NEW YORK, Aug. 01, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Mammoth Energy Services, Inc., Pyxus International, Inc., Ra Medical Systems, Inc., and ChinaCache International Holdings Ltd. Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Mammoth Energy Services, Inc. TUSK
Class Period: October 19, 2017 to June 5, 2019
Lead Plaintiff Deadline: August 6, 2019
The complaint, filed on June 7, 2019, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Mammoth's subsidiary, Cobra, improperly obtained two infrastructure contracts with PREPA that totaled over $1.8 billion; (2) specifically, the contracts were awarded as the result of improper steering and not a competitive RFP process; and (3) as a result, defendants statements about Mammoth's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
To learn more about the Mammoth class action go to: http://bespc.com/tusk
Pyxus International, Inc. PYX
Class Period: June 7, 2018 to November 8, 2018
Lead Plaintiff Deadline: August 6, 2019
On November 8, 2018, the company disclosed that sales declined approximately 12% year-over-year due to the timing of shipments and the larger crop last year in South America.
On this news, the company's share price fell $7.01, or nearly 28%, to close at $18.26 on November 8, 2018, on unusually heavy trading volume.
On November 9, 2018, the SEC announced that the company had settled charges that it had materially misstated its financial statements filed with the SEC from at least 2011 through the second quarter of 2015 due to improper and insufficient accounting, processes, and control activities for inventory, deferred crop costs, and revenue transactions in Africa.
On this news, the company's share price fell $2.88, or nearly 16%, to close at $15.38 on November 9, 2018, on unusually heavy trading volume.
The complaint, filed on June 7, 2019, alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company's business, operations, and prospects. Specifically, defendants failed to disclose to investors: (1) that the company was experiencing longer shipping cycles; (2) that, as a result, the company's financial results would be materially affected; (3) that the company lacked adequate internal control over financial reporting; (4) that the company's accounting policies were reasonably likely to lead to regulatory scrutiny; and (5) that, 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 Pyxus class action go to: https://bespc.com/pyx/
Ra Medical Systems, Inc. RMED
Class Period: September 23, 2018 to June 10, 2019 (the "Class Period") and/or securities purchased pursuant or traceable to the Initial Public Offering ("IPO") on September 26, 2018.
Lead Plaintiff Deadline: August 6, 2019
The complaint, filed on June 10, 2019, alleges that throughout the Class Period defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, defendants failed to disclose to investors that: (1) the Company's evaluation of sales personnel candidates was inadequate; (2) the Company's training program for sales personnel was inadequate; (3) as a result, the Company could not reasonably assure that its newly hired sales personnel were adequately experienced; (4) as a result, the Company would suffer a shortage of qualified sales personnel; (5) the Company's manufacturing process could not reasonably support increased catheter production; (6) as a result, the Company would suffer production delays; and (7) 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 Ra Medical class action go to: http://bespc.com/rmed-2
ChinaCache International Holdings, Ltd. CCIH
Class Period: April 10, 2015 to May 17, 2019
Lead Plaintiff Deadline: August 12, 2019
The complaint, filed on June 12, 2019, alleges that on April 29, 2019 ChinaCache filed a Form NT 20-F with the U.S. Securities and Exchange Commission revealing that it would delay filing its annual report for fiscal year 2018. On May 17, 2019, ChinaCache announced that the Company and its Chief Executive Officer and Chairman of the Board of Directors ("Chairman"), Song Wang ("Wang"), were under criminal investigation by a government prosecutor office in Beijing for charges of enterprise bribery. Wang resigned as CEO and Chairman, and on that same day, ChinaCache securities were halted from trading on the NASDAQ.
Further, on May 23, 2019, ChinaCache said that it received a NASDAQ Notification Letter, three days earlier on May 20, 2019, because it failed NASDAQ listing requirements by delaying its 2018 Form NT 20-F (the "NASDAQ Letter"). The NASDAQ Letter also probed the company regarding the resignation of its auditor, Grant Thornton China, ChinaCache's engagement of its new auditor, and the allegations of enterprise bribery by ChinaCache and Wang. To date, ChinaCache securities remain halted, and consequently ChinaCache securities are essentially valueless.
To learn more about the ChinaCache class action go to: http://bespc.com/CCIH
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
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