Type: Securities Fraud case filed

According to the Complaint, the Company made false and misleading statements to the market. Merit Medical’s integration of Cianna and Vascular Insights were months behind schedule, suffering from operational disruptions and reduced sales. The acquired companies had filled their pipeline before the merger to the extent that 2019 sales slowed substantially. The Company’s financial guidance for 2019 and 2020 did not have a solid basis in fact due to these problems. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Merit Medical, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Evolent’s partnership model was built from the ground up to inflate the Company’s revenue with huge fees and management expenses siphoned from operating partners including Passport. The partnership between Passport and Evolent quickly became unsustainable, especially when combined with complicating factors for Passport’s operations in Kentucky. Passport was left on the brink of insolvency due to the Company draining it of employees and money. In fact, Passport was selling itself off in a bidding process to avoid insolvency. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Evolent, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. LogMeIn had no intention of offering an optional transition to the Company’s prepaid annual model for subscribers of Citrix’s GoToMeeting acquired with GetGo. The Company planned to force these customers into converting to annual contracts at higher prices and with more restrictions. This aggressive plan created a significant risk of increasing customer friction and churn following the acquisition, while also making customers likely to cancel their subscriptions at the end of their contracts. Based on these facts, the Company’s Registration Statement was false and materially misleading. When the market learned the truth about LogMeIn, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Abiomed suffered from declining revenue growth. The Company failed to develop a sufficient plan to rebuild its revenue growth. The Company did not have good prospects to increase its revenue growth over the next several fiscal quarters, leaving it likely to be forced to revise down its fiscal year 2020 guidance. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Abiomed, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Canada Goose sourced the down and fur materials in its products using inhumane treatment of animals. This unethical treatment of animals was not in compliance with FTC regulations on false advertising specifically on the Company’s sourcing practices. These improper actions resulted in an ongoing FTC investigation into the Company for false advertising. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Canada Goose, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Carbonite’s Server Backup VM Edition product suffered from deep quality flaws and poor technology. The Company received many negative reviews of the product from its customers. The product was so flawed that it acted as a “disruptive” factor amongst Carbonite’s sales force, constraining salespeople from closing several large deals in fiscal year 2019. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Carbonite, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Cardinal Health touted that Cordis Corp., which it acquired in March 2015, would greatly benefit from leveraging the Company’s inventory and supply chain technology. The Company also made false statements that it had properly “reserve[d] for inventory obsolescence” and that “[i]nventories presented in the consolidated balance sheets [were] net of reserves for excess and obsolete inventory.” Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Cardinal Health, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Curaleaf marketed its CBD products on both its website and on social media as drugs and dietary supplements, contrary to regulations. The Company sold unapproved animal drugs on its website as well. These sales and marketing practices resulted in a warning letter from the FDA. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Curaleaf, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. 2U faced stiffening competition in the online education space, especially in the graduate program area. At the same time, the Company faced program-specific issues that hurt performance. These factors combined to make the Company’s business model unsustainable, forcing it to slow program launches. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about 2U, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Capital One failed to maintain appropriate information security practices, including failing to protect its customers’ personal information from hackers and other bad actors. In fact, the company was open to cyber-attack. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Capital One investors suffered damages.