Type: Securities Fraud case filed

According to the Complaint, the Company made false and misleading statements to the market. Jumia overstated both its current active merchants and active customers. The Company’s statements about orders, cancellations, undelivered orders, and returned orders were not factual and overstated sales. The Company failed to disclose transactions with related parties. Based on these facts, the Company’s public statements were false and materially misleading. When the market learned the truth about Jumia, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Nabriva’s manufacturers were incapable of maintaining good manufacturing practices. Because these manufacturers would be subject to inspection as part of the Company’s New Drug Application for CONTEPO with the FDA. The poor manufacturing practices were likely to hurt the chances of the New Drug Application to be approved. 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 Nabriva, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Nokia acquired Alcatel-Lucent S.A. (“Alcatel”) in November 2016. Alcatel failed to maintain sufficient internal controls, and its business practices were materially non-compliant. Nokia failed to undertake appropriate due diligence before acquiring Alcatel. After the acquisition, the Company allowed the insufficient controls over Alcatel to remain in place. This put the Company at risk of significant criminal and civil penalties. 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 Nokia, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Boston Scientific’s surgical mesh products for transvaginal repair of POP were not safe for usage. The Company’s continued marketing and sales of surgical mesh in the U.S. were not sustainable based on this issue. The Company also sold surgical mesh products containing counterfeit materials from China. 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 Boston Scientific, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. KushCo made material errors in accounting for its acquisition of CMP Wellness, Summit, and Hybrid. Due to these errors, the Company’s financial statements for fiscal years 2017 and 2018, along with its quarterly reports during those years, could not be relied upon. In fact, KushCo’s net loss for fiscal year 2018 was more than twice as high as was reported in its financial statement. 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 KushCo, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Sprint misrepresented the total number of net postpaid subscriber additions in the Company’s Form 10-Q for the period ending December 31, 2018. The Company admitted in a letter to the FCC that its Form 10-Q disclosures were “incomplete.” In fact, the net subscriber increases included users offered “free lines.” 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 Spring, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Both demand for Apple’s iPhone and its pricing power in greater China were negatively impacted by the U.S.-China trade war. Because Apple discounted the price of replacement batteries for certain iPhone models, a decision made due to the revelation that the Company was purposefully degrading the battery performance of these products, customers were replacing their batteries instead of purchasing a new iPhone, impacting sales growth. Apple slashed production of 2018 iPhone models and cut prices to reduce its current inventory. The Company also withheld unit sales for iPhones and other products, a metric long used by investors to judge the Company’s performance, in order to mask the decline in sales of the iPhone, Apple’s most prominent product. 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 Apple, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Eventbrite’s migration of customers from Ticketfly, which it acquired in September 2017, occurred at a slower pace than anticipated, which resulted in a longer timeline to reach completion. This negatively impacted the Company’s revenue growth. 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 Eventbrite, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Fusion Connect overstated its earnings for the quarters ending June 30, 2018, and September 30, 2018, due to inaccurate capitalization of costs by several of its Birch Communications Holdings, Inc. subsidiaries. Based on this fact, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Fusion Connect, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Orion overstated its goodwill in certain specific periods. The Company also overstated accounts receivable. It lacked appropriate internal controls over financial reporting, especially in the areas of goodwill impairment testing and allowance for doubtful accounts. Due to the failure to maintain these controls, the Company suffered adjustments which materially impacted its financial results. 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 Orion, investors suffered damages.