Portfolio Categories Archives: Litigation

Booz Allen Securities Litigation

This is an abbreviated version of Battea’s Booz Allen securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: June 20, 2017

Case Summary

Securities class action on behalf of a class consisting of all persons other than defendants who purchased or otherwise acquired Booz Allen securities between May 19, 2016 and June 15, 2017, pursuant to sections 10(b) and 20(a) of the Securities Exchange Act.

NYSEBAH
Lead Plaintiff Deadline8/19/2017

Preliminary Allegations

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) Booz Allen engaged in improper accounting practices in its contracts with the U.S. government; and (2) consequently, the Company’s revenues derived from services provided to the U.S. government were inflated and unsustainable.

Brief Company Profile

Booz Allen Hamilton Holding Corporation provides management and technology consulting, engineering, analytics, digital, mission operations, and cyber solutions to governments, corporations, and not-for-profit organizations in the United States and internationally. Booz Allen Hamilton Holding Corporation was founded in 1914 and is headquartered in McLean, Virginia.

Class Period5/19/16 - 6/15/17
CourtE.D. Virgina
Docket #17-cv-00696
JudgeLeonie M. Brinkema, presiding
Plaintiff(s)JEREMY A. LANGLEY
Defendant(s)BOOZ ALLEN HAMILTON HOLDING
CORPORATION, HORACIO D.
ROZANSKI, and LLOYD W. HOWELL JR.

Booz Allen Securities Litigation Price Chart

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Aaron’s Securities Litigation

This is an abbreviated version of Battea’s Aaron’s securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: June 16, 2017

Case Summary

Securities class action on behalf of those that purchased Aaron’s common stock between February 6, 2015 and October 29, 2015, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act.

NYSEAAN
Lead Plaintiff Deadline8/15/2017

Preliminary Allegations

The complaint alleges that throughout the class period, defendants touted to investors the strong revenue and sales growth generated by Progressive Finance Holdings, LLC, the Company’s most profitable subsidiary. In addition, the Company specifically touted Progressive’s proprietary algorithm, which it used to determine which customers meet the leasing qualifications. The complaint alleges that these statements were materially false and misleading. In truth, Aaron’s statements regarding Progressive were materially false and misleading because software issues related to the Progressive algorithm, including the loss of critical data, undermined Progressive’s ability to determine which customers met the leasing qualifications.

Brief Company Profile

Aaron’s, Inc. operates an omnichannel provider of lease-purchase solutions. It operates through five segments: Sales and Lease Ownership, Progressive, DAMI, Franchise, and Manufacturing. Aaron’s, Inc. was founded in 1955 and is headquartered in Atlanta, Georgia.

Class Period2/6/15 - 10/29/15
CourtN.D. Georgia Atlanta Division
Docket #17-cv-02270
JudgeSteve C Jones, presiding
Plaintiff(s)EMPLOYEES’ RETIREMENT SYSTEM
OF THE CITY OF BATON ROUGE AND
PARISH OF EAST BATON ROUGE
Defendant(s)AARON’S, INC., JOHN W. ROBINSON,
III, RYAN K. WOODLEY, and
GILBERT L. DANIELSON

Aaron’s Securities Litigation Price Chart

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Sky Solar Securities Litigation

This is an abbreviated version of Battea’s Sky Solar securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: June 16, 2017

Case Summary

Securities class action on behalf of a class consisting of all persons other than defendants who purchased or otherwise acquired the American Depositary Shares of Sky Solar: (1) pursuant and/or traceable to Sky Solar’s false and misleading registration statement and prospectus issued in connection with the Company’s initial public offering completed on or about November 18, 2014; and/or on the open market between November 18, 2014 and June 12, 2017, pursuant to the Sections 11 and 10(b) of the securities exchange act.

NASDAQ:SKYS
Lead Plaintiff Deadline8/15/2017

Preliminary Allegations

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (i) Sky Solar’s Code of Business Conduct and Ethics, and the code’s enforcement by the Company’s Board of Directors, were inadequate to detect and/or deter misconduct by Sky Solar’s officers and directors; (ii) consequently, Sky Solar’s founder, Weili Su, was involved in undisclosed misconduct during his tenure at the Company; and (iii) as a result of the foregoing, Sky Solar’s public statements were materially false and misleading.

Brief Company Profile

Sky Solar Holdings, Ltd., an independent power producer, develops, owns, and operates solar parks worldwide. It develops projects; and generates and sells electricity in the downstream solar market. The company was founded in 2009 and is headquartered in Central, Hong Kong.

Class Period11/14/14 - 6/12/17
CourtS.D. New York
Docket #17-cv-04572
JudgeHon. Laura Taylor Swain
Plaintiff(s)ANDREW BARILLI
Defendant(s)SKY SOLAR HOLDINGS, LTD., WEILI
SU, and JIANMIN WANG

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FleetCor Securities Litigation

This is an abbreviated version of Battea’s FleetCor securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: June 13, 2017

Case Summary

Securities class action on behalf of all those that purchased FleetCor Securities from February 5, 2016 to May 2, 2017, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934.

NYSE:FLT
Lead Plaintiff Deadline8/13/2017

Preliminary Allegations

The complaint alleges that defendants mislead investors with regard to the sources of and reasons for its earnings and growth, attributing the Company’s success to factors such as investments in the Company’s sales infrastructure, the conversion of new customers, and the performance of acquired companies. The Company also falsely stated that it clearly discloses its fees to customers and that its business is focused on helping employers control spending and saving money.

Brief Company Profile

FleetCor is a leading global provider of fuel cards and workforce payment products to businesses. FleetCor’s payment programs enable businesses to better control employee spending and provide card-accepting merchants with a high volume customer base that can increase their sales and customer loyalty.

Class Period2/5/16 - 5/2/17
CourtN.D. Georgia
Docket #17-cv-02207
JudgeCharles A. Pannell, Jr, presiding
Plaintiff(s)CITY OF SUNRISE GENERAL
EMPLOYEES’ RETIREMENT PLAN
Defendant(s)FLEETCOR TECHNOLOGIES, INC.,
RONALD F. CLARKE, and ERIC R.
DEY

FleetCor Securities Litigation Price Chart

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Mazor Robotics Securities Litigation

This is an abbreviated version of Battea’s Mazor Robitics securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: June 9, 2017

Case Summary

Class action on behalf of persons and entities that acquired Mazor’s securities between November 8, 2016 and June 8, 2017, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934. To read more about the Mazor Robotics securities litigation, visit Battea’s Mazor Robotics news article.

NASDAQ:MZOR
Lead Plaintiff Deadline8/8/2017

Preliminary Allegations

The complaint alleges that defendants made materially false and/or misleading statements, as well as failed to disclose: (1) that the Company was engaged in conduct that subjected it to ISA investigations; (2) that, as such, the Company was exposed to potential liability; and (3) as a result defendants’ statements about Mazor’s business, operations and prospects were false and misleading.

Brief Company Profile

Mazor Robotics Ltd., together with its subsidiaries, engages in the development, production, and marketing of medical devices for supporting surgical procedures in the fields of orthopedics and neurosurgery in the United States and internationally. Mazor Robotics Ltd. was founded in 2000 and is based in Caesarea, Israel.

Class Period11/8/16 - 6/8/17
CourtS.D. New York
Docket #17-CV-04387
JudgeWilliam H. Pauley, III, presiding
Plaintiff(s)NORMAND BERGERON
Defendant(s)MAZOR ROBOTICS LTD., ORI HADOMI,
ELIYAHU ZEHAVI, and SHARON LEVITA

Mazor Robitics Securities Litigation Price Chart

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Roche Securities Litigation

This is an abbreviated version of Battea’s Roche securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: June 7, 2017

Case Summary

Securities class action on behalf of a class consisting of all persons and entities, other than defendants, who purchased or otherwise acquired the publicly traded securities of Roche from March 2, 2017 through June 5, 2017, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934. To read more about the Roche securities litigation, visit Battea’s Roche news article.

OTC:RHHBY
Lead Plaintiff Deadline8/6/2017

Preliminary Allegations

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) the combination of Perjeta and Herceptin is only marginally more effective than Herceptin alone in preventing breast cancer; and (2) as a result, defendants statements about the company’s business, operations and prospects were materially false and misleading.

Brief Company Profile

Roche, founded in 1896, is a global pioneer in pharmaceuticals and diagnostics focused on advancing science to improve people’s lives. The Roche Group is headquartered in Basel, Switzerland.

Class Period3/2/17 - 6/5/17
CourtDist. New Jersey
Docket #17-CV-04056
JudgeAnne E. Thompson
Plaintiff(s)THOMAS BIONDOLILLO
Defendant(s)ROCHE HOLDING AG, SEVERIN SCHWAN, and ALAN HIPPE

Roche Securities Litigation Price Chart

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General Motors Securities Litigation

This is an abbreviated version of Battea’s General Motors securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: May 27, 2017

Case Summary

Securities class action on behalf of a class consisting of all persons and entities other than defendants who purchased or otherwise acquired the publicly traded securities of GM from February 27, 2012 through May 25, 2017, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934.

NYSE:GM
Lead Plaintiff Deadline7/26/2017

Preliminary Allegations

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) the company installed three distinct defeat devices in over 700,000 trucks with Duramax diesel engines from 2011 to 2016 to beat emissions tests in the U.S.; (2) in turn, these trucks emit up to five times the legal limit of nitrogen oxide pollutants; and (3) as a result, the company’s public statements were materially false and misleading.

Brief Company Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. General Motors Company was founded in 1897 and is based in Detroit, Michigan.

Class Period2/27/12 - 5/27/17
CourtE.D. New York
Docket #17-cv-03213
JudgeNA
Plaintiff(s)ROBERT KLESZYNSKI
Defendant(s)GENERAL MOTORS COMPANY, DANIEL F.
AKERSON, MARY T. BARRA, DANIEL
AMMANN, and CHARLES K. STEVENS III

General Motors Securities Litigation Price Chart

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Zoompass Securities Litigation

This is an abbreviated version of Battea’s Zoompass securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: May 30, 2017

Case Summary

Securities class action on behalf of a class consisting of all persons other than defendants who purchased or otherwise acquired Zoompass securities between April 24, 2017 and May 24, 2017, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934. To read more about the Zoompass securities litigation, visit Battea’s Zoompass news article.

OTC:ZPAS
Lead Plaintiff Deadline7/29/2017

Preliminary Allegations

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose: (i) Zoompass unlawfully engaged in a scheme to promote the Company’s stock; (ii) discovery of the foregoing conduct would subject the Company to heightened regulatory scrutiny and potential criminal sanctions; and (iii) that as a result of the foregoing, Zoompass’ public statements were materially false and misleading at all relevant times.

Brief Company Profile

Zoompass Holdings, Inc. develops a mobile money platform that enables brands to transform their financial interactions with customers. Its platform facilitates employee reward incentives, compensation, customer rewards and promotions, and managed services, as well as enables businesses to visualize their financial transactions with customers, employers, and suppliers. The company was founded in 2009 and is headquartered in Toronto, Canada with an additional location in Englewood, New Jersey. Zoompass Holdings, Inc. operates as a subsidiary of Paymobile Inc.

Class Period4/24/17 -5/25/17
CourtD. New Jersey
Docket #17-cv-03831
JudgeJose L. Linares, presiding
Plaintiff(s)Naymish Patel
Defendant(s)ZOOMPASS HOLDINGS, INC., ROBERT LEE, and BRIAN MORALES

Zoompass Securities Litigation Price Chart

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Snap Securities Litigation

This is an abbreviated version of Battea’s Snap securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: May 16, 2017

Case Summary

Securities class action on behalf of a class consisting of all persons other than defendants who purchased or otherwise acquired Snap securities: (1) pursuant and/or traceable to Snap’s false and misleading Registration Statement and Prospectus, issued in connection with the company’s initial public offering on or about March 2, 2017; and/or (2) on the open market between March 2, 2017 and May 15, 2017, pursuant to sections 10(b), 20(a) and 11 of the Securities Exchange Act of 1934 and the Securities Act of 1933. To read more about the Snap securities litigation, visit Battea’s Snap news article.

NYSE:SNAP
Lead Plaintiff Deadline7/15/2017

Preliminary Allegations

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: 1) Snap’s reported user growth was materially false and misleading; and 2) as a result, Snap’s public statements were materially false and misleading.

Brief Company Profile

Snap Inc. operates as a camera company. It offers Snapchat, a camera application that helps people to communicate through short videos and images. The company also provides a suite of content tools for partners to build, edit, and publish snaps and attachments based on editorial content; and Spectacles, which are sunglasses that capture video from a human perspective. The company was formerly known as Snapchat, Inc. and changed its name to Snap Inc. in September 2016. Snap Inc. was founded in 2010 and is headquartered in Venice, California.

Class Period3/2/17 - 5/15/17
CourtC.D. California
Docket #17-CV-03679
JudgeHon. Stephen V. Wilson
Plaintiff(s)JAMES ERICKSON
Defendant(s)SNAP INC., EVAN SPIEGEL, and ANDREW VOLLERO

Snap Securities Litigation Price Chart

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Dick’s Sporting Goods Securities Litigation

This is an abbreviated version of Battea’s Dick’s Sporting Goods securities litigation proprietary research. Full case summaries and economic analyses are available to clients through Battea’s litigation monitoring portal. For more information, or to request a demonstration, contact Battea.

Case Filed: May 16, 2017

Case Summary

Securities class action on behalf of a class consisting of all persons, other than defendants, who purchased or otherwise acquired Dick’s securities between March 7, 2017 and May 15, 2017, pursuant to sections 10(b) & 20(a) of the Securities Exchange Act of 1934. To read more about the Dick’s Sporting Goods securities litigation, visit Battea’s Dick’s Sporting Goods news article. 

NYSE:DKS
Lead Plaintiff Deadline7/15/2017

Preliminary Allegations

The complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) Dick’s had overstated its adjusted EBITDA amounts; and (2) accordingly, the company lacked effective internal controls.

Brief Company Profile

Dick’s Sporting Goods, Inc. operates as a sporting goods retailer primarily in the eastern United States. It provides hardlines, including sporting goods equipment, fitness equipment, golf equipment, and hunting and fishing gear products; apparel; and footwear.

Class Period3/7/17 - 5/15/17
CourtS.D. New York
Docket #17-cv-03680
JudgeVernon S. Broderick, presiding
Plaintiff(s)BRANDON MCKENNA
Defendant(s)DICK’S SPORTING GOODS, INC.,
EDWARD W. STACK and LEE J.
BELITSK

Dick’s Sporting Goods Securities Litigation Price Chart

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