Type: Securities Fraud case filed

According to the Complaint, the Company made false and misleading statements to the market. DXC Technology changed the focus of its sales organization from specialized teams designed to meet client expectations to a generalized sales team. The Company’s strategy of reducing costs and employee headcount resulted in a shortage of salespeople who could properly represent its products and services, resulting in lost sales opportunities. Based on these facts, the Company’s public statements, including revenue projections and guidance, were false and materially misleading throughout the class period. When the market learned the truth about DXC Technology, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. The FDA issued citations against Immunomedics for multiple violations at its Morris Plains, NJ facility. The FDA citations included the manipulation of bioburden samples, backdating of records, and misrepresentation of integrity test procedures. 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 Immunomedics, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. China TechFaith made an arrangement to sell a wholly-owned subsidiary that would be considerably less lucrative for the Company than it portrayed to investors. The Company failed to inform investors of changing market conditions that would impact profitability negatively. 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 China TechFaith, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. NVIDIA touted its ability to monitor the cryptocurrency market and make rapid changes to its business as necessary. The Company claimed to be “masters at managing our channel, and we understand the channel very well.” NVIDIA also claimed to the market that any drop off in demand for its GPUs amongst cryptocurrency miners would not negatively impact the Company’s business because of strong demand for GPUs from the gaming market. 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 NVIDIA, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. AxoGen aggressively raised prices in an attempt to make up for falling sales, a decision that upset customers and hurt growth. The Company paid a small group of surgeons to generate sales and became dependent on this group to generate revenue. The Company’s sales organization was prone to channel stuffing and was incented to backdate sales orders to inflate Company metrics. This resulted in the Company’s key metrics being overstated. 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 AxoGen, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. DBV Technologies’ application to the FDA for Viaskin Peanut failed to provide an appropriate level of information to the agency about manufacturing processes and quality control. The Company was therefore put in a position where it had to voluntarily withdraw its Biologics License Application for Viaskin Peanut. 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 DBV Technologies, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. YRC Worldwide overcharged the federal government for freight carrier services on a systemic basis from 2005 to 2013. The Company’s misconduct resulted in the DoD being overcharged by millions of dollars for freight loads that were lighter and therefore cheaper than what the Company charged the government for. YRC Worldwide’s business practices opened it up to government liabilities, including potentially owing treble damages under the False Claims Act. 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 YRC Worldwide, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Yangtze River’s supposed lease of the Company’s primary asset, the Wuhan Yangtze River Newport Logistics Center, was a complete fabrication. Yangtze River’s only operating subsidiary, Wuhan Yangtze River Newport Logistics Co., Ltd., faced multiple judgments against it in China and was declared insolvent. 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 Yangtze River, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Nova Lifestyle mischaracterized its supposed “strategic alliance” with Shanxi Wanginq, which the Company claimed had named it lead designer provider of all furnishings for a $460 million senior center in China. Nova Lifestyle inflated its reported revenues in 2016 and 2017 in conjunction with Shanxi Wangqing and Merlino Lewis LLP. 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 Nova Lifestyle, investors suffered damages.

According to the Complaint, the Company made false and misleading statements to the market. Dentsply conspired with its top distributors in a scheme to artificially increase the cost of the Company’s products while suppressing competitors at the same time. The Company also engaged in a “channel-stuffing” effort which distorted its sales numbers, financial reports, and future guidance. These activities resulted in an SEC investigation, the resignation of three top executives, and the lowering of its 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 Dentsply, investors suffered damages.