ business metrics and financial prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Shareholders may find more information at https://kclasslaw.com/securities/weight-watchers-international-inc-loss-submission-form/?wire=3
Syneos Health, Inc. (NASDAQ: SYNH)
Investors Affected: May 10, 2017 - February 27, 2019
A class action has commenced on behalf of certain shareholders in Syneos Health, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Syneos Health’s internal control over financial reporting was inadequate; (2) concerns regarding Syneos Health’s internal control over financial reporting would result in heightened regulatory scrutiny and an SEC investigation into the company’s revenue accounting policies, internal controls and related matters; and (3) as a result, defendants’ statements about Syneos Health’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times.
Shareholders may find more information at https://kclasslaw.com/securities/syneos-health-inc-loss-submission-form/?wire=3
Kuznicki Law PLLC is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock.
CONTACT:
Kuznicki Law PLLC
Daniel Kuznicki, Esq.
445 Central Avenue, Suite 344
Cedarhurst, NY 11516
Email: dk@kclasslaw.com
Phone: (347) 696-1134
Cell: (347) 690-0692
Fax: (347) 348-0967