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CLASS ACTION UPDATE for ORA and REPH: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

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NEW YORK, July 27, 2018 (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.

Ormat Technologies, Inc. (NYSE:ORA)
Class Period:
August 8, 2017 - May 15, 2018
Lead Plaintiff Deadline: August 8, 2018
Join the action: http://www.zlk.com/pslra-d/ormat-technologies-inc?wire=3

Allegations: Ormat Technologies, Inc. made materially false and/or misleading statements throughout the class period and/or failed to disclose that: (1) there were errors in the income tax provision primarily relating to Ormat's valuation allowance based on its ability to utilize foreign tax credits in the U.S. prior to their expiration; (2) Ormat netted certain deferred income tax assets and deferred income tax liabilities across different tax jurisdictions that are not permitted to be netted pursuant to United States generally accepted accounting principles; (3) Ormat's internal controls over financial reporting were ineffective; (4) Ormat would need to restate its second, third and fourth quarter 2017 financial statements and its full-year 2017 financial statements; and (5) as a result, defendants' statements about Ormat's business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.   

To learn more about the ORA class action contact jlevi@levikorsinsky.com.

Recro Pharma, Inc. (NASDAQ:REPH)
Class Period:
July 31, 2017 - May 23, 2018
Lead Plaintiff Deadline: July 30, 2018
Join the action: http://www.zlk.com/pslra-d/recro-pharma-inc?wire=3

Allegations: During the class period, Recro Pharma, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company's lead product, IV meloxicam, lacked supporting clinical data to show sufficient clinical benefits to receive U.S. Food and Drug Administration ("FDA") approval; and (2) as a result, Recro Pharma's public statements were materially false and misleading at all relevant times. On May 24, 2018, Recro Pharma announced that the FDA had declined to approve its New Drug Application ("NDA") for IV meloxicam. In its Complete Response Letter, the FDA stated that the drug's analgesic effects did not meet FDA expectations and raised questions related to chemistry, manufacturing and controls data.

To learn more about the REPH class action contact jlevi@levikorsinsky.com.

You have until the lead plaintiff deadlines to request the court appoint 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, LLP
Joseph E. Levi, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
jlevi@levikorsinsky.com
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com 

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