NEW YORK, Oct.31, 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.
About the lawsuit: Cadence Bancorporation allegedly made materially false and/or misleading statements during the class period and/or failed to disclose that: (1) the Company lacked adequate internal controls to assess credit risk; (2) as a result, certain of the Company’s loans posed an increased risk of loss; (3) as a result, the Company was reasonably likely to incur significant losses for certain loans; (4) the Company’s financial results would suffer a material adverse impact; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
To learn more about the class action contact .
About the lawsuit: During the class period, Ollies Bargain Outlet Holdings, Inc.allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) the Company suffered a supply chain issue that impacted the initial inventory available at new stores; (2) as a result, the Company lacked sufficient inventory to meet demand at certain store locations; (3) as a result, the Company’s comparable store sales were likely to decrease quarter-over-quarter; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
To learn more about the class action contact .
About the lawsuit: Waitr Holdings Inc.allegedly made materially false and/or misleading statements during the class period and/or failed to disclose that: (i) Waitr lacked a plan to achieve profitability and, contrary to the statements of Company founder Chris Meaux, Waitr was not at or near profitability and Defendants had created the illusion of financial stability by engaging in a host of illegal and improper activities each designed to inflate revenues and earnings—such as unilaterally breaking low-rate contracts and imposing significantly higher rates, and by refusing to pay drivers for mileage related expenses—both of which ultimately resulted in independent class action lawsuits; and (ii) Waitr’s technology provided no real advantage and the Company could not obtain the developer, programming, or engineering resources necessary to enhance, maintain, and develop industry leading software from its headquarter location in Lake Charles, Louisiana.
To learn more about the class action contact .
About the lawsuit: Overstock.com, Inc.
allegedly made materially false and/or misleading statements and/or failed to disclose that: (a) it was not true that Overstock would be able to support the launch of its tZERO crypto currency with earnings or cash flow from its retail operations and that whatever marginal improvements defendants had made by cutting costs and engineering earnings could not be sustained so as to generate positive EBITDA or cash from operations necessary to support its crypto currency operations; (b) there were extreme additional risks and substantial volatility in the price of Company shares was foreseeable, given defendants’ undisclosed plan to offer its tZERO Preferred Share Dividend as a means to squeeze short sellers out of Overstock and to prevent them from holding legitimate positions in the Company; (c) there was a foreseeable likelihood that the Company’s ability to accomplish its intended short squeeze would embolden the SEC or even market participants, such as major brokerage houses, to act to prevent this market manipulation; (d) it was not true that Overstock contained adequate systems of internal operational or financial controls, such that Overstock’s quarterly reports filed with the SEC were true, accurate or reliable; (e) as a result of the foregoing, it also was not true that the Company’s quarterly reports filed with the SEC were prepared in accordance with GAAP ad SEC rules; and (f) as a result of the aforementioned adverse conditions which defendants failed to disclose, defendants lacked any reasonable basis to claim that Overstock was operating according to plan, or that Overstock could achieve guidance sponsored and/or endorsed by defendants.
To learn more about the class action contact .
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.
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CONTACT:Levi & Korsinsky, LLPJoseph E.Levi, Esq.55 Broadway, 10th FloorNew York, NY 10006Tel: (212) 363-7500Fax: (212) 363-7171.
